Merrill Lynch International Investment Funds Audited Annual Report ...
Merrill Lynch International Investment Funds Audited Annual Report ...
Merrill Lynch International Investment Funds Audited Annual Report ...
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Contents<br />
Chairman’s Letter 2<br />
Board of Directors 3<br />
Management and Administration 3<br />
Statement of Net Assets 4<br />
Three Year Asset Summary 16<br />
Statement of Operations and Changes in Net Assets 34<br />
Statement of Changes in Shares Outstanding 42<br />
Portfolio of <strong>Investment</strong>s<br />
Asian Dragon Fund 60<br />
Asian Tiger Bond Fund 62<br />
Conservative Allocation Fund (Euro) 64<br />
Conservative Allocation Fund (US Dollar) 68<br />
Continental European Flexible Fund (1) 71<br />
Emerging Europe Fund 73<br />
Emerging Markets Fund 75<br />
Emerging Markets Bond Fund 77<br />
Euro Bond Fund 80<br />
Euro Corporate Bond Fund (1) 84<br />
Euro Reserve Fund 87<br />
Euro Short Duration Bond Fund (1) 89<br />
Euro-Markets Fund 91<br />
European Fund 92<br />
European Focus Fund 94<br />
European Growth Fund 95<br />
European Opportunities Fund 97<br />
European Value Fund 99<br />
Global Allocation Fund 100<br />
Global Bond Fund (Euro) 111<br />
Global Bond Fund (US Dollar) 114<br />
Global Capital Securities Absolute Return Fund (2) 117<br />
Global Dynamic Equity Fund (2) 121<br />
Global Enhanced Equity Yield Fund (2) 129<br />
Global Equity Fund (1) 134<br />
Global Focus Fund 136<br />
Global Fundamental Value Fund 137<br />
Global High Yield Bond Fund (Euro) 139<br />
Global Opportunities Fund 143<br />
Global SmallCap Fund 145<br />
India Fund (2) 148<br />
Japan Fund (3) 149<br />
Japan Opportunities Fund (3) 150<br />
Japan Value Fund (3) 151<br />
Latin American Fund 152<br />
New Energy Fund 154<br />
Pacific Equity Fund 156<br />
Sterling Reserve Fund 158<br />
Strategic Allocation Fund (Euro) 159<br />
Strategic Allocation Fund (US Dollar) 162<br />
UK Focus Fund 166<br />
United Kingdom Fund 167<br />
US Basic Value Fund 168<br />
US Dollar Core Bond Fund 170<br />
US Dollar High Yield Bond Fund 176<br />
US Dollar Low Duration Bond Fund 180<br />
US Dollar Reserve Fund 184<br />
US Flexible Equity Fund 186<br />
US Focused Value Fund 188<br />
US Government Mortgage Fund 189<br />
US Growth Fund 191<br />
US Opportunities Fund 192<br />
US SmallCap Value Fund 194<br />
World Bond Fund 196<br />
World Energy Fund 199<br />
World Financials Fund 201<br />
World Gold Fund 203<br />
World Healthscience Fund 205<br />
World Income Fund 206<br />
World Mining Fund 210<br />
World Technology Fund 212<br />
Notes to the Financial Statements 213<br />
General Information 220<br />
Independent Auditor’s <strong>Report</strong> to the Shareholders 222<br />
(1), (2)<br />
and (3) See notes section<br />
Subscriptions may be made only on the basis of the current Prospectus, of which the most recent audited annual report and accounts and unaudited interim report and accounts form an integral<br />
part. Copies are available from Investor Services, the Transfer Agent, the Manager or any of the Distributors.<br />
<strong>Audited</strong> <strong>Annual</strong> <strong>Report</strong> and Accounts 1
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