Schedule 5
(Regulation 37(2))
CONTENTS OF FINANCIAL ACCOUNTS
General
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1. The financial accounts must contain all the information required in this Schedule; interim reports must at least contain the Statement of Assets and Liabilities and the Investment Portfolio.
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2. Where the scheme has paid or proposes to pay an interim dividend, the amount of dividend should be disclosed.
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3. All accounts must contain comparative figures for the previous period except for the Investment Portfolio.
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4. The items listed under the Statement of Assets and Liabilities, Revenue Statement, Distribution Statement, Statement of Movements in Capital Account and the Notes to the Accounts, where applicable, must be disclosed.
Statement of Assets and Liabilities
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5. The following must be separately disclosed—
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(a) total value of investments
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(b) bank balances
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(c) formation costs
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(d) dividends and other receivables
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(e) amounts receivable on subscription
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(f) bank loans and overdrafts or other forms of borrowing
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(g) amounts payable on redemption
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(h) distributions payable
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(i) total value of all assets
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(j) total value of all liabilities
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(k) net asset value
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(l) number of units in issue
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(m) net asset value per unit
5. Revenue Statement
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(1) Total investment income net of withholding tax, broken down by category.
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(2) Total other income, broken down by category.
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(3) Equalisation on issue and cancellation of units.
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(4) An itemised list of various costs which have been debited to the scheme including
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fees paid to the management company
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remuneration of the custodian
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amortization of formation costs
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directors' fee and remuneration
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safe custody and bank charges
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auditors' remuneration
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interest on borrowings
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fees paid to investment adviser, if any
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other amounts paid to any connected persons of the collective investment scheme
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legal and other professional fees
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any other expenses borne by the scheme
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(5) Taxes
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(6) Amounts transferred to and from the capital account
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(7) Net income to be carried forward for distribution
Distribution Statement
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7.
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(1) Amount brought forward at the beginning of the period
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(2) Net income for the period
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(3) Interim distribution per unit and date of distribution
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(4) Final distribution per unit and date of distribution
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(5) Undistributed income carried forward
8. Statement of Movements in Capital Account
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(1) Value of the scheme as at the beginning of the period
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(2) Number of units issued and the amounts received upon such issuance (after equalization if applicable)
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(3) Number of units redeemed and the amount paid on redemption (after equalization if applicable)
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(4) Any items resulting in an increase/decrease in value of the scheme including :
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Surplus/loss on sale of investments
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Exchange gain/loss
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Unrealised appreciation/diminution in value of investments
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Net income for the period less distribution
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Amounts transferred to and from the revenue account
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Value of the scheme as at the end of the period
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Notes to the Accounts
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9. The following matters shall be set out in the notes to the accounts
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(1) Principal accounting policies
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(a) the basis of valuation of the assets of the scheme including the basis of valuation of unquoted and unlisted securities
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(b) the revenue recognition policy regarding dividend income and other income
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(c) foreign currency translation
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(d) the basis of valuation of forward foreign exchange and futures contracts
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(e) the basis of amortization of formation costs taxation
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(f) any other accounting policy adopted to deal with items which are judged material or critical in determining the transactions and in stating the disposition of the scheme:
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Any changes to the accounting policies and their financial effects upon the accounts should also be disclosed.
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(2) Transactions with Connected Persons
The following transactions should be disclosed—
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(a) details of all transactions entered into during the period between the scheme and the scheme management company, investment adviser, the directors of the scheme or any entity in which these parties or their connected persons have a material interest; and
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(b) the name of any director of the scheme or any connected person of the director if any such person becomes entitled to profits from transactions in shares or from management of the scheme and the amount of profits to which such person becomes entitled.
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(3) Borrowings
State whether the borrowings are secured or unsecured and the duration of the borrowings.
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(4) Contingent liabilities and commitments
Give details of any contingent liabilities and commitments of the scheme.
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(5) If the free negotiability of any asset is restricted by statutory or contractual requirements, this must be stated.