Fortis Funds (Nederland) N.V. - BNP Paribas Investment Partners
Fortis Funds (Nederland) N.V. - BNP Paribas Investment Partners
Fortis Funds (Nederland) N.V. - BNP Paribas Investment Partners
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<strong>Fortis</strong> <strong>Funds</strong> (<strong>Nederland</strong>) N.V. Condensed Interim Report 2009<br />
30 June 2009 UNAUDITED<br />
6. Commitments<br />
Capital commitments<br />
Capital expenditure contracted for at the balance sheet date, but not yet incurred does not exist.<br />
Service Level Agreements<br />
The Company is committed to payments under service level agreements with <strong>Fortis</strong> <strong>Investment</strong><br />
Management Netherlands N.V. <strong>Fortis</strong> <strong>Investment</strong> Management Netherlands N.V. is providing finance<br />
and management services to the Company.<br />
7. Related-party transactions<br />
The Company has related-party transactions with its direct shareholder; <strong>Fortis</strong> <strong>Investment</strong> NL Holding<br />
N.V. and other <strong>Fortis</strong> <strong>Investment</strong>s related entities.<br />
In 2008 the Company had related-party transactions with its direct shareholder; ABN AMRO Asset<br />
Management (Netherlands) B.V., other ABN AMRO Asset Management related entities and other<br />
related-parties i.e. ABN AMRO Bank N.V. including its branches, other (non - Asset Management)<br />
ABN AMRO entities, Consortium banks and its key management. The company restated the amount<br />
reported in 2008 under line item ‘Other related parties’ for an amount of EUR 25.389 thousand as a<br />
consequence of the change of ownership over <strong>Fortis</strong> <strong>Investment</strong>s.<br />
The following transactions were carried out with related parties:<br />
Distribution, sales and advisory costs, interest and re-invoicing<br />
Six months ended 30 June<br />
2009 2008<br />
Shareholder 9,124 23,783<br />
Other <strong>Fortis</strong> <strong>Investment</strong>s/ ABN AMRO Asset Management entities 6,851 8,642<br />
15,975 32,425<br />
End balances arising from related-parties transactions:<br />
Receivables from related-parties:<br />
30-Jun-09 31-Dec-08<br />
Other <strong>Fortis</strong> <strong>Investment</strong>s/ ABN AMRO Asset Management entities 1,134 3,372<br />
1,134 3,372<br />
Receivables from related-parties relate to prepayments to third party clients on behalf of other <strong>Fortis</strong><br />
<strong>Investment</strong> entities and accrued interest on bank accounts. These receivables are not secured and<br />
non-interest bearing. Prepayments on behalf of other <strong>Fortis</strong> <strong>Investment</strong>s entities normally settle within<br />
30 - 90 days. Interest receivable normally settles quarterly.<br />
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