Company: CLM
Filing Date: 2025-02-21
Form Type: N-2
Source: 0001398344-25-003234
Chunk: 105

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-02-21
Form: N-2
Chunk 105
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 for the Fund will occur on domestic stock exchanges. Transactions on stock
exchanges involve the payment of brokerage commissions. In transactions on stock exchanges in the United States and some foreign exchanges,
these commissions are negotiated. However, on many foreign stock exchanges these commissions are fixed. In the case of securities traded
in the foreign and domestic over-the-counter markets, there is generally no stated commission, but the price usually includes an undisclosed
commission or markup. Over-the-counter transactions will generally be placed directly with a principal market maker, although the Fund
may place an over-the-counter order with a broker-dealer if a better price (including commission) and execution are available.

It is anticipated that most purchase and sale
transactions involving fixed income securities will be with the issuer or an underwriter or with major dealers in such securities acting
as principals. Such transactions are normally effected on a net basis and generally do not involve payment of brokerage commissions. However,
the cost of securities purchased from an underwriter usually includes a commission paid by the issuer to the underwriter. Purchases or
sales from dealers will normally reflect the spread between the bid and ask price.

The policy of the Fund regarding transactions
for purchases and sales of securities is that primary consideration will be given to obtaining the most favorable prices and efficient
executions of transactions. Consistent with this policy, when securities transactions are effected on a stock exchange, the Fund’s
policy is to pay commissions which are considered fair and reasonable without necessarily determining that the lowest possible commissions
are paid in all circumstances. The Board of Directors of the Fund believes that a requirement always to seek the lowest commission cost
could impede effective management and preclude the Fund and the Investment Adviser from obtaining high quality brokerage and research
services. In seeking to determine the reasonableness of brokerage commissions paid in any transaction, the Investment Adviser may rely
on its experience and knowledge regarding commissions generally charged by various brokers and on its judgment in evaluating the brokerage
and research services received from the broker effecting the transaction. Such determinations are necessarily subjective and imprecise,
as in most cases an exact dollar value for those services is not ascertainable.

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In seeking to implement the Fund’s policies,
the Investment Adviser will place transactions with those brokers and dealers who it believes provide the most favorable prices and which
are capable of providing efficient executions. If the Investment Adviser believes such price and execution are obtainable from more than
one broker or dealer, it