This number is the market value of the portfolio at the end of the time period shown based on the number of shares remaining in the investment selections and their price on that date. The number of shares remaining reflects all options selected by the investor, including sales charges, reinvestment of dividends and capital gains, taxes, and whether or not the portfolio has been liquidated.
For all positions liquidated on the portfolio end date, the proceeds are included in this figure. Also, this figure may differ from the last Market Value figure in the Investment Detail area of the report because any tax payments and wrap fee charges levied on the portfolio end date are subtracted here.