Inflation Target Recovery Fund Inc.

A directive was issued pursuant to section 40(1)(b) of the Financial Services Commission Act, 2001 to the following Funds under the management of Castlestone Management Incorporated; namely, Aliquot Agriculture Fund Inc. Global Property Growth & Income REITS Fund Inc. Aliquot Commodity Fund Inc. Inflation Target Recovery Fund Inc. Aliquot Gold & Precious Metals Equities Fund Inc. Intelligent Portfolio (IQ-Asset Allocation) Inc. Aliquot Gold Bullion Inc. Next 11 Emerging Fund Inc. Aliquot Precious Metals Inc. Porcupine Absolute Return Fund Inc. Balanced Opportunity Inc. Systematic Growth Fund Inc. Collection of Modern Art Inc. World Index Growth and Income Fund Inc. Concerto Alternative Alpha Inc. Consistent Return (Cash Management) Fund Inc. Emerging Markets Growth and Income Fund Inc. Porcupine Global Macro Plus Inc. requiring that the Funds provide to the Commission on a weekly basis full details of their activities, to provide the Commission with a proposal to implement more robust internal controls, and to refrain from making any payment of fees and expenses without the prior written consent of the Commission except for the payment of fees relating to the provision of fund administration services, brokerage, custody services, and audit and legal services.