BEUTEL GOODMAN MANAGED FUNDS

Beutel Goodman ■ Balanced 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 80,761,632 70,583,760 33,574,858
Financial assets at fair value through
profit or loss* 3,404,164,057 3,200,910,242 2,343,127,804
Accrued interest 6,676,110 6,676,328 5,709,854
Dividends receivable 3,710,578 3,880,574 3,435,384
Due from brokers 898,867 328,359 6,456,559
Subscriptions receivable 648,660 3,025,798 1,238,203
Total assets 3,496,859,904 3,285,405,061 2,393,542,662
Liabilities
Current liabilities
Management and administrative
fees payable 350,598 259,765 167,802
Due to brokers 6,844,725 806,311 4,932,880
Redemptions payable 2,560,412 1,540,972 1,341,597
Total liabilities (before net assets
attributable to holders
of redeemable units) 9,755,735 2,607,048 6,442,279
Net assets attributable to holders of
redeemable units 3,487,104,169 3,282,798,013 2,387,100,383
*Investments at average cost 2,911,986,002 2,751,062,283 2,169,600,247
Net assets attributable to holders of
redeemable units per class
Class B 14,244,280 6,146,700 560,152
Class D 112,436,103 65,963,238 35,941,419
Class F 4,334,257 1,637,985 472,465
Class I 3,356,089,529 3,209,050,090 2,350,126,347
Net assets attributable to holders of
redeemable units per unit
Class B 11.66 11.39 10.32
Class D 19.38 18.89 16.97
Class F 11.83 11.54 10.39
Class I 20.21 19.69 17.71
Number of outstanding redeemable
units (Note 6)
Class B 1,221,901 539,587 54,289
Class D 5,801,080 3,491,597 2,117,698
Class F 366,446 141,906 45,488
Class I 166,077,309 162,920,783 132,717,339
Statements of Comprehensive Income
For the years ended December 31
Income
Net gains (losses) on investments
2014 2013
$ $
Dividends 69,133,001 52,912,349
Interest for distribution purposes 36,831,926 32,027,791
Realized gain (loss) on sale of investments 168,540,162 110,823,580
Change in unrealized appreciation (depreciation)
in the value of investments 42,330,096 276,320,402
Net gains (losses) on investments 316,835,185 472,084,122
Other income
Realized gain (loss) on foreign currency transactions (2,339,555) (1,861,634)
Total income 314,495,630 470,222,488
Expenses
Management fees 1,194,770 497,488
Administrative fees 2,328,330 1,898,337
Transaction costs (Note 9) 2,843,406 2,442,342
Withholding taxes 4,896,525 3,625,362
Total expenses 11,263,031 8,463,529
Increase (decrease) in net assets attributable to
holders of redeemable units 303,232,599 461,758,959
Increase (decrease) in net assets attributable to
holders of redeemable units per class
Class B 696,699 430,151
Class D 6,738,093 7,261,451
Class F 219,454 134,460
Class I 295,578,353 453,932,897
Increase (decrease) in net assets attributable to
holders of redeemable units per unit*
Class B 0.73 1.75
Class D 1.41 2.87
Class F 0.79 2.04
Class I 1.81 3.06
*Based on the weighted average number of redeemable units outstanding during the year.
The accompanying notes are an integral part of these financial statements.
4 Beutel Goodman Managed Funds Annual Report as at December 31, 2014