Imperial Pools
Total Page:16
File Type:pdf, Size:1020Kb
Imperial Pools Annual Report 2005 Inside This Report FINANCIAL STATEMENTS IMPERIAL POOLS Imperial Money Market Pool 2 Imperial Short-Term Bond Pool 4 Imperial Canadian Bond Pool 7 Imperial Canadian Dividend Pool 13 Imperial International Bond Pool 16 Imperial Canadian Income Trust Pool 20 Imperial Canadian Dividend Income Pool 22 Imperial Canadian Equity Pool 25 Imperial Registered U.S. Equity Index Pool 28 Imperial U.S. Equity Pool 30 Imperial Registered International Equity Index Pool 47 Imperial International Equity Pool 50 Imperial Overseas Equity Pool 57 Imperial Emerging Economies Pool 61 NOTES TO FINANCIAL STATEMENTS 64 AUDITORS’ REPORT 69 1 Imperial Money Market Pool Statement of Investment Portfolio As at December 31, 2005 Average Cost Current Value Par Value Holdings ($) ($) Canadian Bonds 13,400,000 407 International Inc., Variable Rate, 3.479%, 2006/11/22 13,400,000 13,404,422 3,300,000 Bank of Nova Scotia, Floating Rate, 3.628%, 2007/03/30 3,299,228 3,300,000 12,375,000 Broadway Credit Card Trust, Variable Rate, 3.237%, 2007/07/17 12,375,000 12,382,425 7,200,000 Citigroup Finance Canada Inc., Floating Rate, 3.573%, 2006/12/04 7,200,195 7,205,904 13,700,000 John Deere Credit Inc., Floating Rate, 3.633%, 2007/12/13 13,699,726 13,704,247 13,500,000 Royal Bank of Canada, Variable Rate, 3.210%, 2006/10/20 13,500,000 13,501,080 Total of Canadian Bonds (7.01%) 63,474,149 63,498,078 Total of Investments before Short-Term Investments (7.01%) 63,474,149 63,498,078 Short-Term Investments 20,000,000 Government of Canada Treasury Bill, 2.730%, 2006/01/12 19,731,400 19,977,400 50,000,000 Government of Canada Treasury Bill, 2.859%, 2006/03/09 49,320,000 49,685,500 22,000,000 Canadian Master Trust Series ’A’ Discount Note, 3.088%, 2006/01/09 21,837,420 21,980,200 10,000,000 Corporate Receivables Trust Discount Note, 3.252%, 2006/02/10 9,918,700 9,961,900 23,200,000 Corporate Receivables Trust Discount Note, 3.418%, 2006/03/10 23,003,960 23,051,354 21,800,000 Corporate Receivables Trust Discount Note, 3.481%, 2006/03/20 21,614,482 21,637,156 20,000,000 Darwin Receivables Trust Senior Discount Note, 3.021%, 2006/01/09 19,845,600 19,982,000 26,000,000 Darwin Receivables Trust Senior Discount Note, 3.151%, 2006/01/25 25,795,120 25,939,160 22,800,000 Darwin Receivables Trust Senior Discount Note, 3.361%, 2006/02/28 22,608,480 22,673,688 20,000,000 King Street Funding Trust Discount Note, 3.131%, 2006/01/18 19,846,800 19,965,800 15,000,000 King Street Funding Trust Discount Note, 3.179%, 2006/02/03 14,880,750 14,952,600 25,000,000 King Street Funding Trust Discount Note, 3.328%, 2006/02/17 24,805,500 24,888,000 12,000,000 King Street Funding Trust Discount Note, 3.411%, 2006/03/07 11,899,920 11,925,360 24,000,000 Merit Trust Senior Discount Note, 3.131%, 2006/01/18 23,812,080 23,958,960 8,800,000 Merit Trust Senior Discount Note, 3.151%, 2006/01/25 8,730,656 8,779,408 29,000,000 Merit Trust Senior Discount Note, 3.159%, 2006/01/27 28,770,900 28,926,920 5,100,000 Merit Trust Senior Discount Note, 3.418%, 2006/03/10 5,056,905 5,066,748 6,000,000 Merit Trust Senior Discount Note, 3.502%, 2006/03/23 5,948,640 5,953,200 5,000,000 Prime Trust Senior Discount Note, 3.129%, 2006/01/20 4,961,300 4,990,550 20,000,000 Prime Trust Senior Discount Note, 3.159%, 2006/01/27 19,842,000 19,949,600 40,000,000 Prime Trust Senior Discount Note, 3.361%, 2006/02/28 39,665,350 39,778,400 8,000,000 Prime Trust Senior Discount Note, 3.411%, 2006/03/07 7,933,280 7,950,240 33,300,000 Ridge Trust Series ’A’ Discount Note, 3.169%, 2006/02/01 33,038,928 33,201,099 48,000,000 Stars Trust Series ’A’ Discount Note, 3.120%, 2006/01/20 47,614,980 47,909,280 10,000,000 Stars Trust Series ’A’ Discount Note, 3.180%, 2006/02/01 9,922,200 9,970,300 15,000,000 Stars Trust Series ’A’ Discount Note, 3.421%, 2006/03/07 14,877,300 14,906,700 25,000,000 Summit Trust Discount Note, 3.169%, 2006/02/01 24,804,000 24,925,750 17,500,000 Summit Trust Series ’A’ Discount Note, 3.439%, 2006/03/13 17,351,250 17,380,825 29,100,000 Vision Trust Class ’A’ Discount Note, 3.510%, 2006/03/23 28,844,793 28,873,020 15,000,000 Zeus Receivables Trust Senior Discount Note, 3.151%, 2006/01/25 14,881,800 14,964,900 4,100,000 Zeus Receivables Trust Senior Discount Note, 3.159%, 2006/01/27 4,067,610 4,089,668 15,000,000 Zeus Receivables Trust Senior Discount Note, 3.361%, 2006/02/28 14,875,350 14,916,900 10,000,000 Zeus Receivables Trust Senior Discount Note, 3.500%, 2006/03/22 9,913,500 9,923,000 4,000,000 Zeus Receivables Trust Senior Discount Note, 3.502%, 2006/03/23 3,965,760 3,968,800 30,000,000 Bank of Nova Scotia Bankers’ Acceptance, 3.370%, 2006/02/28 29,755,500 29,830,200 16,700,000 Royal Bank of Canada Bankers’ Acceptance, 3.229%, 2006/02/10 16,563,728 16,635,037 12,150,000 Royal Bank of Canada Term Deposit, 3.250%, 2006/01/03 12,150,000 12,150,270 10,400,000 Bank of Montreal Bearer Deposit Note, 3.121%, 2006/01/17 10,319,712 10,382,840 30,000,000 Bank of Montreal Bearer Deposit Note, 3.448%, 2006/03/17 29,738,700 29,779,500 10,000,000 Bank of Nova Scotia Bearer Deposit Note, 3.119%, 2006/01/18 9,922,000 9,982,500 10,000,000 Bank of Nova Scotia Bearer Deposit Note, 3.460%, 2006/03/16 9,915,400 9,927,500 13,925,000 Bank of Nova Scotia Bearer Deposit Note, 3.666%, 2006/06/02 13,675,046 13,876,123 26,000,000 Toronto-Dominion Bank (The) Bearer Deposit Note, 2.680%, 2006/01/05 25,653,420 25,985,700 25,000,000 Toronto-Dominion Bank (The) Bearer Deposit Note, 3.448%, 2006/03/17 24,782,250 24,816,251 Total of Short-Term Investments (92.83%) 836,462,470 840,370,307 Total of Investments (99.84%) 899,936,619 903,868,385 Other Assets, less Liabilities (0.16%) 1,440,208 Total Net Assets (100.00%) 905,308,593 2 The accompanying notes are an integral part of these financial statements. Imperial Money Market Pool Statements of Net Assets Statements of Operations (in 000s, except per unit amounts) (in 000s, except per unit amounts) As at December 31, 2005 and 2004 (note 1) For the years ended December 31, 2005 and 2004 (note 1) 2005 2004 2005 2004 Assets Income Investments at current value (notes 2 and 3) $ 903,868 $ 763,520 Interest revenue $ 23,353 $ 14,869 Cash including foreign currency holdings, at current value — 4 Securities lending revenue 30 15 Accrued interest and dividends receivable 263 301 Receivable for units issued 1,794 1,339 23,383 14,884 Total Assets 905,925 765,164 Expenses (notes 5 and 8) Management fees 2,446 1,751 Liabilities Audit fees 15 20 Bank overdraft 11 — Custodial fees 74 85 Payable for units redeemed 518 2,446 Legal fees 15 3 Management fees payable 22 20 Regulatory fees 28 42 Other accrued expenses 65 54 Unitholder reporting costs 1,076 710 Distributions payable to unitholders — 28 Other expenses 29 29 Total Liabilities 616 2,548 3,683 2,640 Total Net Assets $ 905,309 $ 762,616 Expenses waived/absorbed by the Manager (2,610) (1,870) Net Asset Value per Unit (note 4) $ 10.01 $ 10.01 1,073 770 Net Investment Income (Loss) 22,310 14,114 Realized and Unrealized Gain (Loss) on Investments Net realized gain (loss) on sale of investments1 10 27 Increase (decrease) in unrealized appreciation (depreciation) of investments 1,278 808 Net Gain (Loss) on Investments 1,288 835 Increase (Decrease) in Net Assets from Operations $ 23,598 $ 14,949 Increase (Decrease) in Net Assets from Operations per Unit $ 0.26 $ 0.23 Statements of Changes in Net Assets 1Net Realized Gain (Loss) on Sale of Investments (in 000s, except per unit amounts) (excluding short-term investments) (in 000s) For the years ended December 31, 2005 and 2004 (note 1) 2005 2004 2005 2004 Cost of Investments Held at Beginning of Year $ 87,481 $ 30,175 Purchases 30,695 100,838 Increase (Decrease) in Net Assets from Operations $ 23,598 $ 14,949 118,176 131,013 Distributions Paid or Payable to Unitholders Cost of Investments Held at End of Year 63,474 87,481 From net investment income (23,593) (14,893) Cost of Investments Sold or Matured 54,702 43,532 (23,593) (14,893) Proceeds from sales or maturities 54,712 43,559 Changes Due to Unitholder Transactions Net Realized Gain (Loss) on Sale of Investments $ 10 $27 Amount received from the issuance of units 631,656 547,815 Amount received from reinvestment of distributions 23,156 14,765 Amount paid on redemptions of units (512,124) (363,997) 142,688 198,583 Increase (Decrease) in Net Assets for the Year 142,693 198,639 Net Assets at Beginning of Year 762,616 563,977 Net Assets at End of Year $ 905,309 $ 762,616 The accompanying notes are an integral part of these financial statements.