Sparinvest SICAV Annual Report 2009 R.C.S. Luxembourg B 83.976

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4 Sparinvest SICAV Table of contents SPARINVEST - LONG DANISH BONDS 89 Statement of Net Assets 89 Statement of Changes in Net Assets 90 Changes in the Number of Shares 91 Statistics 92 Statement of Investments 93 Geographical and Economic Portfolio Breakdown 95 SPARINVEST - PROCEDO 96 Statement of Net Assets 96 Statement of Changes in Net Assets 97 Changes in the Number of Shares 98 Statistics 99 Statement of Investments 100 Geographical and Economic Portfolio Breakdown 124 SPARINVEST - SECURUS 127 Statement of Net Assets 127 Statement of Changes in Net Assets 128 Changes in the Number of Shares 129 Statistics 130 Statement of Investments 131 Geographical and Economic Portfolio Breakdown 155 Notes to the Financial Statements as at December 31, 2009 158
Sparinvest SICAV Management and Administration SICAV Registered Office 69, route d'Esch L-1470 Luxembourg Grand-Duchy of Luxembourg Management Company Sparinvest S.A. 28, Boulevard Royal L-2449 Luxembourg Grand-Duchy of Luxembourg Directors of the SICAV Chairman of the Board of Directors Mr Per Noesgaard Managing Director, CEO of Sparinvest Holding A/S Kingosvej 1 DK-2630 Taastrup Denmark Mr Jan Stig Rasmussen Managing Director, CEO of Sparinvest S.A. 28, Boulevard Royal L-2449 Luxembourg Grand-Duchy of Luxembourg Mr Michael Albrechtslund Managing Director of Sparinvest Fondsmaeglerselskab A/S Kingosvej 1 DK-2630 Taastrup Denmark Managers of the Management Company Mr Jan Stig Rasmussen Managing Director and CEO Mr Henrik Lind-Groenbaek Managing Director Auditor Ernst & Young S.A. Parc d’Activité Sydrall L-5365 Munsbach Grand-Duchy of Luxembourg Investment Advisor and Manager Sparinvest S.A. 28, Boulevard Royal L-2449 Luxembourg Grand-Duchy of Luxembourg Sparinvest Fondsmaeglerselskab A/S Kingosvej 1 DK-2630 Taastrup Denmark Nominee for Denmark Forstaedernes Bank A/S Kalvebod Brygge 47 DK-1560 København V Denmark Distributor Sparinvest S.A. 28, Boulevard Royal L-2449 Luxembourg Grand-Duchy of Luxembourg Depositary Bank / Paying Agent / Central Administration RBC Dexia Investor Services Bank S.A. 14, Porte de France L-4360 Esch-sur-Alzette Grand-Duchy of Luxembourg No subscription can be received solely on the basis of financial reports. Subscriptions are only valid if made on the basis of the current prospectus accompanied by the latest annual and the most recent semi-annual report if published thereafter. Only the english version of the present Annual Report has been reviewed by the auditors. Consequently, the auditor's report only refers to the English version of the report; other versions result from a conscientious translation made under the responsibility of the Board of the SICAV. In case of differences between the english version and the translation, the english version should be retained. 5
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Sparinvest SICAV SPARINVEST - GLOBA
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Sparinvest SICAV SPARINVEST - HIGH
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Sparinvest SICAV SPARINVEST - INVES
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Sparinvest SICAV SPARINVEST - LONG
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Sparinvest SICAV SPARINVEST - PROCE
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Sparinvest SICAV SPARINVEST - SECUR
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Sparinvest SICAV Notes to the Finan
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Sparinvest SICAV Annual Report 2009 R.C.S. Luxembourg B 83.976

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