INVESTMENT-LINKED FUNDS - Zurich

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INDEPENDENT AUDITORS’ REPORT TO THE POLICYHOLDERS MAA ASSURANCE INVESTMENT-LINKED FUNDS CONSISTING OF MAA GROWTH FUND MAA BALANCED FUND MAA INCOME FUND MAA DANA MAS MAJU MAA DANA SERI MULIA MAA SMALL CAP FUND MAA TECHNOLOGY FUND MAA CAPITAL GUARANTEED FUND MAA CASH RESERVE FUND MAA BILLION CAP FUND MAA EQUITY BOOSTER FUND MAA VULTURE FUND MAA CAPITAL GUARANTEED 2 FUND MAA YIELD GUARANTEED FUND MAA DANA MAS YAKIN MAA CAPITAL GUARANTEED 3 FUND MAA PLATINUM FUND MAA GLOBAL ASSETS GUARANTEED FUND MAA CAPITAL GUARANTEED ASIA PACIFIC EQUITIES FUND MAA CAPITAL GUARANTEED SWING 6 FUND (hereinafter referred to collectively as ‘the Funds’) REPORT ON THE FINANCIAL STATEMENTS We have audited the financial statements of MAA Assurance Investment-Linked Funds, which comprise the statements of assets and liabilities as at 31 December 2010, and the statements of income and expenditure, and changes in the net asset value for the financial year then ended, and a summary of significant accounting policies and other explanatory notes, as set out on notes 1 to 4 on pages 66 to 151. Manager’s Responsibility for the Financial Statements Malaysian Assurance Alliance Berhad, the Manager of the Funds, is responsible for the preparation of these financial statements that give a true and fair view in accordance with the MASB Approved Accounting Standards in Malaysia for Entities Other than Private Entities, as modified by the Guidelines on Investment-linked Insurance/Takaful Business issued by Bank Negara Malaysia, and for such internal control as the Manager determine are necessary to enable the presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with approved standards on auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Manager’s preparation of these financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Manager’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Manager, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. ANNUAL REPORT 2010 MAA ASSURANCE INVESTMENT-LINKED FUNDS DANA BERKAITAN-PELABURAN MAA ASSURANCE 4
INDEPENDENT AUDITORS’ REPORT TO THE POLICYHOLDERS Opinion In our opinion, the financial statements have been properly drawn up in accordance with the MASB Approved Accounting Standards in Malaysia for Entities Other than Private Entities, as modified by the Guidelines on the Investment-Linked Insurance/ Takaful Business issued by Bank Negara Malaysia, so as to give a true and fair view of the financial position of the Funds as of 31 December 2010 and of its financial performance for the financial year then ended. OTHER MATTERS This report is made solely to the Policyholders of the Funds, as a body, and for no other purpose. We do not assume responsibility to any other person for the content of this report. PRICEWATERHOUSECOOPERS (No. AF: 1146) Chartered Accountants Kuala Lumpur 29 April 2011 LAPORAN TAHUNAN 2010 DANA BERKAITAN-PELABURAN MAA ASSURANCE MAA ASSURANCE INVESTMENT-LINKED FUNDS 5
Page 1: ANNUAL REPORT LAPORAN TAHUNAN 2010
Page 4 and 5: STATEMENT BY MANAGER MAA ASSURANCE
Page 8 and 9: LAPORAN JURUAUDIT BERKECUALI KEPADA
Page 10 and 11: FUND OBJECTIVE AND FUND PERFORMANCE
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FUND OBJECTIVE AND FUND PERFORMANCE
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STATEMENT OF ASSETS AND LIABILITES
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STATEMENT OF INCOME AND EXPANDITURE
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STATEMENT OF CHANGES IN NET ASSET V
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NOTES TO THE FINANCIAL STATEMENTS 3
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EQUITY ALLOCATION AS AT 31 DECEMBER
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INVESTMENT-LINKED FUNDS - Zurich

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