Investec Intl. Accumulation Fund Ld
23 July 2002
LETTER TO RNS
We are pleased to advise that the Annual Report to 31st March 2002 of the
Investec International Accumulation Fund Limited has been agreed with the
Company's auditors and was approved by a Directors sub-committtee (as requested
at a Board Meeting of the above-named company held in Dublin on Wednesday 29th
May 2002).
Below is a copy of the Revenue Account (Final Results) which contains
comparative figures for the equivalent period in 2001.
FROM INVESTEC ASSET MANAGEMENT GUERNSEY LIMITED
Sterling
Year Ended Swiss High
31st March Franc Managed Global Yield
2001 Money Currency Bond Bond
Total US$ Notes Swfr US$ US$ £
Revenue
815,777 Dividends receivable 1(f),2(b) - - - -
4,925,462 Income from fixed interest interest
securities 1(f),2(b) - 1,038,731 1,023,479 582,944
7,491,050 Interest receivable 1(f),2(c) 144,923 316,039 24,468 4,888
13,232,289 Total revenue 144,923 1,384,770 1,047,947 587,832
Expenses
2,030,237 Management fee 30,381 235,832 217,405 50,621
199,129 Custodian fee - 18,588 12,487 3,429
58,000 Directors' fee 1,172 6,113 4,111 1,146
30,568 Auditors' remuneration 530 2,766 1,860 519
238,609 Promotional contribution - 47,037 32,521 8,665
32,286 Safe custody charges (1) 3,155 3,617 1,567
135,075 Registration expenses 3,029 15,679 25,460 6,688
338,574 Administration, legal and other expenses 4,718 24,583 16,535 4,610
1,003 Guernsey exempt company fee 18 94 63 18
9,264 Interest payable 828 2,544 4,536 (552)
3,072,745 40,675 356,391 318,595 76,711
10,159,544 Net revenue/(deficit) before tax 104,248 1,028,379 729,352 511,121
213,271 Taxation 1(f) - - 16,547 1,045
9,946,273 Net revenue for the financial year 104,248 1,028,379 712,805 510,076
Appropriation
(14,376,663) Redemption of shares - (3,400,926) - -
(4,430,390) Retained (deficit)/revenue for the financial year 104,248 (2,372,547) 712,805 510,076
137,420,795 Retained revenue brought forward 1,017,076 50,575,604 19,808,939 5,352,563
$132,990,405 Retained revenue carried forward SwFr1,121,326 $48,203,057 $20,521,744 £5,862,639
Year Ended Global Global Pan
31st March Balanced Growth European
2001 US$ US$ £
Total US$ Notes
Revenue
815,777 Dividends receivable 1(f),2(b) 234,771 404,330 233,309
4,925,462 Income from fixed interest interest
securities 1(f),2(b) 594,943 - -
7,491,050 Interest receivable 1(f),2(c) 74,614 36,788 25,857
13,232,289 Total revenue 904,328 441,118 259,166
Expenses
2,030,237 Management fee 294,603 289,820 149,831
199,129 Custodian fee 15,588 15,815 8,055
58,000 Directors' fee 5,097 4,933 2,546
30,568 Auditors' remuneration 2,306 2,232 1,152
238,609 Promotional contribution 39,760 37,529 19,365
32,286 Safe custody charges 4,362 3,847 4,419
135,075 Registration expenses 30,835 28,042 14,578
338,574 Administration, legal and other expenses 20,498 19,839 10,235
1,003 Guernsey exempt company fee 78 76 39
9,264 Interest payable 6,458 5,821 1,477
3,072,745 419,785 407,954 211,697
10,159,544 Net revenue/(deficit) before tax 484,543 33,164 47,469
213,271 Taxation 1(f) 60,439 99,883 45,646
9,946,273 Net revenue for the financial year 424,104 (66,719) 1,823
Appropriation
(14,376,663) Redemption of shares - - -
(4,430,390) Retained (deficit)/revenue for the financial year 424,104 (66,719) 1,823
137,420,795 Retained revenue brought forward 5,601,879 111,174 445,445
$132,990,405 Retained revenue carried forward $6,025,983 $44,455 £447,268
REVENUE ACCOUNT
Year Ended US
31st March 2002 Dollar Sterling Euro
2001 Total Money Money Money
Total US$ Notes US$ US$ £ €
Revenue
815,777 Dividends receivable 1(f),2(b) 971,333 - - -
4,925,462 Income from fixed
interest securities 1(f),2(b) 5,453,632 862,069 599,607 287,091
7,491,050 Interest receivable 1(f),2(c) 7,056,882 2,269,727 2,171,353 1,241,732
13,232,289 Total revenue 13,481,847 3,131,796 2,770,960 1,528,823
Expenses
2,030,237 Management fee 2,393,206 473,204 282,359 202,378
199,129 Custodian fee 78,831 - - -
58,000 Directors' fee 65,000 16,903 10,848 7,382
30,568 Auditors' remuneration 29,406 7,647 4,907 3,340
238,609 Promotional Contribution 196,762 - - -
32,286 Safe custody charges 34,827 5,380 2,776 2,281
135,075 Registration expenses 236,889 47,144 28,142 20,141
338,574 Administration, legal
and other expenses 261,400 67,978 43,626 29,688
1,003 Guernsey exempt company fee 1,000 260 167 113
9,264 Interest payable 54,249 5,000 8,000 19,130
3,072,745 3,351,570 623,516 380,825 284,453
10,159,544 Net revenue(deficit)before tax 10,130,277 2,508,280 2,390,135 1,244,370
213,271 Taxation 1(f) 243,357 - - -
9,946,273 Net revenue for the financial
year 9,886,920 2,508,280 2,390,135 1,244,370
Appropriation
(14,376,663) Redemption of shares (3,400,926) - - -
(4,430,390) Retained(deficit)/revenue for
the financial year 6,485,994 2,508,280 2,390,135 1,244,370
137,420,795 Retained revenue brought
forward 132,990,405 9,666,084 22,058,105 1,844,772
$132,990,405 Retained revenue carried
forward $139,476,399 $12,174,364 £24,448,240 €3,089,142
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