Statement of operations and changes in net assets

for the year ending December 31, 2015

Download XLS

(amounts in EUR)

Note

Jan. 1, 2015 -
Dec. 31, 2015

Jan. 1, 2014 -
Dec. 31, 2014

Jan. 1, 2013 -
Dec. 31, 2013

 

 

 

 

 

Net assets at the beginning of the year

 

1,023,206,204

669,251,723

503,124,006

 

 

 

 

 

Income

 

 

 

 

Dividends, net

(2d)

8,300,186

6,496,546

4,342,054

Interest on bonds, net

(2d)

12,312,645

10,941,070

8,583,134

Other income

(7)

120,477

273,794

547,844

 

 

 

 

 

 

 

 

 

 

Total income

 

20,733,308

17,711,410

13,473,032

 

 

 

 

 

Expenses

 

 

 

 

Management fees

(4.1)

10,335,071

7,200,250

6,584,813

Service fees

(4.2)

755,201

918,433

487,004

Subscription tax

(6)

577,526

422,152

290,554

Bank charges and correspondent fees

 

324

557

Bank interest

 

47,197

6,202

1,049

Other charges

 

10

29,606

 

 

 

 

 

 

 

 

 

 

Total expenses

 

11,714,995

8,547,371

7,393,583

 

 

 

 

 

Net income from investments

 

9,018,313

9,164,039

6,079,449

 

 

 

 

 

Net realised gain on sale of investments

(2b)

55,386,262

22,240,073

16,899,269

Net realised loss on foreign exchange

 

(752,770)

(521,944)

(501,878)

 

 

 

 

 

 

 

 

 

 

Net realised gain

 

63,651,805

30,882,168

22,476,840

 

 

 

 

 

Change in net unrealised appreciation on investments

 

26,666,781

80,094,901

42,475,062

 

 

 

 

 

 

 

 

 

 

Net increase in net assets as a result of operations

 

90,318,586

110,977,069

64,951,902

 

 

 

 

 

Evolution of the capital

 

 

 

 

Subscription of shares

 

393,223,499

374,446,940

595,456,392

Redemption of shares

 

(231,253,112)

(127,254,913)

(488,666,217)

Dividend paid

 

(10,348,826)

(4,214,615)

(5,614,360)

 

 

 

 

 

 

 

 

 

 

Net assets at the end of the year

 

1,265,146,351

1,023,206,204

669,251,723

 

 

 

 

 

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