Annual Report - SEI
Annual Report - SEI
Annual Report - SEI
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Emerging Markets Equity Fund<br />
Statements of Net Assets<br />
AS AT DECEMBER 31<br />
(in thousands of dollars except per unit data)<br />
2009 2008<br />
ASSETS<br />
Investments at fair value $ 173,200 $ 106,439<br />
Cash including foreign currency holdings,<br />
at fair value 4,224 9,132<br />
Accrued dividends receivable 130 245<br />
Accrued interest receivable — —<br />
Receivable for portfolio securities sold 350 7<br />
Receivable for unit subscriptions 409 145<br />
178,313 115,968<br />
LIABILITIES<br />
Accrued liabilities 38 98<br />
Payable for portfolio securities purchased 413 83<br />
Payable for unit redemptions 211 176<br />
662 357<br />
NET ASSETS REPRESENTING<br />
UNITHOLDERS’ EQUITY $ 177,651 $ 115,611<br />
NET ASSETS PER CLASS<br />
(Class O) $ 167,423 $ 105,738<br />
(Class I) $ 19 $ 3,843<br />
(Class P) $ 7,018 $ 4,382<br />
(Class F) $ 3,191 $ 1,648<br />
NET ASSETS PER UNIT (note 7)<br />
(Class O) $ 5.10 $ 3.44<br />
(Class I) $ 5.20 $ 3.49<br />
(Class P) $ 5.61 $ 3.81<br />
(Class F) $ 5.99 $ 4.05<br />
INVESTMENTS AT AVERAGE COST $ 141,534 $ 144,027<br />
Statements of Operations<br />
FOR THE YEARS ENDED DECEMBER 31<br />
(in thousands of dollars except per unit data)<br />
2009 2008<br />
INVESTMENT INCOME<br />
Dividends $ 4,468 $ 4,863<br />
Interest 16 32<br />
4,484 4,895<br />
Foreign withholding taxes (423) (449)<br />
4,061 4,446<br />
EXPENSES<br />
Custodian and administration fees 198 203<br />
Legal fees 83 57<br />
Audit fees 6 6<br />
Management fees 219 223<br />
Trustee fees 3 3<br />
Independent Review Committee fees 2 2<br />
Security holder reporting costs 15 17<br />
526 511<br />
NET INVESTMENT INCOME (LOSS)<br />
FOR THE PERIOD $ 3,535 $ 3,935<br />
NET GAIN (LOSS) ON SALES OF SECURITIES $ (4,290) $ (14,404)<br />
NET GAIN (LOSS) ON FOREIGN EXCHANGE $ (1,121) $ 687<br />
TRANSACTION COSTS $ (560) $ (479)<br />
UNREALIZED APPRECIATION (DEPRECIATION)<br />
OF INVESTMENTS $ 69,254 $ (64,885)<br />
NET GAIN (LOSS) ON INVESTMENTS $ 63,283 $ (79,081)<br />
NET INCREASE (DECREASE) IN NET ASSETS<br />
FROM OPERATIONS $ 66,818 $ (75,146)<br />
INCREASE (DECREASE) IN NET ASSETS<br />
FROM OPERATIONS<br />
(Class O) $ 62,499 $ (68,042)<br />
(Class I) $ 814 $ (3,353)<br />
(Class P) $ 2,484 $ (2,547)<br />
(Class F) $ 1,021 $ (1,204)<br />
INCREASE (DECREASE) IN NET ASSETS<br />
FROM OPERATIONS PER UNIT*<br />
(Class O) $ 1.81 $ (2.53)<br />
(Class I) $ 1.50 $ (2.58)<br />
(Class P) $ 1.87 $ (2.88)<br />
(Class F) $ 2.03 $ (3.14)<br />
* Based on the weighted average number of units outstanding during the period.<br />
SEME<br />
(See accompanying notes)<br />
68
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