NOTES TO FINANCIAL STATEMENTS
MASTER AGGREGATE BOND INDEX SERIES
1. Significant Accounting Policies:
Master Aggregate Bond Index Series (the "Series") is part of Quantitative Master Series Trust (the "Trust"). The
Trust is registered under the Investment Company Act of 1940 and is organized as a Delaware business trust.
The Series' financial statements are prepared in accordance with accounting principles generally accepted in the
United States of America, which may require the use of management accruals and estimates. These unaudited
financial statements reflect all adjustments, which are, in the opinion of management, necessary to a fair statement
of the results for the interim period presented. All such adjustments are of a normal recurring nature. The
following is a summary of significant accounting policies followed by the Series.
(a) Valuation of investments--Portfolio securities that are traded on stock exchanges are valued at the last sale
price as of the close of business on the day the securities are being valued or, lacking any sales, at the closing bid
price. Securities traded in the over-the-counter market are valued at the last quoted bid price at the close of
trading on the New York Stock Exchange on each day by brokers that make markets in the securities. Securities
traded in the NASDAQ National Market System are valued at the last sale price prior to the time of valuation.
Securities that are traded both in the over-the-counter market and on a stock exchange are valued according to
the broadest and most representative market. Options written or purchased are valued at the last sale price in the
case of exchange-traded options. In the case of options traded in the over-the-counter market, valuation is the
last asked price (options written) or the last bid price (options purchased). Other investments, including futures
contracts and related options, are stated at market value. Short-term securities are valued at amortized cost,
which approximates market value. Securities and