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

Sparinvest SICAV
SPARINVEST - PROCEDO
Statement of Changes in Net Assets for the Year ended December 31, 2009
Note
NET ASSETS AT THE BEGINNING OF THE YEAR 107,739,082.11
INCOME
Dividends, net 1,856,508.30
Interest on bonds, net 2,286,617.64
Bank interest 8,984.40
(11) Securities lending fees
16,657.14
Other income 1,934.40
TOTAL INCOME 4,170,701.88
EXPENSES
(4) Management and advisory fees
1,472,683.58
(6) Custodian fees
19,721.27
(6) Domiciliation, administration and transfer agent fees
421,884.90
Audit, printing and publication expenses 17,919.22
(3) Taxe d'abonnement
60,312.19
Bank charges 43,888.46
Interest paid 667.99
Other charges 10,078.08
TOTAL EXPENSES 2,047,155.69
NET INCOME / (LOSS) FROM INVESTMENTS 2,123,546.19
Net realised gain / (loss) on sales of investments -11,556,841.00
Net realised gain / (loss) on forward foreign exchange contracts 404,970.17
Net realised gain / (loss) on foreign exchange -34,679.81
NET REALISED PROFIT / (LOSS) -9,063,004.45
Change in net unrealised appreciation / (depreciation) on investments
Change in net unrealised appreciation / (depreciation) on forward foreign
32,981,544.58
exchange contracts -544,637.17
NET INCREASE / (DECREASE) IN NET ASSETS AS A RESULT OF OPERATIONS 23,373,902.96
EVOLUTION OF THE CAPITAL
Subscriptions of shares 5,925,745.07
Redemptions of shares -2,752,751.10
NET ASSETS AT THE END OF THE YEAR 134,285,979.04
The accompanying notes form an integral part of these financial statements.
EUR
97