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

Sparinvest SICAV
SPARINVEST - LONG DANISH BONDS
Statement of Changes in Net Assets for the Period ended June 30, 2010
Note
NET ASSETS AT THE BEGINNING OF THE PERIOD 406,255,614.86
INCOME
Interest on bonds, net 13,104,376.31
Bank interest 32,842.74
Other income 27,227.73
TOTAL INCOME 13,164,446.78
EXPENSES
(4) Management and advisory fees
1,547,738.60
(6) Custodian fees
79,771.97
(6) Domiciliation, administration and transfer agent fees
421,433.17
Audit, printing and publication expenses 50,610.88
(3) Taxe d'abonnement
181,991.32
Bank charges 32,327.97
Other charges 15,640.43
TOTAL EXPENSES 2,329,514.34
NET INCOME / (LOSS) FROM INVESTMENTS 10,834,932.44
Net realised gain / (loss) on sales of investments 5,193,551.41
Net realised gain / (loss) on foreign exchange -32,037.13
NET REALISED PROFIT / (LOSS) 15,996,446.72
Change in net unrealised appreciation / (depreciation) on investments
Change in net unrealised appreciation / (depreciation) on forward foreign
31,023,247.57
exchange contracts 2,292.58
NET INCREASE / (DECREASE) IN NET ASSETS AS A RESULT OF OPERATIONS 47,021,986.87
EVOLUTION OF THE CAPITAL
Subscriptions of shares 413,869,467.49
Redemptions of shares -24,075,601.69
(9) Dividends distributed
-269.32
NET ASSETS AT THE END OF THE PERIOD 843,071,198.21
The accompanying notes form an integral part of these financial statements.
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