The plan would provide at least $:25 million of new funds.
The new funds will keep the company running for at least six months, he said.
"I think they were also of the view that Congress might not provide new funds without significant changes."
The Administration is expected to ask for new funds this month.
In 2007 the firm raised a new fund of $220 million.
He did not say how many jobs the new fund would create.
What features can give some new funds an edge over others?
The sales charge on the new fund is 5.75 percent.
The new funds have often followed a pattern, he said.
The new fund was hit hard - losing 17 percent in its first two months.