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 - INVESTMENT GRADE VALUE BONDS<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 1,440,964.96<br />
INCOME<br />
Interest on bonds, net 455,786.93<br />
Bank interest 1,893.46<br />
Other income 10,729.22<br />
TOTAL INCOME 468,409.61<br />
EXPENSES<br />
(4) Management and advisory fees<br />
53,550.31<br />
(6) Custodian fees<br />
1,664.70<br />
(6) Domiciliation, administration and transfer agent fees<br />
9,658.54<br />
Audit, printing and publication expenses 1,000.61<br />
(3) Taxe d'abonnement<br />
2,532.99<br />
Bank charges 1,102.33<br />
Interest paid 1,251.76<br />
Other charges 845.53<br />
TOTAL EXPENSES 71,606.77<br />
NET INCOME / (LOSS) FROM INVESTMENTS 396,802.84<br />
Net realised gain / (loss) on sales of investments 1,139,832.74<br />
Net realised gain / (loss) on forward foreign exchange contracts -2,325.73<br />
Net realised gain / (loss) on foreign exchange 19,709.27<br />
NET REALISED PROFIT / (LOSS) 1,554,019.12<br />
Change in net unrealised appreciation / (depreciation) on investments 341,296.88<br />
NET INCREASE / (DECREASE) IN NET ASSETS AS A RESULT OF OPERATIONS 1,895,316.00<br />
EVOLUTION OF THE CAPITAL<br />
Subscriptions of shares 31,523,511.01<br />
Redemptions of shares -23,491,293.04<br />
(9) Dividends distributed<br />
-2,178.88<br />
NET ASSETS AT THE END OF THE YEAR 11,366,320.05<br />
The accompanying notes form an integral part of these financial statements.<br />
EUR<br />
83
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