Exhibit 1(l)

                            CERTIFICATE OF FORMATION

                                       OF

                         QUANTITATIVE MASTER SERIES LLC

      This Certificate of Formation is being filed pursuant to Section 18-214(b)
of the Delaware Limited Liability  Company Act, 6 Del. C. ss.ss.  18-101 et seq.
(the  "Delaware LLC Act"),  in connection  with the  conversion of  Quantitative
Master Series Trust, a Delaware statutory trust, to a Delaware limited liability
company.

      The   undersigned,   being  duly  authorized  to  execute  and  file  this
Certificate of Formation, does hereby certify as follows:

      1. Name. The name of the limited liability company is Quantitative  Master
Series LLC (the "Company").

      2. Registered Office and Registered Agent. The Company's registered office
in the State of  Delaware  is  located  at 2711  Centerville  Road,  Suite  400,
Wilmington,  New Castle County,  Delaware  19808.  The  registered  agent of the
Company for service of process at such address is Corporation Service Company.

      3. Series LLC. Notice is hereby given that,  pursuant to Section 18-215(b)
of the Delaware LLC Act, the Company has or may establish one or more designated
series and that the  debts,  liabilities,  obligations  and  expenses  incurred,
contracted for or otherwise  existing with respect to a particular series of the
Company  shall be  enforceable  against  the assets of such  series only and not
against the assets of the Company  generally or any other series  thereof,  and,
unless  otherwise  provided in the limited  liability  company  agreement of the
Company,  none of the debts,  liabilities,  obligations  and expenses  incurred,
contracted  for or otherwise  existing with respect to the Company  generally or
any other series thereof shall be enforceable against the assets of such series.

      4. Effective Time.  This  Certificate of Formation shall be effective upon
its filing in the Office of the Secretary of State of the State of Delaware.

                            [SIGNATURE PAGE FOLLOWS]




      IN WITNESS WHEREOF,  the undersigned has duly executed this Certificate of
Formation as of June 15, 2007.

                                                     /s/ Alice A. Pellegrino
                                                     -----------------------
                                                     Name:  Alice A. Pellegrino
                                                     An Authorized Person


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