The value of the interests in the Fund is represented by the Net Asset Value (NAV) which is the sum of assets under management (AUM) and capital in the escrow accounts awaiting investment. For the Partner, the NAV is determined by the AUM of their capital accounts and escrow funds. For the Fund, the NAV is the aggregate of the AUM of the capital accounts and escrow funds of all Partners of the Fund. Using escrow accounts avoids diluting the Limited Partner and the Performance of the Fund. To determine the value of the capital accounts for open position the Fund uses “mark to market”. (See Exhibit A, “Limited Partnership Agreement” Section 6 ACCOUNTING)