Genesis Emerging Markets Fund (GSS) 2013年年度报告「LSE」.pdf

1、ANNUALFINANCIALREPORTFOR THE YEAR ENDED 30thJUNE 2013EMERGING MARKETS FUND LIMITED17039 Genesis Emerging Markets Annual Report:Layout 126/09/201312:50Page COV117039 Genesis Emerging Markets Annual Report:Layout 126/09/201312:50Page COV2GENESISEMERGINGMARKETSFUNDLIMITED1PageINTRODUCTION.2DIRECTORS.3H

2、IGHLIGHTS.5MANAGEMENTREPORTCHAIRMANSSTATEMENT.7DIRECTORSREPORT.10MANAGERSREVIEW.19TWENTYLARGESTHOLDINGS.21COUNTRYEXPOSURE OF THEPORTFOLIO.24SECTOREXPOSURE OF THEPORTFOLIO.25THEPORTFOLIO.26INDEPENDENTAUDITORSREPORT.32CONSOLIDATEDSTATEMENT OFFINANCIALPOSITION.34CONSOLIDATEDSTATEMENT OFCOMPREHENSIVEINC

3、OME.35CONSOLIDATEDSTATEMENT OFCHANGES INEQUITY.36CONSOLIDATEDSTATEMENT OFCASHFLOWS.37NOTES TO THECONSOLIDATEDFINANCIALSTATEMENTS.38PERFORMANCERECORD.63ADMINISTRATION.65NOTICE OFMEETING.66NOTE:All reference to US dollars or$throughout this report are to the United States currency.17039 Genesis Emergi

4、ng Markets Annual Report:Layout 126/09/201312:50Page 1OBJECTIVETo provide shareholders with a broadly diversified means of investing in developingcountries and immature stock markets,and thus to provide access to superior returnsoffered by high rates of economic and corporate growth,whilst limiting

5、individualcountry risk.STRUCTUREThe Fund is a Guernsey based Closed-Ended Investment Scheme with the ability to issueadditional shares.The Funds shares are listed on the official London Stock Exchangeand are included in the FTSE 250.The number of Participating Preference Sharesoutstanding is 134,963

6、,060 as at 30thJune 2013(30thJune 2012:135,863,060).MANAGERGenesis Asset Managers,LLP(Manager or Genesis).INVESTMENT APPROACHThe investment approach is to identify companies which are able to take advantage ofgrowth opportunities in emerging markets for the benefit of shareholders,and invest inthem