Method of borrowing, investing and managing and investment fund

摘要

Investors purchase shares of a closed-end investment fund of tuition package repurchase agreements with a university. On a specified date, the university receives cash based on their current tuition rates times the number of repurchase agreements into which they have entered. As the contractual repurchase agreements reach their specified maturity dates, the university is required to repay the fund in an amount corresponding to tuition rates prevailing at the stated maturity date. Monies collected from universities would be used to repay investors commensurate with the shares held.