PENSCO Trust Company Valuation Reporting Policy. Each account statement the Account Owner receives reflects the reported value of the account assets, all transactions that have been processed by PENSCO Trust Company and all fees (if any) that have been charged. PENSCO Trust Company reports the value of account assets as accurately as possible using the resources available to it. The Values listed on the PENSCO Trust Company account statement may differ from values listed on related broker- age account or other asset sponsor statements. Individual values for securities that have publicly-quoted prices are reported based solely on such quoted prices, which are obtained from a quotation service or other source generally available to the public. PENSCO Trust Company does not guarantee the accuracy of prices obtained from quotation services or other sources, or the length of availability of such prices. Values for alternative assets are generally reported at their origi- nal offering price to investors. PENSCO Trust Company classi- fies alternative assets into two types: equity and debt. Assets that PENSCO Trust Company has classified as alternative equities include, but are not limited to, nonservice-priced private partner- ship or limited liability company interests, private common and preferred stock and private real estate investment trusts. Assets that PENSCO Trust Company has classified as alternative debt include, but are not limited to, mortgages/ deeds of trust, corpo- rate and private partnership notes and other private debt offerings. Information regarding whether an alternative asset has been clas- sified as equity or debt is available upon request. On an annual basis (or more frequently if requested), PENSCO Trust Company requests updated valuation information from such persons as asset sponsors, general partners or managing members of private partnership or limited liability company interests, officers of private corporations and sponsors of other assets it has classi- fied as alternative equities. PENSCO Trust Company will normally adjust the reported value of an alternative equity asset if the general partner, officer or sponsor provides PENSCO Trust Company with an updated value. If it does not receive an updated value from the general partner, officer or sponsor, PENSCO Trust Company may require that the Account Owner obtain and provide to PENSCO Trust Company an updated value from the asset sponsor, or provide an independent appraisal for their asset. If the Account Owner fails to provide t...
