March 31, 2001 AUM definition
March 31, 2001 AUM means the sum, as of 4:00 p.m. (New York time) on March 31, 2001, of (i) the aggregate net asset values, calculated in accordance with the Investment Company Act of 1940, as amended, and the rules and regulations thereunder, of the Funds (as hereinafter defined) and the Offshore Funds (as hereinafter defined) plus (ii) the aggregate net asset values, determined in substantially the same manner, of the accounts managed by the Subsidiaries for investment advisory clients (other than the Funds and the Offshore Funds) ("Non-Fund Clients"). Exhibit C sets forth the March 31, 2001 AUM.