Page 155 - ar2013

Financial
Statements
153
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
Net assets at beginning of the year 5,702,926 5,246,022 5,513,826 5,072,720
Operations
Total return for the year 574,366 536,333 537,177 519,758
Hedging reserves
Effective portion of changes in fair value
of cash flow hedges 7,515 (9,080) – –
Movement in foreign currency translation reserves 6,925 7,856 – –
Movement in general reserves 485 447 – –
Unitholders’ transactions
Creation of units
– Units issued in respect of RCS Trust’s
asset management fees 5,585 5,479 5,585 5,479
– Units issued in respect of placement – 250,000 – 250,000
Issue expenses (Note 27) – (3,461) – (3,461)
Distributions to Unitholders (289,058) (330,670) (289,058) (330,670)
Net decrease in net assets resulting from
Unitholders’ transactions (283,473) (78,652) (283,473) (78,652)
Net assets at end of the year 6,008,744 5,702,926 5,767,530 5,513,826