Information  X 
Enter a valid email address

Guin. Flight Global (88GY)

  Print      Mail a friend

Monday 23 August, 1999

Guin. Flight Global

Interim Results

GUINNESS FLIGHT GLOBAL STRATEGY FUND LIMITED
20 August 1999

To:  Company Announcements Office

Guinness Flight Global Strategy Fund Limited - Interim Report & Accounts

1.  We are pleased to advise that a meeting of the Board of Directors of the
    above named Company held in Zurich on Thursday 19 August 1999, the Interim
    Report to 30 June 1999 was approved.

    Below is a copy of the Revenue Account which contains comparative figures
    for the equivalent period in 1998.

2.  Dividends payable by Guinness Flight Global Strategy Fund Limited, for the
    quarter ending 30 June 1999 are as per the attached schedule, and were
    approved by the Board at the above meeting.

Revenue Account
for the period ended 30th June 1999


Period ended                   
30th June                                               U.S.
1998                                           1999   Dollar Sterling     Euro
Total US$000's                                Total    Money    Money    Money
US$000's                                     Notes    US$000's US$000's US$000's

         REVENUE
 7,582   Dividends receivable 5(f),6(a)      6,143        -        -        -
17,924   Income from fixed interest         15,203        -        -        -
          securities          5(f),6(b)
 5,831   Interest receivable  5(f),6(c)      5,163      840      358      154
31,337   TOTAL REVENUE                      26,509      840      358      154

         EXPENSES
 6,118   Management fee                      6,073       86       32       26
   796   Custodian fee                         789        -        -        -
    58   Directors's fee                        58        1        1        1  
    32   Auditors' remuneration                 58        1        1        1  
   939   Promotional contribution              915        -        -        -  
    69   Safe custody charges                  159        -        -        -  
   332   Registration expenses                 322        9        3        3
   331   Administration, legal and other       489       13        5        5
          expenses
     1   Guernsey exempt company fee             1        -        -        - 
    74   Interest payable                        9        -        -        -  
 8,750                                       8,873      110       42       36
         NET REVENUE/(DEFICIT) BEFORE 
22,587   EQUALISATION                       17,636      730      316      118
         Net equalisation received/(paid) 
 (367)   on applications and redemptions  7  (106)       75       33        9

22,220   NET REVENUE FOR THE FINANCIAL 
         PERIOD                             17,530      805      349      127

   182   RETAINED REVENUE BROUGHT FORWARD      290        -       10        -
     -   Transfer from/(to) capital reserves     -        -        -        -

22,402   TOTAL DISTRIBUTABLE REVENUE        17,820      805      359      127

20,156   DIVIDENDS                      15  17,514      797      348      124

$2,246   RETAINED REVENUE CARRIED FORWARD     $306       $8      £11     EUR3


Period ended                   
30th June                                              EMMA     EMMA
1998                                       Managed   Dollar Sterling  Emerging
Total US$000's                            Currency  Managed  Managed  Currency
US$000's                                  EUR000's US$000's US$000's    £000's

         REVENUE
 7,582   Dividends receivable 5(f),6(a)          -        -        -        -
17,924   Income from fixed interest            447      235      675      271
          securities          5(f),6(b)
 5,831   Interest receivable  5(f),6(c)      1,035      148      437      110
31,337   TOTAL REVENUE                       1,482      383    1,112      381

         EXPENSES
 6,118   Management fee                        232       51      138       46
   796   Custodian fee                          40        9       24        6
    58   Directors's fee                         3        1        3        -  
    32   Auditors' remuneration                  3        1        3        -  
   939   Promotional contribution               46       10       27        7  
    69   Safe custody charges                    2        1        2        1  
   332   Registration expenses                  15        3        9        2
   331   Administration, legal and other        24        5       12        4
          expenses
     1   Gurnsey exempt company fee              -        -        -        - 
    74   Interest payable                        6        -        -        -  
 8,750                                         371       81      218       66
         NET REVENUE/(DEFICIT) BEFORE 
22,587   EQUALISATION                        1,111      302      894      315
         Net equalisation received/(paid) 
 (367)   on applications and redemptions  7   (34)       10       74      (2)

22,220   NET REVENUE FOR THE FINANCIAL 
         PERIOD                              1,077      312      968      313

   182   RETAINED REVENUE BROUGHT FORWARD        9        5       11        3
     -   Transfer from/(to) capital reserves     -        -        -        -

22,402   TOTAL DISTRIBUTABLE REVENUE         1,806      317      979      316

20,156   DIVIDENDS                      15   1,072      303      975      311

$2,246   RETAINED REVENUE CARRIED FORWARD      $14      $14       £4       $5

                Global                       Gilt                  European
                  High          U.S.          and                      High
  Global        Income        Dollar     Sterling      European      Income
    Bond          Bond          Bond         Bond          Bond        Bond
US$000's      US$000's      US$000's       £000's      US$000's      £000's
      
       -             -             -            -             -           -  
   3,139         1,932         1,345        3,097           775         210
     441           230            38          222            38           7 
   3,580         2,162         1,383        3,319           813         217 
     711           300           181          368           208          41 
      91            38            31           64            27           5 
       7             3             2            4             2           -
       7             3             2            4             2           - 
     106            45            36           73            31           6
      10             5             4            5             3           1
      36            15            13           24            10           2  
      56            23            18           37            16           3     
       -             -             -            -             -           -
       1             -             -            -             2           -
   1,025           432           287          579           301          58

   2,555         1,730         1,096        2,740           512         159   

   (271)            32          (63)          (2)           (3)         (3)
   2,284         1,762         1,033        2,738           509         156 
      31            11            15           67             1           3 
       -             -             -            -             -           -
   2,315         1,773         1,048        2,805           510         159
   2,274         1,766         1,040        2,756           497         157
     $41            $7            $8          £49           $13          £2 

   Asian
 Pacific   
Currency       Global                    American      American
     and     Balanced        Global          Blue       Smaller        U.K.
    Bond       Growth        Equity          Chip     Companies        Fund
US$000's     US$000's      US$000's      US$000's      US$000's      £000's

       -           46           882            78            17         825  
     728           54             -             -             -           -
      49          110            97            15             5          33 
     777          210           979            93            22         858 
     114           62           566            90            51         248 
      15            8            73            12             7          33 
       1            -             5             1             -           2
       1            -             5             1             -           2 
      17            9            85            13             8          37
       1            4            12             2             1           3
       6            4            28             5             3          12  
       9            4            43             7             4          19     
       -            -             -             -             -           -
       -            -             -             -             -           -
     164           91           817           131            74         356

     613          119           162          (38)          (52)         502  

    (80)           90             -             -             -        (23)
     533          209           162          (38)          (52)         479   
      11            -             2             -             -           1
       -            -             -             -             -           -
     544          209           164          (38)          (52)         480
     539          206           150             -             -         469
      $5           $3           $14         $(38)         $(52)         £11


                           Asian                               Japan
                         Smaller        Hong                 Smaller
    Asia    Malaysia   Companies        Kong       Japan   Companies   European
US$000's    US$000's    US$000's    US$000's    US$000's    US$000's   US$000's

     228          11          91         252          57          38        939 
       -           -           -           -           -           -          - 
      13           4           5           6          22          14         19 
     241          15          96         258          79          52        958 
     132           9          54          74          83          57        577 
      17           1           5          10          11           7         75 
       1           -           -           1           1           -          5
       1           -           -           1           1           -          5
      20           1           5          12          13           9         86
       5           -           3           3           1           2         18
       7           -           2           4           4           3         29
      10           1           3           5           6           4         44
       -           -           -           -           -           -          - 
       -           -           -           -           -           -          -
     193          12          72         110         120          82        839
      48           3          24         148         (41)        (30)       119
       5           -           5         (2)           -           -          -
      53           3          29         146        (41)        (30)        119
      12           1           -           -           -           -          -
       -           -           -           -           -           -          - 
      65           4          29         146        (41)        (30)        119
       -           -           -         144           -           -        106
     $65          $4         $29          $2       $(41)       $(30)        $13

 European       Global                                                  Global
  Smaller     Emerging        Global        Global         Global      Smaller
Companies      Markets        Energy          Gold  Privatisation    Companies
 US$000's     US$000's      US$000's      US$000's       US$000's     US$000's

       77          144            31            37          1,875           41
        -            -             -             -              -            -
        8           25             -             3             55            7
       85          169            31            40          1,930           48
       50           88            16            12            855           36
        6           11             2             2             86            5
        -            -             -             -              6            -
        -            -             -             -              6            -
        7           13             2             2             98            5
        3            9             -             -             52            1
        2            4             1             1             33            2
        4            7             1             1             51            3
        -            -             -             -              -            -
        -            -             -             -              -            -
       72          132            22            18          1,187           52
       13           37             9            22            743          (4)
        5           12             -           (2)           (16)            -
       18           49             9            20            727          (4)
        -            6             -             1             26            1
        -            -             -             -              -            -
       18           55             9            21            753          (3)
        -            -             8            20            732            -
      $18          $55            $1            $1            $21         $(3)



NAME                                          DEC. DATE     PAY DATE     AMOUNT

GEF   Guinness Flight  Euro Money Fund       30/06/1999   14/07/1999   EUR 0.27
GGB   Guinness Flight  Sterling Money Fund   30/06/1999   14/07/1999      £0.25
GGS   Guinness Flight  Gilt & Sterling Bond 
                         Fund                30/06/1999   14/07/1999      £0.18
GEH   Guinness Flight  European High Inc. 
                         Bond Fund           30/06/1999   14/07/1999      £0.18
GUK   Guinness Flight  U.K. Fund             30/06/1999   14/07/1999      £0.46
GMS   Guinness Flight  EMMA Sterling Managed 
                         Fund                30/06/1999   14/07/1999      £0.16
GUS   Guinness Flight  U.S.Dollar Money Fund 30/06/1999   14/07/1999      $0.43
GMC   Guinness Flight  Managed Currency Fund 30/06/1999   14/07/1999      $0.62 
GBO   Guinness Flight  Global Bond Fund      30/06/1999   14/07/1999      $0.63
GHI   Guinness Flight  Global High Inc. Bond 
                          Fund               30/06/1999   14/07/1999      $0.25
GDB   Guinness Flight  U.S. Dollar Bond Fund 30/06/1999   14/07/1999      $0.59
GEB   Guinness Flight  European Bond Fund    30/06/1999   14/07/1999      $0.34
GAC   Guinness Flight  Asian Currency & Bond 
                         Fund                30/06/1999    14/07/1999     $0.47
GEQ   Guinness Flight  Global Equity Fund    30/06/1999    14/07/1999     $0.20
GAS   Guinness Flight  American Smaller 
                         Companies           30/06/1999                       -
GEU   Guinness Flight  European Fund         30/06/1999    14/07/1999     $0.24 
GEN   Guinness Flight  Global Energy Fund    30/06/1999    14/07/1999     $0.13 
GAB   Guinness Flight  American Blue Chip 
                         Fund                30/06/1999                       - 
GJF   Guinness Flight  Japan Fund            30/06/1999                       -
GJS   Guinness Flight  Japan Smaller 
                         Companies Fund      30/06/1999                       - 
GHK   Guinness Flight  Hong Kong Fund        30/06/1999    14/07/1999     $0.60
GAF   Guinness Flight  Asean Fund            30/06/1999                       - 
GGO   Guinness Flight  Global Gold Fund      30/06/1999    14/07/1999     $0.15
GPR   Guinness Flight  Global Privatisation 
                         Fund                30/06/1999    14/07/1999     $0.23
GEM   Guinness Flight  Global Emerging 
                         Markets Fund        30/06/1999                       -
GBG   Guinness Flight  Global Balanced 
                         Growth Fund         30/06/1999    14/07/1999     $0.23
GSA   Guinness Flight  Asian Smaller Companies 
                         Fund                30/06/1999                       -
GMD   Guinness Flight  EMMA Dollar Managed 
                         Fund                30/06/1999    14/07/1999     $0.22
GAA   Guinness Flight  Asia Equity Fund      30/06/1999                       -
GSC   Guinness Flight  Global Smaller 
                         Companies           30/06/1999                       -
GES   Guinness Flight  European Smaller 
                         Companies           30/06/1999                       -
GEC   Guinness Flight  Emerging Currency 
                         Fund                 30/06/1999   14/07/1999     $0.31


From
David Martin
Manager, Compliance and Training
Investeco Guinness Flight



                                                                                                                                            

a d v e r t i s e m e n t