EFTA01556097.pdf

FINANCIAL TRUST COMPANY INC ATTN: JEFFREY E EPSTEIN C/O AMERICAN YACHT HARBOR 6100 RED HOOK, QUARTERS #B3 ST THOMAS 00802 VIRGIN ISLANDS, U.S. EFTA01556097 EFTA01556098 For the Period 12/1/10 to 12/31/10 Account Summary Account Number Investment Account(s) FINANCIAL TRUST COMPANY INC FINANCIAL TRUST COMPANY INC Total Value Statement Disclosures This account summary is provided for informational purposes and includes assets at different entities. (1) Assets held at JPMorgan Chase Bank, N.A., member Federal Deposit Insurance Corporation ("FDIC"), except for exchangelisted options, which are held at 3PMorgan Clearing Corporation ("JPMCC"). The Asset Account Statement reflects brokerage transactions executed through J.P. Morgan Securities LLC ("JPMS"), see "Portfolio Activity Detail". Equity securities, fixed income securities, and listed options transactions are generally cleared through JPMCC, a wholly owned subsidiary of 3PMS. Please see "Additional Information About Your Accounts" at the end of the Asset Account Statement. (2) Assets held in Margin Account at JPMCC, member Financial Regulatory Authority ("FINRA") and Securities Insurance Protection Corporation ("SIPC"). The Margin Account Statement reflects brokerage transactions executed by JPMS, see "Portfolio Activity Detail". Such transactions are cleared and carried through JPMCC. For important information regarding your accounts refer to the rear of your statement 1 2 Beginning Net Market Value 15,488,713.45 0.00 $15,488,713.45 Ending Net Market Value 13,490,447.41 0.00 $13,490,447.41 Change In Value (1,998,266.04) 0.00 ($1,998,266.04) 13 Start on Page 4 12 0000024764.00.0.20.00001.FINAN18.20110104 EFTA01556099 Page 1 of 16 EFTA01556100 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01556101 For the Period 12/1/10 to 12/31/10 Consolidated Summary INVESTMENT ACCOUNTS Asset Allocation Cash & Short Term Market Value Accruals Market Value with Accruals Beginning Market Value 15,487,036.24 $15,487,036.24 1,677.21 $15,488,713.45 Ending Market Value 13,488,713.45 $13,488,713.45 1,733.96 $13,490,447.41 Change In Value (1,998,322.79) ($1,998,322.79) 56.75 ($1,998,266.04) Estimated 13,488.71 $13,488.71 Current Annual Income Allocation 100% 100% This Consolidated Summary shows all of your investments at J.P. Morgan other than investments we hold in trust for you. These investments may be held in custody or investment management account at JPMorgan Chase Bank, N.A. (the "Bank") or in a brokerage or margin account at J.P. Morgan Clearing Corp. ("JPMCC"). Brokerage and margin accounts are non-discretionary and all investment decisions are made by the client. J.P. Morgan Securities LLC ("JPMS") does not provide advice on asset allocation or investment management services, nor do its personnel take discretion over any client accounts. Such advice and services are provided exclusively by the Bank. Page 2 of 16 EFTA01556102 For the Period 12/1/10 to 12/31/10 Consolidated Summary INVESTMENT ACCOUNT(S) YEAR-TO-DATE Portfolio Activity FINANCIAL TRUST COMPANY INC Tax Summary FINANCIAL TRUST COMPANY INC Account Number CONTINUED Beginning Market Value 130,752,174.28 Account Number Taxable Income 73,116.47 'Unrealized Gain/Loss represents data from the time of account inception to the current statement period. Net Contributions/ Withdrawals (117,336,577.29 ) Tax-Exempt Income Other Income & Receipts Income & Distributions 73,116.47 Change in Investment Value (0.01) Realized Gain/Loss Short-term Long-term Ending Market Value with Accruals 13,490,447.41 Unrealized Gain/Loss' (0.05) Page 3 of 16 EFTA01556103 JPMorgan Chase Bank, N.A. 270 Park Avenue, New York, NY 10017-2014 FINANCIAL TRUST COMPANY INC ACCT. For the Period 12/1/10 to 12/31/10 Asset Account J.P. Morgan Team Paul Morris Paul Barrett Janet Young William Doherty III Online access Banker Investment Specialist Client Service Team Client Service Team www.MorganOnline.com For important information regarding your accounts refer to the rear of your statement 212/464-0701 212/622-2770 800/634-1318 Table of Contents Account Summary Holdings Cash and Short Term Portfolio Activity 4 6 Page 2 Account Page 1 of 8 Page 4 of 16 EFTA01556104 FINANCIAL TRUST COMPANY INC ACCT. For the Period 12/1/10 to 12/31/10 Account Summary Asset Allocation Cash & Short Term Market Value Accruals Market Value with Accruals Beginning Ending Market Value 15,487,036.24 $15,487,036.24 1,677.21 $15,488,713.45 Market Value 13,488,713.45 $13,488,713.45 1,733.96 $13,490,447.41 Current Portfolio Activity Beginning Market Value Contributions Withdrawals & Fees Net Contributions/Withdrawals Income & Distributions Change In Investment Value Ending Market Value Accruals Market Value with Accruals (2,000,000.00) ($2,000,000.00) 1,677.21 $13,488,713.45 1,733.96 $13,490,447.41 Period Value 15,487,036.24 Change In Value (1,998,322.79) ($1,998,322.79) 56.75 ($1,998,266.04) Year-to-Date Value 130,752,174.28 10,000,000.00 (127,336,577.29 ) ($117,336,577.29 ) EFTA01556105 73,116.47 (0.01) $13,488,713.45 1,733.96 $13,490,447.41 Estimated 13,488.71 $13,488.71 Current Annual Income Allocation 100% 100% Account Page 2 of 8 Page 5 of 16 EFTA01556106 FINANCIAL TRUST COMPANY INC ACCT. For the Period 12/1/10 to 12/31/10 Account Summary Tax Summary Domestic Dividends/Distributions Interest Income Taxable Income CONTINUED Current Period Value 1,677.21 $1,677.21 Year-to-Date Value 73,090.93 25.54 $73,116.47 Unrealized Gain/Loss To-Date Value ($0.05) Cost Summary Cash & Short Term 13,488,713.50 Cost Total $13,488,713.50 Account Page 3 of 8 Page 6 of 16 EFTA01556107 FINANCIAL TRUST COMPANY INC ACCT. For the Period 12/1/10 to 12/31/10 Cash & Short Term Summary Beginning Asset Categories Cash Short Term Total Value Market Value/Cost Market Value Tax Cost Unrealized Gain/Loss Estimated Annual Income Accrued Interest Yield SUMMARY BY MATURITY Short Term Less than 3 months 13,488,713.23 Market Value Market Value 0.22 15,487,036.02 $15,487,036.24 Ending Market Value 0.22 13,488,713.23 $13,488,713.45 Current Period Value 13,488,713.45 13,488,713.50 (0.05) 13,488.71 1,733.96 0.10% SUMMARY BY TYPE Short Term Mutual Funds Market Value 13,488,713.23 % of Bond Portfolio 100% Short Term Change In Value 0.00 EFTA01556108 (1,998,322.79) ($1,998,322.79 ) Current Allocation 1% 99% 100% Cash Asset Cate ories Account Page 4 of 8 Page 7 of 16 EFTA01556109 FINANCIAL TRUST COMPANY INC ACCT. For the Period 12/1/10 to 12/31/10 Cash & Short Term Detail Quantity Cash POUND STERLING Short Term JPMORGAN PRIME MONEY MARKET FUND CAPITAL SHARE CLASS FUND 3605 7-Day Annualized Yield: .13% 4812A0-36-7 13,488,713.23 1.00 13,488,713.23 13,488,713.23 13,488.71 1,733.96 0.10% 0.14 1.57 0.22 0.27 (0.05) Price Market Value Tax Cost Adjusted Original Estimated Unrealized Gain/Loss Annual Income Accrued Interest Yield Account Page 5 of 8 Page 8 of 16 EFTA01556110 FINANCIAL TRUST COMPANY INC ACCT. For the Period 12/1/10 to 12/31/10 Portfolio Activity Summary Beginning Cash Balance Transactions Income INFLOWS 1,677.21 Contributions Total Inflows OUTFLOWS Total Outflows Withdrawals TRADE ACTIVITY Settled Sales/Maturities/Redemptions Settled Securities Purchased Total Trade Activity Ending Cash Balance * Year to date information is calculated on a calendar year basis. 2,000,000.00 (1,677.21) $1,998,322.79 $0.00 126,336,569.28 (10,095,625.46) $116,240,943.82 -$1,677.21 (2,000,000.00) ($2,000,000.00) 73,116.47 10,000,000.00 $10,073,116.47 (127,336,577.29) ($127,336,577.29 ) Current Period Value 0.00 Year-To-Date Value* -Account Page 6 of 8 Page 9 of 16 EFTA01556111 FINANCIAL TRUST COMPANY INC ACCT. For the Period 12/1/10 to 12/31/10 Portfolio Activity Detail INFLOWS & OUTFLOWS Settlement Date 12/1 Type Domestic Dividend/Distribution Description JPMORGAN PRIME MONEY MARKET FUND CAPITAL SHARE CLASS FUND 3605 FOR NOV @ VARIOUS RATES FROM 0.0003117% TO 0.0003609% 12/9 Misc. Disbursement FUNDS TRANSFERRED FROM ASSET AC# TO DDA AC# AS REQUESTED 12/20 Misc. Disbursement FUNDS TRANSFERRED FROM ASSET AC# TO DDA AC# AS REQUESTED Total Inflows & Outflows ($1,998,322.79) (1,000,000.00) (1,000,000.00) Quantity Cost 15,487,036 020 Per Unit Amount Amount 1,677.21 Account Page 7 of 8 Page 10 of 16 EFTA01556112 FINANCIAL TRUST COMPANY INC ACCT. For the Period 12/1/10 to 12/31/10 TRADE ACTIVITY Settlement Trade Date 12/9 Date 12/9 Type Settled Sales/Maturities/Redemptions Sale Description JPMORGAN PRIME MONEY MARKET FUND CAPITAL SHARE CLASS FUND 3605 @ 1.00 TRADE DATE 12/09/10 12/20 12/20 Sale JPMORGAN PRIME MONEY MARKET FUND CAPITAL SHARE CLASS FUND 3605 @ 1.00 TRADE DATE 12/20/10 Total Settled Sales/Maturities/Redemptions Trade Date Settlement Date 12/1 Type Settled Securities Purchased 12/1 Purchase Description JPMORGAN PRIME MONEY MARKET FUND CAPITAL SHARE CLASS FUND 3605 REINVESTED @ 1.00 PER SHARE Quantity 1,677.210 Per Unit Amount 1.00 $2,000,000.00 ($2,000,000.00) $0.00 (1,000,000.000 ) 1.00 EFTA01556113 1,000,000.00 (1,000,000.00) Quantity (1,000,000.000 ) Per Unit Amount 1.00 Proceeds Tax Cost 1,000,000.00 (1,000,000.00) Realized Gain/Loss Market Cost (1,677.21) Account Page 8 of 8 Page 11 of 16 EFTA01556114 J.P. Morgan Securities LLC FINANCIAL TRUST COMPANY INC 383 Madison Avenue, New York, NY 10179 ACCT. For the Period 12/1/10 to 12/31/10 Margin Account J.P. Morgan Team Paul Morris Janet Young William Doherty III Online access Banker Client Service Team Client Service Team www.MorganOnline.com Transactions cleared and carried through J.P. Morgan Clearing Corp. - One Metrotech Center North, Brooklyn, NY 11201-3859, (347) 643-2578 No market value or activity to report during this period For important information regarding your accounts refer to the rear of your statement 212/464-0701 800/634-1318 Account Page 1 of 1 Page 12 of 16 EFTA01556115 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01556116 For the Period 12/1/10 to 12/31/10 In Case of Errors or Questions About Your Electronic Transfers. Contact your J.P. Morgan Team at one of the telephone numbers on the front of your statements or write us at 500 Stanton Christiana Road, 1/OPS, Newark, DE 19713-2107 as soon as you can, if you think your statement is wrong or if you need more information about a transfer on the statement. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number. (2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is in error or why you need more information. (3) tell us the dollar amount of the suspected error. If you contact us orally, you must send us your complaint or question in writing within 10 business days in order to preserve your rights. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days to do this (20 days for purchases using your debit card or for international transactions), we will credit your account for the amount you think is in error, so that you will have the use of money during the time it takes us to complete our investigation. In case of errors or questions about your statement, including your line of credit. If you think that your statement is incorrect or if you need more information about a transaction on your statement including a line of credit transaction, you must write to us on a separate sheet describing the error and send it to: J.P. Morgan's Private Bank, 500 Stanton Christiana Road, 1/OPS3, Newark, DE 19713-2107. We must hear from you no later than 60 days after the statement on which the error or problem appeared is sent. You can contact your client service specialist but doing so will not preserve your rights. Please review your account statement and promptly report any inaccuracy or discrepancy including possible unauthorized trading activity, unrecorded dividend payments, and unaccounted cash positions in writing to both the introducing broker, JPMS and the clearing firm, JPMCC at the addresses shown on your statement. Any oral communication should be re-confirmed in writing to further protect your rights, including your rights under the Securities Investor Protection Act (SIPA). If you have any questions please contact your JPMS Account Representative or JPMS Compliance Department at (212) 483-2323. In your letter, please provide the following information: (1) your name and account number; (2) the dollar amount of the suspected error; and (3) a description of the error and explanation, if you can, why you believe there is an error. If you need more information, you must describe the item you are unsure about. Important Information about Pricing and Valuations Certain assets including but not limited to, pooled private investments, non - publicly traded and infrequently traded securities, derivatives, partnership interests and tangible assets are generally illiquid, the value of which may have been provided to us by third parties who may not be independent of the issuer or manager. Such information is reflected as of EFTA01556117 the last date provided to us, and is not independently verified. Prices, some of which are provided by pricing services or other sources which we deem reliable, are not guaranteed for accuracy or as realizable values. Market value information (including without limitation, prices, exchange rates, accrued income and bond ratings) furnished herein has been obtained from sources that J.P. Morgan believes to be reliable and is furnished for the exclusive use of the client. J.P. Morgan makes no representation, warranty or guarantee, express or implied, that any quoted value represents the actual terms at which transactions or securities could be bought or sold or new transactions could be entered into, or the actual terms on which existing transactions or securities could be liquidated. The current price is the value of the financial asset share, unit or contract as priced at the close of the market on the last day of the statement period or the last available price. All values provided for structured yield deposits (for example, JPMorgan London Time Deposits) reflect the original deposit amount only. The current value for Real Estate, Mineral Interests and Miscellaneous Assets may not reflect the most current value of the asset. Page 13 of 16 EFTA01556118 For the Period 12/1/10 to 12/31/10 Valuations of over-the-counter derivative transactions, including certain derivatives-related deposit products, have been prepared on a mid-market basis. These valuations are indicative values as of the close of business of the date of this statement and, except as otherwise agreed in writing, these valuations do not represent the actual terms at which transactions or securities could be bought or sold or new transactions could be entered into, or the actual terms on which existing transactions or securities could be liquidated as of the date of this statement. We do not warrant their completeness or accuracy. These valuations are derived from proprietary models based upon well-recognized financial principles and we have, when necessary to calculate the present value of future cash flows, made reasonable estimates about relevant future market conditions. Valuations based on other models or different assumptions may yield different results. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the models or estimates used in deriving the valuations, (2) any errors or omissions in computing or disseminating the valuations, and (3) any uses to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Please refer to the trade confirmation for details of each transaction. Important Information Regarding Auction Rate Securities (ARS). ARS are debt or preferred securities with an interest or dividend rate reset periodically in an auction. Although there may be daily, weekly and monthly resets, there is no guarantee that there will be liquidity. If there are not enough bids at an auction to redeem the securities available for sale, the result may be a failed auction. In the event of a failed auction, there is no assurance that a secondary market will develop or that the security will trade at par or any other price reflected on statements and online.Accordingly, investors should not rely on pricing information appearing in their statements or online with respect to ARS. Where J.P. Morgan was unable to obtain a price from an outside service for a particular ARS, the price column on your statement and online will indicate "$0.00" which however should not be relied on as the price at which ARS would trade. Please review your statements promptly and report any discrepancies immediately to an account officer whose name appears on the contact page of these statements. The JPMorgan Funds or The JPMorgan Institutional Funds or The American Century Funds Shares of the funds are not bank deposits and are not guaranteed by any bank, government entity, or the FDIC. Return and share price will fluctuate and redemption value may be more or less than original cost. While the money market funds seek to maintain a stable net asset value of $1.00 per share, there is no assurance that they will continue to do so. The estimated annual income and dividend yield figures for mutual funds represent the funds' most recent income dividend annualized. The distributor of the JPMorgan Funds is JPMorgan Distribution Services, Inc., which is an affiliate of the J.P.Morgan Bank, NA. The Bank and its EFTA01556119 affiliates receive compensation from JPMorgan Funds for providing services. American Century Investment Services, Inc. is the distributor of the American Century Funds. American Century Investment Management Inc. serves as investment advisor to its respective fund family and receives compensation from that fund family for providing investment advisory and other services. These statements are not official documents for income tax reporting purposes. Offshore Deposits - London and Nassau Deposits in Foreign Branches are not insured by the FDIC or any other Agency of the Federal Government; Amounts in such foreign accounts do not have the benefit of any Domestic preference applicable to U.S Banks; certain Foreign accounts are considered reportable to the Internal Revenue Service on a Report of Foreign Bank and Financial Account (TD F 90-22.1). Fund manager disclosure information available upon request If you have an investment account that is managed by an SEC-Registered Investment Advisor, the Private Bank of J.P. Morgan will provide a copy of the advisor's Form ADV II or brochure upon written request. Additional Information About Your Accounts Securities purchased or sold through J.P.Morgan Securities LLC ("3PMS") (1) other than mutual funds, are cleared through J.P.Morgan Clearing Corp. ("JPMCC"), an affiliate of 3PMS, and (2) other than exchange-listed options and securities held in margin account(s), are held in your Asset Account at 3PMorgan Chase Bank, N.A. Positions in exchange-listed options and in margin account(s) are held by J.P.Morgan Clearing Corp. and are not delivered to or from your Asset Account. For your convenience, however, positions in exchange-listed options are presented in Asset Account statement(s) together with other assets held in such account(s). All pertinent information about your settled and pending purchases and sales effected through your JPMS account during the period covered by these statement(s), is summarized in the "Trade Activity" portion of the statement(s). Page 14 of 16 EFTA01556120 For the Period 12/1/10 to 12/31/10 You should have received separate confirmations for each securities transaction. All transactions are subject to the terms and conditions stated on the reverse side of such confirmations and are subject to the constitution, by-laws, customs and interpretations of the marketplace where executed and governed by and construed in accordance with the laws of the State of New York and all applicable federal laws and regulations. Further information with respect to commissions and other charges related to the execution of transactions, including options transactions, has been included in confirmations that were previously furnished to you. Upon written request, JPMS will promptly supply you with the latest such information. Shareholders of certain JPMorgan Funds are charged a redemption fee equal to 2% of the proceeds if they exchange or redeem shares of such funds within 60 days of purchase, subject to certain exceptions set forth in the prospectus of the applicable Fund. Please consult your J.P. Morgan representative for a list of the JPMorgan Funds that impose redemption fees. JPMCC and JPMS are members of the Securities Investor Protection Corp ("SIPC"), a not-for-profit membership corporation funded by broker-dealers registered with the Securities and Exchange Commission. Securities and cash held for a customer at JPMS and JPMCC are protected by SIPC up to $500,000 per customer, which includes up to $100,000 of protection for cash. SIPC does not protect against losses from fluctuations in the value of the securities. Assets held in custody by JPMorgan Chase Bank, N.A. (the "Bank") are not subject to SIPC. You may obtain information about SIPC, including the SIPC Brochure, on their website, at "www.sipc.org" or by contacting them at (202) 371-8300. To the extent applicable, please read the following disclosures regarding estimated annual income (EAI) and estimated yield (EY): EAI and EY for certain types of securities could include a return of principal or capital gains in which case the EAI and EY would be overstated. EAI and EY are estimates and the actual income and yield might be lower or higher than the estimated amounts. EY reflects only the income generated by an investment. It does not reflect changes in its price, which may fluctuate. JPMS, JPMCB or their affiliates (the "J.P. Morgan Companies") may provide administrative, custodial, sales, distribution or shareholder services to JPMorgan Funds, American Century Funds, or funds established, sponsored, advised, or managed by third parties, and the J.P. Morgan Companies may be compensated for such services. A financial statement of this organization is available to you for personal inspection at its offices, or a copy will be mailed to you upon written request. Bank products and services are offered through JPMCB and its affiliates. Securities are offered by JPMS and, to the extent noted above, cleared through JPMCC. If a partial call is made with respect to an issue of securities included in your Accounts we will allocate the call by a method we deem fair and equitable. EFTA01556121 You must promptly advise JPMS of material changes in your investment objectives or financial situation. Unless you inform JPMS otherwise, JPMS will consider the information currently in its files to be complete and accurate. JPMS is not a bank and is a separate legal entity from its bank or thrift affiliates, including JPMCB. The securities sold, offered, or recommended by JPMS: (1) Are not insured by the Federal Deposit Insurance Corporation, or any other governmental agency; (2) Are not deposits or other obligations of JPMS's bank or thrift affiliates (unless otherwise indicated), and are not guaranteed by or the responsibility of any such affiliates (unless explicitly stated otherwise); and (3) Involve investment risks, including possible loss of the principal invested. JPMS's banking affiliates may be lenders to issuers of securities that JPMS underwrites, in which case proceeds of offerings underwritten by JPMS may be used for the repayment of such loans, and you should refer to the disclosure documents relating to particular securities for discussion of any such lending relationships. The Federal Reserve requires that JPMS obtain your consent before it can obtain certain information from its bank or thrift affiliates, including their credit evaluation of you. We will assume that your continuing to transact business with JPMS will constitute your consent to the sharing of such information by JPMS and its bank or thrift affiliates, to the extent permitted by law. IMPORTANT ADDITIONAL INFORMATION SPECIFIC TO YOUR MARGIN ACCOUNT(S) All positions in your Margin Account Portfolio(s) are held in custody at J.P. Morgan Clearing Corp. ("JPMCC"), One Metrotech Center North, Brooklyn, NY 11201-3859, (347) 643-2578. Contact your client service specialist if you think statements are incorrect or you require additional information about a transaction on your statement(s). Page 15 of 16 EFTA01556122 For the Period 12/1/10 to 12/31/10 If you have a margin account with J.P.Morgan, as permitted by law we may use certain securities in such account for, among other things, settling short sales and lending the securities for short sales, and as a result may receive compensation in connection therewith. Please keep the following in mind when using a statement to track your brokerage activity in a margin account: The statement combines your general margin account with the special memorandum account required by Section 220.6 Regulation T. As required by Regulation T, a permanent record of your separate account is available upon your request. Free credit balances in your margin account(s) are not segregated and may be used in the operation of JPMCCs business, subject to the limitations of SEC Rule 15c3-3. Unless otherwise noted, JPMCC or its agents and depositories will hold your securities. Upon your demand, JPMCC will pay to you the amount of your free credit balance, and will deliver to you fully-paid securities held on your behalf. Interest will be charged on any debit balance; the method of calculating interest is described in a letter sent to all margin customers. Page 16 of 16 EFTA01556123