Common use of Portfolio Accounting Services Clause in Contracts

Portfolio Accounting Services. (1) Maintain portfolio records on a trade date +1 basis using security trade information communicated from the investment manager on a timely basis. (2) For each valuation date, obtain prices from a pricing source approved by the Board of Trustees and apply those prices to the portfolio positions. For those securities where market quotations are not readily available, the Board of Trustees shall approve, in good faith, the method for determining the fair value for such securities. (3) Identify interest and dividend accrual balances as of each valuation date and calculate gross earnings on investments for the accounting period. (4) Determine gain/loss on security sales and identify them as to short-short, short- or long-term status; account for periodic distributions of gains or losses to shareholders and maintain undistributed gain or loss balances as of each valuation date.

Portfolio Accounting Services. (1) Maintain portfolio records on a trade date +1 basis using security trade information communicated from the investment manager on a timely basis. (2) For each valuation date, obtain prices from a pricing source approved by the Board of Trustees of the Trust (the "Board") and apply those prices to the portfolio positions. For those securities where market quotations are not readily available, the Board of Trustees shall approve, in good faith, the method for determining the fair value for such securities. (3) Identify interest and dividend accrual balances as of each valuation date and calculate gross earnings on investments for the accounting period. (4) Determine gain/loss on security sales and identify them as to short-short, short- or long-term status; account for periodic distributions of gains or losses to shareholders and maintain undistributed gain or loss balances as of each valuation date.