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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Emerging Markets Fund<br />
Portfolio of <strong>Investment</strong>s 31 December 2006<br />
Transferable Securities Admitted to an Official Stock Exchange<br />
Listing or Dealt in on Another Regulated Market<br />
Holding Description Value (US$) %<br />
COMMON / PREFERRED STOCKS (SHARES) & WARRANTS<br />
Bermuda<br />
8,362,400 Bio-Treat Technology<br />
___________<br />
3,300,876<br />
______<br />
0.52<br />
Brazil<br />
10 All America Latina Logistica (Pref) 17 0.00<br />
778,300 All America Latina Logistica (Unit) 8,081,926 1.26<br />
585,088 Banco Bradesco ADR 23,584,897 3.69<br />
619,000,000 CESP – Cia Energetica de Sao Paulo<br />
'B' (Pref) 7,248,244 1.13<br />
162,180 Companhia de Bebidas das Americas<br />
ADR (Pref) 7,971,147 1.25<br />
609,656 Cyrela Brazil Realty 5,822,429 0.91<br />
231,280 Duratex (Pref) 3,596,485 0.56<br />
142,351,000 Lojas Americanas (Pref) 7,967,656 1.25<br />
506,590 Lojas Renner 7,284,456 1.14<br />
208,718 LPS Brasil Consultoria de Imoveis 2,297,364 0.36<br />
226,740 Petroleo Brasileiro ADR 20,975,717 3.28<br />
156,275 Profarma Distribuidora de Produtos<br />
Farmaceuticos 2,151,984 0.34<br />
304,229 Vivax (Unit)<br />
___________<br />
5,557,345<br />
______<br />
0.87<br />
___________<br />
102,539,667<br />
______<br />
16.04<br />
China<br />
5,780,550 China Construction Bank 'H' 3,681,263 0.58<br />
1,492,000 China Merchants Bank 'H' 3,163,359 0.49<br />
9,046,000 China Petroleum & Chemical 'H' 8,379,374 1.31<br />
3,159,050 China Shenhua Energy 'H' 7,608,251 1.19<br />
8,662,000 Harbin Power Equipment 'H' 9,940,438 1.55<br />
19,990,000 Huadian Power <strong>International</strong> 'H' 7,869,674 1.23<br />
8,350,000 Hunan Non-Ferrous Metal 'H' 4,834,165 0.76<br />
6,033,710 Industrial & Commercial Bank<br />
of China 'H'<br />
___________<br />
3,749,333<br />
______<br />
0.59<br />
___________<br />
49,225,857<br />
______<br />
7.70<br />
Egypt<br />
306,750 Commercial <strong>International</strong> Bank 3,116,044 0.49<br />
585,285 Commercial <strong>International</strong> Bank GDR<br />
___________<br />
5,735,793<br />
______<br />
0.89<br />
___________<br />
8,851,837<br />
______<br />
1.38<br />
Hong Kong<br />
1,326,700 China Mobile<br />
___________<br />
11,470,029<br />
______<br />
1.80<br />
Hungary<br />
180,020 OTP Bank<br />
___________<br />
8,255,954<br />
______<br />
1.29<br />
India<br />
150,818 Ansal Housing & Construct 1,196,688 0.19<br />
116,100 Bharat Heavy Electricals 6,035,593 0.94<br />
453,497 DS Kulkarni Developers 3,988,473 0.62<br />
895,690 IVRCL Infrastructures & Projects 7,795,513 1.22<br />
510,636 Nagarjuna Construction GDR 2,487,119 0.39<br />
481,100 Prajay Engineers Syndicate<br />
___________<br />
3,193,552<br />
______<br />
0.50<br />
___________<br />
24,696,938<br />
______<br />
3.86<br />
Indonesia<br />
4,408,500 Perusahaan Gas Negara<br />
___________<br />
5,685,792<br />
______<br />
0.89<br />
Transferable Securities Admitted to an Official Stock Exchange<br />
Listing or Dealt in on Another Regulated Market<br />
Holding Description Value (US$) %<br />
Israel<br />
98,060 Teva Pharmaceutical Industries 3,056,134 0.48<br />
195,779 Teva Pharmaceutical Industries ADR<br />
___________<br />
6,094,600<br />
______<br />
0.95<br />
___________<br />
9,150,734<br />
______<br />
1.43<br />
Kazakhstan<br />
153,570 Kazkommertsbank GDR<br />
___________<br />
3,547,467<br />
______<br />
0.56<br />
Luxembourg<br />
87,080 Tenaris ADR<br />
___________<br />
4,342,680<br />
______<br />
0.68<br />
Malaysia<br />
3,722,000 Bumiputra-Commerce Holdings 8,173,845 1.28<br />
782,000 Bursa Malaysia 1,783,820 0.28<br />
2,166,000 Tenaga Nasional<br />
___________<br />
6,690,111<br />
______<br />
1.04<br />
___________<br />
16,647,776<br />
______<br />
2.60<br />
Mexico<br />
430,577 America Movil SA de CV 'L' ADR 19,427,634 3.04<br />
1,967,872 Corp GEO SA de CV 'B' 9,833,195 1.54<br />
1,575,973 Empresas ICA SAB de CV 5,920,354 0.93<br />
69,818 Fomento Economico Mexicano SA<br />
de CV ADR 8,141,477 1.27<br />
223,790 Grupo Televisa ADR<br />
___________<br />
6,080,374<br />
______<br />
0.95<br />
___________<br />
49,403,034<br />
______<br />
7.73<br />
Oman<br />
3,138,000 Bank Muscat<br />
___________<br />
9,372,987<br />
______<br />
1.47<br />
Philippines<br />
633,000 Ayala 7,620,282 1.19<br />
17,650,400 Robinsons Land<br />
___________<br />
5,852,255<br />
______<br />
0.92<br />
___________<br />
13,472,537<br />
______<br />
2.11<br />
Poland<br />
476,250 Powszechna Kasa Oszczednosci<br />
Bank Polski<br />
___________<br />
7,688,737<br />
______<br />
1.20<br />
Russian Federation<br />
444,383 AFK Sistema GDR 14,220,256 2.22<br />
19,600 MMC Norilsk Nickel 3,077,200 0.48<br />
1,340,240 OAO Gazprom 15,412,760 2.41<br />
440,231 OAO Gazprom ADR 20,250,626 3.17<br />
62,650 Polyus Gold ADR 3,038,525 0.48<br />
66,300 Polyus Gold 'CLS' 3,268,590 0.51<br />
51,510 Surgutneftegaz ADR (Pref) 5,653,222 0.88<br />
83,100 Unified Energy System GDR<br />
___________<br />
9,107,760<br />
______<br />
1.43<br />
___________<br />
74,028,939<br />
______<br />
11.58<br />
South Africa<br />
2,977,940 FirstRand 9,458,782 1.48<br />
211,380 Kumba Iron Ore 3,364,575 0.53<br />
372,630 Nedbank Group 7,117,466 1.11<br />
409,060 Sasol 15,146,100 2.37<br />
486,260 Standard Bank Group 6,574,560 1.03<br />
316,751 Super Group 523,439 0.08<br />
337,220 Tiger Brands<br />
___________<br />
8,250,414<br />
______<br />
1.29<br />
___________<br />
50,435,336<br />
______<br />
7.89<br />
The notes on pages 213 to 219 form an integral part of these financial statements.<br />
<strong>Audited</strong> <strong>Annual</strong> <strong>Report</strong> and Accounts 75
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