RPA
On September 26, 2008, the fund entered into an Agreement
with another registered investment company (each a Seller)
managed by Xxxxxx Management. Under the Agreements, the
Seller sold to the fund the right to receive, in the
aggregate, $1,080,163 in net payments from Xxxxxx Brothers
Special Financing, Inc. in connection with certain
terminated derivatives transactions (the Receivable), in
exchange for an initial payment plus (or minus) additional
amounts based on the funds ultimate realized gain (or loss)
with respect to the Receivable. The Receivable will be
offset against the funds net payable to Xxxxxx Brothers
Special Financing, Inc. The Agreement, which is included in
the statement of assets and liabilities, is valued at fair
value following procedures approved by the Trustees. All
remaining payments under the agreement will be recorded as
realized gain or loss.