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

Sparinvest SICAV
SPARINVEST - INVESTMENT GRADE VALUE BONDS
Statement of Changes in Net Assets for the Period ended June 30, 2010
Note
NET ASSETS AT THE BEGINNING OF THE PERIOD 11,366,320.05
INCOME
Interest on bonds, net 494,506.88
Bank interest 1,118.86
(11) Securities lending fees
3.11
Other income 154.36
TOTAL INCOME 495,783.21
EXPENSES
(4) Management and advisory fees
54,785.75
(6) Custodian fees
1,941.15
(6) Domiciliation, administration and transfer agent fees
10,257.73
Audit, printing and publication expenses 636.04
(3) Taxe d'abonnement
2,596.50
Bank charges 1,883.09
Interest paid 3,636.68
Other charges 263.50
TOTAL EXPENSES 76,000.44
NET INCOME / (LOSS) FROM INVESTMENTS 419,782.77
Net realised gain / (loss) on sales of investments -26,385.56
Net realised gain / (loss) on forward foreign exchange contracts 3,986.94
Net realised gain / (loss) on foreign exchange 113,448.89
NET REALISED PROFIT / (LOSS) 510,833.04
Change in net unrealised appreciation / (depreciation) on investments
Change in net unrealised appreciation / (depreciation) on forward foreign
34,052.59
exchange contracts 41,112.93
NET INCREASE / (DECREASE) IN NET ASSETS AS A RESULT OF OPERATIONS 585,998.56
EVOLUTION OF THE CAPITAL
Subscriptions of shares 24,748,146.85
Redemptions of shares -23,772,681.76
(9) Dividends distributed
-47,476.05
NET ASSETS AT THE END OF THE PERIOD 12,880,307.65
The accompanying notes form an integral part of these financial statements.
EUR
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