[12813]
November 1, 2000
TO: TAX COMMITTEE No. 45-00
RE: ICI PAPER ON FUND-OF-FUNDS FINANCIAL REPORTING
Attached is a copy of an Institute paper addressing financial reporting issues for fund-
of-funds. Among other things, the paper addresses fund-of-funds financial statements,
financial highlights, financial statement footnote disclosures, portfolio turnover, expense
disclosure, net asset value calculation and tax considerations.
The paper was prepared by the Accounting Policy Subcommittee. Questions regarding
the paper or related issues should be directed to the undersigned.
Gregory Smith
Director - Operations/Compliance
& Fund Accounting
Compliance & Fund Accounting
Attachment (in .pdf format)