IGR CBRE Global Real Estate Income Fund

CBRE Global Real Estate Income Fund

Declarations

INVESTMENT COMPANY FIDELITY BOND

For All the Commitments You Make^®

125 Broad Street, New York, NY 10004

NUMBER

315218

08/15/2024

POLICY NUMBER

PRODUCER NO.

652261939

Continental Insurance Company

700401

(herein called ‘Underwriter’)

Item 1.

Radnor, PA 19087

INSURING CLAUSE

Fidelity - Blanket

Premises

Transit

Forgery or Alteration

Securities

Counterfeit Currency

Computer Systems Fraud

Voice Initiated Transfer Fraud

Uncollectible Items of Deposit

Audit Expense

The liability of the Underwriter is also subject to the terms of the following endorsements executed simultaneously herewith:

Declarations

INVESTMENT COMPANY FIDELITY BOND

For All the Commitments You Make^®

125 Broad Street, New York, NY 10004

Notice of claim should be sent to the Underwriter at:     CNA – Claims Reporting

The UNDERWRITER, in consideration of the required premium, and in reliance on the APPLICATION and all other statements made and information furnished to the UNDERWRITER by the INSURED, and subject to the DECLARATIONS made a part of this bond and to all other terms and conditions of this bond, agrees to pay the INSURED for:

1.  EMPLOYEE COVERAGE

2.  PREMISES COVERAGE

A. PROPERTY

Loss of Property resulting directly from robbery, burglary, common-law or statutory larceny, hold-up, misplacement, mysterious unexplainable disappearance, damage, destruction or abstraction or removal from the possession, custody or control of the INSURED, while such Property is lodged or deposited within any offices or premises located anywhere.

B. OFFICES AND EQUIPMENT

Loss of, or damage to furnishings, fixtures, stationery, supplies, equipment, safes or vaults (but excluding all electronic data processing equipment) within any of the INSURED’S offices resulting directly from robbery, burglary, common law or statutory larceny or hold-up of such offices, or attempt thereat, or by vandalism or malicious mischief, or loss through damage to any office resulting directly from robbery, burglary, common law or statutory larceny or hold-up of such office, or attempts thereat, or to the interior of any such office by vandalism or malicious mischief, provided, in any event that the INSURED is the owner of such offices, furnishings, fixtures, stationery, supplies, equipment, safes or vaults or is legally liable for such loss or damage always excepting, however, a loss or damage through fire.

3.  TRANSIT COVERAGE

a.   in an armored motor vehicle, including loading and unloading thereof,

b.  in the custody of a natural person acting as a messenger of the INSURED, or

c.   in the custody of a Transportation Company and being transported in a conveyance other than an armored motor vehicle provided, however, that covered Property transported in such manner is limited to the following:

I.   written records,

II. securities issued in registered form which are not endorsed or are restrictively endorsed, or

III.  negotiable instruments not payable to bearer, which are not endorsed or are restrictively endorsed.

4.  FORGERY OR ALTERATION COVERAGE

Loss resulting directly from:

a.   Forgery or fraudulent material alteration of, on or in any bills of exchange, checks, drafts, acceptances, certificates of deposits, promissory notes, due bills, money orders, orders upon public treasuries, letters of credit, other written promises, orders or directions to pay sums certain in money, or receipts for the withdrawal of Property, or

b.  transferring, paying or delivering any funds or other Property, or establishing any credit or giving any value in reliance on any written instructions, advices, or applications directed to the INSURED authorizing or acknowledging the transfer, payment, delivery or receipt of funds or other Property, which instructions, advices or applications purport to bear the handwritten signature of any customer of the INSURED, or shareholder or subscriber to shares of an Investment Company, or of any banking institution, stockbroker or Employee but which instructions or applications either bear a Forgery or a fraudulent material alteration without the knowledge and consent of such customer, shareholder, subscriber to shares, banking institution, stockbroker, or Employee;

5.  EXTENDED FORGERY COVERAGE

a.   acquired, accepted or received, sold or delivered, given value, extended credit, or assumed liability in reliance upon any original Securities, documents or other written instruments which prove:

I.   to bear a Forgery or fraudulent material alteration,

II. to have been lost or stolen, or

III.  to be Counterfeit, or

b.  guaranteed in writing or witnessed any signatures upon any transfers, assignments, bills of sale, powers of attorney, guarantees, endorsements or other obligations upon or in connection with any Securities, documents or other written instruments which pass or purport to pass title to them.

Actual physical possession, and continued actual physical possession, of such Securities, documents or other written instruments by an Employee, Custodian, or a Federal or State chartered deposit institution is a condition precedent to the INSURED having relied on such items. Release or return of such items is an acknowledgment by the INSURED that it no longer relies on such items.

6.  COUNTERFEIT CURRENCY COVERAGE

7.  THREATS TO PERSONS COVERAGE

a.   the Employee who receives the threat has made a reasonable effort to notify an officer of the INSURED who is not involved in such threat, and

b.  the INSURED has made a reasonable effort to notify the Federal Bureau of Investigation and local law enforcement authorities concerning such threat.

8.  COMPUTER SYSTEMS COVERAGE

a.   Property to be transferred, paid or delivered,

b.  an account of the INSURED, or of its customer, to be added, deleted, debited, or credited, or

c.   an unauthorized account or a fictitious account to be debited or credited.

9.  VOICE INITIATED TRANSACTION COVERAGE

Loss resulting directly from a Voice Initiated Transaction directed to the INSURED authorizing the transfer of dividends or redemption proceeds of Investment Company shares from a Customer’s account, provided such Voice Initiated Transaction was:

a.   received at the INSURED’S offices by those Employees of the INSURED specifically authorized to receive the Voice Initiated Transaction,

b.  made by a person purporting to be a Customer, and

c.   made by said person for the purpose of causing the INSURED or Customer to sustain a loss or making an improper personal financial gain for such person or any other person.

10.  UNCOLLECTIBLE ITEMS OF DEPOSIT COVERAGE

Loss resulting directly from the INSURED having credited an account of a customer, shareholder or subscriber on the faith of any Items of Deposit which prove to be uncollectible, provided that the crediting of said account causes:

a.   redemption’s or withdrawals to be permitted,

b.  shares to be issued, or

c.   dividends to be paid, from an account of an Investment Company.

11.  AUDIT EXPENSE COVERAGE

1.  EXCLUSIONS

A. GENERAL EXCLUSIONS APPLICABLE TO ALL INSURING CLAUSES

This bond does not directly or indirectly cover:

(1)   loss not reported to the UNDERWRITER in writing within thirty (30) days after termination of this bond as an entirety;

(2)   loss due to riot or civil commotion outside the United States of America and Canada, or any loss due to military, naval or usurped power, war or insurrection. However, this exclusion shall not apply to loss which occurs in transit in the circumstances recited in INSURING CLAUSE 3., provided that when such transit was initiated there was no knowledge on the part of any person acting for the INSURED of such riot, civil commotion, military, naval or usurped power, war or insurrection;

(3)   loss resulting from dishonest acts by any member of the Board of Directors or Board of Trustees of the INSURED who is not an Employee, acting alone or in collusion with others;

(4)   loss, or that part of any loss, resulting solely from any violation by the INSURED or by any Employee of any law, or rule, or regulation pursuant to any law regulating:

a.   the issuance, purchase or sale of securities,

b.  transactions on security or commodity exchanges or the over-the-counter markets,

1.  EXCLUSIONS
(continued)

c.   investment companies, or

d.  investment advisors;

(5)   loss of potential income including, but not limited to, interest and dividends not realized by the INSURED or by any customer of the INSURED;

(6)   loss resulting from indirect or consequential loss of any nature;

(7)   damages of any type for which the INSURED is legally liable, except compensatory damages (but not multiples thereof) arising from a loss covered under this bond;

(8)   loss resulting from the effects of nuclear fission or fusion or radioactivity;

(9)   loss resulting from the theft of confidential information, material or data;

(10)  costs, fees and expenses incurred by the INSURED in establishing the existence or amount of loss under this bond, provided however, this EXCLUSION shall not apply to INSURING CLAUSE 11.;

(11)  loss resulting from voice requests or instructions received over the telephone, provided however, this EXCLUSION shall not apply to INSURING CLAUSE 7. or 9.

B. SPECIFIC EXCLUSIONS APPLICABLE TO ALL INSURING CLAUSES EXCEPT INSURING CLAUSE 1.

This bond does not directly or indirectly cover:

(1)   loss caused by an Employee, provided, however, this EXCLUSION shall not apply to loss covered under INSURING CLAUSE 2. or 3. which results directly from misplacement, mysterious unexplainable disappearance, or damage to or destruction of Property;

(2)   loss through the surrender of Property away from an office of the INSURED as a result of a threat:

a.   to do bodily harm to any person, except loss of Property in transit in the custody of any person acting as messenger of the INSURED, provided that when such transit was initiated there was no knowledge by the INSURED of any such threat, and provided further that this EXCLUSION shall not apply to INSURING CLAUSE 7., or

b.  to do damage to the premises or property of the INSURED;

(3)   loss involving Items of Deposit which are not finally paid for any reason provided however, that this EXCLUSION shall not apply to INSURING CLAUSE 10.;

(4)   loss resulting from payments made or withdrawals from any account involving erroneous credits to such account;

(5)   loss of Property while in the mail:

(6)   loss of Property while in the custody of a Transportation Company, provided however, that this EXCLUSION shall not apply to INSURING CLAUSE 3.;

(7)   loss resulting from the failure for any reason of a financial or depository institution, its receiver or other liquidator to pay or deliver funds or other Property to the INSURED provided further that this

1.  EXCLUSIONS
(continued)

C. EXCLUSIONS APPLICABLE TO ALL INSURING CLAUSES EXCEPT INSURING CLAUSES 1., 4., 5.

This bond does not directly or indirectly cover:

(1)   loss resulting from forgery or any alteration;

(2)   loss resulting from the complete or partial non-payment of or default on any loan whether such loan was procured in good faith or through trick, artifice, fraud or false pretenses;

(3)   loss involving a counterfeit provided, however, this EXCLUSION shall not apply to INSURING CLAUSE 5. or 6.

2.  DISCOVERY

a.   facts which may subsequently result in a loss of a type covered by this bond, or

b.  an actual or potential claim in which it is alleged that the INSURED is liable to a third party, regardless of when the act or acts causing or contributing to such loss occurred, even though the amount of loss does not exceed the applicable DEDUCTIBLE AMOUNT or the exact amount or details of loss may not then be known.

3.  NOTICE TO UNDERWRITER - PROOF - LEGAL PROCEEDINGS AGAINST UNDERWRITER

a.   At the earliest practicable moment, not to exceed thirty (30) days after discovery of loss, the INSURED shall give the UNDERWRITER notice thereof.

b.  Within six (6) months after such discovery, the INSURED shall furnish to the UNDERWRITER proof of loss, duly sworn to, with full particulars.

c.   Securities listed in a proof of loss shall be identified by certificate or bond numbers, if issued with them.

d.  Legal proceedings for the recovery of any loss under this bond shall not be brought prior to the expiration of sixty (60) days after the proof of loss is filed with the UNDERWRITER or after the expiration of twenty- four (24) months from the discovery of such loss.

e.   This bond affords coverage only in favor of the INSURED. No claim, suit, action or legal proceedings shall be brought under this bond by anyone other than the INSURED.

4.  LIMIT OF LIABILITY/NON - REDUCTION AND NON-ACCUMULATION OF LIABILITY

At all times prior to termination of this bond, this bond shall continue in force for the limit stated in the applicable sections of ITEM 3. of the DECLARATIONS, notwithstanding any previous loss for which the UNDERWRITER may have paid or be liable to pay under this bond provided, however, that the liability of the UNDERWRITER under this bond with respect to all loss resulting from:

a.   any one act of burglary, robbery or hold-up, or attempt thereat, in which no Employee is concerned or implicated, or

4.  LIMIT OF LIABILITY/NON - REDUCTION AND NON-ACCUMULATION OF LIABILITY
(continued)

b.  any one unintentional or negligent act on the part of any one person resulting in damage to or destruction or misplacement of Property, or

c.   all acts, other than those specified in a. above, of any one person, or

d.  any one casualty or event other than those specified in a., b., or c. above,

i.   directly or indirectly aid in any way wrongful acts of any other person or persons, or

ii.  permit the continuation of wrongful acts of any other person or persons

5.  DEDUCTIBLE

6.  COURT COSTS AND ATTORNEYS’ FEES

a.   an Employee admits to being guilty of Larceny or Embezzlement,

b.  an Employee is adjudicated to be guilty of Larceny or Embezzlement, or

c.   in the absence of a. or b. above, an arbitration panel agrees, after a review of an agreed statement of facts between the UNDERWRITER and the INSURED, that an Employee would be found guilty of Larceny or Embezzlement if such Employee were prosecuted.

6.  COURT COSTS AND ATTORNEYS’ FEES
(continued)

7.  VALUATION OF PROPERTY

8.  VALUATION OF PREMISES AND FURNISHINGS

9.  SECURITIES SETTLEMENT

9.  SECURITIES SETTLEMENT
(continued)

The indemnity required from the INSURED under the terms of this Section against all loss, cost or expense arising from the replacement of securities by the UNDERWRITER’S indemnity shall be:

a.   for securities having a value less than or equal to the applicable DEDUCTIBLE AMOUNT one hundred (100% percent);

b.  for securities having a value in excess of the DEDUCTIBLE AMOUNT but within the applicable LIMIT OF LIABILITY- the percentage that the DEDUCTIBLE AMOUNT bears to the value of the securities;

c.   for securities having a value greater than the applicable LIMIT OF LIABILITY the percentage that the DEDUCTIBLE AMOUNT and portion in excess of the applicable LIMIT OF LIABILITY bears to the value of the securities.

10.  SUBROGATION - ASSIGNMENT-RECOVERY

11.  COOPERATION OF INSURED

12.  OTHER INSURANCE

13.  ADDITIONAL COMPANIES INCLUDED AS INSURED

If more than one corporation, or Investment Company, or any combination of them is included as the INSURED herein:

a.   The total liability of the UNDERWRITER under this bond for loss or losses sustained by any one or more or all of them shall not exceed the limit for which the UNDERWRITER would be liable under this bond if all such losses were sustained by any one of them.

b.  Only the first named INSURED shall be deemed to be the sole agent of the others for all purposes under this bond, including but not limited to the giving or receiving of any notice or proof required to be given and for the purpose of effecting or accepting any amendments to or termination of this bond. The UNDERWRITER shall furnish each Investment Company with a copy of the bond and with any amendment thereto, together with a copy of each formal filing of claim by any other named INSURED and notification of the terms of the settlement of each such claim prior to the execution of such settlement.

c.   The UNDERWRITER shall not be responsible for the proper application of any payment made hereunder to the first named INSURED.

d.  Knowledge possessed or discovery made by any partner, director, trustee, officer or supervisory employee of any INSURED shall constitute knowledge or discovery by all the INSUREDS for the purposes of this bond.

e.   If the first named INSURED ceases for any reason to be covered under this bond, then the INSURED next named shall thereafter be considered as the first named INSURED for the purpose of this bond.

14.  ADDITIONAL OFFICES OR EMPLOYEES - CONSOLIDATION, MERGER OR PURCHASE OR ACQUISITION OF ASSETS OR LIABILITIES - NOTICE TO UNDERWRITER

If the INSURED, other than an Investment Company, while this bond is in force, merges or consolidates with, or purchases or acquires assets or liabilities of another institution, the INSURED shall not have the coverage afforded under this bond for loss which:

a.   has occurred or will occur in offices or on premises, or

b.  has been caused or will be caused by an employee or employees, or

c.   has arisen or will arise out of the assets or liabilities acquired unless the INSURED

i.   gives the UNDERWRITER written notice of the proposed consolidation, merger or purchase or acquisition of assets or liabilities prior to the proposed effective date of such action, and

ii.  obtains the written consent of the UNDERWRITER to extend some or all of the coverage provided by this bond to such additional exposure, and

iii.   on obtaining such consent pays to the UNDERWRITER an additional premium.

15.  CHANGE OF CONTROL - NOTICE TO UNDERWRITER

a.   the names of the transferors and transferees (or the names of the beneficial owners if the voting securities are registered in another name),

b.  the total number of voting securities owned by the transferors and the transferees (or the beneficial owners), both immediately before and after the transfer, and

c.   the total number of outstanding voting securities.

16.  REPRESENTATIONS MADE BY INSURED

17.  TERMINATION - CANCELLATION

Coverage will terminate as to any Employee:

a.   immediately on any partner, director, trustee, or officer or supervisory employee not acting in collusion with such Employee, learning of any dishonest act committed by such Employee at any time, whether in the employment of the INSURED or otherwise, whether or not such act is of the type covered under this bond, and whether against the INSURED or any other person or entity, or

17.  TERMINATION - CANCELLATION (continued)

b.  sixty (60) days after the receipt by each INSURED and by the Securities and Exchange Commission, Washington, D.C., of a written notice from the UNDERWRITER of its desire to terminate this bond as to such Employee.

18.  CHANGE OR MODIFICATION

DEFINITIONS

1.  computers, with related peripheral and storage components, wherever located,

2.  systems and applications software,

3.  terminal devices, and

4.  related communication networks by which data are electronically collected, transmitted, processed, stored, and retrieved.

1.  an officer of the INSURED,

2.  a natural person while in the regular service of the INSURED at any of the INSURED’S offices and compensated directly by the INSURED through its payroll system and subject to the United States Internal Revenue Service Form W-2 or equivalent income reporting plans of other countries, and whom the INSURED has the right to control and direct both as to the result to be accomplished and details and means by which such result is accomplished in the performance of such service,

3.  an attorney retained by the INSURED and an employee of such attorney while either is performing legal services for the INSURED,

4.  a person provided by an employment contractor to perform clerical, premises maintenance or security duties for the INSURED under the INSURED’S supervision at any of the INSURED’S offices or premises,

5.  an employee of an institution merged or consolidated with the INSURED prior to the effective date of this bond,

6.  a guest student pursuing studies or performing duties in any of the INSURED’S offices,

7.  each natural person, partnership or corporation authorized by written agreement with the INSURED to perform services as electronic data processor of checks or other accounting records related to such checks but only while such person, partnership or corporation is actually performing such services and not:

a.   creating, preparing, modifying or maintaining the INSURED’S computer software or programs, or

b.  acting as transfer agent or in any other agency capacity in issuing checks, drafts or securities for the INSURED,

8.  a director or trustee of the INSURED, but only while performing acts within the scope of the customary and usual duties of any officer or employee of the INSURED or while acting as a member of any committee duly elected or appointed to examine or audit or have custody of or access to Property of the INSURED, or

9.  any partner, officer or employee of an investment adviser, an underwriter (distributor), a transfer agent or shareholder accounting recordkeeper, or an administrator, for an Investment Company while performing acts coming within the scope of the customary and usual duties of an officer or employee of an Investment Company or acting as a member of any committee duly elected or appointed to examine, audit or have custody of or access to Property of an Investment Company.

a.   which is not an “affiliated person” (as defined in Section 2(a) of the Investment Company Act of 1940) of an Investment Company or of the investment adviser or underwriter (distributor) of such Investment Company, or

b.  which is a “bank” (as defined in Section 2(a) of the Investment Company Act of 1940).

Chairman

Any insured under this Policy, or any person or entity claiming the benefits of such insured, who is or becomes a Specially Designated National or Blocked Person or who is otherwise subject to U.S. economic or trade sanctions;

Any claim or suit that is brought in a Sanctioned Country or by a Sanctioned Country Government, where any action in connection with such claim or suit is prohibited by U.S. economic or trade sanctions;

Any claim or suit that is brought by any Specially Designated National or Blocked Person or any person or entity who is otherwise subject to U.S. economic or trade sanctions;

Property that is located in a Sanctioned Country or that is owned by, rented to or in the care, custody or control of a Sanctioned Country Government, where any activities related to such property are prohibited by U.S. economic or trade sanctions; or

Property that is owned by, rented to or in the care, custody or control of a Specially Designated National or Blocked Person, or any person or entity who is otherwise subject to U.S. economic or trade sanctions.

G-145184-A (Ed. 6/03)

Page 1 of 1

Complete Only When This Endorsement Is Not Prepared with the Policy

or is Not to be Effective with the Policy

CNA INSURANCE COMPANIES

PRO-4144-A

(ED. 01/00)

Complete Only When This Endorsement Is Not Prepared with the Policy

or is Not to be Effective with the Policy

CNA INSURANCE COMPANIES

PRO-4144-A

(ED. 01/00)