Annual Report - SEI

Canadian Equity Fund
Statements of Net Assets
AS AT DECEMBER 31
(in thousands of dollars except per unit data)
2009 2008
ASSETS
Investments at fair value $ 2,413,614 $ 1,841,181
Cash including foreign currency holdings,
at fair value 15,762 27,282
Accrued dividends receivable 5,030 4,350
Receivable for portfolio securities sold 3,911 4,257
Margin receivable on futures — 2,118
Receivable for unit subscriptions 856 1,539
Unrealized appreciation on futures contracts 105 4,152
2,439,278 1,884,879
LIABILITIES
Accrued liabilities 436 1,117
Payable for portfolio securities purchased 7,835 24,168
Margin payable on futures 98 —
Payable for unit redemptions 4,912 6,884
13,281 32,169
NET ASSETS REPRESENTING
UNITHOLDERS’ EQUITY $ 2,425,997 $ 1,852,710
NET ASSETS PER CLASS
(Class O) $ 2,343,001 $ 1,762,811
(Class I) $ 417 $ 21,028
(Class P) $ 71,099 $ 61,615
(Class F) $ 11,480 $ 7,256
NET ASSETS PER UNIT (note 7)
(Class O) $ 20.15 $ 14.92
(Class I) $ 20.45 $ 14.96
(Class P) $ 21.07 $ 15.64
(Class F) $ 22.56 $ 16.73
INVESTMENTS AT AVERAGE COST $ 2,128,772 $ 2,295,893
Statements of Operations
FOR THE YEARS ENDED DECEMBER 31
(in thousands of dollars except per unit data)
2009 2008
INVESTMENT INCOME
Dividends $ 61,132 $ 52,253
Interest 775 4,785
61,907 57,038
Foreign withholding taxes (20) (26)
61,887 57,012
EXPENSES
Custodian and administration fees 1,672 2,529
Legal fees 74 107
Audit fees 70 96
Management fees 1,650 1,806
Trustee fees 17 30
Independent Review Committee fees 1 2
Security holder reporting costs 51 102
3,535 4,672
NET INVESTMENT INCOME (LOSS)
FOR THE PERIOD $ 58,352 $ 52,340
NET GAIN (LOSS) ON SALES OF SECURITIES $ (71,380) $ (49,351)
NET REALIZED GAIN (LOSS) ON FUTURES
AND FORWARDS $ (3,466) $ (17,339)
NET GAIN (LOSS) ON FOREIGN EXCHANGE $ (66) $ 34
TRANSACTION COSTS $ (3,788) $ (4,369)
UNREALIZED APPRECIATION (DEPRECIATION)
OF INVESTMENTS $ 739,608 $ (890,055)
UNREALIZED APPRECIATION (DEPRECIATION)
ON FUTURES AND FORWARD CONTRACTS $ (4,047) $ 3,859
NET GAIN (LOSS) ON INVESTMENTS $ 656,861 $ (957,221)
NET INCREASE (DECREASE) IN NET ASSETS
FROM OPERATIONS $ 715,213 $ (904,881)
INCREASE (DECREASE) IN NET ASSETS
FROM OPERATIONS
(Class O) $ 688,175 $ (859,769)
(Class I) $ 4,132 $ (11,821)
(Class P) $ 19,820 $ (30,173)
(Class F) $ 3,086 $ (3,118)
INCREASE (DECREASE) IN NET ASSETS
FROM OPERATIONS PER UNIT*
(Class O) $ 5.67 $ (8.46)
(Class I) $ 5.30 $ (8.59)
(Class P) $ 5.47 $ (9.74)
(Class F) $ 6.22 $ (9.75)
* Based on the weighted average number of units outstanding during the period.
(See accompanying notes)
SCEF
12