170135 Schroder UK Real Estate Interim 170135 Schroder UK Real … · (Financial Conduct Authority)...
Transcript of 170135 Schroder UK Real Estate Interim 170135 Schroder UK Real … · (Financial Conduct Authority)...
Schroder UK Real
Estate Fund Feeder TrustInterim Unaudited
Financial Statements30 September 2017
For professional investors
and advisers only
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Contents
Governance
Report of the Authorised Fund Manager andStatement of Responsibilities* 2
Financial Statements
Statement of Total Return 3
Statement of change in net assets attributableto shareholders 3
Balance Sheet 4
Cashflow 4
Accounting policies 5
Reports & Accounts 6
Manager Contacts 6
Key Service Providers Inside back cover
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*Collectively these comprise the Authorised Fund Manager’s Report
Interim Unaudited Financial Statements
for the period ended 30 September 2017
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2Schroder UK Real Estate Fund Feeder Trust
The Financial StatementsWe are pleased to present the interim Unaudited FinancialStatements of the Schroder UK Real Estate Fund Feeder Trust(“the Trust”) for the year ended 30 September 2017.
Statement of the Authorised FundManager’s ResponsibilitiesThe Collective Investment Schemes Sourcebook of the FCA(Financial Conduct Authority) requires the Authorised FundManager to prepare financial statements for each accountingperiod which give a true and fair view of the financial positionof the Trust at the period end and of the net income and netgains or losses on the scheme property of the Trust for theperiod then ended.
In preparing the financial statements the Manager isrequired to:
– follow applicable accounting standards;
– make judgements and estimates that are reasonable andprudent;
– select suitable accounting policies and then apply themconsistently;
– prepare the financial statements on the going concernbasis unless it is inappropriate to presume that the Trustwill continue in operation for the foreseeable future; and
– comply with the disclosure requirements of theStatement of Recommended Practice for AuthorisedFunds issued by the IMA (Investment ManagementAssociation) in May 2014.
The Manager is required to keep proper accounting recordsand to manage the Trust in accordance with the Regulationsand the Instrument of Incorporation.
The Manager is responsible for taking reasonable steps forthe prevention and detection of fraud and otherirregularities.
We hereby approve the Unaudited Financial Statements ofthe Schroder UK Real Estate Fund Feeder Trust for the periodto 30 September 2017 in accordance with the requirementsof the Collective Investment Schemes Sourcebook of the FCA.
J. A. Walker-Hazell
P. Chislett
Schroder Unit Trusts Limited 15 December 2017
Governance
Report of the Authorised Fund Manager and Statement of
Responsibilities
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Interim Unaudited Financial Statements
for the period ended 30 September 2017 3
Financial Statements
Statement of Total Return
Period to Period to30 September 31 March
2017 2017
Income
Net capital (losses)/gains (3,421) 4,767
Revenue 4,850 2,337
Expenses – –
Net revenue before taxation 4,850 2,337
Taxation (753) (440)
Net revenue after taxation 4,097 1,897
Total return before distribution 676 6,664
Finance costs: distribution (4,097) (1,897)
Change in net assets attributable to shareholders from investment activities (3,421) 4,767
Statement of change in net assets attributableto shareholders
Period to Period to30 September 31 March
2017 2017
Opening net assets attributable to shareholders 148,530 143,204
Amounts receivable on issue of shares 275,118 3,730
Amounts payable on cancellation of shares (2,426) (3,171)
Net amounts receivable on issue of shares 272,692 559
Change in net assets attributable to shareholders from investment activities (3,421) 4,767
Closing net assets attributable to shareholders 417,801 148,530
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4Schroder UK Real Estate Fund Feeder Trust
As at As at30 September 31 March
2017 2017
ASSETS
Investment Assets 417,801 148,530
Debtors 1,177 401
Cash and Cash equivalents 565 356
Total other assets 1,742 757
Total Assets 419,543 149,287
LIABILITIES
Creditors 751 443
Distribution payable 991 314
Total liabilities 1,742 757
Net assets attributable to shareholders 417,801 148,530
Number of units 9,311,960.235 3,418,404.773
Net asset value per unit £44.87 £43.45
Cashflow
As at As at30 September 31 March
2017 2017
Net cash inflow from operating activities 3,636 1,873
Servicing of finance
Distributions paid (3,427) (1,919)
Total cash outflow from servicing of finance (3,427) (1,919)
Financial investments
Purchase of investments (272,692) (559)
Total cash outflow from financial investments (272,692) (559)
Financing
Amounts received on issue of shares 272,692 559
Total cash inflow from financing 272,692 559
Increase/(decrease) in cash in the period 209 (46)
Net cash at the start of the period 356 402
Net cash at the end of the period 565 356
Financial Statements
Balance Sheet
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Notes to the Financial Statements (unaudited)
Accounting policies
Basis of accountingThe accounts have been prepared under the historical costbasis, as modified by the revaluation of investments, and inaccordance with the Statement of Recommended Practice forAuthorised Funds issued by the IMA in May 2014.
The accounting policies applied are consistent with those ofthe annual accounts for the year ended 31 March 2017 andare described in those annual accounts.
Interim Unaudited Financial Statements
for the period ended 30 September 2017 5
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Unaudited General Information
Reports & AccountsThis document is a short report for the Schroder UK RealEstate Fund Feeder Trust for the period to 30 September2017. Further information about the activities andperformance of the Fund during this period can be foundwithin the Quarterly Investor Reports on the Schroder UKReal Estate Fund Feeder Trust website:http://www.schroders.com/en/uk/schroder-uk-real-estate-fund.
Manager ContactsFor general information and queries on secondary marketavailability, please contact:
Tom DoreyProduct [email protected]+44 (0)20 7658 3552
James LassFund [email protected]+44 (0)20 7658 3980
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Key Service Providers
Authorised Corporate DirectorSchroder Unit Trusts Limited 31 Gresham StreetLondon EC2V 7QA
Investment ManagerSchroder Real Estate Investment Management Limited31 Gresham Street LondonEC2V 7QASchroder Unit Trusts Limited and Schroder Real Estate InvestmentManagement are authorised and regulated by the FCA.
RegistrarNorthern Trust Global Services Limited 50 Bank StreetCanary WharfE14 5NT
DepositaryNational Westminster Bank plc135 BishopsgateLondon EC2M 3UR
Standing Independent ValuersBNP Paribas Real Estate Advisory& Property Management Limited 90 Chancery LaneLondon WC2A 1EU
Knight Frank LLP 55 Baker Street LondonW1U 8AN
Legal Adviser Eversheds LLP One Wood Street LondonEC2V 7WS
Independent Auditors PricewaterhouseCoopers LLP 7 More London Riverside LondonSE1 2RT
Real Estate Managers Jones Lang LaSalle Austin HouseSt Crispens Road NorwichNR3 1YF
Knight Frank 55 Baker Street LondonW1U 8AN
The terms of all appointments including remuneration andtermination provisions can be made available upon request.
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