Underlying Assets

Assets that are held in another investment vehicle in which a filer has a financial interest. For example, a filers underlying assets may include the portfolio holdings of a partnership, a trust, or an investment fund. Full disclosure often requires a filer to report both the investment vehicle itself and the underlying assets that it holds, unless the investment vehicle is an Excepted Investment Fund (EIF). For example, if Trust X holds Stocks 1, 2, and 3, you should report both Trust X and Stocks 1, 2, and 3 because the stocks are the underlying assets of the trust.