lcw77

2010: (Cash flow, Composite and Carve-out)

- value portfolios on the date of large cash flows.
- value portfolio at Month end or last business-day of the month.
- calculate composite returns at least Monthly.
- carve-out not included unless it is Managed separately with its own cash balance.


- prior to 2010, disclose if any portfolios not valued at Month-end/last b-day of month.
- prior to 2010, disclose the policy used to allocate cash to carve-outs.

- RE: value portfolios as of each Quarter end or last business day of each quarter.