Proxy Voting Policy

Peregrine Investment Advisors, LLC (“Peregrine”) does not vote client proxies. Therefore, although Peregrine may provide investment advisory services relative to client investment assets, Peregrine clients maintain exclusive responsibility for: (1) directing the manner in which proxies solicited by issuers of securities beneficially owned by the client shall be voted, and (2) making all elections relative to any mergers, acquisitions, tender offers, bankruptcy proceedings or other type events pertaining to the client’s investment assets.  Peregrine and/or the client shall correspondingly instruct each custodian of the assets to forward to the client copies of all proxies and shareholder communications relating to the client’s investment assets.  

QUESTIONS: Any questions regarding Peregrine’s proxy voting policy shall be directed to the Chief Compliance Officer.