BBVA International Fund - Banque Privée Edmond de Rothschild ...

BBVA DURBANA INTERNATIONAL FUND
BBVA DURBANA LATAM FIXED INCOME
STATEMENT OF OPERATIONS AND CHANGES IN NET ASSETS
Period from January 1, 2010 to June 30, 2010
(in USD)
NET ASSETS AT THE BEGINNING OF THE PERIOD 7,208,512.50
INCOME
Income from investments:
- Dividends, net 30,971.87
- Bond interest, net (see notes) 267,392.17
298,364.04
EXPENSES
Bank interest, net 253.62
Fees:
- Global fee (see notes) 51,146.48
- Custodian and Administration fees 8,607.96
Other expenses:
- Annual tax 1,285.20
- Audit and legal fees 1,123.95
- Printing and publishing fees 223.07
- Administrative and other expenses 7,100.25
69,740.53
NET OPERATING RESULT 228,623.51
Net realised result on:
- Sales of investments and futures (see notes) (229,355.17)
- Foreign exchange (34,644.71)
NET REALISED RESULT (35,376.37)
Change in net unrealised appreciation/(depreciation)
on:
- Investments 314,546.79
NET INCREASE/(DECREASE) IN NET ASSETS AS A RESULT
OF OPERATIONS
279,170.42
MOVEMENTS IN CAPITAL
Subscriptions of shares 21,801.47
Redemptions of shares (948,997.01)
(927,195.54)
NET ASSETS AT THE END OF THE PERIOD 6,560,487.38
The notes are an integral part of these financial statements
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