Bought 100 Shares of AvalonBay Communities

This morning, the Value Investment Fund purchased 100 shares of AvalonBay Communities Inc. The Fund paid $160 per share plus a $1.00 fee. In addition, the Fund utilized the margin account and paid a 2% fee. Thus, the total basis in these transactions is as follows:

Market Price                       $16,000.00
Transaction Fee                         100.00
Margin Fee                                322.00
Total Basis                          $16,422.00

This purchase is a function of the REITs pool of investments. Act on Knowledge.