Company: CLM
Filing Date: 2025-04-08
Form Type: N-2/A
Source: 0001398344-25-006812
Chunk: 107

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-04-08
Form: N-2/A
Chunk 107
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 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.

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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.

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 may give consideration to placing transactions with those brokers and dealers who also furnish research or research
related services to the