SKANDIA GLOBAL FUNDS PLC - Fidelity Investments

Skandia Global Funds plc
Annual Report and Audited Financial Statements for the year ended 31 December 2011
DIRECTORS’ REPORT
The Directors submit their report together with the audited financial statements for the year ended 31 December 2011.
Statement of Directors' Responsibilities
The Directors are responsible for preparing the Annual Report and Financial Statements in accordance with applicable law and
regulations.
Company law requires directors to prepare financial statements for each financial year. Under that law the Directors have elected to
prepare the Company‟s financial statements in accordance with Generally Accepted Accounting Practice in Ireland, comprising
applicable law and the accounting standards issued by the Accounting Standards Board and promulgated by the Institute of Chartered
Accountants in Ireland.
The Company‟s financial statements are required by law to give a true and fair view of the state of affairs of the Company and of its
profit or loss for that period.
In preparing each of the financial statements, the Directors are required to:
� select suitable accounting policies and then apply them consistently;
� make judgments and estimates that are reasonable and prudent; and
� prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Company will continue in
business.
The Directors are responsible for keeping proper books of account that disclose with reasonable accuracy at any time the financial
position of the Company and enable them to ensure that its financial statements comply with the Companies Acts, 1963 to 2009 and
the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011. They are also
responsible for safeguarding the assets of the Company. In this regard, they have entrusted the assets of the Company to a Custodian
for safe-keeping. They have general responsibility for taking such steps as are reasonably open to them to prevent and detect fraud
and other irregularities.
The Directors are also responsible for preparing a Directors‟ Report that complies with the requirements of the Companies Acts, 1963
to 2009.
Books of Account
The Directors are responsible for ensuring that proper books and accounting records, as outlined in Section 202 of the Companies Act,
1990, are kept by the Company. To achieve this, the Directors have appointed Citi Fund Services (Ireland) Limited, which reports to
the Board to ensure that the requirements of Section 202 of the Companies Act, 1990 are complied with. The books of account are
located at the offices of the Administrator as stated on page 7.
Directors
The Directors of the Company at 31 December 2011 were:
Nationality
Michelle Andrews English
Noel Ford Irish
Alain Keck French
Gerald Moloney (Non-Executive) Irish
Dirk Rathjen German
Jim Rotsman Swedish
Bronwyn Wright (Non-Executive) Irish
Directors' and Company Secretary's Interests in Shares and Contracts
Dirk Rathjen held 4,526 shares in the Company at 31 December 2011 (2010: 7,100 shares). All other Directors and the Company
secretary who held office at 31 December 2011 had no interest in the share capital of the Company (2010: Nil).
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