Merrill Lynch International Investment Funds Audited Annual Report ...

Three Year Asset Summary as at 31 December 2006 continued
Classes Q and X
Asian Conservative Conservative Continental
Asian Tiger Allocation Allocation European Emerging Emerging
Fund Name Dragon Bond (Euro) (US Dollar) Flexible (1) Europe Markets
US$ US$ € US$ € € US$
Net asset value per Q class distributing share
31 December 2006
– 10.76 8.05 – – – –
31 December 2005
– 10.56 8.14 8.62 – – –
31 December 2004
– 10.65 7.80 8.42 – – –
Net asset value per Q class non-distributing share
31 December 2006
21.93 20.83 8.20 8.89 – 101.14 21.87
31 December 2005
17.25 19.45 8.27 8.60 – 75.97 17.23
31 December 2004
14.68 18.70 7.93 8.41 – 45.22 12.91
Net asset value per X class share
31 December 2006
– – – – – 116.44 –
31 December 2005
– – – – – 84.64 –
31 December 2004
– – – – – 48.95 –
Net asset value per X class hedged share
31 December 2006
– – – – – – –
31 December 2005
– – – – – – –
31 December 2004
– – – – – – –
(1) Fund name changed, see Note 1, for further details.
(2) New Shares activated, see Note 1, for further details.
20 Merrill Lynch International Investment Funds