Merrill Lynch International Investment Funds Audited Annual Report ...

Global Enhanced Equity Yield Fund (1) continued
Sector Breakdown as at 31 December 2006
% of net
assets
Consumer discretionary 10.2
Financials 26.0
Information technology 8.8
Industrials 8.6
Healthcare 8.6
Energy 8.0
Consumer staples 7.1
Telecommunication services 5.6
Materials 5.1
Utilities 4.8
Other net assets
___________
7.2
___________
100.0
Open Futures Contracts as at 31 December 2006
Number
Expiration Value
of Contracts
Contract/Description
date US$
39 DJ Euro STOXX 50 March 2007 2,137,648
52 FTSE 100 March 2007 6,345,347
37 Nikkei 225 (SIMEX) March 2007 2,687,838
30 S&P 500 IDX March 2007 10,765,500
_________
Total commitment 21,936,333
_________
Note: The net unrealised profit of US$72,731 attributed to these transactions is included in the
Statement of Net Assets (see Note 2c).
Written Call Options as at 31 December 2006
Par Value
Subject
to Call
US$
Issuer
Unrealised
profit/(loss)
US$
Value
US$
(100) DJ Euro Stoxx Call Option
strike price €4,000
expiring on 19/1/2007 (117,529) (200,435)
(400) DJ Euro Stoxx Call Option
strike price €4,100
expiring on 19/1/2007 (133,850) (383,074)
(125) Nikkei 225 Call Option
strike price ¥16,500
expiring on 12/1/2007 (488,877) (766,446)
(50) Euro FTSE Call Option
strike price £6,075
expiring on 19/1/2007 (60,390) (168,335)
Par Value
Subject
to Call
US$
Issuer
Unrealised
profit/(loss)
US$
Value
US$
(150) Euro FTSE Call Option
strike price £6,225
expiring on 19/1/2007 (21,803) (186,985)
(125) S&P 500 Call Option
strike price US$1,420
expiring on 20/1/2007 (45,156) (216,250)
(475) S&P 500 Call Option
strike price US$1,425
expiring on 20/1/2007
___________
(3,036)
_________
(665,000)
Total Written Call Options
___________
(870,642) (2,586,526)
_________
Note: Written Call Options are included in the Statement of Net Assets (see Note 2c).
The notes on pages 213 to 219 form an integral part of these financial statements.
Audited Annual Report and Accounts 133