-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, CqHL8sJ8CRr4+J0fxhernQyRI1n2zIYzOz7W+U1kB8sTTkAsxVxAfnLJkxs9W40+ FohkqyrkPPiDi5y2xHcnDQ== 0000835597-95-000004.txt : 19950426 0000835597-95-000004.hdr.sgml : 19950426 ACCESSION NUMBER: 0000835597-95-000004 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 19950228 FILED AS OF DATE: 19950425 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEI INTERNATIONAL TRUST CENTRAL INDEX KEY: 0000835597 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: MA FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-05601 FILM NUMBER: 95530962 BUSINESS ADDRESS: STREET 1: 2 OLIVER ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8003425734 MAIL ADDRESS: STREET 1: SEI INTERNATIONAL TRUST STREET 2: 680 E SWEDESFORD RD CITY: WAYNE STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: SEI WEALTH MANAGEMENT TRUST DATE OF NAME CHANGE: 19900129 NSAR-B 1 N-SAR (3.0.A) PAGE 1 000 B000000 02/28/95 000 C000000 0000835597 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 3.0.a 000 J000000 U 001 A000000 SEI INTERNATIONAL TRUST 001 B000000 811-5601 001 C000000 8003425734 002 A000000 2 OLIVER STREET 002 B000000 BOSTON 002 C000000 MA 002 D010000 02109 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 Y 007 B000000 5 007 C010100 1 007 C020100 CORE INTERNATIONAL EQUITY PORTFOLIO 007 C030100 N 007 C010200 2 007 C020200 INTERNATIONAL FIXED INCOME PORTFOLIO 007 C030200 N 007 C010300 3 007 C020300 EUROPEAN EQUITY PORTFOLIO 007 C030300 N 007 C010400 4 007 C020400 PACIFIC BASIN EQUITY PORTFOLIO 007 C030400 N 007 C010500 5 007 C020500 EMERGING MARKETS EQUITY PORTFOLIO 007 C030500 N 007 C010600 6 007 C010700 7 007 C010800 8 007 C010900 9 007 C011000 10 011 A00AA01 SEI FINANCIAL SERVICES CORPORATION 011 B00AA01 8-0000 011 C01AA01 WAYNE 011 C02AA01 PA 011 C03AA01 19087 013 A00AA01 PRICE WATERHOUSE LLP 013 B01AA01 PHILADELPHIA 013 B02AA01 PA 013 B03AA01 19103 PAGE 2 013 B04AA01 4894 014 A00AA01 S.G. WARBURG & COMPANY, INC. 014 B00AA01 8-0000 014 A00AA02 JAMES CAPEL, INC. 014 B00AA02 8-0000 014 A00AA03 YAMAICHI INTERNATIONAL 014 B00AA03 8-0000 018 00AA00 Y 019 A00AA00 Y 019 B00AA00 5 019 C00AA00 SEIFINSVCO 020 A000001 MORGAN STANLEY 020 B000001 13-2655998 020 C000001 226 020 A000002 JAMES CAPEL 020 B000002 52-1348224 020 C000002 133 020 A000003 INSTINET LTD 020 B000003 13-3443395 020 C000003 126 020 A000004 BARCLAYS DE ZOETE WEDD 020 B000004 13-3551367 020 C000004 121 020 A000005 MERRILL LYNCH 020 B000005 13-5674085 020 C000005 114 020 A000006 UBS SECURITIES 020 B000006 13-2932996 020 C000006 111 020 A000007 WARBURG SECURITIES 020 B000007 13-2671492 020 C000007 73 020 A000008 GOLDMAN SACHS 020 B000008 13-5108880 020 C000008 68 020 A000009 CROSBY SECURITIES 020 B000009 13-5674085 020 C000009 63 020 A000010 J.B. WERE 020 C000010 42 021 000000 1731 022 A000001 J.P. MORGAN 022 B000001 13-3224016 022 C000001 253255 022 D000001 673 022 A000002 GOLDMAN SACHS 022 B000002 13-5108880 022 C000002 31065 022 D000002 45928 022 A000003 SALOMON BROTHERS 022 B000003 13-3082694 PAGE 3 022 C000003 24922 022 D000003 22437 022 A000004 UBS PHILLIPS & DREW 022 B000004 13-2932996 022 C000004 12010 022 D000004 9478 022 A000005 CHASE MANHATTAN 022 B000005 13-6022158 022 C000005 17911 022 D000005 2 022 A000006 MERRILL LYNCH 022 B000006 13-5674085 022 C000006 7779 022 D000006 6593 022 A000007 BARCLAYS DE ZOETE WEDD 022 B000007 13-3551367 022 C000007 7130 022 D000007 5303 022 A000008 WARBURG SSECURITIES 022 B000008 13-2671492 022 C000008 8295 022 D000008 2087 022 A000009 CREDIT COMMERCIAL DE FRANCE 022 C000009 7548 022 D000009 2498 022 A000010 BANKERS TRUST 022 B000010 13-3311934 022 C000010 4615 022 D000010 3371 023 C000000 427982 023 D000000 130400 054 A00AA00 N 054 B00AA00 N 054 C00AA00 N 054 D00AA00 N 054 E00AA00 N 054 F00AA00 N 054 G00AA00 N 054 H00AA00 N 054 I00AA00 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A000300 0 075 B000300 24652 076 000300 0.00 028 A010400 3229 028 A020400 0 028 A030400 0 028 A040400 2 028 B010400 13174 028 B020400 0 028 B030400 0 028 B040400 156 028 C010400 2340 028 C020400 0 028 C030400 0 028 C040400 272 028 D010400 4576 028 D020400 0 028 D030400 0 028 D040400 2614 028 E010400 3777 028 E020400 0 028 E030400 0 028 E040400 4238 028 F010400 5040 028 F020400 0 PAGE 14 028 F030400 0 028 F040400 3683 028 G010400 32136 028 G020400 0 028 G030400 0 028 G040400 10965 028 H000400 0 042 A000400 0 042 B000400 0 042 C000400 0 042 D000400 0 042 E000400 100 042 F000400 0 042 G000400 0 042 H000400 0 043 000400 21 044 000400 0 062 A000400 N 062 B000400 0.0 062 C000400 0.0 062 D000400 0.0 062 E000400 0.0 062 F000400 0.0 062 G000400 0.0 062 H000400 0.0 062 I000400 0.0 062 J000400 0.0 062 K000400 0.0 062 L000400 0.0 062 M000400 0.0 062 N000400 0.0 062 O000400 0.0 062 P000400 0.0 062 Q000400 0.0 062 R000400 0.0 071 A000400 37650 071 B000400 2061 071 C000400 21913 071 D000400 9 072 A000400 12 072 B000400 59 072 C000400 119 072 D000400 0 072 E000400 0 072 F000400 80 072 G000400 159 072 H000400 0 072 I000400 2 072 J000400 22 072 K000400 0 072 L000400 9 PAGE 15 072 M000400 1 072 N000400 15 072 O000400 0 072 P000400 0 072 Q000400 0 072 R000400 5 072 S000400 6 072 T000400 21 072 U000400 5 072 V000400 0 072 W000400 10 072 X000400 335 072 Y000400 76 072 Z000400 -81 072AA000400 0 072BB000400 111 072CC010400 0 072CC020400 4754 072DD010400 0 072DD020400 0 072EE000400 0 073 A010400 0.0000 073 A020400 0.0000 073 B000400 0.0000 073 C000400 0.0000 074 A000400 2062 074 B000400 0 074 C000400 0 074 D000400 0 074 E000400 109 074 F000400 30771 074 G000400 0 074 H000400 0 074 I000400 0 074 J000400 104 074 K000400 0 074 L000400 15 074 M000400 275 074 N000400 33336 074 O000400 0 074 P000400 0 074 Q000400 0 074 R010400 0 074 R020400 0 074 R030400 0 074 R040400 288 074 S000400 0 074 T000400 33048 074 U010400 3784 074 U020400 0 074 V010400 8.73 PAGE 16 074 V020400 0.00 074 W000400 0.0000 074 X000400 57 074 Y000400 0 075 A000400 0 075 B000400 23847 076 000400 0.00 008 A000501 MONTGOMERY ASSET MANAGEMENT 008 B000501 S 008 C000501 801-36790 008 D010501 SAN FRANCISCO 008 D020501 CA 008 D030501 94111 008 A000502 SEI FINANCIAL MANAGEMENT CORPORATION 008 B000502 A 008 C000502 801-24593 008 D010502 WAYNE 008 D020502 PA 008 D030502 19087 015 A000501 STATE STREET BANK 015 B000501 C 015 C010501 BOSTON 015 C020501 MA 015 C030501 02110 015 E040501 X 028 A010500 0 028 A020500 0 028 A030500 0 028 A040500 0 028 B010500 0 028 B020500 0 028 B030500 0 028 B040500 0 028 C010500 0 028 C020500 0 028 C030500 0 028 C040500 0 028 D010500 0 028 D020500 0 028 D030500 0 028 D040500 0 028 E010500 2545 028 E020500 0 028 E030500 0 028 E040500 0 028 F010500 2719 028 F020500 0 028 F030500 0 028 F040500 24 028 G010500 5264 028 G020500 0 PAGE 17 028 G030500 0 028 G040500 24 028 H000500 0 029 000500 N 030 A000500 0 030 B000500 0.00 030 C000500 0.00 034 000500 N 035 000500 0 036 B000500 0 037 000500 N 038 000500 0 039 000500 N 040 000500 Y 041 000500 Y 042 A000500 0 042 B000500 0 042 C000500 0 042 D000500 0 042 E000500 100 042 F000500 0 042 G000500 0 042 H000500 0 043 000500 1 044 000500 0 045 000500 Y 046 000500 N 047 000500 Y 048 000500 0.000 048 A010500 50000 048 A020500 1.050 048 B010500 0 048 B020500 0.700 048 C010500 0 048 C020500 0.000 048 D010500 0 048 D020500 0.000 048 E010500 0 048 E020500 0.000 048 F010500 0 048 F020500 0.000 048 G010500 0 048 G020500 0.000 048 H010500 0 048 H020500 0.000 048 I010500 0 048 I020500 0.000 048 J010500 0 048 J020500 0.000 048 K010500 0 048 K020500 0.000 PAGE 18 058 A000500 N 059 000500 Y 060 A000500 Y 060 B000500 Y 061 000500 0 062 A000500 N 062 B000500 0.0 062 C000500 0.0 062 D000500 0.0 062 E000500 0.0 062 F000500 0.0 062 G000500 0.0 062 H000500 0.0 062 I000500 0.0 062 J000500 0.0 062 K000500 0.0 062 L000500 0.0 062 M000500 0.0 062 N000500 0.0 062 O000500 0.0 062 P000500 0.0 062 Q000500 0.0 062 R000500 0.0 066 A000500 Y 066 B000500 N 066 C000500 Y 066 D000500 N 066 E000500 N 066 F000500 N 066 G000500 N 067 000500 N 068 A000500 N 068 B000500 Y 069 000500 N 070 A010500 Y 070 A020500 Y 070 B010500 Y 070 B020500 N 070 C010500 N 070 C020500 N 070 D010500 Y 070 D020500 N 070 E010500 N 070 E020500 N 070 F010500 Y 070 F020500 N 070 G010500 Y 070 G020500 N 070 H010500 Y 070 H020500 N 070 I010500 N PAGE 19 070 I020500 N 070 J010500 N 070 J020500 N 070 K010500 Y 070 K020500 Y 070 L010500 Y 070 L020500 Y 070 M010500 Y 070 M020500 Y 070 N010500 Y 070 N020500 N 070 O010500 Y 070 O020500 N 070 P010500 N 070 P020500 N 070 Q010500 N 070 Q020500 N 070 R010500 N 070 R020500 N 071 A000500 4070 071 B000500 0 071 C000500 2063 071 D000500 0 072 A000500 2 072 B000500 13 072 C000500 0 072 D000500 0 072 E000500 0 072 F000500 4 072 G000500 2 072 H000500 0 072 I000500 0 072 J000500 5 072 K000500 0 072 L000500 0 072 M000500 0 072 N000500 2 072 O000500 0 072 P000500 0 072 Q000500 0 072 R000500 1 072 S000500 0 072 T000500 1 072 U000500 0 072 V000500 0 072 W000500 3 072 X000500 18 072 Y000500 11 072 Z000500 6 072AA000500 1 072BB000500 0 PAGE 20 072CC010500 53 072CC020500 0 072DD010500 0 072DD020500 0 072EE000500 0 073 A010500 0.0000 073 A020500 0.0000 073 B000500 0.0000 073 C000500 0.0000 074 A000500 3240 074 B000500 0 074 C000500 0 074 D000500 0 074 E000500 0 074 F000500 4124 074 G000500 0 074 H000500 0 074 I000500 0 074 J000500 173 074 K000500 0 074 L000500 0 074 M000500 0 074 N000500 7537 074 O000500 2227 074 P000500 0 074 Q000500 0 074 R010500 0 074 R020500 0 074 R030500 0 074 R040500 10 074 S000500 0 074 T000500 5300 074 U010500 516 074 U020500 0 074 V010500 10.27 074 V020500 0.00 074 W000500 0.0000 074 X000500 10 074 Y000500 0 075 A000500 0 075 B000500 3041 076 000500 0.00 SIGNATURE JEFFREY A. COHEN TITLE CONTROLLER EX-27 2
6 0000835597 SEI INTERNATIONAL TRUST 010 CORE INTERNATIONAL EQUITY PORTFOLIO CLASS A 1000 US DOLLARS YEAR FEB-28-1995 MAR-01-1994 FEB-28-1995 1 324466 326295 3711 3220 0 333226 1704 0 2968 4672 0 318743 34249 45781 0 (31) 17784 0 773 328554 9792 1985 0 (5640) 6137 36204 (48171) (30968) 0 0 (23038) 0 32225 (45194) 1437 (174944) 1278 6908 0 0 1516 0 5717 472580 11.00 .15 (.97) 0 (.59) 0 9.59 1.19 0 0
EX-27 3
6 0000835597 SEI INTERNATIONAL TRUST 011 CORE INTERNATIONAL EQUITY PORTFOLIO PROVANTAGE FUNDS 1000 US DOLLARS YEAR FEB-28-1995 MAY-01-1994 FEB-28-1995 1 324466 326295 3711 3220 0 333226 1704 0 2968 4672 0 318743 5 0 0 (31) 17784 0 773 328554 9792 1985 0 (5640) (6137) 36204 (48171) (30968) 0 0 (2) 0 5 0 0 (174944) 0 0 0 0 1516 0 5717 472580 10.81 .01 (.67) 0 (.59) 0 9.56 1.47 0 0
EX-27 4
6 0000835597 SEI INTERNATIONAL TRUST 020 INTERNATIONAL FIXED INCOME 1000 US DOLLARS YEAR FEB-28-1995 MAR-01-1994 FEB-28-1995 1 39218 40280 4434 2614 0 47328 4582 0 166 4748 0 41893 4086 2315 454 0 0 (927) 1534 42580 0 1946 0 (343) 1603 (927) 1733 3079 0 (2335) (67) 0 3504 (1882) 150 18902 135 67 0 0 103 0 444 34270 10.23 .43 .40 (.62) (.02) 0 10.42 1.00 0 0
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6 0000835597 SEI INTERNATIONAL TRUST 030 EUROPEAN EQUITY PORTFOLIO 1,000 US DOLLARS YEAR FEB-28-1995 APR-29-1994 FEB-28-1995 1 34072 34197 602 3393 0 38192 1784 0 130 1914 0 36439 3663 0 0 (10) 0 (165) 112 36278 398 80 0 (267) 211 (165) 112 4 0 (165) 0 0 4171 (523) 15 36278 0 0 0 0 67 0 324 24652 10.00 .06 (.11) (.05) 0 0 9.90 1.3 0 0
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6 0000835597 SEI INTERNATIONAL TRUST 040 PACIFIC BASIN EQUITY PORTFOLIO 1000 YEAR FEB-28-1995 APR-29-1994 FEB-28-1995 35553 30880 119 2337 0 33336 0 0 288 288 0 37766 3784 0 0 0 0 (37) (4754) 33048 122 59 0 (259) (81) (37) (4754) (4946) 0 0 0 0 5018 (1234) 0 33048 0 0 0 0 80 0 335 23847 10.00 (.02) (1.25) 0 0 0 8.73 1.30 0 0
EX-27 7
6 0000835597 SEI INTERNATIONAL TRUST 050 EMERGING MARKETS EQUITY PORTFOLIO 1000 YEAR FEB-28-1995 JAN-17-1995 FEB-28-1995 4070 4124 0 3413 0 7537 2227 0 10 2237 0 5240 516 0 6 0 0 0 53 5300 0 13 0 (7) 6 0 53 60 0 0 0 0 518 (2) 0 5300 0 0 0 0 4 0 18 3041 10.00 .01 .26 0 0 0 10.27 1.95 0 0
EX-99.77B 8 To the Board of Trustees SEI International Trust We have reviewed the accompanying management description of the specific control objectives and the control procedures that achieve those objectives of the Core International Equity Portfolio (the "Portfolio") of SEI International Trust (the "Fund") insofar as they relate to those portions of its system for calculating the net asset value and dividends and distributions which are unique to the allocation of results of operations to the two classes of outstanding shares of the Portfolio. Our review, covering the period May 1, 1994 through February 28, 1995, include such tests as we considered necessary whether the procedures described and the extent of compliance with them were sufficient to provide reasonable, but not absolute, assurance that the specific control objectives were achieved. Because of inherent limitations in any internal control structure, errors or irregularities may occur and not be detected. Also, projections of any evaluation of the system to future periods is subject to the risk that procedures may become inadequate because of changes in conditions, or that the degree of compliance may deteriorate. In our opinion, the control procedures and methodologies of the Fund related to those portions of its system for calculating the net asset value and dividends and distributions which are unique to the allocation of results of operations to the two classes of outstanding shares of the Portfolio and the degree of compliance with them were sufficient to provide reasonable, but not absolute, assurance that the control objectives described in the first paragraph of this report were achieved for the period May 1, 1994 through February 28, 1995. This report is intended solely for the use of management of the Fund and the Securities and Exchange Commission and should not be used for any other purpose. PRICE WATERHOUSE LLP Philadelphia, Pennsylvania April 11, 1995 EX-99.77B 9 To the Board of Trustees SEI International Trust In planning and performing our audit of the financial statements of SEI International Trust (the "Fund") for the year ended February 28, 1995, we considered its internal control structure, including procedures for safeguarding securities, in order to determine our auditing procedures for the purposes of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, and not to provide assurance on the internal control structure. The management of the Fund is responsible for establishing and maintaining an internal control structure. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of internal control structure policies and procedures. Two of the objectives of an internal control structure are to provide management with reasonable, but not absolute, assurance that assets are appropriately safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with management's authorization and recorded properly to permit preparation of financial statements in conformity with generally accepted accounting principles. Because of inherent limitations in any internal control structure, errors or irregularities may occur and not be detected. Also, projection of any evaluation of the structure to future periods is subject to the risk that it may become inadequate because of changes in conditions or that the effectiveness of the design and operations may deteriorate. Our consideration of the internal control structure would not necessarily disclose all matters in the internal control structure that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of the specific internal control structure elements does not reduce to a relatively low level the risk that errors or irregularities in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. However, we noted no matters involving the internal control structure, including procedures for safeguarding securities, that we consider to be material weaknesses as defined above as of February 28, 1995. This report is intended solely for the information and use of management and the Securities and Exchange Commission. PRICE WATERHOUSE LLP Philadelphia, Pennsylvania April 11, 1995 EX-99.77B 10 Consent of Independent Accountants We hereby consent to the use in the Statement of Additional Information constituting part of this Post-Effective Amendment No. 19 to the Registration Statement on Form N-1A of our report dated April 11, 1995, relating to the financial statements of the Core International Equity, European Equity, Pacific Basin Equity, Emerging Markets Equity and International Fixed Income Portfolios of SEI International Trust which appears in such Statement of Additional Information. We also consent to the references to us under the headings "Financial Highlights" and "General Information" in the Prospectuses and under the headings "Experts" and "Financial Statements" in the Statement of Additional Information. PRICE WATERHOUSE LLP Philadelphia, PA April 26, 1995 EX-99.MULTICLASS 11 SEI Financial Management Methodology for Controlling Multi-Class Funds Control Objectives The following represents the internal accounting control objectives and policies and procedures for the allocation of income and expenses and the computation of the net asset value and, if applicable, the dividend/distribution for each class of shares. It does not cover the internal accounting control procedures surrounding the processing of information into the primary accounting system of SEI Financial Management. Following are the specific control objectives: 1.Capital share activity as reported by the Fund's transfer agent is recorded for each class in an accurate and timely manner. 2.Net investment income before class specific expenses and realized gains/losses is properly allocated between the various classes of shares within each fund. 3.Class specific expenses, (i.e. 12b-1 fees) are properly calculated and allocated between the various classes of shares within each fund . 4.Dividends and distributions are correctly calculated for each class of shares of each fund. 5.Net asset value per share of each class of shares of each fund includes the appropriate amount of expenses, including those expenses allocated between each class of shares. SEI Financial Management Methodology for Controlling Multi-Class Funds Procedures - Non Dollar Funds 1.Separate paid in capital accounts will be maintained for each class. Both the transfer agent and the fund accountant will track and record paid in capital/share activity separately for each class. 2.On a daily basis, net investment income before class specific expenses (e.g. 12b-1 fee) will be allocated to the various classes on the basis of prior day's net assets adjusted for current day's shareholder activity. 3.On a daily basis, the net daily realized gain/loss and net daily change in unrealized gain/loss will be allocated to the various classes on the basis of prior day's net assets adjusted for current day's shareholder activity. Only the net daily activity will be allocated. Cumulative balances will be tracked by class. 4.Net investment income allocated to each class will be reduced by class specific expenses. 5.Total net assets will be calculated for each class. 6.Per unit NAV, POP, and/or redemption price will be calculated for each class as required. 7.Distributions from net investment income will be calculated as follows: a.Undistributed net investment income before class specific expenses will be allocated to the respective classes on the basis of outstanding shares on the declaration date. b.The allocated amount will be reduced by class specific expenses. c.The per share distributions will be calculated by class. Cumulative distributions will be tracked by class. 8.Capital gain distributions will be calculated as follows: a.The amount of net capital gains available for distribution will be allocated to the various classes on the basis of outstanding shares on the record date. b.The per share distributions will be calculated by class. Cumulative distributions will be tracked by class. Key Internal Controls - Money Market Funds and Non-Dollar Funds 1. All calculations relating to the daily allocation ofincome, expenses, realized gains, and unrealized appreciation/depreciation to each class are performed via a standard EDP process without manual intervention. Prior to utilizing this process, SEI accounting management tested this process to ensure its accuracy. 2. On a daily basis, SEI supervisory staff review and sign-off on the daily allocations performed through the above EDP process. Net Asset Value Calculation Non-Dollar Funds Assumptions 1.The various classes differ as follows: Class A No 12(b)-1 plan or load. Class B 12(b)-1 plan which causes the class to incur 25 basis points of distribution expense. In addition, a front end load of 4% is in place. Class C 12(b)-1 plan which causes the class to incur 25 basis points of distribution expense. In addition, a CDSC of 4% is in place. 2.Paid in capital is tracked separately by class. That is, activity within a specific class is recorded in the paid in capital account of that specific class. 3.Unrealized gains losses, realized gains/losses, and undistributed income before class specific expenses are allocated to the respective classes on the basis of prior day's net assets, adjusted for current day shareholder activity, on a daily basis. Separate accounts are maintained for each class and the allocated amounts are recorded in the respective accounts. 4.Class specific expenses are levied prior to calculating the net asset value per share. 5.After calculating class specific expenses, net asset value for each class is calculated. Net assets are then divided by outstanding shares to calculate the net asset value per share. 6.Two days' activity is presented. The daily activity was assumed to be as follows: Day 1 Opening Net Assets Shares Class A $1,000,000 100,000 Class B $1,000,000 100,000 Class C $1,000,000 100,000 Paid in Capital Activity Class A 100 Shares purchased Class B 100 Shares purchased Class C 100 Shares purchased Unrealized Gains/Losses Net unrealized gain activity of $10,000 was incurred for the day. Realized gains/losses Net realized gain activity of $5,000 was incurred for the day. Net Investment Income Net investment income of $20,000 was earned for the day. Day 2 Paid in Capital Activity Class A 50 shares redeemed Class B 100 shares purchased Class C 50 shares purchased Unrealized Gains/Losses Net unrealized gain activity of $10,000 was incurred for the day. Realized Gains/Losses Net realized gain activity of $5,000 was incurred for the day. Net Investment Income Net investment income of $20,000 was earned for the day. Daily Net Asset Value Calculation Day 1
CLASS A CLASS B CLASS C TOTAL 1. Shares, Prior Day 100,000.00 100,000.00 100,000.00 300,000.00 2. Share Activity 100.00 100.00 100.00 300.00 3. Adjusted Shares 100,100.00 100,100.00 100,100.00 300,300.00 4. Prior Day Net Assets 1,000,000.00 1,000,000.00 1,000,000.00 3,000,000. 00 5. Today's Capital 1,000.00 1,000.00 1,000.00 3,000.00 Activity 6. Adjusted Net Assets 1,001,000.00 1,001,000.00 1,001,000.00 3,003,000.00 7. Net Asset Percentage 33.34% 33.33% 33.33% 100.00% 8. Net InvestmentIncome Before class 6,668.00 6,666.00 6,666.00 20,000.00 specific expenses 9. Class specific expense 0.00 6.85 6.85 13.70 12(b)-1 fees 10.Net Investment 6,668.00 6,659.15 6,659.15 19,986.30 Income 11.Realized Gains/Losses Short Term 0.00 0.00 0.00 0.00 Long Term 1667.00 1666.50 1666.50 5000.00 12.Unrealized Gains 3,334.00 3,333.00 3,333.00 10,000.00 Losses 13.Net Change in Net Assets(5+10+11+12) 12,669.00 12,658.65 12,658.65 37,986.30 14.Prior Day's Net 1,000,000.00 1,000,000.00 1,000,000.00 3,000,000. Assets 15.Total Net Assets 1,012,669.00 1,012,658.65 1,012,658.65 3,037,986.30 (13+14) 16.Outstanding Shares 100,100.00 100,100.00 100,100.00 300,300.00 17. Net Asset Value - 10.11657343 10.11647003 10.11647003 Raw Net Asset Value - 10.12 10.12 10.12 Rounded POP 10.12 10.54 10.12 Redemption Price 10.12 10.12 9.72
Prepared By: Reviewed By: Daily Net Asset Value Calculation Day 2
Class A Class B Class C Total 1.Shares, Prior Day 100,100.00 100,100.00 100,100.00 300,300.00 2. Share Activity -50.00 100.00 50.00 100.00 3. Adjusted Shares 100,050.00 100,200.00 100,150.00 300,400.00 4.Prior Day Net Assets 1,012,669.00 1,012,658.67 1,012,658.67 3,037,986.34 5. Today's Capital -506.00 1,012.00 506.00 1,012.00 Activity 6.Adjusted Net Assets 1,012,163.00 1,013,670.67 1,013,164.67 3,038,998.34 7.Net Asset Percentage 33.31% 33.35% 33.34% 100.00% 8. Net Investment Income Before class 6,662.00 6,670.00 6,668.00 20,000.00 specific expenses 9. Class specific expense 0.00 6.94 6.94 13.88 12(b)-1 fees 10.Net Investment 6,662.00 6,663.08 6,661.08 19,986.16 Income 11.Realized Gains/Losses Short Term 0.00 0.00 0.00 0.00 Long Term 1665.50 1667.50 1667.00 5000.00 12.Unrealized Gains 3,331.00 3,335.00 3,334.00 10,000.00 Losses 13.Net Change in Net Assets 11,152.50 12,677.60 12,168.10 35,998.20 (5+10+11+12) 14.Prior Day's Net 1,012,669.00 1,012,658.67 1,012,658.67 3,037,986.34 Assets 15.Total Net Assets 1,023,821.50 1,025,336.27 1,024,826.77 3,073,984.54 (13+14) 16.Outstanding Shares 100,050.00 100,200.00 100,150.00 300,400.00 17.Net Asset Value - 10.23309845 10.23289691 10.23291832 Raw Net Asset Value - 10.23 10.23 10.23 Rounded POP 10.23 10.66 10.23 Redemption Price 10.23 10.23 9.82
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