zed as a Level III investment: For the Year Ended December 31. 2011 2010 2009 Balance. Beginning of Penod 1.637.091 3 1.324.939 3 854.442 Pauchaaes 432 375 4.121 Dot:Muttons (33.425) (58.368) (5.497) Change an unrealised (losses) gains. nel 1123.9461 37(1345 471.573 Balance. End of Pe