Annual Report - SEI
Annual Report - SEI
Annual Report - SEI
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Global Growth 100 Fund<br />
Notes to Statement of Investment Portfolio<br />
AS AT DECEMBER 31, 2009 AND 2008<br />
Currency Risk<br />
As at December 31, 2009 and 2008, the Fund’s direct exposure to currency risk is minimal given that the Underlying Funds held are valued in Canadian dollars which is the functional currency of the Fund.<br />
The Fund may be exposed to indirect currency risk in the event that the Underlying Funds invest in financial instruments that are denominated in a currency other than Canadian dollars.<br />
Interest Rate Risk<br />
As at December 31, 2009 and 2008, the interest rate risk is minimal given that the majority of the financial instruments held by the Fund are non-interest bearing. To the extent the Underlying Funds invest<br />
in interest bearing financial instruments, the Fund will be exposed to the indirect risk that the value of those instruments will fluctuate due to changes in the prevailing levels of market interest rates.<br />
Other Price Risk<br />
As at December 31, 2009, a 5% (2008 – 5%) change in prices of the Underlying Funds would have increased or decreased the Fund’s Net Assets by $1,051,524 (2008 – $1,983,032).<br />
In practice, the actual results may differ from this sensitivity analysis and the difference could be material.<br />
Credit Risk<br />
As at December 31, 2009 and 2008, the credit risk is minimal given that the Fund had no direct investments in debt instruments or derivatives. The Fund may be exposed to indirect credit risk in the event<br />
that the Underlying Funds invest in debt instruments and derivatives.<br />
Fair Value Measurements<br />
The following table summarizes the inputs used as of December 31, 2009 in valuing the Fund’s investments and derivatives carried at fair values:<br />
Quoted prices in active markets Significant other observable inputs Significant unobservable inputs<br />
for identical assets (Level 1) (Level 2) (Level 3) Total<br />
Common shares $ — $ — $ — $ —<br />
Preferred shares — — — —<br />
Short-term notes — — — —<br />
Bonds — — — —<br />
Investments in funds 21,030,485 — — 21,030,485<br />
Total Investments $ 21,030,485 $ — $ — $ 21,030,485<br />
Derivative assets — — — —<br />
Derivative liabilities — — — —<br />
During the year ended December 31, 2009, no equity investments were transferred between Level 1 and Level 2.<br />
During the year ended December 31, 2009, the Fund did not hold any investments classified within Level 3.<br />
(See accompanying notes)<br />
SGEF<br />
180
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