Notes to Financial Statements
The majority of expenses of the Trust are directly identifiable to an individual fund. Expenses which are not
readily identifiable to a specific fund are allocated among the funds of the Trust taking into consideration, among
other things, the nature and type of expense and the relative size of the funds.
E. Commitments and contingencies
In the normal course of business, the Fund may enter into contracts and agreements that contain a variety of
representations and warranties, which provide general indemnifications. The maximum exposure to the Fund
under these arrangements is unknown, as this would involve future claims that may be made against the Fund that
have not yet occurred. However, based on experience, the Fund expects the risks of loss to be remote.
F. Affiliated issuers
Affiliated issuers are investment companies advised by Mellon Equity Associates, LLP ("Mellon Equity"), a
wholly-owned subsidiary of Mellon Financial Corporation, or its affiliates.
G. Federal Income Taxes
Each year the Fund intends to qualify as a regulated investment company by distributing substantially all of its
taxable income and realized gains under Subchapter M of the Internal Revenue Code to shareholders.
Accordingly, no provision for income taxes is required in the financial statements.
H. New Accounting Requirements
In July 2006, the Financial Accounting Standards Board issued Interpretation No. 48, "Accounting for
Uncertainty in Income Taxes - an Interpretation of FASB Statement No. 109" (the "Interpretation"). The
Interpretation establishes for all entities, including pass-through entities such as the Fund, a minimum threshold for
financial statement recognition of the benefit of positions taken in filing tax returns (including whether an entity is
taxable in a particular jurisdiction), and requires certain expanded tax disclosures. Adoption of FIN 48 is
required for fiscal years beginning after December 15, 2006 and is to be applied to all open tax ye