(40-17F2)
05 Février 2013 - 3:42PM
Edgar (US Regulatory)
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of
The Advisors
Inner Circle Fund:
We have examined managements assertion, included in the accompanying Management Statement Regarding Compliance with
Certain Provisions of the Investment Company Act of 1940, that United Association S&P 500 Index Fund (the Fund) complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of
1940 (the Act) as of October 31, 2012. Management is responsible for the Funds compliance with those requirements. Our responsibility is to express an opinion on managements assertion about the Funds compliance
based on our examination.
Our examination was conducted in accordance with the standards of the Public Company Accounting Oversight Board
(United States) and, accordingly, included examining, on a test basis, evidence about the Funds compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. Included among our
procedures were the following tests performed as of October 31, 2012, and with respect to agreement of security purchases and sales, for the period from July 16, 2012 (the date of our last examination), through October 31, 2012:
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Confirmation of all security positions with PNC Bank (the Custodian) in Cleveland, Ohio;
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Confirmation of all securities held by the Depository Trust Company (DTC) in book entry form. This confirmation included, but was not
limited to, securities held by the Fund. For a sample of securities held in the aggregate by DTC, we agreed the omnibus position per the records of the Custodian to the confirmation of securities in the aggregate received from DTC;
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Confirmation of all open futures contracts with the executing broker;
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Reconciliation of all such securities to the books and records of the Fund and the Custodian;
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Agreement of 2 security purchases and 3 security sales or maturities since our last examination from the books and records of the Fund to broker
confirmations and cash statements received from PNC Bank.
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Confirmation or agreement to cash statements received from PNC Bank of all securities out for transfer with brokers.
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We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Funds
compliance with specified requirements.
In our opinion, managements assertion that United Association S&P 500 Index Fund was in
compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of October 31, 2012 with respect to securities reflected in the investment account of the Fund is fairly stated, in all
material respects.
This report is intended solely for the information and use of management and the Board of Trustees of United Association
S&P 500 Index Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania
January 28, 2013
Management Statement Regarding Compliance with Certain Provisions of the Investment
Company Act of 1940
We, as members of management of United Association S&P 500 Index Fund (the Fund), are responsible for
complying with the requirements of subsections (b) and (c) of Rule 17f-2, Custody of Investments by Registered Management Investment Companies, of the Investment Company Act of 1940. We are also responsible for establishing and maintaining
effective internal controls over compliance with those requirements. We have performed an evaluation of the Funds compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of October 31, 2012 and from
July 16, 2012 through October 31, 2012.
Based on this evaluation, we assert that the Fund was in compliance with the requirements
of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of October 31, 2012 and from July 16, 2012 through October 31, 2012, with respect to securities reflected in the investment account of the
Fund.
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By:
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Michael Beattie, President
The Advisors Inner Circle Fund
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Date
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By:
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Michael Lawson, Controller,
Chief Financial Officer and Treasurer
The Advisors Inner Circle
Fund
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Date
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By:
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John Kernan, Managing Director
PNC Capital Advisors
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Date
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Fund Name
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State
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Registration
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File Number
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The Advisors Inner Circle Fund
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United Association S & P 500 Index Fund
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ALASKA
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ANNUAL
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60044418
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ALABAMA
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ANNUAL
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CONNECTICUT
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ANNUAL
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1023481
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KANSAS
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ANNUAL
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2003S0000867
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KENTUCKY
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ANNUAL
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600110541
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LOUISIANA
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ANNUAL
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100843
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MISSOURI
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ANNUAL
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0002-13700
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NEW JERSEY
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ANNUAL
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BEM-2290
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NEVADA
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ANNUAL
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NEW YORK
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OTHER
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S30-34-25
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OHIO
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OTHER
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46876
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OREGON
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ANNUAL
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2003-452
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United Association S & P 500 Index Fund - Class I
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DISTRICT OF COLUMB
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ANNUAL
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60018399
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IOWA
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ANNUAL
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I-55228
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MASSACHUSETTS
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ANNUAL
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MARYLAND
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ANNUAL
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SM20030507
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MICHIGAN
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ANNUAL
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939758
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NEBRASKA
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ANNUAL
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62033
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OKLAHOMA
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ANNUAL
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SE-2103201
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TENNESSEE
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ANNUAL
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RM04-3558
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WASHINGTON
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GOOD UNTIL SOLD
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60036890
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WISCONSIN
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ANNUAL
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454553
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United Association S & P 500 Index Fund - Class II
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DISTRICT OF COLUMB
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ANNUAL
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60018540
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IOWA
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ANNUAL
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I-55326
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MASSACHUSETTS
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ANNUAL
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MARYLAND
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ANNUAL
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SM20030621
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MICHIGAN
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ANNUAL
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939759
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NEBRASKA
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ANNUAL
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59410
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OKLAHOMA
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ANNUAL
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SE-2116727
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TENNESSEE
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ANNUAL
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RM04-3558
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TEXAS
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GOOD UNTIL SOLD
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C 71399
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WASHINGTON
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GOOD UNTIL SOLD
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60038210
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WISCONSIN
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ANNUAL
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455368
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