Sparinvest SICAV Semi Annual Report 2010 R.C.S. Luxembourg B ...

Sparinvest SICAV
Consolidated Statement of Changes in Net Assets for the period ended June 30, 2010
Note
NET ASSETS AT THE BEGINNING OF THE PERIOD 1,556,971,002.84
INCOME
Dividends, net 13,923,563.25
Interest on bonds, net 23,047,993.07
Bank interest 79,326.20
(11) Securities lending fees
545,664.80
Other income 107,109.85
TOTAL INCOME 37,703,657.17
EXPENSES
(4) Management and advisory fees
9,233,227.94
(6) Custodian fees
236,928.37
(6) Domiciliation, administration and transfer agent fees
2,681,221.11
Audit, printing and publication expenses 63,919.52
(3) Taxe d'abonnement
306,040.21
Bank charges 144,670.17
Interest paid 17,210.48
Other charges 56,916.61
TOTAL EXPENSES 12,740,134.41
NET INCOME / (LOSS) FROM INVESTMENTS 24,963,522.76
Net realised gain / (loss) on sales of investments 55,826,087.81
Net realised gain / (loss) on forward foreign exchange contracts -27,734,330.30
Net realised gain / (loss) on foreign exchange 1,103,174.38
NET REALISED PROFIT / (LOSS) 54,158,454.65
Change in net unrealised appreciation / (depreciation) on investments 77,331,676.27
Change in net unrealised appreciation / (depreciation) on forward foreign exchange contracts -8,520,045.98
NET INCREASE / (DECREASE) IN NET ASSETS AS A RESULT OF OPERATIONS 122,970,084.94
EVOLUTION OF THE CAPITAL
Subscriptions of shares 373,122,599.93
Redemptions of shares -360,224,867.01
(9) Dividends distributed
-49,448.82
Currency translation -37,375.52
NET ASSETS AT THE END OF THE PERIOD 1,692,751,996.36
The accompanying notes form an integral part of these financial statements.
Page
7
EUR