ABN AMRO Funds - Aia.com.hk

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CHANGES IN ISSUED SHARES (continued) Statement of Changes in Shares Outstanding for the year ended April 30, 2008 Number Number Number Number of shares of shares of shares of shares outstanding issued redeemed outstanding as at as at 01-05-2007 30-04-2008 Interest Growth Fund (Euro) ‘A’ - EUR 18,942,776 5,400,306 21,806,353 2,536,729 Interest Growth Fund (Euro) ‘D’ - EUR 18,776,584 11,538,586 27,107,153 3,208,017 Interest Growth Fund (Euro) ‘I’ - EUR 42,255 20,269 55,171 7,353 Interest Growth Fund (USD) ‘A’ - USD 1,766,249 1,124,975 1,636,936 1,254,288 Interest Growth Fund (USD) ‘B’ - USD 40 2 20 22 Interest Growth Fund (USD) ‘D’ - USD 10,873 166,779 109,599 68,053 Interest Growth Fund (USD) ‘I’ - USD 7,029 3 7,029 3 Lifecycle Fund 2015 ‘A’ - EUR 193,413 110,448 39,151 264,710 Lifecycle Fund 2018 ‘A’ - EUR 80,052 83,935 9,922 154,065 Lifecycle Fund 2020 ‘A’ - EUR 69,994 94,453 26,527 137,920 Lifecycle Fund 2022 ‘A’ - EUR 88,426 97,384 12,036 173,774 Lifecycle Fund 2025 ‘A’ - EUR 83,155 111,550 12,866 181,839 Lifecycle Fund 2028 ‘A’ - EUR 70,326 65,667 7,725 128,268 Lifecycle Fund 2030 ‘A’ - EUR 45,549 60,287 5,107 100,729 Lifecycle Fund 2032 ‘A’ - EUR 36,106 75,739 5,321 106,524 Lifecycle Fund 2035 ‘A’ - EUR 41,015 48,923 4,549 85,389 Lifecycle Fund 2038 ‘A’ - EUR 15,463 24,655 1,986 38,132 Lifecycle Fund 2040 ‘A’ - EUR 15,255 28,736 3,085 40,906 Model Fund 1 ‘A’ - EUR 689,941 122,444 294,208 518,177 Model Fund 2 ‘A’ - EUR 1,802,006 128,091 523,009 1,407,088 Model Fund 3 ‘A’ - EUR 5,325,297 929,851 1,051,231 5,203,917 Model Fund 4 ‘A’ - EUR 5,478,648 979,889 976,406 5,482,131 Model Fund 5 ‘A’ - EUR 1,923,263 481,462 524,297 1,880,428 Model Fund 6 ‘A’ - EUR 745,844 161,365 220,434 686,775 Currency Fund (EUR) ‘A’ - EUR 901,492 292,550 419,307 774,735 Currency Fund (EUR) ‘I’ - EUR 663,794 3,017,835 1,547,541 2,134,088 Currency Fund (GBP) ’IH’ - GBP 4 5 4 5 Currency Fund (USD) ’AH’ - USD 196,224 162,917 159,832 199,309 Currency Fund (USD) ’IH’ - USD 7 370 267 110 Global TAA Fund ‘A’ - EUR * launched October 19, 2007 - 4,232 20 4,212 Global TAA Fund ‘I’ - EUR * launched October 19, 2007 - 3,340,366 1,547,364 1,793,002 Global TAA Fund ’IH’ GBP * launched October 19, 2007 - 4,905 5 4,900 Global TAA Fund ’AH’ USD * launched October 19, 2007 - 1,000 - 1,000 Global TAA Fund ’IH’ USD * launched October 19, 2007 - 5 - 5 The accompanying notes to the financial statements form an integral part of these financial statements. 182
NOTES TO THE FINANCIAL STATEMENTS 1. Purpose of the SICAV ABN AMRO Funds (‘‘the SICAV’’) is an open-ended investment company incorporated on March 23, 1994 under the laws of the Grand Duchy of Luxembourg as a Société Anonyme, which qualifies as a Société d’Investissement à Capital Variable (SICAV). The SICAV is an ‘‘umbrella structure’’ under which its capital is divided into different investment portfolios of securities and other assets permitted by law with specific investment objectives and various risk characteristics (hereinafter referred to as the ‘‘Funds’’ and each a ‘‘Fund’’). There is no cross-liability between Funds. Each Fund is exclusively responsible for those liabilities attributable to it; the claim of any third party against a Fund can only be made against the assets of that Fund. The exclusive purpose of the SICAV is to manage its capital for the benefit of the Shareholders. For this purpose the SICAV invests the funds available to it in transferable securities, money market instruments and other assets permitted by law with the aim of spreading investment risks and affording its shareholders with the results of the management of its assets. The SICAV was originally authorised under part I of the Luxembourg law of March 30, 1988. In keeping with a decision of the general meeting of Shareholders on August 12, 2005, the SICAV is now authorised under part I of the Law of December 20, 2002 (‘‘the Law’’). The SICAV may take any measures and carry out any transaction which it may deem useful for the fulfillment and development of its purpose to the largest extent permitted under the Law on undertakings for collective investment. Each Fund can issue multiple Classes of Shares. Each Class represents an interest in the Fund’s portfolio, but may have its own characteristics, such as fee structure, investment minimum, dividend policy or reference currency. The types of Share Classes currently in existence are : Class A: Capital Growth Shares; Class B: Dividend Shares; Class D: Capital Growth Shares/Distribution Shares; Class I: Capital Growth Shares/Institutional Shares; Class J: Capital Growth Shares; AH, BH, DH, IH and JH Shares (‘‘Hedged Share Classes’’) may also be created. These Shares will have a substantial part of the assets of the SICAV attributable to that Share Class denominated in or hedged into the currency of that Share Class. The Hedged Share classes will be issued in a currency different from the reference currency of the Fund considered. During the year ended April 30, 2008, the following Funds were merged: Fund Merged into Ratio Date AAF High Yield Bond Fund (USD) AAF Preferred Securities Fund AAF 2001 Interest Growth Fund Euro AAF Biotech Fund AAF Global Emerging Markets Bond Fund (Euro) AAF High Yield Bond Fund (Euro) 1 June 1, 2007 AAF Absolute Return Bond Fund A B : : 1.006195333 June 1, 2007 1.986618507 D : 0.829957119 A1 : 1.006232817 B1 : 0.986579613 D1 : 0.829926786 AAF 2001 Euro 1.004720543 August 3, 2007 Bond Fund AAF Health Care Fund AAF Global Emerging Markets Bond Fund (USD) A : 0.578380047 A3 : 0.578493643 D : 0.747535593 August 3, 2007 1 February 21, 2008 During the year ended April 30, 2008, the following Funds were liquidated: Fund Date AAF Sustainable Global Credit Fund May 25, 2007 AAF Denmark Bond Fund May 25, 2007 AAF Global Leader Fund May 25, 2007 AAF Europe Property Equity Fund April 21, 2008 During the year ended April 30, 2008, the following Funds contributed their assets to the SICAV: 183 Contributor ABN Transpacific Fund SICAV AAAI Global TAA Fund ABN AMRO Rainbow Fund – EMU Government Bond - Passive Date ofcontribution September 27, 2007 October 19, 2007 December 14, 2007 Assetscontributed Name of receiving Fund EUR 24,271,044 AAF Japan Opportunities Fund EUR 118,663,158 AAF Global TAA Fund EUR 89,026,871 AAF EMU Government Bond – Passive Fund During the year ended April 30, 2008, the following Funds were launched: Fund Date AAF ARBF V150 September 21, 2007 AAF Japan Opportunities Fund September 28, 2007 AAF Europe Property Equity Fund October 12, 2007 AAF Clean Tech Fund October 12, 2007 AAF Global TAA Fund October 19, 2007 AAF EMU Government Bond – Passive December 14, 2007 Fund During the year ended April 30, 2008, the following Fund names were changed: Fund New Name Date AAF High Yield Bond Fund AAF High Yield Bond Fund June 1, 2007 (Euro) AAF Absolute Return Bond AAF ARBF V300 September 21, 2007 Fund AAF Global Emerging Markets Bond Fund (USD) AAF Global Emerging Markets Bond Fund February 21, 2008 2. Summary of Significant Accounting policies The financial statements are prepared and presented in accordance with generally accepted accounting principles applicable to investment funds in Luxembourg. a. Principles of valuation For each Share Class of each Fund, the Net Asset Value (NAV) per Share is expressed in the applicable reference currency of the relevant Fund or Share Class as defined in the Prospectus. The NAV per Share is determined as of each Valuation Day. For any given Fund and Share Class, the NAV per Share is calculated by taking the portion of SICAV assets attributable to that Fund and Share Class (as valued according to the valuation policies below), subtracting the portion of SICAV liabilities attributable to that Fund and Share Class, and dividing the result by the total number of Shares outstanding in that Fund and Share Class then outstanding. NAV per Share may be rounded up or down to the nearest unit of the relevant reference currency, as determined by the Board of Directors. In certain prevailing market conditions, taking into account the level of buying and selling in a relevant Fund and the size of the Fund, the Board of Directors may consider it in the best interest of Shareholders to calculate the NAV per share of such Fund using securities bid or offer prices and/or by applying an estimate of the bid or offer spread applicable to the markets in which the Fund’s securities are traded. It may further adjust such NAV for any dealing charges and sales commissions incurred, provided always that such dealing charges and sales commissions shall not exceed 1% of the net asset value of the Fund at such time. The value of the assets shall be determined as follows: 1) The value of any cash on hand or on deposit is recorded at book value; 2) The value of transferable securities and money market instruments and any other assets listed or dealt in on any regulated market and/or any other regulated market is based on the last available price on the relevant markets, on which such investments are traded, of each Valuation Date. Depending on the market in question, the relevant closing price used, will either be the business day in that market preceding the relevant Valuation Date or on the same business day as the Valuation Date;
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ABN AMRO Funds Annual Report 2007/2
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INFORMATION The prospectus of ABN A
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STATISTICS Net asset value per shar
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STATEMENT OF THE BOARD OF DIRECTORS
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Statement of investments - Asia Pac
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Statement of investments - Brazil E
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Statement of investments - Clean Te
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Statement of investments - Denmark
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Statement of investments - Eastern
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Statement of investments - Europe E
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Statement of investments - Financia
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Statement of investments - German E
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Statement of investments - Global E
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Statement of investments - Global P
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Statement of investments - Telecomm
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Statement of investments - US Oppor
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Statement of investments - Utilitie
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Statement of investments - 2001 Eur
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Statement of investments - ARBF V30
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Statement of investments - Euro Bon
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Statement of investments - Europe B
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Statement of investments - Global B
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Statement of investments - Global B
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Statement of investments - High Yie
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Statement of investments - High Yie
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Statement of investments - US Bond
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Statement of investments - Statemen
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Page 134 and 135: Statement of investments - Lifecycl
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Page 168 and 169: Statement of Net Assets as at April
Page 180 and 181: Statement of operations and changes
Page 182 and 183: CHANGES IN ISSUED SHARES (continued
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Page 192 and 193: . Futures Number of contracts Descr
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Page 210 and 211: Portfolio Turnover Ratio (unaudited
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