2007 Annual Report - Sun Life Financial
2007 Annual Report - Sun Life Financial
2007 Annual Report - Sun Life Financial
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The movements are summarized as follows:<br />
Bond Fund Balanced Fund Phil. Equity Fund<br />
<strong>2007</strong> 2006 <strong>2007</strong> 2006 <strong>2007</strong> 2006<br />
Philippine Peso Philippine Peso Philippine Peso Philippine Peso Philippine Peso Philippine Peso<br />
Balance at beginning of<br />
the year P4,287,068,899 P4,981,951,786 P3,073,368,607 P 577,812,270 P880,132,644 P271,870,718<br />
Net purchases (disposals)<br />
Amortization of discounts<br />
(2,168,088,544) (864,328,200) 6,780,174,044 2,218,140,304 2,161,297,158 477,579,377<br />
(premium)<br />
Unrealized fair value<br />
(29,626,308) (60,090,228) (29,207,831) (3,448,087) 57,336 49,787<br />
gains (Loss) (254,102,728) 229,535,541 188,009,384 280,864,120 53,955,868 130,632,762<br />
Balance at end of the year P1,835,251,319 P4,287,068,899 P10,012,344,204 P3,073,368,607 P3,095,443,006 P880,132,644<br />
Dollar Advantage Fund Money Market Fund<br />
<strong>2007</strong> 2006 <strong>2007</strong> 2006<br />
US Dollar US Dollar Philippine Peso Philippine Peso<br />
Balance at beginning of the year $21,797,758 $ 7,437,227 P186,960,000 P60,501,845<br />
Net purchases (disposals) 5,565,582 13,301,400 94,970,000 126,458,155<br />
Amortization of discounts (premium) (179,163) (60,734) - -<br />
Unrealized fair value gains (Loss) 81,032 1,119,865 - -<br />
Balance at end of the year $27,265,209 $ 21,797,758 P281,930,000 P186,960,000<br />
Dollar Abundance Fund GS Fund<br />
<strong>2007</strong> 2006 <strong>2007</strong> 2006<br />
US Dollar US Dollar Philippine Peso Philippine Peso<br />
Balance at beginning of the year $3,048,864 $1,277,914 P91,028,928 P52,620,000<br />
Net purchases (disposals) (114,331) 1,614,450 (9,121,463) 33,123,670<br />
Amortization of discounts (premium) (11,209) (5,429) (769,234) (407,761)<br />
Unrealized fair value gains (Loss) (50,752) 161,929 859,561 5,693,019<br />
Balance at end of the year $2,872,572 $3,048,864 P81,997,792 P91,028,928<br />
The fair values of investments in listed equity securities and treasury notes in <strong>2007</strong> and 2006, respectively,<br />
are based on quoted market prices, which are usually, bid prices. However, for listed equity<br />
securities, closing price are used since it is the more appropriate valuation used by the players of<br />
the mutual funds industry. For the purpose of following the industry standard, closing prices was<br />
adopted in <strong>2007</strong> and the comparative statements of the 2006. Below is the reconciliation of valuation<br />
between closing and bid prices of the Balanced and Equity Funds:<br />
Balanced Fund Phil. Equity Fund<br />
<strong>2007</strong> 2006 <strong>2007</strong> 2006<br />
Investments in listed equity securities (closing price) P6,381,999,182 P1,545,334,095 P2,624,871,998 P628,060,112<br />
Adjustment to bid prices (73,977,039) (15,742,990) (31,859,633) (6,226,291)<br />
Investments in listed equity securities (bid price) P6,308,022,143 P1,529,591,105 P2,593,012,365 P621,833,821<br />
<strong>2007</strong> <strong>Annual</strong> <strong>Report</strong> 43