Company: CLM
Filing Date: 2025-08-26
Form Type: N-CSRS
Source: 0001398344-25-016665
Chunk: 13

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-08-26
Form: N-CSRS
Chunk 13
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     | 6,481,117 |
| Peter K. Greer     |     | 150,058,697 |     | 6,672,733 |
| Frank J. Maresca   |     | 150,143,062 |     | 6,588,368 |
| Andrew A. Strauss  |     | 150,042,739 |     | 6,688,691 |

| 19 |

Investment Management Agreement Approval Disclosure(unaudited)

The Board of Directors (the “Board”) of Cornerstone Strategic Investment Fund, Inc. (the “Fund”), including those members of the Board who are not “interested persons,” as such term is defined by the 1940 Act (the “Independent Directors”), considers the approval of the continuation of the Investment Management Agreement (the “Agreement”) between Cornerstone Advisors, LLC (the “Investment Manager”) and the Fund on an annual basis. The most recent approval of the continuation of the Agreement occurred at an in-person meeting of the Board held on February 7, 2025.

The Board requested and received extensive materials and information from the Investment Manager to assist them in considering the approval of the continuance of the Agreement. Based on the Board’s review of the materials and information as well as discussions with management of the Investment Manager, the Board determined that the approval of the continuation of the Agreement was consistent with the best interests of the Fund and its stockholders. The Board decided that the continuation of the Agreement would enable the Fund to continue to receive high quality services at a cost that is appropriate, reasonable, and in the best interests of the Fund and its stockholders. The Board made these determinations on the basis of the following factors, among others: (1) the nature, extent, and quality of the services provided by the Investment Manager; (2) the cost to the Investment Manager for providing such services, with special attention to the Investment Manager’s profitability (and whether the Investment Manager realizes any economies of scale); (3) the direct and indirect benefits received by the Investment Manager from its relationship with the Fund and the other investment companies advised by the Investment Manager; and (4) comparative information as to the management fees, expense ratios and performance of other similarly situated closed-end investment companies.

In response to a questionnaire distributed by Fund counsel to the Investment Manager in accordance with Section 15(c) of the 1940 Act the Investment Manager provided certain information to the independent members of the Board in advance of the meeting held on