Page 91 - ar2013

Financial
Statements
Management Reports 89
Statements of
Movements in Unitholders’ Funds
Year ended 31 December 2013
The accompanying notes form an integral part of these financial statements.
Group Trust
2013 2012 2013 2012
$’000 $’000 $’000 $’000
Unitholders’ funds as at beginning of the year 978,742 913,839 504,541 508,760
Operations
Change in Unitholders’ funds
resulting from operations 132,918 137,000 14,037 (6,542)
Transfer to general reserve (3,164) (2,706) – –
Net increase/(decrease) in net assets
resulting from operations 129,754 134,294 14,037 (6,542)
Movements in hedging reserve
Effective portion of changes in fair value of
cash flow hedges 157 749 157 749
Movements in foreign currency translation
reserve
Translation differences from financial
statements of foreign operations 52,209 (35,536) – –
Exchange differences on monetary items
forming part of net investment in
foreign operations 20,819 (50,648) – –
Exchange differences on hedges of net
investment in foreign operations (21,572) 11,764 – –
Net gain/(loss) recognised directly in
Unitholders’ funds 51,613 (73,671) 157 749
Movement in general reserve 3,164 2,706 – –
Unitholders’ transactions
New Units issued 59,038 86,070 59,038 86,070
Creation of Units paid/payable to Manager
– Units issued and to be issued as satisfaction
of the portion of Manager’s management
fees payable in Units 4,122 3,987 4,122 3,987
Units issued in respect of the distribution
reinvestment plan 8,732 – 8,732 –
Distributions to Unitholders (46,414) (85,983) (46,414) (85,983)
Equity issue expenses (1,800) (2,500) (1,800) (2,500)
Net increase in net assets resulting from
Unitholders’ transactions 23,678 1,574 23,678 1,574
Unitholders’ funds as at end of year 1,186,951 978,742 542,413 504,541