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roof of intent, reasoning that to allowing them to proceed would be, in effect, allowing private causes of action under the Martin Act." Kassover v. UBS AG, 619 F. Supp. 2d 28, 36 M. 2008); see also In re Bayou Hedge Fund Litig., 534 F. Supp. 2d 405, 421 (M. 2007) (noting that "[t)he vast majority of
up to 10% of the investment portfolio . . . may be invested in lower-rated investment grade, below investment grade or unrated securities. As the Master Fund's portfolio is leveraged, such holdings may be equal to a substantial amount of the Master Fund's Net Asset Value. In fact, if the Master Fund employ
he Administrator is an indirect, wholly owned subsidiary of UBS Americas, Inc. (the "UBS Americas") which, in turn, is a wholly owned subsidiary of UBS AG (together with its affiliates, "UK") a Swiss bank. UBSFS, a wholly owned subsidiary of UBS Americas, is registered as a broker-dealer under the U.S
s may recognize ordinary income or loss in connection with a withdrawal from the AlphaKeys Fund as a result of the Underlying Fund's and Underlying Master Fund's mark-to-market election. Investors should consult their own tax advisors about the character of any gain or loss recognized on withdrawal from the A
he Administrator is an indirect, wholly owned subsidiary of UBS Americas, Inc. (the "UBS Americas") which, in turn, is a wholly owned subsidiary of UBS AG (together with its affiliates, "UK") a Swiss bank. UBSFS, a wholly owned subsidiary of UBS Americas, is registered as a broker-dealer under the U.S
s may recognize ordinary income or loss in connection with a withdrawal from the AlphaKeys Fund as a result of the Underlying Fund's and Underlying Master Fund's mark-to-market election. Investors should consult their own tax advisors about the character of any gain or loss recognized on withdrawal from the A
Entities connected to both UBS AG and Master Fund's

Ghislaine Maxwell
PERSON
United States
LOCATION
U.S. Treasury
ORGANIZATIONCayman
LOCATION
Jeffrey Epstein
PERSON
New York
LOCATION
Federal Reserve
ORGANIZATION
FDIC
ORGANIZATION
Philadelphia
LOCATION
the Internal Revenue Service
ORGANIZATIONErnst & Young LLP
ORGANIZATION
Millennium
ORGANIZATIONAlphaKeys
ORGANIZATION
Paul Volcker
PERSONAdministrative Services
ORGANIZATIONAlphaKeys Millennium Fund
ORGANIZATION
Cayman Islands
LOCATIONRelated-Party Transactions
ORGANIZATIONthe Portfolio Managers
ORGANIZATIONthe U.S. Department of Labor
ORGANIZATION