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JSE BGREEN
BBET
BGREEN - BettaBeta Be Green Exchange Traded Fund Collective Investment Scheme
- Abridged audited results for the month ended 31 December 2011
BettaBeta Be Green Exchange Traded Fund Collective Investment Scheme
A portfolio in the BettaBeta Be Green Exchange Traded Fund Collective
Investment Scheme (BGREEN) registered as such in terms of the Collective
Investment Schemes Control Act, 45 of 2002 (the "Act") (the "portfolio")
JSE code: BGREEN
ISIN: ZAE000162277
ABRIDGED AUDITED RESULTS FOR THE MONTH ENDED 31 DECEMBER 2011
STATEMENT OF COMPREHENSIVE INCOME
for the year month 31 December 2011
2011
R
Income
Dividend income 149 672
Interest income 516
Total income 150 188
Fair value adjustment
Realised gains on financial instruments designated at 619 858
fair value through profit or loss
Unrealised (losses)/ gains on financial instruments 1 711 261
designated at fair value through profit or loss
Total fair value adjustment 2 331 119
Expenses
Investment fee 8 129
Trustee fees 5 753
Other 574
Total operating expenses 14 456
Increase in net assets attributable to investors 2 466 851
before distributions
Income distributions (-)
(Decrease)/Increase in net assets attributable to 2 466 851
investors after distributions
STATEMENT OF FINANCIAL POSITION
at 31 December 2011
2011
R
ASSETS
Listed equities designated held at fair value through 102 271 819
profit or loss
Cash and cash equivalents 97 702
Total assets 102 369 521
LIABILITIES
Other payables 13 882
Total liabilities (excluding net assets attributable 13 882
to investors)
Net assets attributable to investors 102 355 639
STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO INVESTORS
for the month ended 31 December 2011
Capital Income Net assets
attributable attributable attributable
to investors to investors to investors
R R R
Balance at 01 December 2011 99 888 788 - 99 888 788
Increase in net assets 2 331 119 135 732 2 466 851
attributable to investors
Balance at 31 December 2011 102 219 907 135 732 102 355 639
STATEMENT OF CASH FLOWS
for the month ended 31 December 2011
2011
R
Net cash generated from operating activities
Cash utilised by operations (574)
Interest received 516
Dividends received 149 672
Investment in listed Investments (27 387 701)
Disposal of listed Investments 27 335 789
97 702
Net cash inflow from operating activities
Net movement in cash and cash equivalents 97 702
Cash and cash equivalents at the beginning of the year -
Cash and cash equivalents at the end of the year 97 702
Statement of compliance
The financial statements are prepared in accordance with International
Financial Reporting Standards (`IFRS`) issued by the International
Accounting Standards Board (`IASB`), the AC500 Standards issued by the
Accounting Practices Board and in accordance with the requirements of the
Collective Investment Schemes Control Act of South Africa (`CISCA`), in
order to meet the requirements of the Trust Deed approved by the Financial
Services Board.
Functional and presentation currency
These financial statements are presented in South African Rand, which is
the Portfolio`s functional currency.
Accounting policies
The financial statements incorporate the principal accounting policies that
are consistent with those adopted in the previous financial year.
Forthcoming requirements
New standards and interpretations not yet adopted
A number of standards, amendments to the standards and interpretations are not
effective for the year ended 31 December 2011, and have not been applied in
preparing these financial statements. All standards and interpretations issued
but not effective for the year ended 31 December 2011 have been considered.
Except for the IFRS3 and IFRS10, none of these are expected to have a
significant effect on the measurement of the amounts recognized in the
financial statements of the Portfolio.
Standard/Interpretation Effective date
IFRS 7 Disclosures - Transfers Annual periods beginning on or
amendment of Financial Assets after 1 July 2011
IFRS 1 Severe Hyperinflation Annual periods beginning on or
amendment and Removal of Fixed after 1 July 2011
Dates for First-time
Adopters
IAS 12 Deferred tax: Recovery Annual periods beginning on or
amendment of Underlying Assets after 1 January 2012
IAS 1 amendment Presentation of Annual periods beginning on or
Financial Statements: after 1 July 2012
Presentation of Items of
Other Comprehensive
Income
IAS 19 Employee Benefits: Annual periods beginning on or
amendment Defined benefit plans after 1 January 2013
IAS 27 Separate Financial Annual periods beginning on or
Statements (2011) after 1 January 2013
IAS 28 Investments in Annual periods beginning on or
Associates and Joint after 1 January 2013
Ventures (2011)
IFRS 10 Consolidated Financial Annual periods beginning on or
Statements after 1 January 2013
IFRS 11 Joint Arrangements Annual periods beginning on or
after 1 January 2013
IFRS 12 Disclosure of Interests Annual periods beginning on or
in Other Entities after 1 January 2013
IFRS 13 Fair Value Measurement Annual periods beginning on or
after 1 January 2013
IFRS 9 (2009) Financial Instruments Annual periods beginning on or
after 1 January 2015
IFRS 9 (2010) Financial Instruments Annual periods beginning on or
after 1 January 2015
Audit report
KPMG Inc, the entity`s independent auditors, has audited the annual financial
statements of the BGREEN Portfolio from which the abridged results contained
in this announcement have been derived, and has expressed an unmodified audit
opinion on the annual financial statements. Their audit report is available
for inspection at the registered office of Nedbank Limited
A full copy of these financial statements is available on the BettaBeta
website www.bettabeta.co.za.
26 March 2012
Sponsor
Nedbank Capital
Trustee
FirstRand Bank Limited
Manager
Nedgroup Beta Solutions (Proprietary) Limited
Date: 26/03/2012 11:46:01 Produced by the JSE SENS Department.
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