Jan 2007 Financial News

Savinvest Releases Year End Results

Jan 09, 2007

Results for the Year Ended September 30, 2006.

All figures quoted in US Dollars

Savinvest India Asia Fund (SIAF) reported a Net Asset Value of $9.82 for the year ended September 30, 2006. This is approximately 1.12 times its current price of TT$70.00. Assets totalled $25.408 million with Investment Securities at fair value accounting for 90.86 per cent of assets.

Total Income was $3.293 million with Unrealised Gains on Investment Securities making up 57.75 per cent of Total Income. Realised Gains made up 27.65 per cent of Total Income while Dividends accounted for 4.91 per cent. Total Expenditure stood at $0.843 million with the majority spent on Investment Advisory Fees (42.72 per cent), Distributor Fees (26.89 per cent) and Fund Management Fees (21.35 per cent).

Net Income before Taxation was $2.450 million while the Effective Tax Rate was 10.64 per cent. Ultimately, Net Income After Taxation was $2.189 million.

Since listing, Savinvest has traded between TT$63.00 and TT$73.00. This Fund may be an attractive buy for investors wishing to diversify their portfolio.