This statement constitutes Amendment No. 13 to the Schedule 13D filed on October 20, 2004. Except as specifically set forth herein, the Schedule 13D remains unmodified.
ITEM 4 IS AMENDED AS FOLLOWS: Item 4. Purpose of Transaction. The filing persons previously formed an informal group (the "Coalition for Shareholder Democracy"), originally submitted to the U.S. Securities and Exchange Commisssion on Schedule 13D on March 13, 2006, and Philip Goldstein, Andrew Dakos, Bulldog Investors and Karpus previously formed the Bulldog Investors-Karpus Group, originally submitted to the U.S. Securities and Exchange Commisssion on Schedule 13D on February 1, 2006, each with the objective of affording all shareholders of the issuer an opportunity to obtain net asset value for their shares. GF recently issued a press release on December 21, 2007 that it was commencing an in-kind tender offer for approximately 20% of its outstanding shares of common stock at a price per share equal to 96% of net asset value per share as of the close of regular trading on the New York Stock Exchange on the business day after the day the offer expires. Because the Coalition for Shareholder Democracy and previously formed Bulldog Investors-Karpus Group sufficiently satisfied their stated objectives, the Coalition and previously formed Bulldog Investors-Karpus Group no longer have an objective and have consequently been terminated. ITEM 5 IS AMENDED AS FOLLOWS: Item 5. Interest in Securites of the Issuer. (a) and (b) As per the semi-annual report dated June 30, 2007 there were 24,804,698 shares of GF outstanding. The percentage set forth in this item (5a) was derived using such number. The Coalition for Shareholder Democracy is deemed to be the beneficial owners of 4,940,190 shares of GF or 19.91% of the outstanding shares. Bulldog Investors, Phillip Goldstein and Andrew Dakos are deemed to be the beneficial owner of 2,113,699 shares of GF or 8.52% of the outstanding shares. Power to vote or dispose securities resides with Phillip Goldstein, Andrew Dakos or with the beneficial owners of managed accounts. Karpus Investment Management represents beneficial ownership of 1,597,691 shares or 6.44% of the outstanding shares. Apogee Partners L.P. is a hedge fund managed by Karpus Investment Management, of which George W. Karpus owns 1.62%, Dana R. Consler owns 0.74% and Cody B. Bartlett Jr. owns 0.53%. Apogee Partners L.P. owns 101,000 shares of GF. Canalview Partners L.P. is also a hedge fund managed by Karpus Investment Managment, of which Kathy Crane owns 0.69%, Karpus Profit Sharing Plan owns 4.593% and Thomas Duffy owns 0.08%. Canalview Partners L.P. currently owns 74,000 shares of GF. Garnsey Partners L.P. is also a hedge fund managed by Karpus Investment Management, of which George W. Karpus owns 6.68% and Kathy Crane owns 0.08%. Garnsey Partners L.P. currently owns 59,240 shares of GF. Additionally, Karpus Investment Management Profit Sharing Plan currently owns 8,100 shares, Kathy Crane currently owns 235 shares, George W. Karpus currently owns 16,209 shares, Dana R. Consler currently owns 835 shares, Jo Ann Van Degriff currently owns 3,335 shares and Karpus Investment Managemend Defined Benefit Plan currently owns 530 shares. None of the other principals of KIM presently owns shares of GF. Colin Kingsnorth and Andrew Pegge have the authority to dispose and/or vote shares beneficially owned by the following entities:Value Catalyst Fund Limited 274,114 Laxey Investors Limited 174,816 Laxey Investors LP 142,876 Laxey Universal Value LP 60,482 LP Value Ltd 263,298 Altima Sicav Plc 118,804 Sprugos 60,450 LEAF 36,860 LPALP 97,100(c) During the last sixty days the following shares of common stock were traded: Karpus
Date Shares Price 10/26/2007 (5,655) $18.17 10/29/2007 4,715 $18.23 10/30/2007 190 $18.18 10/30/2007 (1,620) $18.20 10/31/2007 1,000 $18.35 10/31/2007 (10,722) $18.40 11/1/2007 2,000 $18.04 11/1/2007 (3,900) $18.20 11/2/2007 4,300 $17.98 11/5/2007 4,800 $17.85 11/5/2007 (10) $18.01 11/6/2007 1,355 $18.11 11/6/2007 (1,030) $18.14 11/7/2007 4,000 $18.04 11/8/2007 5 $18.00 11/8/2007 (455) $18.23 11/9/2007 1,720 $18.16 11/13/2007 (2,415) $17.60 11/14/2007 (500) $17.82 11/15/2007 600 $17.40 11/19/2007 7,555 $16.87 11/20/2007 2,525 $16.72 11/20/2007 (3,571) $16.71 11/21/2007 24,100 $16.14 11/21/2007 (840) $16.15 11/26/2007 88 $16.19 11/27/2007 (410) $16.19 11/30/2007 6,325 $17.00 11/30/2007 (730) $17.04 12/3/2007 4,000 $16.78 12/4/2007 10,000 $17.12 12/6/2007 5,825 $17.28 12/7/2007 22,822 $17.40 12/7/2007 (11,408) $17.45 12/10/2007 1,000 $17.65 12/10/2007 (630) $17.69 12/11/2007 13,530 $17.52 12/11/2007 (400) $17.53 12/12/2007 650 $17.79 12/12/2007 (3,585) $17.80 12/13/2007 765 $17.37 12/14/2007 13,690 $17.07 12/14/2007 (9,060) $17.08 12/17/2007 125 $16.53 12/17/2007 (400) $16.65 12/18/2007 640 $16.56 12/18/2007 (3,045) $16.58 12/19/2007 (3,355) $16.36 12/20/2007 730 $16.44 12/21/2007 4,200 $16.85 12/21/2007 (1,925) $16.81 12/24/2007 1,400 $16.99 12/24/2007 (1,200) $17.00 12/26/2007 2,200 $17.10 12/26/2007 (7,630) $17.15
Bulldog Investors, Phillip Goldstein and Andrew Dakos
Date Shares Price NoneLaxey, Andrew Pegge and Colin Kingsnorth
Value Catalyst Fund Limited Date Shares Price 11/21/2007 (40,000) $16.17(d) Beneficiaries of managed accounts are entitled to receive any dividends or sales proceeds. ITEM 6 IS AMENDED AS FOLLOWS: Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. The filing persons previously formed an informal group (the "Coalition for Shareholder Democracy"), originally submitted to the U.S. Securities and Exchange Commisssion on Schedule 13D on March 13, 2006, and Philip Goldstein, Andrew Dakos, Bulldog Investors and Karpus previously formed the Bulldog Investors-Karpus Group, originally submitted to the U.S. Securities and Exchange Commisssion on Schedule 13D on February 1, 2006, each with the objective of affording all shareholders of the issuer an opportunity to obtain net asset value for their shares. The Coalition for Shareholder Democracy beneficially owns 4,940,190 shares or 19.91% of the issuer's outstanding shares. The members of the Coalition for Shareholder Democracy have not agreed to jointly take any specific measures to achieve the group's objective and they have no agreement to buy, sell, hold or vote their shares together. Any member of The Coalition for Shareholder Democracy may take actions it deems to be consistent with the group's objective without the consent of any other members of the group. In addition, any member of the Coalition for Shareholder Democracy may act in the best interests of its own clients regardless of whether such action is in the best interest of the group. GF recently issued a press release on December 21, 2007 that it was commencing an in-kind tender offer for approximately 20% of its outstanding shares of common stock at a price per share equal to 96% of net asset value per share as of the close of regular trading on the New York Stock Exchange on the business day after the day the offer expires. Because the Coalition for Shareholder Democracy and previously formed Bulldog Investors-Karpus Group sufficiently satisfied their stated objectives, the Coalition and previously formed Bulldog Investors-Karpus Group no longer have an objective and have consequently been terminated. Item 7. Materials to be Filed as Exhibits. Not applicable.
Karpus Management, Inc. By: /s/ Name: Dana R. Consler Title: Senior Vice-President Date: January 2, 2008By: /s/ Name: Phillip Goldstein Date: January 2, 2008By: /s/ Name: Andrew Dakos Date: January 2, 2008By: /s/ Name: Colin Kingsnorth Date: January 2, 2008By: /s/ Name: Andrew Pegge Date: January 2, 2008