Company: CLM
Filing Date: 2025-04-08
Form Type: N-2/A
Source: 0001398344-25-006812
Chunk: 38

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-04-08
Form: N-2/A
Chunk 38
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 volatile and less subject to governmental supervision than
markets in the United States. As an alternative to holding foreign traded securities, the Fund may invest in dollar-denominated securities
of foreign companies that trade on U.S. exchanges or in the U.S. over-the-counter market (including depositary receipts as described
below, which evidence ownership in underlying foreign securities), and ETFs as described below.

Because foreign companies are not subject to uniform
accounting, auditing and financial reporting standards, practices and requirements comparable to those applicable to U.S. companies,
there may be less publicly available information about a foreign company than about a domestic company. Volume and liquidity in most
foreign debt markets is less than in the United States and securities of some foreign companies are less liquid and more volatile than
securities of comparable U.S. companies. There is generally less government supervision and regulation of securities exchanges, broker
dealers and listed companies than in the United States. Mail service between the United States and foreign countries may be slower or
less reliable than within the United States, thus increasing the risk of delayed settlements of portfolio transactions or loss of certificates
for portfolio securities. Payment for securities before delivery may be required. In addition, with respect to certain foreign countries,
there is the possibility of expropriation or confiscatory taxation, political or social instability, or diplomatic developments which
could affect investments in those countries. Moreover, individual foreign economies may differ favorably or unfavorably from the U.S.
economy in such respects as growth of gross national product, rate of inflation, capital reinvestment, resource self-sufficiency and
balance of payments position. Foreign securities markets, while growing in volume and sophistication, are generally not as developed
as those in the United States, and securities of some foreign issuers (particularly those located in developing countries) may be less
liquid and more volatile than securities of comparable U.S. companies.

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The Fund may purchase ADRs, international depositary
receipts (“IDRs”) and global depository receipts (“GDRs”) which are certificates evidencing ownership of shares
of foreign issuers and are alternatives to purchasing directly the underlying foreign securities in their national markets and currencies.
However, such depository receipts continue to be subject to many of the risks associated with investing directly in foreign securities.
These risks include foreign exchange risk as well as the political and economic risks associated with the underlying issuer’s country.
ADRs, IDRs and GDRs may be sponsored or unsponsored. Unsponsored receipts