GLPROP 201903290118A
Preliminary Financial Statements for the year ended 31 December 2018
CORESHARES INDEX TRACKER COLLECTIVE INVESTMENT SCHEME
INSTRUMENT: CORESHARES S&P GLOBAL PROPERTY ETF
ABBREVIATED NAME: CoreGProp
SHARE CODE: GLPROP
ISIN CODE: ZAE000268660
PRELIMINARY FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED
31 DECEMBER 2018
2018 2017
USD USD
REVENUE
Unrealised gain on financial assets at fair value through profit or loss - 1 272 178
Other income 178 499 18
Gain on exchange - 266 719
Dividend income 1 135 437 630 352
1 313 936 2 169 267
EXPENDITURE
Custodian fees 29 589 21 105
Brokerage fees 26 144 30 632
Management fees 124 100 73 141
Audit fees 11 270 -
Bank charges 298 -
Unrealised loss on financial assets at fair value through profit or loss 1 500 012 -
Loss on exchange 86 494 -
Loss on disposal of financial assets at fair value through profit or loss 793 721 297 047
2 571 628 421 925
(Loss)/profit before tax (1 257 692) # 1 747 342
Tax expense (157 385) (88 476)
(Loss)/profit for the year (1 415 077) 1 658 866
Other comprehensive income for the year - -
(Decrease)/increase in net assets attributable to the holders of (1 415 077) 1 658 866
participating shares
(Loss)/earnings per share (0.14) 0.99
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2018
2018 2017
USD USD
ASSETS
Financial assets at fair value through profit or loss 26 082 996 23 394 637
Other receivables 94 096 76 779
Cash and cash equivalents 374 811 153 992
Total assets 26 551 903 23 625 408
LIABILITIES
Other payables 171 326 81 191
Tax payable 5 834 4 997
Total liabilities 177 160 # 86 188
NET ASSETS ATTRIBUTABLE TO THE HOLDERS OF 26 374 743 23 539 220
PARTICIPATING SHARES
NAV per share 2.39 2.60
STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO THE HOLDERS OF
PARTICIPATING SHARES FOR YEAR ENDED 31 DECEMBER 2018
Net Asset
Attributable to
Unit Holders
USD
At 1 January 2017 11 097 610
Increase in net assets attributable to the holders of participating shares 1 658 866
Contributions and redemptions by holders of participating shares:
Issue of participating shares during the year 12 753 797
Redemption of participating shares during the year (1 296 469)
Refund during the year (4 608)
Dividends paid (669 976)
At 31 December 2017 23 539 220
At 1 January 2018 23 539 220
Decrease in net assets attributable to the holders of participating shares (1 415 077)
Contributions and redemptions by holders of participating shares:
Issue of participating shares during the year 6 248 663
Redemption of participating shares during the year (1 273 417)
Dividends paid (724 646)
At 31 December 2018 26 374 743
STATEMENT OF CASH FLOWS FOR YEAR ENDED 31 DECEMBER 2018
2018 2017
USD USD
Cash flows from operating activities
(Loss)/profit before tax (1 257 692) 1 747 342
Adjustment for:
Unrealised loss/(gain) on financial assets at fair value through profit or loss 1 500 012 (1 272 178)
Dividend income (1 135 437) (630 352)
Unrealised foreign exchange loss/(gain) on retranslation of financial assets 122 372 (286 669)
at fair value through profit or loss
Loss on disposal of financial assets at fair value through profit or loss 793 721 297 047
Income from spin off transaction (178 465) (18)
(155 489) (144 828)
Working capital movements
Increase in other payables 90 134 81 191
(Increase)/decrease in other receivables (13 748) 1 304
76 386 82 495
Tax paid (156 548) (83 479)
Net cash used in operating activities (235 651) (145 794)
Cash flows from investing activities
Acquisition of investments (13 574 022) (16 272 587)
Proceeds from disposal of investments 8 648 023 4 579 980
Dividend received 1 131 869 590 219
Net cash used in investing activities (3 794 130) (11 102 388)
Cash flows from financing activities
Proceeds from issue of participating shares 6 248 663 12 753 797
Redemption of participating shares (1 273 417) (1 296 469)
Refund of proceeds of participating shares - (4 608)
Dividend paid (724 646) (669 976)
Net cash generated from financing activities 4 250 600 10 782 744
Net increase/(decrease) in cash and cash equivalents 220 819 (465 456)
Cash and cash equivalents at beginning of the year 153 992 619 448
Cash and cash equivalents at end of the year 374 811 153 992
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.
29 March 2019
Sponsor: Grindrod Bank Limited
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