Net Asset Value

2006
Date Net Asset Value per Unit
(unaudited)
December 31 $156.32
November 30 $151.31
October 31 $141.86
September 30 $137.09
August 31 $137.03
July 31 $129.88
June 30 $126.80
May 31 $124.88
April 30 $129.16
March 31 $118.86
February 28 $115.30
January 31 $112.79

2005
Date Net Asset Value per Unit
(unaudited)
December 31 $108.37
November 30 $102.96
October 31 $99.62
September 30 $100.12
August 31 $86.96
July 31 $84.44
June 30 $86.57
May 31 $89.50
April 30 $84.13
March 31 $84.53
February 28 $84.28
January 31 $78.17

2004
Date Net Asset Value per Unit
(unaudited)
December 31 $79.85
November 30 $78.97
October 31 $79.20
September 30 $70.73
August 31 $69.15
July 31 $67.80
June 30 $69.46
May 31 $67.16
April 30 $57.81
March 31* $63.61
February 28 $96.02
January 31 $81.45
*Reflects the issuance of Class AA, Series 1 Preferred Shares (BNA.PR.B), which were issued in connection with the acquisition of an additional 2 million shares of Brascan. For more information, please see the News section.

2003
Date Net Asset Value per Unit
(unaudited)
December 31 $76.38
November 30 $74.01
October 31 $72.09
September 30 $65.63
August 31 $69.21
July 31 $66.90
June 30 $63.92
May 31 $61.52
April 30 $62.19
March 31 $56.58
February 28 $56.43
January 31 $57.67

2002
Date Net Asset Value per Unit
(unaudited)
December 31 $61.04
November 30 $59.13
October 31 $58.90
September 30 $60.96
August 31 $63.82
July 31 $63.30
June 30 $67.26
May 31 $68.32
April 30 $67.09
March 31 $65.38
February 28 $60.63
January 31 $54.50

2001
Date Net Asset Value per Unit
(unaudited)
December 31 $55.27
November 30 $50.94

For the current NAV, please click here.