BALTI KASVUFOND

PROFIT AND LOSS ACCOUNT

01.01-30.06.99

 

in EEK

                                          30.06.1999

 

1.  Net investment income                 -7,932,981

1.1.From shares and units                 -8,549,763

1.1.Gain on sales(-loss)                  -4,326,163

1.1.Unrealized gain (-loss)               -4,265,414

1.1.Dividends                                 41,814

 

1.2.From debt instruments                    355,847

1.2.Gain on sales(-loss)                     217,210

1.2.Unrealized gain (-loss)                  -51,637

1.2.Interest income                          190,274

 

1.3.From money market instruments            212,728

1.3.Gain on sales(-loss)                     165,229

1.3.Unrealized gain (-loss)                   47,499

1.3.Interest income

 

1.4.From deposits                             48,207

 

2.  Other income                               2,959

2.1.Foreign exchange gain                      2,959

2.2.Other financial income                         0

 

TOTAL INCOME                              -7,930,022

 

 

3.  Operating expenses                       262,268

3.1.Fund management fees                     129,709

3.2.Depository fees                           19,868

3.3.Transaction fees                           9,368

3.4.Bonuses                                  103,323

3.4.Other operating expenses                  10,691

    Commision on repurchasing of fund units   10,691

    Other operating expenses                       0

 

4.  Other expenses                             9,060

4.1.Interest expenses                              0

4.3.Foreign exchange loss                      9,060

4.4.Other financial expenses                       0

 

TOTAL EXPENSES                               282,019

 

5.  Net result for the year               -8,212,041

incl. unrealized loss as of 31.12.98     -10,763,835

incl. actual net profit for 1999           2,551,794

 

* 1999 profit and loss account also includes 10 763 835,04 EEK

of unrealized loss on securities (as of 31.12.1998)

which is not accounted into the fund's net loss for year 1998,

but is reflected in the fund's net profit figure for 1999

 

 

Mihkel Õim

Deputy Head of Fund Management Company

 

Kärt Palm

Chief Accountant