Statement of operations

for the year ended December 31, 2016

Download XLS

(amounts in EUR)

Notes

December 31, 2016

December 31, 2015

December 31, 2014

 

 

 

 

 

Income:

 

 

 

 

Dividend income

2

2,714,637

1,506,020

820,443

Interest on loans

2

16,384,439

15,550,883

10,398,207

Bank interest

 

10,672

4,652

33,752

Other income

7

618,454

309,887

394,209

 

 

 

 

 

 

 

 

 

 

Total income

 

19,728,202

17,371,442

11,646,611

 

 

 

 

 

Expenses

 

 

 

 

Amortisation of formation expenses

3

5,833

Investment management, distribution and service fees

6

5,925,089

4,852,750

3,623,353

Administrative and depositary fees

5

359,188

321,384

282,597

Audit and reporting expenses

 

44,184

65,542

76,357

Interest paid

 

38,214

10,021

1,994

Other expenses

8

144,534

125,470

175,909

 

 

 

 

 

 

 

 

 

 

Total expenses

 

6,511,209

5,375,167

4,166,043

 

 

 

 

 

Net operating income

 

13,216,993

11,996,275

7,480,568

 

 

 

 

 

Realised gain on investments

5,000,469

2,207,311

5,103,883

Realised loss on investments

(2,806,422)

(151,247)

(1,492,209)

Realised gain on swaps

65,213

262,322

72,249

Realised loss on swaps

(2,217,329)

(103,453)

Realised gain on foreign exchange contracts

5,242,946

4,583,824

1,898,854

Realised loss on foreign exchange contracts

(13,197,450)

(17,384,119)

(2,473,448)

Realised gain on foreign exchange

584,567

973,092

445,640

Realised loss on foreign exchange

(486,192)

(759,475)

(151,329)

Change in unrealised appreciation on investments

9,288,688

8,715,552

13,550,202

Change in unrealised depreciation on swap contracts

(20,639)

(1,162,816)

(392,881)

Change in unrealised appreciation on forward foreign exchange contracts

964,198

169,681

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

(4,803,010)

(779,005)

(11,735,519)

 

 

 

 

 

 

 

 

 

 

Net increase in net assets resulting from operations

 

10,832,032

8,398,261

12,475,691

 

 

 

 

 

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