Altamira Releases Updated Financial Statements, Plenty of ABCP.

Altamira has released its June 30 2007 financial statements. A quick search reveals some astonishing finds. For example, the Precision European RSP Index Fund had 37%.

The Precision U.S. RSP Index fund had 44.91% of its assets in commercial paper (including Comet, Planet, Aurora, Apsley, Silverstone, etc.). THe web site (today August 30) mentions the fund's objective as:

"The Fund is ideal for the investor who is looking to match the returns of the S&P 500 Index (in $US returns) with a hedge against currency fluctuations and who is willing to endure an above average degree of volatility."

The Precision European RSP Index fund's objectives were: "The Fund seeks long-term growth of capital by tracking the performance of the FTSE Eurotop 100 Index*." This fund had 38.05% of its assets in commercial paper, including Zeus, Planet Trust, Silverstone, Ironstone and others.

The Altamira Precision International RSP Index Fund had 44.91% of its holdings in commercial paper, see contents below.

Comet Trust 4.40%, due July 3, 2007 3,000,000 Skeena Trust 4.40%, due July 3, 2007 2,500,000 Symphony Trust 4.49%, due July 3, 2007 3,000,000 Zeus Receivable Trust 4.38%, due July 4, 2007 4,000,000 Planet Trust 4.37%, due July 5, 2007 700,000 4.50%, due July 6, 2007 3,000,000 Opus Trust 4.50%, due July 6, 2007 3,000,000 Structured Investment Trust 4.50%, due July 6, 2007 3,100,000 Sound Trust 4.37%, due July 9, 2007 5,000,000 Silverstone Trust 4.39%, due July 12, 2007 3,000,000 White Hall Trust 4.39%, due July 12, 2007 3,000,000 Apsley Trust 4.50%, due July 26, 2007 3,000,000 Encore Trust 4.67%, due September 19, 2007 3,000,000 Aurora Trust 4.68%, due September 19, 2007 3,600,000 Great North Trust 4.68%, due September 19, 2007 3,000,000 Ironstone Trust 4.68%, due September 19, 2007 3,000,000 Opus Trust 4.68%, due September 19, 2007 600,000 Comet Trust 4.72%, due September 24, 2007 2,000,000 Opus Trust 4.63%, due September 27, 2007 3,000,000 Depfa Bank 4.64%, due September 28, 2007 2,500,000

Source: http://altamira.com/resources/e_seminannuals.pdf