BEUTEL GOODMAN MANAGED FUNDS

Beutel Goodman ■ World Focus Equity Fund
Statements of Financial Position
As at December 31, 2014, December 31, 2013 and January 1, 2013
December 31, December 31, January 1,
2014 2013 2013
Assets
$ $ $
Current assets
Cash and cash equivalents 574,280 360,616 124,443
Financial assets at fair value through
profit or loss* 13,119,474 13,174,098 1,156,640
Accrued interest 262 331 70
Dividends receivable 15,247 12,554 458
Subscriptions receivable 57,810 48,794 1,796
Total assets 13,767,073 13,596,393 1,283,407
Liabilities
Current liabilities
Management and administrative
fees payable 6,054 5,043 2,325
Redemptions payable 19,264 25,356 —
Distributions payable 31,853 5,051 —
Total liabilities (before net assets
attributable to holders
of redeemable units) 57,171 35,450 2,325
Net assets attributable to holders of
redeemable units 13,709,902 13,560,943 1,281,082
*Investments at average cost 11,823,272 11,244,220 1,071,721
Net assets attributable to holders of
redeemable units per class
Class B 597,749 221,907 16,758
Class D 1,464,422 1,035,958 712,817
Class F 38,452 25,897 5,959
Class I 11,609,279 12,277,181 545,548
Net assets attributable to holders of
redeemable units per unit
Class B 12.73 13.56 11.05
Class D 4.93 5.20 4.20
Class F 13.27 14.02 11.31
Class I 5.24 5.54 4.45
Number of outstanding redeemable
units (Note 6)
Class B 46,951 16,365 1,516
Class D 297,340 199,344 169,917
Class F 2,898 1,847 527
Class I 2,217,133 2,217,733 122,563
Statements of Comprehensive Income
For the years ended December 31
Income
Net gains (losses) on investments
2014 2013
$ $
Dividends 440,195 400,584
Interest for distribution purposes 10,593 4,338
Realized gain (loss) on sale of investments 1,520,734 717,880
Change in unrealized appreciation (depreciation)
in the value of investments (633,676) 1,844,959
Net gains (losses) on investments 1,337,846 2,967,761
Other income
Realized gain (loss) on foreign currency transactions (28,249) (42,462)
Total income 1,309,597 2,925,299
Expenses
Management fees 20,723 5,886
Administrative fees 14,395 12,212
Transaction costs (Note 9) 19,831 37,292
Withholding taxes 62,331 63,534
Total expenses 117,280 118,924
Increase (decrease) in net assets attributable to
holders of redeemable units 1,192,317 2,806,375
Increase (decrease) in net assets attributable to
holders of redeemable units per class
Class B 21,566 25,722
Class D 98,290 213,199
Class F 3,065 4,938
Class I 1,069,396 2,562,516
Increase (decrease) in net assets attributable to
holders of redeemable units per unit*
Class B 0.77 3.33
Class D 0.37 1.32
Class F 1.09 3.54
Class I 0.53 1.32
*Based on the weighted average number of redeemable units outstanding during the year.
The accompanying notes are an integral part of these financial statements.
46 Beutel Goodman Managed Funds Annual Report as at December 31, 2014