Rules and Regulations
promulgated
under the
Investment Company Act of 1940
Rule 2a-2 -- Effect of Eliminations Upon Valuation of Portfolio Securities
During any fiscal quarter in which elimination
of securities from the portfolio of an investment company occur, the securities remaining
in the portfolio shall, for the purpose of Sections
5 and 12 of the Act, be so valued as to
give effect to the eliminations in accordance with one of the following methods:
specific certificate,
first in-first out,
last in-first out, or
average value.
For these purposes, a single method of elimination shall be used consistently with
respect to all portfolio securities. In giving effect to eliminations pursuant to
this Rule, values shall be computed in accordance with Section
2(a)(41)(A) of the Act.
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