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 Fund’s Sponsor. (2) For each valuation date, obtain prices from a pricing source approved by the Sponsor of the Trust and apply those prices to the portfolio positions. For those securities where market quotations are not readily available, the Sponsor shall approve, in good faith, procedures 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 each accounting period. (4) Determine gain/loss on security sales and identify them as short-term or long-term; account for periodic distributions of gains or losses to shareholders and maintain undistributed gain or loss balances as of each valuation date. (5) On a daily basis, reconcile cash of the Fund with the Fund’s custodian. (6) Transmit a copy of the portfolio valuation to the Fund’s Sponsor daily. (7) Review the impact of current day’s activity on a per share basis, and review changes in market value.

Portfolio Accounting Services. (1) Maintain portfolio records on a trade date+1 basis using security trade information communicated from the Fund’s sponsor (“Sponsor”). (2) For each valuation date, obtain prices from a pricing source approved by the Sponsor of the Trust and apply those prices to the portfolio positions. For those securities where market quotations are not readily available, the Sponsor Trust shall approve, in good faith, procedures 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 each accounting period. (4) Determine gain/loss on security sales and identify them as short-term or long-term; account for periodic distributions of gains or losses to shareholders and maintain undistributed gain or loss balances as of each valuation date. (5) On a daily basis, reconcile cash of the Fund with the Fund’s custodian. (6) Transmit a copy of the portfolio valuation to the Fund’s Sponsor daily. (7) Review the impact of current day’s activity on a per share basis, and review changes in market value.