BPI Statement of Additional Information

TABLE OF CONTENTS GENERAL DESCRIPTION OF THE TRUST ................................................................ ADDITIONAL INFORMATION ABOUT INVESTMENT OBJECTIVES, POLICIES, AND RELATED RISKS. . . . . INVESTMENT RESTRICTIONS ........................................................................... EXCHANGE LISTING AND TRADING .................................................................... MANAGEMENTOFTHETRUST.......................................................................... PRINCIPAL SHAREHOLDERS, CONTROL PERSONS, AND MANAGEMENT OWNERSHIP . . . . . . . . . . . . . . . . . . CODES OF ETHICS ...................................................................................... PROXYVOTINGPOLICIES............................................................................... INVESTMENT ADVISER AND SUB-ADVISER............................................................. PORTFOLIO MANAGERS ................................................................................ THEDISTRIBUTOR...................................................................................... THE ADMINISTRATOR, CUSTODIAN, AND TRANSFER AGENT .......................................... LEGAL COUNSEL ....................................................................................... INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM .............................................. PORTFOLIO HOLDINGS DISCLOSURE POLICIES AND PROCEDURES .................................... DESCRIPTIONOFSHARES............................................................................... LIMITATION OF TRUSTEES’ LIABILITY ................................................................. BROKERAGE TRANSACTIONS .......................................................................... PORTFOLIO TURNOVER RATE .......................................................................... BOOK ENTRY ONLY SYSTEM ........................................................................... PURCHASE AND REDEMPTION OF SHARES IN CREATION UNITS ....................................... DETERMINATION OF NAV .............................................................................. DIVIDENDSANDDISTRIBUTIONS....................................................................... FEDERAL INCOME TAXES .............................................................................. FINANCIALSTATEMENTS............................................................................... APPENDIX A ............................................................................................

1 1 7 8 9

12 13 13 13 14 15 16 17 17 17 17 18 18 19 19 20 25 25 25 31

A-1

Made with FlippingBook - professional solution for displaying marketing and sales documents online