-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UTB56VwDj85pcqipxVaBV/gCX8S76tlOuGSXi/V/Vy+H9f0y1dY5+pEOoPKrKnGS Tg2zpOuF7CEUnbPdsGLL/g== 0001193125-09-230883.txt : 20091110 0001193125-09-230883.hdr.sgml : 20091110 20091110172725 ACCESSION NUMBER: 0001193125-09-230883 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20091110 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20091110 DATE AS OF CHANGE: 20091110 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DB Multi-Sector Commodity Master Trust CENTRAL INDEX KEY: 0001367305 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33232 FILM NUMBER: 091173018 BUSINESS ADDRESS: STREET 1: C/O DB COMMODITY SERVICES LLC STREET 2: 60 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: (212) 250-5883 MAIL ADDRESS: STREET 1: C/O DB COMMODITY SERVICES LLC STREET 2: 60 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 FORMER COMPANY: FORMER CONFORMED NAME: DB Multi-Sector Master Trust DATE OF NAME CHANGE: 20060623 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares DB Multi-Sector Commodity Trust CENTRAL INDEX KEY: 0001367306 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33229 FILM NUMBER: 091173010 BUSINESS ADDRESS: STREET 1: C/O DB COMMODITY SERVICES LLC STREET 2: 60 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: (212) 250-5883 MAIL ADDRESS: STREET 1: C/O DB COMMODITY SERVICES LLC STREET 2: 60 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 FORMER COMPANY: FORMER CONFORMED NAME: DB Multi-Sector Commodity Trust DATE OF NAME CHANGE: 20060626 FORMER COMPANY: FORMER CONFORMED NAME: DB Multi-Sector Trust DATE OF NAME CHANGE: 20060623 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POWERSHARES DB SILVER FUND CENTRAL INDEX KEY: 0001383054 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778072 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33234 FILM NUMBER: 091173021 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares DB Gold Fund CENTRAL INDEX KEY: 0001383055 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778067 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33231 FILM NUMBER: 091173006 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DB Gold Master Fund CENTRAL INDEX KEY: 0001383056 IRS NUMBER: 870778071 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33230 FILM NUMBER: 091173014 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares DB Precious Metals Fund CENTRAL INDEX KEY: 0001383057 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778065 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33244 FILM NUMBER: 091173007 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares DB Oil Fund CENTRAL INDEX KEY: 0001383058 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778062 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33242 FILM NUMBER: 091173008 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DB Precious Metals Master Fund CENTRAL INDEX KEY: 0001383059 IRS NUMBER: 870778066 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33243 FILM NUMBER: 091173015 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DB Oil Master Fund CENTRAL INDEX KEY: 0001383060 IRS NUMBER: 870778063 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33241 FILM NUMBER: 091173016 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DB Energy Master Fund CENTRAL INDEX KEY: 0001383061 IRS NUMBER: 870778061 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33239 FILM NUMBER: 091173017 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares DB Energy Fund CENTRAL INDEX KEY: 0001383062 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778060 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33240 FILM NUMBER: 091173009 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DB AGRICULTURE MASTER FUND CENTRAL INDEX KEY: 0001383081 IRS NUMBER: 870778079 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33237 FILM NUMBER: 091173011 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POWERSHARES DB AGRICULTURE FUND CENTRAL INDEX KEY: 0001383082 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778078 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33238 FILM NUMBER: 091173019 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DB BASE METALS MASTER FUND CENTRAL INDEX KEY: 0001383083 IRS NUMBER: 870778076 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33235 FILM NUMBER: 091173012 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POWERSHARES DB BASE METALS FUND CENTRAL INDEX KEY: 0001383084 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 870778075 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33236 FILM NUMBER: 091173020 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DB SILVER MASTER FUND CENTRAL INDEX KEY: 0001383086 IRS NUMBER: 870778074 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33233 FILM NUMBER: 091173013 BUSINESS ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 212-250-5883 MAIL ADDRESS: STREET 1: 60 WALL STREET STREET 2: C/O DB COMMODITY SERVICES LLC CITY: NEW YORK STATE: NY ZIP: 10005 8-K 1 d8k.htm FORM 8-K FORM 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report: November 10, 2009

 

 

POWERSHARES DB MULTI-SECTOR COMMODITY TRUST

(Registrant)

 

 

POWERSHARES DB ENERGY FUND; POWERSHARES DB OIL FUND; POWERSHARES DB

PRECIOUS METALS FUND; POWERSHARES DB GOLD FUND; POWERSHARES DB SILVER

FUND; POWERSHARES DB BASE METALS FUND; POWERSHARES DB AGRICULTURE FUND

DB MULTI-SECTOR COMMODITY MASTER TRUST

DB ENERGY MASTER FUND; DB OIL MASTER FUND; DB PRECIOUS METALS MASTER

FUND; DB GOLD MASTER FUND; DB SILVER MASTER FUND; DB BASE METALS MASTER

FUND; DB AGRICULTURE MASTER FUND

(Co-Registrants)

(Exact Name of each Registrant as Specified in its Charter)

 

PowerShares DB Multi-Sector Commodity Trust – Delaware

DB Multi-Sector Commodity Master Trust – Delaware

  

87-0778053 (Trust)

87-0778057 (Master Trust)

(State or Other Jurisdiction of Incorporation or Organization)   (IRS Employer ID Number(s))

c/o DB Commodity Services LLC

60 Wall Street

New York, New York

   10005
(Address of Principal Executive Offices)   (Zip Code)

001-33229; 001-33240; 001-33242; 001-33244; 001-33231; 001-33234; 001-33236; 001-33238;

001-33232; 001-33239; 001-33241; 001-33243; 001-33230; 001-33233; 001-33235; and 001-33237

(Commission File Number(s))

(212) 250-5883

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 8.01. Other Events.

This current report on Form 8-K relates to the Unaudited Financial Statements of DB Commodity Services LLC (“DBCS”) for the nine-months ended September 30, 2009. DBCS is the Managing Owner of PowerShares DB Multi-Sector Commodity Trust, PowerShares DB Energy Fund, PowerShares DB Oil Fund, PowerShares DB Precious Metals Fund, PowerShares DB Gold Fund, PowerShares DB Silver Fund, PowerShares DB Base Metals Fund, PowerShares DB Agriculture Fund, DB Multi-Sector Commodity Master Trust, DB Energy Master Fund, DB Oil Master Fund, DB Precious Metals Master Fund, DB Gold Master Fund, DB Silver Master Fund, DB Base Metals Master Fund and DB Agriculture Master Fund. The DBCS Unaudited Financial Statements for the nine-months ended September 30, 2009 are attached hereto as Exhibits 99.1 and are being filed herewith.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibit is filed herewith and this list is intended to constitute the exhibit index:

 

Number

   

Exhibit Title

Exhibit 99.1    Unaudited Financial Statements of DB Commodity Services LLC for the nine-months ended September 30, 2009

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer
PowerShares DB Energy Fund, a series of PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer

PowerShares DB Oil Fund, a series of PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer
PowerShares DB Precious Metals Fund, a series of PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer
PowerShares DB Gold Fund, a series of PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer

PowerShares DB Silver Fund, a series of PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer
PowerShares DB Base Metals Fund, a series of PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer
PowerShares DB Agriculture Fund, a series of PowerShares DB Multi-Sector Commodity Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer

DB Multi-Sector Commodity Master Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer
DB Energy Master Fund, a series of DB Multi-Sector Commodity Master Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer
DB Oil Master Fund, a series of DB Multi-Sector Commodity Master Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer

DB Precious Metals Master Fund, a series of DB Multi-Sector Commodity Master Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer
DB Gold Master Fund, a series of DB Multi-Sector Commodity Master Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer
DB Silver Master Fund, a series of DB Multi-Sector Commodity Master Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer

DB Base Metals Master Fund, a series of DB Multi-Sector Commodity Master Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer
DB Agriculture Master Fund, a series of DB Multi-Sector Commodity Master Trust
By:   DB Commodity Services LLC,
  its Managing Owner
By:   /s/    HANS EPHRAIMSON        
Name:   Hans Ephraimson
Title:   Chief Executive Officer
By:   /s/    MICHAEL GILLIGAN        
Name:   Michael Gilligan
Title:   Principal Financial Officer

Date: November 10, 2009

EX-99.1 2 dex991.htm UNAUDITED FINANCIAL STATEMENTS OF DB COMMODITY SERVICES LLC UNAUDITED FINANCIAL STATEMENTS OF DB COMMODITY SERVICES LLC

Exhibit 99.1

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Financial Statements

September 30, 2009

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Statements of Financial Condition

September 30, 2009 (unaudited) and December 31, 2008

 

      September 30, 2009    December 31, 2008
Assets      

Due from DB Exchange Traded Funds

    $ 4,770,905    1,901,076

Investment in DB Exchange Traded Funds, at fair value

      24,198    21,238

Due from affiliate, net

      34,696,481    20,676,128
           

Total assets

    $ 39,491,584    22,598,442
           
Liabilities and Member’s Capital      

Liabilities:

      

Accrued expenses

    $ 8,273,256    8,795,506
           

Total liabilities

      8,273,256    8,795,506
           

Member’s capital

      31,218,328    13,802,936
           

Total liabilities and member’s capital

    $ 39,491,584    22,598,442
           

See accompanying notes to unaudited financial statements.

 

1

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Unaudited Statements of Income and Expenses

For the Nine Months Ended September 30, 2009 and 2008

 

     2009    2008

Income:

      

Management fees

    $ 31,273,664    33,041,368

Change in net unrealized appreciation in investment DB Exchange Traded Funds

      2,960    3,838
           

Total income

    $ 31,276,624    33,045,206
           

Expenses:

      

Legal fees

      1,461,347    2,148,044

Audit fees and tax services

      4,449,820    5,798,760

Printing services

      423,167    1,698,536

Administrator and Trustee fees

      2,086,170    2,118,640

Distribution fees

      5,211,032    5,559,094

Other

      229,696    1,040,795
           

Total expenses

      13,861,232    18,363,869
           

Net income

    $ 17,415,392    14,681,337
           

See accompanying notes to unaudited financial statements.

 

2

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Unaudited Statements of Changes in Member’s Capital (Deficit)

For the Nine Months Ended September 30, 2009 and 2008

 

     2009    2008  

Member’s capital (deficit), opening balance

    $ 13,802,936    (2,252,898 ) 

Net income

      17,415,392    14,681,337   
             

Member’s capital, closing balance

    $ 31,218,328    12,428,439   
             

See accompanying notes to unaudited financial statements.

 

3

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Unaudited Statements of Cash Flows

For the Nine Months Ended September 30, 2009 and 2008

 

     2009     2008  

Cash flows from operating activities:

     

Net income

    $ 17,415,392      14,681,337   

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

     

(Increase) decrease in operating assets:

     

Due from DB Exchange Traded Funds

      (2,869,829 )    (4,640,549 ) 

Due from affiliate, net

      (14,020,353 )    (13,656,595 ) 

Net change in unrealized gain on Investment in DB Exchange Traded Funds

      (2,960 )    (3,838 ) 

Increase (decrease) in operating liabilities:

     

Accrued expenses

      (522,250 )    3,619,645   
              

Net cash provided by (used in) operating activities

      —        —     

Cash and cash equivalents at beginning of period

      —        —     
              

Cash and cash equivalents at end of period

    $ —        —     
              

See accompanying notes to unaudited financial statements.

 

4

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Notes to Unaudited Financial Statements

September 30, 2009

 

(1) Organization and Basis of Presentation

DB Commodity Services LLC (the Company), a Delaware limited liability company, was formed on May 23, 2005, and is an indirect wholly owned subsidiary of Deutsche Bank AG and a direct wholly owned subsidiary of DB U.S. Financial Markets Holding Corporation. The Company is registered as a commodity pool operator and commodity trading advisor with the Commodity Futures Trading Commission and is a member of the National Futures Association.

The Company serves as the managing owner, commodity pool operator, and commodity trading advisor to the following funds:

 

  •  

PowerShares DB Commodity Index Tracking Fund; a Delaware statutory trust organized on May 23, 2005; commenced investment operations on January 31, 2006 (the DBC Feeder Fund). DBC Feeder Fund was originally named “DB Commodity Index Tracking Fund” and changed its name to “PowerShares DB Commodity Index Tracking Fund” effective August 10, 2006,

 

  •  

DB Commodity Index Tracking Master Fund; a Delaware statutory trust organized on May 23, 2005; commenced investment operations on January 31, 2006 (the DBC Master Fund),

 

  •  

PowerShares DB G10 Currency Harvest Fund; a Delaware statutory trust organized on April 12, 2006; commenced investment operations on September 15, 2006 (the DBV Feeder Fund). DBV FeederFund was originally named “DB Currency Index Value Fund” and changed its name to “PowerShares DB G10 Currency Harvest Fund” effective July 20, 2006,

 

  •  

DB G10 Currency Harvest Master Fund; a Delaware statutory trust organized on April 12, 2006; commenced investment operations on September 15, 2006 (the DBV Master Fund). DBV Master Fund was originally named “DB Currency Index Value Master Fund” and changed its name to “DB G10 Currency Harvest Master Fund” effective July 20, 2006,

 

  •  

PowerShares DB Multi-Sector Commodity Trust; a Delaware statutory trust, in seven separate series, or Funds, organized on August 3, 2006; commenced investment operations on January 3, 2007:

 

  •  

PowerShares DB Energy Fund (the DBE Feeder Fund),

 

  •  

PowerShares DB Oil Fund (the DBO Feeder Fund),

 

  •  

PowerShares DB Precious Metals Fund (the DBP Feeder Fund),

 

  •  

PowerShares DB Gold Fund (the DGL Feeder Fund),

 

  •  

PowerShares DB Silver Fund (the DBS Feeder Fund),

 

  •  

PowerShares DB Base Metals Fund (the DBB Feeder Fund),

 

5

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Notes to Unaudited Financial Statements

September 30, 2009

 

  •  

PowerShares DB Agriculture Fund (the DBA Feeder Fund).

 

  •  

DB Multi-Sector Commodity Master Trust; a Delaware statutory trust, in seven separate series, or Master Funds, organized on August 3, 2006; commenced investment operations on January 3, 2007:

 

  •  

DB Energy Master Fund (the DBE Master Fund),

 

  •  

DB Oil Master Fund (the DBO Master Fund),

 

  •  

DB Precious Metals Master Fund (the DBP Master Fund),

 

  •  

DB Gold Master Fund (the DGL Master Fund),

 

  •  

DB Silver Master Fund (the DBS Master Fund),

 

  •  

DB Base Metals Master Fund (the DBB Master Fund),

 

  •  

DB Agriculture Master Fund (the DBA Master Fund).

 

  •  

PowerShares DB US Dollar Index Trust; a Delaware statutory trust, in two separate series, or Funds, organized on August 3, 2006; commenced investment operations on February 15, 2007:

 

  •  

PowerShares DB US Dollar Index Bullish Fund (the UUP Feeder Fund),

 

  •  

PowerShares DB US Dollar Index Bearish Fund (the UDN Feeder Fund).

 

  •  

DB US Dollar Index Master Trust; a Delaware statutory trust, in two separate series, or Master Funds, organized on August 3, 2006; commenced investment operations on February 15, 2007:

 

  •  

DB US Dollar Index Bullish Master Fund (the UUP Master Fund),

 

  •  

DB US Dollar Index Bearish Master Fund (the UDN Master Fund).

 

  •  

DB-New York Nuclear Uranium Fund; a Delaware statutory trust organized on October 1, 2007 and has not yet commenced investment operations.

The above noted Feeder Funds and Master Funds will be collectively referred to herein as the “DB Exchange Traded Funds”, “Funds”, “Feeder Funds”, or the “Master Funds”, as applicable.

 

(2) Summary of Significant Accounting Policies

 

  (a) Basis of Accounting

The accompanying financial statements have been prepared in conformity with U.S. generally accepted accounting principles.

 

6

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Notes to Unaudited Financial Statements

September 30, 2009

 

  (b) Use of Estimates

The preparation of the financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses, and related disclosure of contingent assets and liabilities during the reporting period of the financial statements and accompanying notes. Actual results could differ from those estimates.

 

  (c) Due from DB Exchange Traded Funds

Due from DB Exchange Traded Funds represents outstanding management fees for services provided to the DB Exchange Traded Funds as commodity pool operator, commodity trading advisor and managing owner. The fees are recorded at the invoiced amounts and do not bear interest. Management has determined that there was no risk of unrecoverable amounts, and therefore, no allowance for doubtful accounts was provided for as of September 30, 2009 or December 31, 2008.

 

  (d) Investment in DB Exchange Traded Funds

The Company’s investments in DB Exchange Traded Funds consist of capital contributions in the general shares of the Funds.

Upon the establishment of the Funds, the Company’s investment represents 100% ownership and is stated at cost. Upon commencement of the Funds’ investment operations and issuance of the Funds’ Shares, the Company’s general share ownership of the Feeder Funds is recorded as capital in the consolidated financial statements of the Funds, and the Company’s general share ownership of the Master Funds is recorded as a non-controlling interest.

 

  (e) Income Taxes

The Company is a limited liability company and did not elect to be taxable as a corporation for U.S. income tax purposes. Accordingly, the Company will not incur U.S. income taxes. No provision for federal, state, and local income taxes has been made in the accompanying financial statements, as its owner-member is liable for income taxes, if any, on the Company’s income, loss, and other items and there is no tax-sharing arrangement between the Company and its owner-member. Based on the effective tax rate of the Company’s owner member, the Company’s pro-rata income tax expense would be approximately $5,200,000 and $4,400,000 for the federal tax, $1,200,000 and $1,000,000 for the New York State tax, and $1,300,000 and $1,100,000 for the New York City tax for the nine-month period ended September 30, 2009 and 2008, respectively. The following is the major tax jurisdiction for the Company and the earliest tax year subject to examination: United States – 2005.

 

7

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Notes to Unaudited Financial Statements

September 30, 2009

 

  (f) Revenue Recognition

Fees for management services are recognized on an accrual basis when earned. Fees for management services are accrued for each of the Master Funds monthly. No separate fee is received from each of the Feeder Funds.

 

(3) Related Party Transactions

 

  (a) Management Fees and Due from DB Exchange Traded Funds

The DBA, DBB, DBC, DBE, DBP, and DBV Master Funds pay the Company a management fee, monthly in arrears, in an amount equal to 0.75% per annum of their net asset values.

The DBO, DBS, DGL, UDN, and UUP Master Funds pay the Company a management fee, monthly in arrears, in an amount equal to 0.50% per annum of their net asset values.

During the Nine Months Ended September 30, 2009 and 2008 the Company earned management fees of $31,273,664 and $33,041,368, respectively. As of September 30, 2009 and December 31, 2008 Due from DB Exchange Traded Funds were $4,770,905 and $1,901,076.

 

     2009    2008    2009 Due
from DB		    2008 Due
from DB
     Management
fees		    Management
fees		    Exchange-
Traded Funds		    Exchange-
Traded Funds

DBA Master Fund

    $ 10,358,599    13,067,703    1,384,863    627,835

DBB Master Fund

      1,185,526    530,818    234,562    21,332

DBC Master Fund

      13,071,788    12,856,736    2,118,925    689,981

DBE Master Fund

      823,167    611,368    180,348    21,326

DBO Master Fund

      749,870    185,370    121,293    27,885

DBP Master Fund

      736,182    553,993    106,287    46,086

DBS Master Fund

      250,929    198,595    29,051    17,198

DBV Master Fund

      1,705,054    3,014,436    224,217    187,455

DGL Master Fund

      430,966    280,356    64,041    30,192

UDN Master Fund

      915,752    330,739    139,518    51,585

UUP Master Fund

      1,045,831    1,411,254    167,800    180,201
                     
   $ 31,273,664    33,041,368    4,770,905    1,901,076
                     

 

  (b) Organization and Offering Costs

The Company assumes all organization and offering costs of the Funds and Master Funds. Expenses incurred with the continuous offering of limited shares will also be paid by the Company.

 

8

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Notes to Unaudited Financial Statements

September 30, 2009

 

  (c) Administration Expenses

The Company assumes all routine operational, administrative and other ordinary expenses of the Funds and Master Funds, including, but not limited to, computer services, the fees and expenses of the Trustee, legal and accounting fees and expenses, audit and tax preparation expenses, filing fees and printing, mailing and duplication costs. Accordingly, such expenses are recorded in the statement of income and expenses of the Company. Please refer to note 6 for further details on service agreements.

 

  (d) Service Agreement

The Company, in its capacity as the managing owner and on behalf of the Funds, entered into a service agreement with Deutsche Bank AG for services including, but not limited to, trading, accounting, legal, human resources, and other. The costs of these services are assumed by Deutsche Bank AG with no cost allocation to the Company or the Funds.

 

  (e) Due from Affiliate, Net

Deutsche Bank AG New York Branch provides the Company with a cash facility to cover its operational expenses and to deposit management fees received from the DB Exchange Traded Funds. This cash management program is non-interest bearing and there is no expiration date. As of September 30, 2009 and December 31, 2008, the Company had a net receivable from affiliate of $34,696,481 and $20,676,128, respectively.

 

(4) Investments in DB Exchange Traded Funds

Investments in DB Exchange Traded Funds as of September 30, 2009 and December 31, 2008 are:

 

     2009    2008

DB-New York Nuclear Uranium Fund

    $ 1,000    $ 1,000

PowerShares DB Commodity Index Tracking Fund

      887      857

DB Commodity Index Tracking Master Fund

      887      857

PowerShares DB G10 Currency Harvest Fund

      920      780

DB G10 Currency Harvest Master Fund

      920      780

PowerShares DB Energy Fund

      951      833

DB Energy Master Fund

      951      833

PowerShares DB Oil Fund

      997      811

DB Oil Master Fund

      997      811

PowerShares DB Precious Metals Fund

      1,412      1,189

DB Precious Metals Master Fund

      1,412      1,189

PowerShares DB Gold Fund

      1,450      1,287

DB Gold Master Fund

      1,450      1,287

PowerShares DB Silver Fund

      1,190      811

 

9

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Notes to Unaudited Financial Statements

September 30, 2009

 

     2009    2008

DB Silver Master Fund

      1,190      811

PowerShares DB Base Metals Fund

      737      477

DB Base Metals Master Fund

      737      477

PowerShares DB Agriculture Fund

      1,025      1,038

DB Agriculture Master Fund

      1,025      1,038

PowerShares DB US Dollar Index Bullish Fund

      911      989

DB US Dollar Index Bullish Master Fund

      911      989

PowerShares DB Bearish Index Tracking Fund

      1,119      1,047

DB US Dollar Index Bearish Master Fund

      1,119      1,047
             
   $ 24,198    $ 21,238
             

The Company’s ownership in each of the above DB Exchange Traded Funds represents less than 1.0%.

 

(5) Accrued Expenses

Accrued expenses as of September 30, 2009 and December 31, 2008 consist of the following:

 

     2009    2008

Audit fees and tax services

    $ 4,425,000    6,189,411

Distribution fees

      2,442,819    323,243

Administrator and trustees fees

      609,540    489,861

Legal fees

      500,000    1,230,301

Printing services

      165,000    372,690

Other

      130,897    190,000
           
   $ 8,273,256    8,795,506
           

 

(6) Service Agreements

 

  (a) Trust Agreement

Under the trust agreement of the Funds, Wilmington Trust Company (the Trustee of the Funds) has delegated to the Company the exclusive management and control of all aspects of the business of the Funds.

Trustee fees are paid on behalf of the Funds by the Company.

 

  (b) Administration Agreement

The Company, in its capacity as the managing owner and on behalf of each of the Funds and Master Funds, has appointed The Bank of New York Mellon as the administrator (the Administrator), custodian and transfer agent of the Funds and has entered into separate administrative, custodian, transfer agency and service agreements (collectively referred to

 

10

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Notes to Unaudited Financial Statements

September 30, 2009

 

as the Administration Agreement). The Administrator performs or supervises the performance of services necessary for the operation and administration of each of the Funds (other than making investment decisions), including receiving and processing orders to create and redeem shares of the Funds, net asset value calculations, accounting, and other fund administrative services.

The Administrator’s monthly fees are paid on behalf of the Funds by the Company.

 

  (c) Distribution Services Agreement

ALPS Distributors, Inc. (the Distributor) provides certain distribution services to the Funds. Pursuant to the Distribution Services Agreement between the Company in its capacity as managing owner of the Funds and the Distributor, the Distributor assists the Company and the Administrator with certain functions and duties relating to distribution and marketing including reviewing and approving marketing materials.

The Distribution Services Agreement is terminable without penalty on sixty days’ written notice by the Company or by the Distributor. The Distribution Services Agreement will automatically terminate in the event of its assignment.

Distribution fees are paid on behalf of the Funds by the Company.

 

  (d) License Agreement

Under the License Agreement among Invesco PowerShares Capital Management LLC (the Licensor), and the Company in its own capacity, and in its capacity as the managing owner and on behalf of the Funds, the Licensor granted to the Funds a nonexclusive license to use the PowerShares® trademark (the Trademark) anywhere in the world, solely in connection with the marketing and promotion of the Funds and to use or refer to the Trademark in connection with the issuance and trading of the Funds’ shares as necessary.

License fees are paid on behalf of the Funds by the Company.

 

  (e) Marketing Agreement

Pursuant to a marketing agreement between Invesco AIM Distributors, Inc. an affiliate of the Licensor and the Company in its capacity as the managing owner and on behalf of the Funds, Invesco AIM Distributors, Inc. assists the Company and the Administrator with certain functions and duties such as providing various educational and marketing activities regarding each of the Funds, primarily in the secondary trading market. Activities include, but are not limited to, communicating each of the Funds’ names, characteristics, uses, benefits, and risks, consistent with the prospectus, engagement in public seminars, road shows, conferences, media interviews, fielding incoming telephone “800” number calls, and distributing sales literature and other communications (including electronic media) regarding each of the Funds. Invesco AIM Distributors, Inc. will not open customer accounts or handle orders for the Funds.

 

11

DB COMMODITY SERVICES LLC

(An Indirect Wholly Owned Subsidiary of Deutsche Bank AG)

Notes to Unaudited Financial Statements

September 30, 2009

 

Marketing fees are paid on behalf of the Funds by the Company.

 

(7) Commitments and Contingencies

The Company has entered into various service agreements on behalf of the Funds that contain a variety of representations, or provide indemnification provisions related to certain risks service providers undertake in performing services that are in the best interests of the Funds. While the Company’s exposure under such indemnification provisions cannot be estimated until a claim arises, these general business indemnifications are not expected to have a material impact on the Company’s financial position.

 

(8) Business and Credit Concentration

The Company’s business is to serve as the managing owner, commodity pool operator, and commodity trading advisor to the DB Exchange Traded Funds. The basis for the management fee calculation is the Funds’ net asset value. Accordingly, factors that may have the effect of causing a decline in the Funds’ net asset value will affect the Company’s income from management fees.

 

(9) Recently Issued Accounting Standards

In June 2009, the Financial Accounting Standards Board (FASB) issued FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R) (Statement No. 167). Statement No. 167 changes the approach to determining what constitutes a variable interest entity and which entity is a variable interest entity’s primary beneficiary for consolidation purposes. It also requires companies to more frequently reassess whether they must consolidate variable interest entities. The application of Statement No. 167 is required for fiscal years beginning after November 15, 2009 and interim periods within those fiscal years. Management is currently evaluating the potential impact of this Standard on the Company’s financial statements.

 

(10) Subsequent Events

The Company evaluated the need for disclosures and/or adjustments resulting from subsequent events through November 10, 2009, the date the financial statements were available to be issued. This evaluation did not result in any subsequent events that necessitated disclosures and/or adjustments, other than the event described below.

Effective October 31, 2009, the Commodity Futures Trading Commission (CFTC), withdrew no-action relief with respect to certain positions in CBOT corn and CBOT wheat futures contracts, previously granted to the Company by the CFTC. As a result, the DBC Master Fund’s positions in CBOT corn and CBOT wheat contracts will be aggregated for federal speculative position limits purposes with the positions in CBOT corn and CBOT wheat contracts held by DBA Master Fund. The Company has determined that DBC Master Fund will replace the current index, Deutsche Bank Liquid Commodity Index–Optimum Yield Excess Return™ with Deutsche Bank Liquid Commodity Index–Optimum Yield Diversified Excess Return™ effective October 19, 2009; additionally DBA Master Fund will replace the Deutsche Bank Liquid Commodity Index–Optimum Yield Agriculture Excess Return™ with the Deutsche Bank Liquid Commodity Index Diversified Agriculture Excess Return™ effective October 19, 2009.

 

12

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