Investec Global Strategy Fund Ld
18 August 2000
LETTER TO COMPANY ANNOUNCEMENTS OFFICE
Re Investec Global Strategy Fund Limited - Interim Report & Accounts (Formerly
known as Guinness Flight Global Strategy Fund Limited)
We are pleased to advise that the Interim Report to 30 June 2000 of Investec
Global Strategy Fund Limited was today approved by a Directors sub-committee (as
requested at a Board Meeting of the above Company held in Zurich on Friday 11th
August 2000).
A copy of the Revenue Account, which contains comparative figures for the
equivalent period 1999, follows.
Dividends payable by Investec Global Strategy Fund Limited, as previously
advised, were approved by the Board at that Meeting.
FROM INVESTEC ASSET MANAGEMENT GUERNSEY LIMITED
REVENUE ACCOUNT
for the period ended 30 June 2000
Year ended U.S.
30 June 2000 Dollar Sterling Euro
1999 Total Money Money Money
Total US$000's Notes US$000's US$000's £000's EUR000's
Revenue
7,747 Dividends receivable 5(f).6(a) 7,846 - - -
15,203 Income from fixed 5(f).6(b) 16,246 - - -
interest securities
5,163 Interest receivable 5(f).6(c) 6,677 1,430 1,491 328
28,113 Total revenue 30,769 1,430 1,491 328
Expenses
6,073 Management fee 7,241 115 125 43
789 Custodian fee 820 - - -
58 Directors' fee 58 2 2 1
58 Auditors' remuneration 52 2 2 1
915 Promotional contribution 985 - - -
159 Safe custody charges 163 - - -
322 Registration expenses 380 11 12 4
489 Administration, legal 526 16 17 6
and other expenses
1 Guernsey exempt company fee 1 - - -
9 Interest payable 135 2 - -
8,873 10,361 148 158 55
Net revenue/(deficit) before tax
19,240 and equalisation 20,408 1,202 1,333 273
(1,604) Withholding taxation (1,573) -
Net equalisation received/
(paid) on applications and
(106) redemptions 7 (717) 204 (354) 23
17,530 Net revenue for the 18,118 1,486 979 296
financial period
290 Retained revenue brought forward 312 6 35 -
- Transfer from/(to)
share premium/
capital reserves 3 106 - - -
17,820 Total distributable revenue 18,536 1,492 1,014 296
17,514 Dividends 16 18,290 1,438 994 292
$306 Retained revenue carried forward $216 $54 £20 EUR4
Year ended Global
30 June Managed Dollar Sterling Emerging
1999 Currency Managed Managed Currency
Total US$000's US$000's US$000's £000's US$000's
Revenue
7,747 Dividends receivable - - - -
15,203 Income from fixed 845 220 608 228
interest securities
5,163 Interest receivable 713 206 276 54
28,113 Total revenue 1,558 426 884 282
Expenses
6,073 Management fee 201 53 101 33
789 Custodian fee 32 9 17 4
58 Directors' fee 2 1 2 -
58 Auditors' remuneration 2 - 1 -
915 Promotional contribution 37 10 19 4
159 Safe custody charges 2 - 1 -
322 Registration expenses 13 3 7 2
489 Administration, legal 17 5 8 2
and other expenses
1 Guernsey exempt company fee - - - -
9 Interest payable - - - -
8,873 309 81 156 45
Net revenue/(deficit)
before tax
19,240 and equalisation 1,249 345 728 237
(1,604) Withholding taxation - - - -
Net equalisation received/
(paid) on
(106) applications and (87) (148) (88) (20)
redemptions
17,530 Net revenue for the 1,162 197 610 217
financial period
290 Retained revenue 13 12 41 -
brought forward
- Transfer from/(to)
share premium/capital reserves - - - (1)
17,820 Total distributable 1,175 209 681 216
revenue
17,514 Dividends 1,152 205 659 216
$306 Retained revenue carried forward $23 $4 £22 $
U.S.
Global Dollar
High U.S. High
Global Income Dollar Income Sterling European
Bond Bond Bond Bond Bond Bond
US$000's US$000's US$000's US$000's £000's EUR000's
- - - - - -
2,396 2,945 1,334 4 3,428 1,025
67 45 105 - 88 68
2,463 2,990 1,439 4 3,516 1,093
449 295 170 - 364 188
56 35 28 - 60 24
3 2 2 - 3 1
3 2 2 - 3 1
64 40 32 - 68 27
7 5 4 - 3 2
22 14 12 1 24 9
31 19 15 - 33 13
- - - - - -
14 32 - - 4 -
649 444 265 1 562 265
1,814 2,546 1,174 3 2,954 828
(9) - (19)
(244) (46) 252 36
1,561 2,500 1,426 3 2,954 845
19 14 6 - 23 13
- - - - - -
1,580 2,514 1,432 3 2,977 858
1,574 2,502 1,407 - 2,899 849
$6 $12 $25 $3 £78 EUR9
Asia &
European Pacific
High Currency Global American
Income and Balanced Global American Smaller UK
Bond Bond Growth Equity Equity Companies Equity
EUR000's US$000's US$000's US$000's US$000's US$000's £000's
- - 100 783 108 24 759
447 469 257 1 - - 1
188 14 181 46 11 5 39
635 483 538 830 119 29 799
68 78 150 576 102 40 263
9 9 19 71 13 5 33
0 1 1 4 1 - 2
0 1 1 4 1 - 2
10 11 21 81 14 6 37
1 1 2 14 2 1 2
3 4 8 28 5 2 13
5 5 11 39 7 4 18
- - - - - - -
- 9 - 5 - - 3
96 119 213 822 145 58 373
539 364 325 8 (26) (29) 426
- - (25) (183) (31) (7) (75)
26 (55) (5) - - - (2)
565 309 295 (175) (57) (36) 349
2 8 7 - 7
- (7) - - - 36 -
567 310 302 (175) (57) - 356
563 310 297 - - - 350
EUR4 $- $5 $(175) $(57) $- £6
Asia Asian Hong Japan Japan Continental
New Smaller Kong Equity Smaller European
Economy Companies Equity Companies
US$000's US$000's US$000's US$000's US$000's US$000's
238 89 230 120 57 1,744
- - 4 1 - -
21 1 7 14 5 155
259 90 241 135 62 1,899
211 75 97 205 81 801
26 6 12 26 10 98
2 - 1 2 1 6
1 - 1 1 1 5
30 7 15 29 11 112
13 3 4 4 2 26
10 2 5 10 4 39
14 3 7 14 5 54
- - -
1 1 2 -
308 97 144 291 115 1,141
(49) (7) 97 (156) (53) 758
(20) (7) - (24) (11) (458)
- - 2 - - 33
(69) (14) 99 (180) (64) 333
32 - 1 - - -
- 14 - - 64 -
(37) - 100 (180) - 333
- - 100 - - -
$ (37) $ - $ - $(180) $ - $333
European Global Global Wired
Smaller Emerging Global Global Global Smaller Index
Companies Markets Energy Gold Privatisation Companies Fund
US$000's US$000's US$000's US$000's US$000's US$000's US$000's
169 85 59 36 2,286 108 457
- 5 - - - 1 -
46 10 2 5 75 23 -
215 100 61 41 2,361 132 457
146 114 27 11 849 61 714
18 14 3 1 84 8 37
1 - - - 5 1 5
1 - - - 5 1 5
20 16 3 2 96 9 90
4 11 1 - 28 1 15
7 6 1 1 33 3 33
10 9 2 1 46 5 49
- - - - - - -
0 5 3 - 20 - 30
207 175 40 16 1,166 89 978
8 (75) 21 25 1,195 43 (521)
(43) (11) (14) (2) (488) (18) (91)
- - - - - (8) -
(35) (86) 7 23 707 17 (612)
- - - 1 - - -
- - - - - (1) -
(35) (86) 7 24 707 16 (612)
- - - - - 16 -
$(35) $(86) $7 $24 $707 $- $(612)