Investec Intl. Accumulation Fund Ld
14 December 2000
INVESTEC INTERNATIONAL ACCUMULATION FUND LIMITED - INTERIM REPORT AND ACCOUNTS
For the period ended 30 September 2000
Period
ended
30
September U.S. Swiss
1999 2000 Dollar Sterling Euro Franc
Total Total Money Money Money Money
US$ Notes US$ US$ £ EUR SwFr
Revenue
600,350 Dividends 1(f), 480,058 - - - -
receivable 2(b)
2,254,780 Income 1(f), 2,563,662 230,749 - - -
from 2(b)
fixed
interest
securities
4,155,991 Interest 1(f), 3,725,101 919,900 1,186,151 211,152 74,103
receivable 2(c)
7,011,121 Total
revenue 6,768,821 1,150,649 1,186,151 211,152 74,103
Expenses
1,076,866 Management 1,017,939 88,277 99,037 24,879 13,376
fee
110,276 Custodian 102,689 - 71 - -
fee
29,000 Directors' 29,000 3,859 4,416 1,040 532
fee
15,982 Auditors'
remuneration 15,568 2,072 2,371 559 285
132,152 Promotional 122,867 - - - -
contribution
17,293 Safe custody 10,431 - - - -
charges
73,531 Registration 67,397 8,828 9,904 2,488 1,338
expenses
166,776 Administration, 173,442 23,080 26,412 8,451 3,187
legal and other
expenses
500 Guernsey exempt 500 67 76 18 9
company fee
35,909 Interest payable 6,817 - - - -
1,658,285 1,546,650 126,183 142,287 37,435 18,727
5,352,836 Net revenue 5,222,171 1,024,466 1,043,864 173,717 55,376
(deficit)before
tax
124,387 Withholding 129,355 - - - -
taxation
5,228,449 Net revenue for 5,092,816 1,024,466 1,043,864 173,717 55,376
the financial
period
Appropriation
- Redemption of (14,371,666) - - - -
shares
5,228,449 Retained (9,278,850)1,024,466 1,043,864 173,717 55,376
revenue for
the financial
period
126,932,652 Retained 137,420,795 7,332,234 19,990,873 1,412,664 889,038
revenue
brought
forward
SwFr
$132,161,101 Retained $128,141,945 $8,356,700 $21,034,737 1,586,381 944,414
revenue
carried
forward
International European U.S. Dollar
Managed Global High Yield High Yield High Yield
Currency Bond Bond Bond Bond
US$ US$ US$ EUR US$
Revenue
Dividends receivable - - - - -
Income from fixed 890,070 552,209 88,195 77,500 84,974
interest securities
Interest receivable 494,566 60,179 - 1,854 965
Total Revenue 1,384,636 612,388 88,195 79,354 85,939
Expenses
Management fee 161,438 111,235 7,888 8,979 7,420
Custodian fee 26,874 13,955 985 1,114 1,237
Directors' fee 4,828 2,273 157 158 197
Auditors' renumeration 2,592 1,220 84 85 106
Promotional
contribution 32,288 16,685 1,183 1,347 1,484
Safe custody charges 1,645 1,497 93 82 125
Registration expenses 10,763 5,562 394 449 495
Administration,legal
and other expenses 28,877 13,592 939 1,101 1,178
Guernsey exempt
company fee 83 39 3 3 3
Interest payable 50 59 4,450 - -
269,438 166,117 16,176 13,318 12,245
Net revenue/(deficit)
before tax 1,115,198 446,271 72,019 66,036 73,694
Withholding taxation - - - - -
Net revenue for the
financial period 1,115,198 446,271 72,019 66,036 73,694
Appropriation
Redemption of shares - - (8,477,133) (3,123,113) (3,138,698)
Retained revenue for
the financial
period 1,115,198 446,271 (8,405,114) (3,057,077) (3,065,004)
Retained revenue
brought forward 48,487,251 18,856,589 8,405,114 3,057,077 3,065,004
Retained revenue
carried forward $49,602,449 $19,302,860 $ - EUR - $ -
Sterling
High Yield Global Global Pan
Bond Balanced Growth European
£ US$ US$ £
Revenue
Dividends receivable - 89,089 227,581 110,509
Income from fixed
interest securities 252,783 275,339 - -
Interest receivable 6,047 142,857 100,519 8,536
Total revenue 258,830 507,285 328,100 119,045
Expenses
Management fee 27,218 139,896 192,348 57,595
Custodian fee 4,182 17,524 24,134 7,243
Directors' fee 667 2,925 3,892 1,155
Auditors' remuneration 358 1,570 2,089 620
Promotional contribution 5,024 20,985 28,852 8,639
Safe custody charges 92 1,862 3,762 838
Registration expenses 1,675 6,995 9,618 2,880
Administration, legal
and other expenses 3,988 17,495 23,278 6,911
Guernsey exempt company
fee 11 50 67 20
Interest payable 1,486 1 17 29
44,701 209,303 288,057 85,930
Net revenue/(deficit)
before tax 214,129 297,982 40,043 33,115
Withholding tax - 37,745 52,625 26,368
Net revenue for the
financial period 214,129 260,237 (12,582) 6,747
Appropriation
Redemption of shares - - - -
Retained revenue for
the financial period 214,129 260,237 (12,582) 6,747
Retained revenue brought
forward 4,925,728 5,103,504 165,490 498,704
Retained revenue carried
forward £5,139,857 $5,363,741 $152,908 £505,451