COIF Charity Funds - CCLA

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<strong>COIF</strong> Charities Investment Fund Notes to the Accounts At 31 December 2006, the Fund’s foreign currency exposure was predominantly from the overseas equities it was invested in, which are detailed in the portfolio statement. The total exposure at 31 December was: Currency 31.12.2006 31.12.2005 £’000 £’000 Australian Dollar 10,069 10,900 Danish Krone 351 698 Euro 80,961 76,667 Hong Kong Dollar 8,814 6,059 Japanese Yen 33,017 31,516 Malaysian Dollar 166 1,025 New Zealand Dollar 25 331 Norwegian Krone 2 2 Singapore Dollar 2,479 2,277 South Korean Won 6,728 8,393 Swedish Krona 3,710 3,161 Swiss Franc 9,010 9,177 Taiwan Dollar 5,345 6,210 Thailand Baht 180 750 US Dollar 71,648 60,909 232,505 218,075 Credit risk The Fund’s transactions in securities expose it to the risk that the counterparty will not deliver the investment for a purchase or the cash for a sale. To minimise this, the Fund only deals with an approved list of brokers maintained by the Manager. Liquidity risk Financial instruments held by the Fund, excluding short-term debtors and creditors, are made up of UK and overseas equities, fixed interest stocks, unit trusts and Sterling and overseas cash deposits. These assets are generally liquid, except for the unit trusts which are realisable only on their weekly or monthly dealing dates and the holdings in the unquoted investments which are not readily realisable, and enable the Fund to meet the payment of any redemption of units that unitholders may wish to make. Interest rate risk The majority of the Fund’s financial assets are equities which do not receive interest nor have maturity dates. The Fund also invests in fixed interest securities, the income of which may be affected by changes to interest rates relevant to particular securities or as a result of the Manager being unable to secure similar returns on the disposal or redemption of securities. The value of fixed interest securities may be affected by interest rate movements or the expectation of such movements in the future. 24
<strong>COIF</strong> Charities Investment Fund Notes to the Accounts The interest rate profile of the Fund’s financial assets and liabilities at 31 December 2006 was as set out below: 31 December 2006 Currency Floating rate financial assets* £’000 Fixed rate financial assets £’000 Financial assets not carrying interest £’000 Total £’000 Sterling Euro US Dollar Other 25,460 1,401 2,128 1,852 51,560 10,963 2,656 805 797,845 68,597 66,864 77,240 874,865 80,961 71,648 79,897 Currency Floating rate financial liabilities £’000 Fixed rate financial liabilities £’000 Financial liabilities not carrying interest £’000 Total £’000 Sterling Euro US Dollar Other - - - - - - - - 9,381 - - - 9,381 - - - 31 December 2005 Currency Floating rate financial assets* £’000 Fixed rate financial assets £’000 Financial assets not carrying interest £’000 Total £’000 Sterling Euro US Dollar Other 12,206 828 1,514 6,518 53,204 12,661 5,422 - 750,258 63,179 53,972 73,982 815,668 76,668 60,908 80,500 Currency Floating rate financial liabilities £’000 Fixed rate financial liabilities £’000 Financial liabilities not carrying interest £’000 Total £’000 Sterling Euro US Dollar Other - - - - - - - - 8,662 - - - 8,662 - - - * The floating rate financial assets of the Fund earn interest at rates based on either LIBOR or base rate. The fixed rate element of the portfolio is further analysed in the following table. 25
Page 1 and 2: COIF Charities Investment Fund COIF
Page 3 and 4: COIF Charity Funds Structure of the
Page 9 and 10: COIF Charities Investment Fund Repo
Page 11 and 12: COIF Charities Investment Fund Net
Page 13 and 14: COIF Charities Investment Fund Dist
Page 15 and 16: COIF Charities Investment Fund Port
Page 21 and 22: COIF Charities Investment Fund Bala
Page 23 and 24: COIF Charities Investment Fund Note
Page 25: COIF Charities Investment Fund Note
Page 29 and 30: COIF Charities Investment Fund Note
Page 31 and 32: COIF Charities Investment Fund Inco
Page 33 and 34: COIF Charities Fixed Interest Fund
Page 51 and 52: COIF Charities Deposit Fund Report
Page 53 and 54: COIF Charities Deposit Fund Report
Page 55 and 56: COIF Charities Deposit Fund Stateme
Page 57 and 58: COIF Charities Deposit Fund Notes t
Page 59 and 60: COIF Charities Deposit Fund Notes t
Page 61 and 62: ® CCLA INVESTMENT MANAGEMENT LIMIT

COIF Charity Funds - CCLA

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