Y20859 310404 GE GreatLink ins.indd - Great Eastern Life

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NOTES TO THE ACCOUNTSNotes to the Accounts1 GENERALThe GreatLink Funds comprise:Direct FundsGreatLink Cash FundGreatLink ASEAN Growth FundGreatLink Enhancer FundGreatLink Global Supreme FundGreatLink Pan Asia FundGreatLink Global Equity FundGreatLink Global Optimum FundGreatLink Global Technology FundGreatLink Global Bond FundGreatLink Far East Ex Japan Equities FundGreatLink Singapore Equities FundGreatLink Global Real Estate Securities FundGreatLink Choice (Aug 2013) FundGreatLink Choice (Dec 2013) FundGreatLink China Growth FundFeeder FundsGreatLink European Equity FundGreatLink Global Growth Trends PortfolioGreatLink Global Opportunities FundGreatLink Global Equity Alpha FundGreatLink Stable Bond FundGreatLink Lion Japan Growth FundGreatLink Lion India FundGreatLink Lion Global Flexi FundGreatLink Lion Asian Balanced FundGreatLink Lion Vietnam FundGreatLink Global Emerging Markets Equity Fund #Fund of Funds (LifeStyle Portfolios) ^GreatLink LifeStyle Secure PortfolioGreatLink LifeStyle Steady PortfolioGreatLink LifeStyle Balanced PortfolioGreatLink LifeStyle Progressive PortfolioGreatLink LifeStyle Dynamic Portfolio#The financial statement of GreatLink Global Emerging Markets Fund cover the period from 23 January 2013 (date ofinception) to 30 June 2013.^ The LifeStyle Portfolios invest in existing GreatLink Funds, namely GreatLink Global Bond Fund, GreatLink Global OpportunitiesFund, GreatLink Global Equity Alpha Fund, GreatLink ASEAN Growth Fund, GreatLink Enhancer Fund and GreatLink StableBond Fund.2 SIGNIFICANT ACCOUNTING POLICIESa. Basis of accountingThe financial statements are expressed in Singapore dollars, and are prepared in accordance with the historical costconvention, except for investments and derivatives which are carried at fair value.b. Recognition of income and expensesDividend income is recognised when the shareholders’ right to receive payment is established. Interest income is recognisedusing the effective interest method.Expenses are recognised on an accrual basis.122
NOTES TO THE ACCOUNTSc. InvestmentsAll purchases of investments are recognised on their trade dates, i.e., the date the commitment exists to purchase theinvestments. The investments are initially recorded at fair value (or cost representing fair value on trade date) which wouldinclude transaction costs directly attributable to the acquisition of the investments. After initial recognition, the unrealisedgains or losses on remeasurement to fair value are taken to the capital account. Fair value is determined by using open marketvaluation at the year-end date. The closing price has been adopted for all investments except for quoted equity investments.For equity investments traded on exchanges, fair value is derived from the last traded price on the respective exchange.Certain investments have been valued using valuation techniques based on assumptions that are supported by pricesfrom observable current market transactions. The valuation of these investments have either been provided by brokers orcounterparties or valued using internal models.d. Realised gains/losses from sale of investmentsAll sales of investments are recognised on their trade dates i.e., the date the fund commits to sell the investments.Realised gains/losses from sale of investments are taken to the Capital Account.e. Foreign currency transactionsForeign currency transactions are translated into Singapore dollars at exchange rates prevailing at the transaction dates andforeign currency monetary assets and liabilities are translated at the approximate rates ruling at year end. Differences onexchange are included in the Capital Account.f. Derivative financial instrumentsAll derivatives including embedded derivatives are carried at fair value. All fair value changes on derivatives are taken to theCapital Account. The closing price has been adopted for the valuation of derivatives.3 DERIVATIVESThe GreatLink Funds enter into derivative contracts for the purposes of hedging foreign currency and interest risk exposures,and efficient portfolio management. The derivative contracts traded include foreign exchange forward contracts and futures.Notional AmountFair ValueAssetFair Value(Liability)S$ S$ S$Forward foreign exchange contractsGreatLink Cash Fund 16,782,614 10,879 (200,434)GreatLink ASEAN Growth Fund 15,757,623 - (107,951)GreatLink Global Supreme Fund 144,699,089 1,772,997 (1,424,529)GreatLink Global Optimum Fund 3,276,218 50,679 (38,624)GreatLink Global Bond Fund 465,389,799 1,384,412 (2,379,012)GreatLink Global Real Estate Securities Fund 2,235 11 -Futures purchasedGreatLink Global Supreme Fund 43 124,614 (168,825)GreatLink Global Bond Fund 43 399,885 (198,980)GreatLink Global Equity Fund 9 - (12,987)Spot foreign exchange contractsGreatLink ASEAN Growth Fund 42,323,283 - (462,415)GreatLink Global Supreme Fund 165,149 298 (298)GreatLink Pan Asia Fund 62,464 19 -GreatLink Global Bond Fund 5,544 19 -GreatLink Far East Ex Japan Equities Fund 300,796 - (91)GreatLink Global Real Estate Securities Fund 4,439 6 -GreatLink China Growth Fund 114,462 35 -Rights purchasedGreatLink Global Supreme Fund 307 614 -4 MANAGEMENT FEESManagement fees are payable to The Great Eastern Life Assurance Company Limited and its related company, Lion GlobalInvestors Limited.5 DISTRIBUTION TO POLICY HOLDERSThere are no distribution of dividend to policyholders for the period ended 30 June 2013.Notes to the Accounts123
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CEO’S MESSAGEDear Valued Policyho
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INVESTMENT OUTLOOKGiven that China
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ANNOUNCEMENTGreatLink Global Emergi
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GREATLINK LIFESTYLE PORTFOLIOS repo
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GREATLINK GLOBAL SUPREME FUND repor
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GREATLINK LION GLOBAL FLEXI FUND re
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GREATLINK GLOBAL EQUITY FUND report
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GREATLINK GLOBAL GROWTH TRENDS PORT
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GREATLINK EUROPEAN EQUITY FUND repo
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GREATLINK GLOBAL REAL ESTATE SECURI
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GREATLINK ENHANCER FUND report as a
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GREATLINK ASEAN GROWTH FUND report
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GREATLINK CHINA GROWTH FUND^ report
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GREATLINK SINGAPORE EQUITIES FUND r
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GREATLINK CASH FUND report as at 30
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GREATLINK GLOBAL BOND FUND report a
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OthersGREATLINK CHOICE (AUG 2013) F
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GREATLINK CHOICE (AUG 2013) FUND re
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OthersGREATLINK CHOICE (AUG 2013) F
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OthersGREATLINK CHOICE (DEC 2013) F
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GREATLINK CHOICE (DEC 2013) FUND re
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OthersGREATLINK CHOICE (DEC 2013) F
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GREATLINK LIFESTYLE PROGRESSIVE POR
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Funds InformationGREATLINK LIFESTYL
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Funds InformationGREATLINK CASH FUN
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Funds InformationGREATLINK ASEAN GR
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Funds InformationGREATLINK ENHANCER
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Funds InformationGREATLINK GLOBAL S
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Funds InformationGREATLINK PAN ASIA
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Funds InformationGREATLINK GLOBAL E
Page 73 and 74: Funds InformationGREATLINK GLOBAL O
Page 75 and 76: Funds InformationGREATLINK GLOBAL T
Page 77 and 78: GREATLINK GLOBAL BOND FUND report a
Page 79 and 80: Funds InformationGREATLINK FAR EAST
Page 81 and 82: Funds InformationGREATLINK SINGAPOR
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Page 85 and 86: Funds InformationGREATLINK CHINA GR
Page 87 and 88: GREATLINK EUROPEAN EQUITY FUND repo
Page 89 and 90: GREATLINK GLOBAL GROWTH TRENDS PORT
Page 91 and 92: GREATLINK GLOBAL OPPORTUNITIES FUND
Page 93 and 94: GREATLINK GLOBAL EQUITY ALPHA FUND
Page 95 and 96: GREATLINK STABLE BOND FUND report a
Page 97 and 98: Funds InformationGREATLINK LION JAP
Page 99 and 100: Funds InformationGREATLINK LION IND
Page 101 and 102: GREATLINK LION GLOBAL FLEXI FUND re
Page 103 and 104: GREATLINK LION ASIAN BALANCED FUND
Page 105 and 106: GREATLINK LION ASIAN BALANCED FUND
Page 107 and 108: Funds InformationGREATLINK LION VIE
Page 109 and 110: Funds InformationGREATLINK GLOBAL E
Page 111 and 112: GREATLINK CHOICE (DEC 2013) FUND re
Page 113 and 114: SOFT DOLLAR COMMISSIONS report as a
Page 115 and 116: CAPITAL ACCOUNT (unaudited) for the
Page 117 and 118: CAPITAL ACCOUNT (unaudited) for the
Page 119 and 120: STATEMENT OF ASSETS AND LIABILITIES
Page 121 and 122: STATEMENT OF ASSETS AND LIABILITIES
Page 123: STATEMENT OF ASSETS AND LIABILITIES
Page 127 and 128: GREATLINK FUNDS SUMMARY as at 30 Ju
Page 129: LET’S TALK ABOUT LIFE.GREAT IS HA
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Y20859 310404 GE GreatLink ins.indd - Great Eastern Life

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