Merrill Lynch International Investment Funds Audited Annual Report ...

Statement of Changes in Shares Outstanding as at 31 December 2006 continued
Classes J, Q and X
Global Capital
Global
Global Securities Global Enhanced Global
Bond Absolute Dynamic Equity Global Global Fundamental
Fund Name (US Dollar) Return (2) Equity (2) Yield (2) Equity (1) Focus Value
US$ € US$ US$ US$ US$ US$
J class distributing (M) shares
Shares outstanding at the beginning of the year
– – – – – – –
Shares issued
– – – – – – –
Shares repurchased
– – – – – – –
Shares outstanding at the end of the year
– – – – – – –
J class non-distributing shares
Shares outstanding at the beginning of the year
– – – – – – –
Shares issued
– – – – – – –
Shares repurchased
– – – – – – –
Shares outstanding at the end of the year
– – – – – – –
Q class distributing shares
Shares outstanding at the beginning of the year
159,718 – – – – – –
Shares issued
298 – – – – – –
Shares repurchased
(64,855) – – – – – –
Shares outstanding at the end of the year
95,161 – – – – – –
Q class non-distributing shares
Shares outstanding at the beginning of the year
755,348 – – – – – 1,464,093
Shares issued
– – – – 763,089 – –
Shares repurchased
(253,318) – – – (51,639) – (457,752)
Shares outstanding at the end of the year
502,030 – – – 711,450 – 1,006,341
X class shares
Shares outstanding at the beginning of the year
– – – – – – 3,822,219
Shares issued
– – – – – – –
Shares repurchased
– – – – – – (500,000)
Shares outstanding at the end of the year
– – – – – – 3,322,219
X class hedged shares
Shares outstanding at the beginning of the year
– – – – – – –
Shares issued
– – – – – – –
Shares repurchased
– – – – – – –
Shares outstanding at the end of the year
– – – – – – –
(1) Fund name changed, see Note 1, for further details.
(2) New Fund launched, see Note 1, for further details.
(3) Base currency changed, see Note 1, for further details.
52 Merrill Lynch International Investment Funds