BEUTEL GOODMAN MANAGED FUNDS

Beutel Goodman ■ Long Term Bond 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 4,397,581 5,629,802 811,590
Financial assets at fair value through
profit or loss* 681,204,173 480,444,062 304,644,246
Accrued interest 5,246,071 3,580,021 2,142,851
Due from brokers 812 689 —
Subscriptions receivable 125,954 4 258,962
Total assets 690,974,591 489,654,578 307,857,649
Liabilities
Current liabilities
Management and administrative
fees payable 35,762 27,618 45,953
Redemptions payable 914,506 250,026 226,962
Total liabilities (before net assets
attributable to holders
of redeemable units) 950,268 277,644 272,915
Net assets attributable to holders of
redeemable units 690,024,323 489,376,934 307,584,734
*Investments at average cost 637,682,705 483,811,755 278,576,781
Net assets attributable to holders of
redeemable units per class
Class B 161,606 175,372 310,272
Class D 12,291,865 12,832,120 28,313,387
Class F 172,839 363,293 1,355,948
Class I 677,398,013 476,006,149 277,605,127
Net assets attributable to holders of
redeemable units per unit
Class B 10.35 9.44 10.37
Class D 6.00 5.47 6.01
Class F 10.43 9.50 10.43
Class I 6.10 5.57 6.13
Number of outstanding redeemable
units (Note 6)
Class B 15,619 18,579 29,930
Class D 2,048,909 2,344,879 4,707,514
Class F 16,578 38,240 130,048
Class I 110,997,402 85,486,298 45,304,114
Statements of Comprehensive Income
For the years ended December 31
Income
Net gains (losses) on investments
2014 2013
$ $
Interest for distribution purposes 23,270,316 14,544,847
Realized gain (loss) on sale of investments 8,915,820 (636,542)
Change in unrealized appreciation (depreciation)
in the value of investments 46,889,161 (29,435,158)
Net gains (losses) on investments 79,075,297 (15,526,853)
Other income
Realized gain (loss) on foreign currency transactions (251) —
Total income 79,075,046 (15,526,853)
Expenses
Management fees 84,140 133,773
Administrative fees 261,377 221,038
Total expenses 345,517 354,811
Increase (decrease) in net assets attributable to
holders of redeemable units 78,729,529 (15,881,664)
Increase (decrease) in net assets attributable to
holders of redeemable units per class
Class B 19,668 (21,326)
Class D 1,572,073 (1,274,927)
Class F 31,232 (63,370)
Class I 77,106,556 (14,522,041)
Increase (decrease) in net assets attributable to
holders of redeemable units per unit*
Class B 1.23 (0.76)
Class D 0.74 (0.38)
Class F 1.46 (0.81)
Class I 0.78 (0.25)
*Based on the weighted average number of redeemable units outstanding during the year.
The accompanying notes are an integral part of these financial statements.
72 Beutel Goodman Managed Funds Annual Report as at December 31, 2014