2011 Report.pdf - Fortress Fund Managers

Fortress Caribbean High Interest Fund Limited
Statement of Financial Position
As of September 30, 2011
(expressed in Barbados dollars)
2011
$
2010
$
Assets
Investments (note 5) 60,316,784 84,277,701
Due from brokers 633,787 –
Accounts receivable 58,788 47,376
Cash and cash equivalents (note 7) 49,839,457 15,046,674
Total assets 110,848,816 99,371,751
Liabilities
Accounts payable and accrued expenses 84,716 57,421
Derivative financial instruments (note 6) 2,240 –
Liabilities (excluding net assets attributable to holders of
redeemable mutual fund shares) 86,956 57,421
Net assets attributable to holders of redeemable mutual
fund shares:
Accumulation shares (note 9) 104,592,398 93,600,761
Distribution shares (note 9) 6,168,462 5,712,569
110,760,860 99,313,330
Total liabilities 110,847,816 99,370,751
Share capital (note 10) 1,000 1,000
Liabilities and shareholder funds 110,848,816 99,371,751
Net asset value per accumulation share 1.69 1.65
Net asset value per distribution share 1.00 1.03
The accompanying notes form an integral part of these financial statements.
Approved by the Board of Directors on December 16, 2011
__________________________________ Director
___________________________________ Director