Statement of operations

for the year ended December 31, 2014

Download XLS

(amounts in EUR)

Notes

December 31, 2014

December 31, 2013

December 31, 2012

 

 

 

 

 

Income:

 

 

 

 

Dividend income

2

820,443

929,658

937,212

Interest on loans

2

10,398,207

6,516,701

5,599,767

Bank interest

 

33,752

215,765

337,803

Other income

7

394,209

302,136

174,377

 

 

 

 

 

 

 

 

 

 

Total income

 

11,646,611

7,964,260

7,049,159

 

 

 

 

 

Expenses

 

 

 

 

Amortisation of formation expenses

3

5,833

35,000

35,000

Investment management, distribution and service fees

6

3,623,353

2,883,454

2,069,307

Administrative and custodian fees

5

282,597

209,753

160,185

Audit and reporting expenses

 

76,357

61,485

65,290

Interest paid

 

1,994

1,132

Other expenses

8

175,909

90,977

72,857

 

 

 

 

 

 

 

 

 

 

Total expenses

 

4,166,043

3,281,801

2,402,639

 

 

 

 

 

Net operating income

 

7,480,568

4,682,459

4,646,520

 

 

 

 

 

Realised gain on investments

5,103,883

556,957

1,008,119

Realised loss on investments

(1,492,209)

(7,065)

(13,827)

Realised gain/(loss) on swaps

72,249

(411,497)

(135,213)

Realised gain on foreign exchange contracts

1,898,854

2,317,758

1,710,669

Realised loss on foreign exchange contracts

(2,473,448)

(2,843,675)

(2,633,156)

Realised gain on foreign exchange

445,640

205,984

97,430

Realised loss on foreign exchange

(151,329)

(109,600)

(138,073)

Change in unrealised appreciation on investments

13,550,202

5,892,696

4,490,560

Change in unrealised depreciation on investments

(5,016,350)

(1,978,414)

Change in unrealised appreciation on swap contracts

616,983

215,369

Change in unrealised depreciation on swap contracts

(392,881)

Change in unrealised appreciation on forward foreign exchange contracts

169,681

3,446,587

1,716,559

Change in net unrealised appreciation/(depreciation) on forward foreign exchange contracts

(11,735,519)

(380,296)

 

 

 

 

 

 

 

 

 

 

Net increase in net assets resulting from operations

 

12,475,691

9,331,147

8,606,247

 

 

 

 

 

The (PDF:) accompanying notes form an integral part of these financial statements.

Create your own report

Chart Generator – Create your own charts (teaser)

Chart Generator

Easily digested facts and figures,
for you to create and download.

Create your own charts