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Investors should consult their tax advisors regarding the application of the "straddle" rules to their investment in Millennium USA. Limitation on Deductibility of Interest and Short Sale Expenses. For noncorporate taxpayers, Section 163(d) of the Code limits the deduction for "investment interest" (i.e., interest or
and Millennium USA has been structured, among other reasons, to give U.S. taxpayers an opportunity to invest in the Master Partnership indirectly. Capital Structure Millennium USA and Millennium International and other existing feeder funds have, and feeder funds that may be formed in the future may have, a var
Investors should consult their tax advisors regarding the application of the "straddle" rules to their investment in Millennium USA. Limitation on Deductibility of Interest and Short Sale Expenses. For noncorporate taxpayers, Section 163(d) of the Code limits the deduction for "investment interest" (i.e., interest or
ct or indirect subsidiaries that may trade in their own names and are generally consolidated into the financial reports of the Master Partnership. Capital Structure The equity ownership of the Master Partnership is divided into general partner interests and limited partner interests. The interests differ in the
Investors should consult their tax advisors regarding the application of the "straddle" rules to their investment in Millennium USA. Limitation on Deductibility of Interest and Short Sale Expenses. For noncorporate taxpayers, Section 163(d) of the Code limits the deduction for "investment interest" (i.e., interest or
ct or indirect subsidiaries that may trade in their own names and are generally consolidated into the financial reports of the Master Partnership. Capital Structure The equity ownership of the Master Partnership is divided into general partner interests and limited partner interests. The interests differ in the
Entities connected to both Deductibility of Interest and Capital Structure

U.S. Treasury
ORGANIZATIONKeogh
ORGANIZATIONCayman
LOCATION
New York
LOCATIONthe U.S. Investment Company Act
ORGANIZATIONMaster-Feeder Relationship
ORGANIZATIONThe Master Partnership's Organization
ORGANIZATIONIndependent Public Accountants
ORGANIZATIONMillennium Partners
ORGANIZATION
Millennium
ORGANIZATIONErnst & Young LLP
ORGANIZATIONTrigger Event
ORGANIZATIONMillennium USA's
LOCATIONMillennium International, Ltd.
ORGANIZATIONManagement of Millennium USA
ORGANIZATIONIndividual Limited Partners
ORGANIZATION
the Internal Revenue Service
ORGANIZATION
United States
LOCATION
Ghislaine Maxwell
PERSON
United Kingdom
LOCATION