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Receipt of $10.2 Million from Class Action Settlement

In January the Fund received $10.2 million from the successful class action settlement of Brach Family Foundation, Inc. et al v. AXA Equitable Life Insurance Co. No 16 Civ 740 (JMF) (SDNY). The case concerned allegations of contract breaches and misrepresentations by AXA Equitable Life Insurance Company related to cost of insurance rate increases in 2015. The receipt is reflected in the January 2024 valuation.

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