Untitled - Fundsupermart.com

More documents

Recommendations

Info

MACQUARIE UNIT TRUST SERIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2013 9 Related party transactions/transactions with the Trustee, the Manager and their connected persons (continued) b) Performance fee (continued) The cumulative performance fee accruals from the beginning of a performance period will be included in the calculation of the net asset value per unit of the respective Sub-Funds. In the event of the net asset value per unit of the respective Sub-Funds being less than the Benchmark Value, the daily performance fee accrual will be negative and will reduce the cumulative performance fee accrual until the accrual reaches a minimum level of zero. No further daily performance fee accruals will be made until the net asset value per unit of the respective Sub-Funds exceeds the Benchmark Value. At the end of a performance period the positive balance of the performance fee accrual will become payable to the Manager and the performance fee accrual in the net asset value per unit of the respective Sub-Funds will be reset to zero. If any units are realised during a performance period, the cumulative performance fee accrued during such performance period in respect of those units shall be crystallised and become payable to the Manager. The performance fees charged during the year and the amount outstanding at the year end date are as follows: Performance fee expense Performance fee payable 2013 2012 2013 2012 US$ US$ US$ US$ MACQUARIE IPO CHINA CONCENTRATED CORE FUND - - - - MACQUARIE IPO CHINA GATEWAY FUND - - - - MACQUARIE ASIA NEW STARS FUND 6,250 2,004 6,151 2,004 c) Administration fee The Manager is entitled to receive an administration fee from each of the Sub-Funds of up to 1.0% per annum of the net asset value of the respective Sub-Funds, however, it is the intention of the Manager to charge a fee of 0.25% (2012: 0.25%) per annum of the net asset value of the respective Sub-Funds. Such fees are accrued daily and calculated as at each valuation day for the respective Sub-Funds and is payable quarterly in arrears. The administration fees charged during the year end and the amount outstanding at year end date are as follows: Administration fee expense Administration fee payable 2013 2012 2013 2012 US$ US$ US$ US$ MACQUARIE IPO CHINA CONCENTRATED CORE FUND 82,199 101,840 20,508 22,147 MACQUARIE IPO CHINA GATEWAY FUND 147,669 172,761 38,261 38,208 MACQUARIE ASIA NEW STARS FUND 59,311 64,185 15,635 14,391 d) Transaction handling fee The Trustee is entitled to receive a transaction handling fee for each purchase and sales transaction based on the stock exchanges where the equity securities are listed. The transaction handling fees charged during the year and the amount outstanding as at year end are as follows: Transaction handling fee expense Transaction handling fee payable 2013 2012 2013 2012 US$ US$ US$ US$ MACQUARIE IPO CHINA CONCENTRATED CORE FUND 11,525 23,850 800 1,200 MACQUARIE IPO CHINA GATEWAY FUND 11,725 24,250 900 1,250 MACQUARIE ASIA NEW STARS FUND 66,159 35,408 12,287 6,983 29
MACQUARIE UNIT TRUST SERIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2013 9 Related party transactions/transactions with the Trustee, the Manager and their connected persons (continued) e) Trustee fee and reimbursement by the Manager The Trustee is entitled to receive a trustee fee of 1% (2012: 1%) per annum of the net asset value of each of the Sub-Funds. The trustee fee is borne by the Manager. The Trustee is also entitled to reimbursement from the Manager for any transaction, processing and valuation fees, and such other applicable fees as may be agreed with the Manager. f) Bank balances Bank balances are maintained with HSBC Institutional Trust Services (Asia) Limited a related party of the Trustee. Bank balances held with HSBC as at year end date were: 2013 2012 US$ US$ MACQUARIE IPO CHINA CONCENTRATED CORE FUND 1,231,043 2,264,751 MACQUARIE IPO CHINA GATEWAY FUND 3,120,529 2,744,455 MACQUARIE ASIA NEW STARS FUND 3,519,641 2,588,793 g) Manager’s and its related parties’ holding in the Sub-Funds As at 30 June 2013 and 30 June 2012, the following key management personnel and parties related to the Manager held units in the Sub-Funds: 30 June 2013 Fund Units Held John Bugg Macquarie Asia New Stars Fund Class A1 6,099.22 John Bugg Macquarie Asia New Stars Fund Class A2 23,622.97 Axel Maier Macquarie Asia New Stars Fund Class A2 15,829.27 Macquarie Investment Management Limited as RE For MQNS Feeder Fund Macquarie Asia New Stars Fund Class I 2,099,496.23 30 June 2012 Fund Units Held Paul Li Macquarie IPO China Gateway Fund Class A2 503.575 John Bugg Macquarie Asia New Stars Fund Class A1 6,099.224 John Bugg Macquarie Asia New Stars Fund Class A2 13,218.553 Robert Hector John Spence Macquarie Asia New Stars Fund Class A2 2,907.864 Macquarie Investment Management Limited as RE For MQNS Feeder Fund Macquarie Asia New Stars Fund Class I 1,555,470.876 h) Transactions in equity securities of companies with a common director As at 30 June 2013, no equity securities that each of the Sub-Funds invested in has a common director with the Manager (2012: nil). i) Holdings in other Sub-Funds No Sub-Funds have a holding in another Sub-Fund (2012: nil). j) Bank borrowing Each of the Sub-Funds has entered into a secured short term bank borrowing with The Hong Kong and Shanghai Banking Corporation Limited (the “Bank”), a related party of the Trustee for the lesser of US$30,000,000 or an amount which is 25% of the net asset value held by the Bank, the Custodian (as defined below) or their affiliates. As at 30 June 2013 none of the Sub-Funds had utilised this facility (2012: nil). 30
Page 2 and 3: MACQUARIE UNIT TRUST SERIES UNAUDIT
Page 4 and 5: MACQUARIE UNIT TRUST SERIES MANAGEM
Page 6 and 7: MACQUARIE UNIT TRUST SERIES STATEME
Page 8 and 9: MACQUARIE UNIT TRUST SERIES FOR THE
Page 16: MACQUARIE UNIT TRUST SERIES FOR THE
Page 19 and 20: MACQUARIE UNIT TRUST SERIES TABLE O
Page 21: MACQUARIE UNIT TRUST SERIES STATEME
Page 24 and 25: Independent Auditors’ Report (con
Page 26: MACQUARIE UNIT TRUST SERIES STATEME
Page 33 and 34: MACQUARIE UNIT TRUST SERIES NOTES T
Page 47: MACQUARIE UNIT TRUST SERIES NOTES T
Page 53 and 54: MACQUARIE UNIT TRUST SERIES INVESTM

Untitled - Fundsupermart.com

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?