UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-PX ANNUAL REPORT OF PROXY RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-21605 --------------------------------- TOPIARY MASTER FUND FOR BENEFIT PLAN INVESTORS (BPI) LLC -------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) 25 DEFOREST AVENUE SUMMIT, NEW JERSEY 07901 -------------------------------------------------------------------------------- (Address of principal executive offices) Copy to: Deutsche Asset Management Sidley Austin Brown & Wood LLP John H. Kim, Esq. John A MacKinnon, Esq. 345 Park Avenue, 16th Fl. 787 Seventh Avenue New York, NY 10154 New York, New York 10019 -------------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (908) 608-3000 -------------- Date of fiscal year end: March 31 ------------------- Date of reporting period: July 1, 2004 - June 30, 2005 ---------------------------------------- Item 1. Proxy Voting Record. ----------------------------------------------------------------------------------------------------------------------- Fund Meeting Date Matter Proposed By Voted How Voted With Management ----------------------------------------------------------------------------------------------------------------------- SR Global Fund 11/4/2004 o Receipt of the Issuer Yes For Yes Inc. reports and accounts for the fiscal year 2003 o Reappointment of auditors of the company o Authorize Directors to fix the remuneration of the auditors o Increase authorized share capital o Amendments to the memorandum and articles of association ----------------------------------------------------------------------------------------------------------------------- TSC Capital II 11/22/2004 o Lengthen the fund's Issuer Yes For Yes LP lockup to 1 year. ----------------------------------------------------------------------------------------------------------------------- SIGNATURES Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. TOPIARY MASTER FUND FOR BENEFIT PLAN INVESTORS (BPI) LLC By: /s/ Julian Sluyters -------------------------------------------- Julian Sluyters Chief Executive Officer August 23, 2005