Sparinvest SICAV Annual Report 2009 R.C.S. Luxembourg B 83.976
Sparinvest SICAV Annual Report 2009 R.C.S. Luxembourg B 83.976
Sparinvest SICAV Annual Report 2009 R.C.S. Luxembourg B 83.976
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<strong>Sparinvest</strong> <strong>SICAV</strong><br />
SPARINVEST - EUROPEAN VALUE<br />
Statement of Changes in Net Assets for the Year ended December 31, <strong>2009</strong><br />
Note<br />
NET ASSETS AT THE BEGINNING OF THE YEAR 30,133,002.12<br />
INCOME<br />
Dividends, net 859,105.99<br />
Bank interest 11,568.88<br />
Other income 7,114.36<br />
TOTAL INCOME 877,789.23<br />
EXPENSES<br />
(4) Management and advisory fees<br />
591,674.15<br />
(6) Custodian fees<br />
9,523.40<br />
(6) Domiciliation, administration and transfer agent fees<br />
195,502.69<br />
Audit, printing and publication expenses 4,841.91<br />
(3) Taxe d'abonnement<br />
18,271.14<br />
Bank charges 12,380.76<br />
Other charges 1,697.19<br />
TOTAL EXPENSES 833,891.24<br />
NET INCOME / (LOSS) FROM INVESTMENTS 43,897.99<br />
Net realised gain / (loss) on sales of investments -768,861.75<br />
Net realised gain / (loss) on foreign exchange -15,525.89<br />
NET REALISED PROFIT / (LOSS) -740,489.65<br />
Change in net unrealised appreciation / (depreciation) on investments 14,863,726.32<br />
NET INCREASE / (DECREASE) IN NET ASSETS AS A RESULT OF OPERATIONS 14,123,236.67<br />
EVOLUTION OF THE CAPITAL<br />
Subscriptions of shares 29,944,094.36<br />
Redemptions of shares -3,561,812.60<br />
(9) Dividends distributed<br />
-1,856.99<br />
NET ASSETS AT THE END OF THE YEAR 70,636,663.56<br />
The accompanying notes form an integral part of these financial statements.<br />
EUR<br />
49
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