# Statement of Comprehensive Income
### Notes	OAKS Emerging and Frontier Opportunities Fund
|  |  | 31/12/2019 € | 31/12/2018 € |
| --- | --- | --- | --- |
| Income: Dividend income | 2.6 | 7,746,028 | 6,247,142 |
| Interest income | 2.6 | 1,198 | 215,266 |
| Bank interest income | 2.6 | 3,856 | 55 |
|  |  | 7,751,082 | 6,462,463 |
| Net realised gain/(loss) on: - Investment transactions | 2.4 | 24,013,301 | (7,304,143) |
| - Foreign currency transactions | 2.8 | (1,850,260) | (1,063,847) |
| Total realised gain/(loss) |  | 22,163,041 | (8,367,990) |
| Net movement in unrealised appreciation/(depreciation) on: - Investment transactions | 2.4 | 9,358,778 | (12,849,073) |
| - Foreign currency transactions | 2.4, 2.8 | (202,525) | (2,765,866) |
| Net movement in unrealised appreciation/(depreciation) on investments in securities and foreign currency transactions |  | 9,156,253 | (15,614,939) |
| Total Income/(Loss) |  | 39,070,376 | (17,520,466) |
| Expenses: Investment Manager: - Annual | 7.1 | (2,794,765) | (3,180,994) |
| - Performance | 7.1 | (884,471) | (102,669) |
| Transaction costs | 2.13 | (587,282) | (931,470) |
| Directors' fees and expenses | 7.4 | (88,659) | (81,467) |
| Audit fees | 7.5 | (25,390) | (29,010) |
| Administrator fees and expenses | 7.3 | (140,936) | (137,797) |
| Depositary fees | 7.2 | (470,182) | (385,141) |
| Statutory, professional and legal expenses |  | (161,748) | (163,611) |
| Other expenses |  | (289,572) | (68,349) |
| Total expenses before taxation |  | (5,443,005) | (5,080,508) |
| Net Income/(Expenses) from operations before taxation |  | 33,627,371 | (22,600,974) |
| Finance costs: Dividend expense |  | (1,584,530) | (1,583,182) |
| Interest expense |  | (1,846,599) | (1,890,945) |
| Bank interest expense |  | (84,342) | (139,886) |
| Total finance costs |  | (3,515,471) | (3,614,013) |
| Taxation Tax | 8 | (342,417) | (337,495) |
| Total taxation |  | (342,417) | (337,495) |
| Changes in Net Assets Attributable to Holders of Redeemable Participating Shares |  | 29,769,483 | (26,552,482) |
| Changes in net asset value have arisen solely from continuing operations. |  |  |  |

Translation (ENDE, 2019-12-31):
# Gesamtergebnisrechnung
### Erl.	OAKS Emerging and Frontier Opportunities Fund
|  |  | 31/12/2019 € | 31/12/2018 € |
| --- | --- | --- | --- |
| Erträge |  |  |  |
| Dividendenerträge | 2.6 | 7.746.028 | 6.247.142 |
| Zinserträge | 2.6 | 1.198 | 215.266 |
| Bankzinsertrag | 2.6 | 3.856 | 55 |
|  |  | 7.751.082 | 6.462.463 |
| Realisierter Nettogewinn/(-verlust) aus: - Anlagegeschäften | 2.4 | 24.013.301 | (7.304.143) |
| - Devisengeschäften | 2.8 | (1.850.260) | (1.063.847) |
| Summe des realisierten Gewinns/(Verlusts) |  | 22.163.041 | (8.367.990) |
| Nettoveränderung des nicht realisierten Wertzuwachses |  |  |  |
| /(Wertverlusts) aus: - Anlagegeschäften | 2.4 | 9.358.778 | (12.849.073) |
| - Devisengeschäften | 2.4, 2.8 | (202.525) | (2.765.866) |
| Nettoveränderung des nicht realisierten Wertzuwachses/(Wertverlustes) aus Wertpapieranlagen und |  |  |  |
| Devisengeschäften |  | 9.156.253 | (15.614.939) |
| Summe der Erträge/(Verluste) |  | 39.070.376 | (17.520.466) |
| Aufwendungen Anlageverwalter: |  |  |  |
| - Jahresgebühr | 7.1 | (2.794.765) | (3.180.994) |
| - Performancegebühr | 7.1 | (884.471) | (102.669) |
| Transaktionsgebühren | 2.13 | (587.282) | (931.470) |
| Honorare und Spesen der Verwaltungsratsmitglieder | 7.4 | (88.659) | (81.467) |
| Prüfgebühren | 7.5 | (25.390) | (29.010) |
| Gebühren und Spesen der Verwaltungsstelle | 7.3 | (140.936) | (137.797) |
| Verwahrstellengebühren | 7.2 | (470.182) | (385.141) |
| Gesetzliche Abgaben, Honorare und Rechtskosten |  | (161.748) | (163.611) |
| Sonstige Aufwendungen |  | (289.572) | (68.349) |
| Summe der Aufwendungen vor Steuern |  | (5.443.005) | (5.080.508) |
| Nettoertrag/(-aufwand) aus Geschäftstätigkeit vor Steuern |  | 33.627.371 | (22.600.974) |
| Finanzierungskosten Dividendenaufwand |  | (1.584.530) | (1.583.182) |
| Zinsaufwand |  | (1.846.599) | (1.890.945) |
| Bankzinsaufwand |  | (84.342) | (139.886) |
| Summe der Finanzierungskosten |  | (3.515.471) | (3.614.013) |
| Steuern |  |  |  |
| Steueraufwand | 8 | (342.417) | (337.495) |
| Total Steuern |  | (342.417) | (337.495) |
| Veränderung des Nettovermögens von Inhabern rückkaufbarer |  |  |  |
| gewinnberechtigter Anteile |  | 29.769.483 | (26.552.482) |


### Veränderungen des Nettoinventarwertes resultierten ausschließlich aus der laufenden Geschäftstätigkeit