CSP500 201903290116A
Abridged Financial Statements for the year ended 31 December 2018
CORESHARES INDEX TRACKER COLLECTIVE INVESTMENT SCHEME
INSTRUMENT: CORESHARES S&P 500 ETF
ABBREVIATED NAME: CoreSP500
SHARE CODE: CSP500
ISIN CODE: ZAE000268694
ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
6
CoreShares Global Investments PCC
In respect of its cell CoreShares S&P 500 Exchange Traded Fund
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2018
2018 2017
USD USD
ASSETS
Financial assets at fair value through profit or loss 42 850 909 39 912 967
Other receivables 194 751 160 343
Cash and cash equivalents 129 756 95 543
Total assets 43 175 416 40 168 853
LIABILITIES
Other payables 157 423 119 303
Tax liability 8 549 4 854
Total liabilities 165 972 124 157
NET ASSETS ATTRIBUTABLE TO THE HOLDERS OF 43 009 444 40 044 696
PARTICIPATING SHARES
NAV per share 2.50 2.69
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE FOR YEAR ENDED 31 DECEMBER
2018
2018 2017
USD USD
REVENUE
Unrealised gain on financial assets at fair value through profit or - 4 583 643
loss
Realised gain on financial assets at fair value through profit or loss 66 636 273 353
Realised gain on foreign exchange 19 735 603
Dividend income 718 540 505 600
804 911 5 363 199
EXPENDITURE
Unrealised loss on financial assets at fair value through profit or 3 688 403 -
loss
Realised loss on foreign exchange 13 039 -
Audit fee 11 270 -
Custodian fees 8 066 7 641
Brokerage fees 6 172 27 548
Management fee 195 475 105 536
3 922 425 140 725
(Loss)/profit before tax (3 117 514) 5 222 474
Tax expense (15 555) (14 889)
(Loss)/profit for the year (3 133 069) 5 207 585
Other comprehensive income for the year - -
(Decrease)/increase in net assets attributable to the holders of (3 133 069) 5 207 585
participating shares
(Loss)/earnings per share (0.20) 0.44
STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO THE HOLDERS OF
PARTICIPATING SHARES FOR YEAR ENDED 31 DECEMBER 2018
Net Assets
Attributable to
Unit Holders
USD
At 1 January 2017 14 007 449
Increase in net assets attributable to the holders of participating shares 5 207 585
Contributions and redemptions by holders of participating shares:
Issue of participating shares during the year 22 972 215
Redemption of participating shares during the year (1 592 119)
Dividends paid (550 434)
At 31 December 2017 40 044 696
At 1 January 2018 40 044 696
Decrease in net assets attributable to the holders of participating shares (3 133 069)
Contributions and redemptions by holders of participating shares:
Issue of participating shares during the year 6 899 919
Redemption of participating shares during the year (332 948)
Dividends paid (469 154)
At 31 December 2018 43 009 444
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2018
2018 2017
USD USD
Cash flows from operating activities
(Loss)/profit before tax (3 117 514) 5 222 474
Adjustment for:
Unrealised loss/(gain) on financial assets at fair value through profit or 3 688 403 (4 583 643)
loss
Realised gain on financial assets at fair value through profit or loss (66 636) (273 353)
Dividend income (718 540) (505 600)
(214 287) (140 122)
Working capital movements:
Decrease in other receivables - 96
Increase in payables 38 120 119 303
38 120 119 399
Income taxes paid (11 860) (11 970)
Net cash used in operating activities (188 027) (32 693)
Cash flows from investing activities
Acquisition of investments (6 893 057) (22 786 619)
Proceeds from disposal of investment 333 348 1 594 991
Dividend received 684 132 402 441
Net cash used in investing activities (5 875 577) (20 789 187)
Cash flows from financing activities
Proceeds from issue of participating shares 6 899 919 22 972 215
Redemption of participating shares (332 948) (1 592 119)
Dividend paid (469 154) (550 434)
Net cash generated from financing activities 6 097 817 20 829 662
Net increase in cash and cash equivalents 34 213 7 782
Cash and cash equivalents at beginning of the year 95 543 87 761
Cash and cash equivalents at end of the year 129 756 95 543
The above Preliminary Financial Statements for the year ended 31 December 2018 have been prepared in
compliance with International Financial Reporting Standards.
The Board of Directors of CoreShares Global Investments PCC accepts full responsibility for the accuracy of the
information contained in these Abridged Financial Statements.
The full financial statements are available on www.coreshares.co.za
29 March 2019
Sponsor: Grindrod Bank Limited
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