NOTES TO FINANCIAL STATEMENTS
AS OF FEBRUARY 29, 2008 (continued)
The Distributor has entered into shareholder services contracts with affiliated and unaffiliated financial intermediaries who
provide shareholder services and other related services to their clients or customers who invest in the Funds under which the
Distributor will pay all or a portion of such fees earned to financial intermediaries for performing such services.
The Distributor waived Shareholder Servicing fees as outlined in Note 3.F.
E. Custodian and Accounting Fees — JPMCB provides portfolio custody and accounting services for the Funds. The amounts
paid directly to JPMCB by the Funds for custody and accounting services are included in Custodian and accounting fees in the
Statement of Operations. The custodian fees may be reduced by credits earned by each Fund, based on uninvested cash
balances held by the custodian. Such earnings credits are presented separately in the Statement of Operations.
Interest expense, if any, paid to the custodian related to cash overdrafts is included in Interest expense in the Statement of
F. Waivers and Reimbursements — The Advisors, Administrator and Distributor have contractually agreed to waive fees
and/or reimburse the Funds to the extent that total annual operating expenses (excluding acquired fund fees and expenses,
dividend expense related to short sales, interest, taxes, extraordinary expenses and expenses related to the Board of Trustees’
deferred compensation plan) exceed the percentages of the Funds’ respective average daily net assets as shown in the table
Prime Money Market Fund
0.30% 0.05% n/a n/a
Liquid Assets Money Market Fund
n/a 0.05 0.30% n/a
U.S. Government Money Market Fund