FCP OP MEDICAL BioHe@lth-Trends - medical.lu

FCP OP MEDICAL BioHe@lth-Trends Audited Annual Report as of September 30, 2005
The key facts
Investment policy Shares in biotechnology, medical
technology, health industry and pharamacy
German Security-Code 941.135
ISIN-Code LU0119891520
Swiss Security-Code 1,148,391
Fund currency EUR
Date of inception 30.10.2000
Financial year 01.10. – 30.09.
Reporting period 01.10.2004 – 30.09.2005
First offering price (per unit)
(incl. offering premium)
126.00 EUR
First bid price per unit 120.00 EUR
Subscription fee 5.00%
Management fee p.a. 1.70%
plus performance bonus
Custodian fee p.a. 0.15%
Dividends none, as retained
Development of the net asset value (in EUR)
Highest net asset value per unit
in the reporting period
Lowest net asset value per unit
(13.09.2005) 119.29
in the reporting period (26.10.2004) 89.24
Performance in the period under review* 24.77 %
Performance since commencement*
Performance over the last 3 years
–1.58 %
100%
*) calculated according to Bundesverband and Asset Management e.V (BVI)
Historical performance is no indication of current or future
performance.
Performance data does not include the commissions and charges
made for the issue or redemption of units
12
80%
60%
40%
20%
0%
-20%
54.83%
0.85% 24.77%
01.10.02 – 30.09.03 01.10.03 – 30.09.04 01.10.04 – 30.09.05
Performance*) of the financial years in % (left scale)
Accumulated performance on month-end basis, indicated on
100 (right scale)
200
180
160
140
120
100
800
At-a-glance
30.09.2005
Total Fund assets (EUR millions) 148.46
Units in circulations (unit) 1,256,920
Bid price (EUR per unit) 118.11
Offering price (EUR per unit) 124.02
Evolution over the last 3 years
Values at financial year-end (in EUR)
Financial year NAV per Unit Total net assets
01.10.2001 – 30.09.2002 60.62 61,710,615.19
01.10.2002 – 30.09.2003 93.86 89,304,231.08
01.10.2003 – 30.09.2004 94.66 112,246,056.38
01.10.2004 – 30.09.2005 118.11 148,458,627.32
Evolution of the funds’ assets (in EUR)
for the period 01.10.2004 to 30.09.2005
Net assets at the beginning
of the financial year 112,246,056.38
Subscriptions 43,636,160.53
Redemptions –37,334,958.27
Capital inflow/outflow (net) 6,301,202.26
Ordinary net income –2,344,876.10
Realized gains/losses
on investments 10,254,460.35
on foreign currency exchange transactions –9,305.88
Change in net unrealized appreciation/depreciation
on investments 21,974,049.57
on foreign currency transactions 37,040.74
Net income/loss from operations 29,911,368.68
Total net assets at the end
of the financial year 148,458,627.32