FLEXIFUND - BNP Paribas Investment Partners

FLEXIFUND
Notes to the financial statements at 30/06/2012
d) Net realised result on the securities portfolio
The net realised result on investment securities is calculated on the basis of the average cost of the securities sold.
e) Conversion of foreign currencies
Values expressed in a currency other than the currency in which the relevant sub-fund is denominated will be converted
on the basis of the exchange rate applicable on the valuation day.
Exchange rate at 30 June 2012:
EUR 1 = USD 1.26905
EUR 1 = CNY 8.06365
f) Distribution of costs
The costs common to the various sub-funds, classes or sub-classes of the Company are distributed among the various
sub-funds, classes or sub-classes, pro rata to their respective net assets.
g) Valuation of currency futures
Unexpired currency futures are valued on the basis of the exchange rates applicable on the valuation date or the closing
date and the resulting unrealised profits or losses are recorded in the accounts.
h) Valuation of financial instruments
Unexpired financial instruments are valued on the basis of the last price known on the valuation date or closing date and
the resulting unrealised profits or losses are recorded in the accounts.
i) Valuation of options
The liquidation value of options traded on stock markets is based on the closing prices published by the stock markets
on which the Company traded the contracts in question. The liquidation value of options not traded on stock markets is
determined in accordance with the rules defined by the Board of Directors, in accordance with uniform criteria for each
category of contract.
j) Repurchase agreement
"Repurchase" and "reverse repurchase agreement" consist of the purchase and sale of securities where the clauses of the
agreement require the seller to repurchase from the buyer and the buyer to sell back to the seller the securities
sold/bought at a price and for a duration stipulated by the two parties at the time the agreement is entered into. Such
"repo" and "reverse repo" agreements imply a transfer of ownership.
k) Income on investments
Dividends are recognised as income on the date on which they are declared and to the extent that the information in
question is available to the Company. Interest is recognised on a daily basis.
l) Securities lending transactions
The Company may enter into securities lending transactions. The assets involved remain accounted for in the portfolio
throughout the duration of the loan.
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