The CFTC Division of Swap Dealer and Intermediary Oversight issued exemptive relief to a Commodity Pool Operator of a Feeder Fund in a master-feeder fund structure from the Annual Report filing and certification requirements of CFTC Rule 4.7(b)(3). The relief permits the filing of a 15-month audited Annual Report and was granted in order to facilitate the pool's recent change of its fiscal year. The relief issued by this letter does not excuse persons relying on it from compliance with any other applicable requirements contained in the Commodity Exchange Act or other relevant CFTC regulations.

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