JPMorgan Funds Audited Annual Report - JP Morgan Asset ...

JPMorgan Funds
Combined Statement of Operations and Changes in Net Assets
For the Period from 1 July 2013 to 31 December 2013
JPMorgan Funds
Combined
USD
America
Equity
Fund
USD
Asia
Local Currency
Debt Fund
USD
Asia
Pacific Income
Fund
USD
Net Assets at the Beginning of the Period * 70,581,126,965 763,368,811 46,989,118 4,549,560,393
Income
Dividend Income, Net 405,717,306 3,329,987 - 61,707,399
Interest Income, Net 505,556,015 4,657 752,062 36,622,163
Securities Lending Income 2,116,128 - - -
Bank Interest 408,732 132 149 11,424
Interest on Swap Transactions 2,252,147 - - -
Other Income 2,064,936 - - -
Total Income 918,115,264 3,334,776 752,211 98,340,986
Expenses
Management and Advisory Fees 449,374,824 6,783,362 115,577 33,721,215
Custodian, Corporate, Administration and Domiciliary Agency Fees 31,724,156 203,123 51,049 1,196,535
Registrar and Transfer Agency Fees 4,965,394 68,559 15,836 52,548
Taxe d’abonnement 15,950,799 233,873 7,627 952,496
Overdraft Interest 125,580 444 807 1,708
Interest on Swap Transactions 6,370,045 - - -
Sundry Fees** 20,205,032 221,084 47,867 3,724,128
528,715,830 7,510,445 238,763 39,648,630
Less: Fee Waiver *** 6,195,498 9,558 83,511 11,721
Total Expenses before Performance Fees 522,520,332 7,500,887 155,252 39,636,909
Performance Fees 17,273,845 - - -
Total Expenses 539,794,177 7,500,887 155,252 39,636,909
Net Investment Income/(Loss) 378,321,087 (4,166,111) 596,959 58,704,077
Net Realised Gain/(Loss) on Sale of Investments 1,137,729,336 43,146,517 (625,923) (61,106,435)
Net Realised Gain/(Loss) on Forward Foreign Exchange Contracts 211,705,995 2,037,547 (81,048) (5,743,242)
Net Realised Gain/(Loss) on Financial Futures Contracts 14,631,170 - - 199,375
Net Realised Gain/(Loss) on Foreign Exchange (17,077,539) (155,379) (64,127) (282,851)
Net Realised Gain/(Loss) on TBAs (2,654,797) - - -
Net Realised Gain/(Loss) on Derivatives Instruments 1,620,253 - - -
Net Realised Gain/(Loss) for the Period 1,345,954,418 45,028,685 (771,098) (66,933,153)
Net Change in Unrealised Gain/(Loss) on Investments 4,278,616,603 137,153,847 (524,254) 129,388,250
Net Change in Unrealised Gain/(Loss) on Forward Foreign Exchange Contracts 227,089,018 928,872 (71,914) 7,911,956
Net Change in Unrealised Gain/(Loss) on Financial Futures Contracts (971,794) - - 1,070,313
Net Change in Unrealised Gain/(Loss) on Foreign Exchange 3,971,036 (78) 13,837 (166,884)
Net Change in Unrealised Gain/(Loss) on TBAs 20,772 - - -
Net Change in Unrealised Gain/(Loss) on Derivatives Instruments 11,229,505 - - -
Net Change in Unrealised Gain/(Loss) for the Period 4,519,955,140 138,082,641 (582,331) 138,203,635
Increase/(Decrease) in Net Assets as a Result of Operations 6,244,230,645 178,945,215 (756,470) 129,974,559
Movements in Share Capital
Subscriptions 33,514,858,247 619,112,756 1,646,245 441,041,881
Redemptions (28,321,937,258) (381,324,264) (10,754,615) (1,419,217,204)
Increase/(Decrease) in Net Assets as a Result of Movements in Share Capital 5,192,920,989 237,788,492 (9,108,370) (978,175,323)
Dividend Distribution (437,867,330) (49,882) (48,551) (112,001,465)
Net Assets at the End of the Period 81,580,411,269 1,180,052,636 37,075,727 3,589,358,164
* The opening balance was combined using the foreign exchange rates as at 31 December 2013. The same net assets when combined using the foreign exchange rate ruling as at 30 June 2013 reflected a
figure of USD 69,768,444,706.
** Sundry Fees are principally comprised of Directors’ fees, audit and tax related fees and expenses, registration, publication, mailing, printing, legal and marketing expenses.
*** Please refer to Note 7a).
The accompanying notes form an integral part of these Financial Statements.
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