SHERBURNE HEATLEY TRUST
INVESTMENT REPORT AS AT 31st DECEMBER 2022
MANAGED BY RUADHRI DUNCAN AND HELENA WAKEFIELD ADMINISTERED BY ALEXANDER RIACH
SARASIN & PARTNERS LLP
Juxon House 100 St. Paul's Churchyard London EC4M 8BU T +44(0)20 7038 7000 sarasinandpartners.com Sarasin & Partners LLP is authorised and regulated by the Financial Conduct Authority.
CONTENTS
| Section | Page |
|---|---|
| Summary | 1 |
| Valuation | 2 |
| Cash Reconciliation | 3 |
| Cash Transactions | 4 |
| Schedule of Transactions | 5 |
| Security Transaction Detail | 6 |
| Custody Statement | 7 |
| Disclaimers | 8 |
| Glossary of Terms | 10 |
Where printed by Sarasin & Partners, this document has been printed on FSC certified sustainably sourced or 100% recycled paper
Sherburne Heatley Trust
SUMMARY
Portfolio Value as at 31st December 2022: £680,163
| Capital | Estimated Income | Estimated Income | ||
|---|---|---|---|---|
| Asset Allocation | £ | % | £ | % |
| Fixed Income | 153,653 | 22.6 | ||
| Equities | 384,690 | 56.6 | ||
| Property | 23,953 | 3.5 | ||
| Alternative Investments | 91,595 | 13.5 | ||
| Liquid Assets | 26,272 | 3.9 | ||
| Total | 680,163 | 100.0 | 21,021 | 3.1 |
| Geographic Allocation - Portfolio | Currency | Allocation - Portfolio |
The report 'looks-through' to the underlying investments within the Sarasin funds in order to show the portfolio's overall allocation.
Where a portfolio holds Sarasin Unit Trusts or OEIC Funds, we use a close of business unit price to enable more accurate performance comparison with the portfolio benchmark.
1
Sherburne Heatley Trust
VALUATION
| Holding Book Cost Price £ |
31-Dec-22 Value as at £ £ % £ % Loss Profit/ Portfolio Income Estimated Yield Est. % of |
|---|---|
| MULTI ASSETS 465,719.27 SARASIN ENDOWMENTS FUND CLASS A INC 412,150 GBP 1.12 167,989.85 SARASIN INCOME AND RESERVES FUND CLASS A INC 176,592 GBP 0.95 Total for MULTI ASSETS 588,742 LIQUID ASSETS Cash 4 Sterling Income Account 4 Total for Cash 4 Total for LIQUID ASSETS 4 Portfolio Totals 588,746 |
521,315 109,165 76.6 15,321 2.9 158,845 (17,747) 23.4 5,699 3.6 |
| 680,159 91,418 100.0 21,021 3.1 |
|
| 4 0.0 0 3.3 |
|
| 4 0.0 0 3.2 |
|
| 4 0.0 0 3.2 |
|
| 680,163 91,418 100.00 21,021 3.1 |
Prices are supplied by Bloomberg and are based on the Bid price as at the close of business on the valuation date. For securities not priced by Bloomberg, other sources may be used. Exchange rates are obtained from Bloomberg.
2
Sherburne Heatley Trust
CASH RECONCILIATION
| £ £ £ |
£ £ £ |
|
|---|---|---|
| Total cash brought forward as at 01-Jan-22 Add: Investment income Interest Tax reclaims Capital additions Miscellaneous items Subtract: Money paid away Management fee Custodian charges Miscellaneous items Net cash available for investment Investment: Purchase and call payments Sales and redemptions Derivatives Net investment/disinvestment Effect of exchange rate movement Total cash carried forward as at 31-Dec-22 |
0.06 21,034.49 5.43 0.00 0.00 0.00 21,039.92 (21,036.19) 0.00 0.00 0.00 (21,036.19) 3.73 3.79 0.00 0.00 0.00 0.00 0.00 3.79 |
|
| 3.79 0.00 0.00 |
||
| 3.79 |
3
Sherburne Heatley Trust
CASH TRANSACTIONS
Cash Transactions between 01-Jan-22 and 31-Dec-22
Investment Income Received
| Cash Transactions between 01-Jan-22 and 31-Dec-22 Investment Income Received |
Cash Transactions between 01-Jan-22 and 31-Dec-22 Investment Income Received |
|---|---|
| Date Description Amount £ |
|
| Sterling Income Account 25-Feb-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,912.04 25-Feb-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,371.64 25-May-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,586.04 25-May-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,331.32 25-Aug-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,603.80 01-Sep-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,912.04 25-Nov-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,912.04 25-Nov-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,405.57 Total 21,034.49 Interest Date Description Gross Tax Amount £ |
3,912.04 1,371.64 3,586.04 1,331.32 1,603.80 3,912.04 3,912.04 1,405.57 |
| Sterling Income Account 01-Mar-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 0.24 GBP 0.00 GBP 0.24 01-Jun-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 0.90 GBP 0.00 GBP 0.90 01-Sep-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 0.50 GBP 0.00 GBP 0.50 01-Dec-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 3.79 GBP 0.00 GBP 3.79 Total 5.43 Money Paid Away Date Description Amount £ |
0.24 0.90 0.50 3.79 |
| Sterling Income Account 05-Jan-22 ACCUMULATED INCOME 02-Mar-22 ACCUMULATED INCOME 04-Apr-22 ACCUMULATED INCOME 01-Jun-22 ACCUMULATED INCOME 04-Jul-22 ACCUMULATED INCOME 02-Sep-22 ACCUMULATED INCOME 08-Sep-22 ACCUMULATED INCOME 04-Oct-22 ACCUMULATED INCOME 02-Dec-22 ACCUMULATED INCOME Total |
(0.06) (5,283.68) (0.24) (4,917.36) (0.90) (1,603.80) (3,912.04) (0.50) (5,317.61) |
| (21,036.19) |
4
Sherburne Heatley Trust
SCHEDULE OF TRANSACTIONS
Transactions between 01-Jan-22 and 31-Dec-22
There were no transactions undertaken for this portfolio during the period.
5
Sherburne Heatley Trust
SECURITY TRANSACTION DETAIL
There are no transactions for the reporting period
6
Sherburne Heatley Trust
CUSTODY STATEMENT
Holdings as at 31-Dec-22
| Holding Security 465,719.27 SARASIN ENDOWMENTS FUND CLASS A INC |
Holding Security |
|---|---|
| 167,989.85 SARASIN INCOME AND RESERVES FUND CLASS A INC |
We confirm that the investments listed above were held on your behalf to the order of Sarasin & Partners LLP Clients' Account by the London Branch of The Bank of New York Mellon, either in the name of their nominee company or in safe custody or to their order by their overseas agents. This statement has been prepared on a trade date basis and therefore includes transactions which were effected but remain unsettled at the date of this report.
7
Sherburne Heatley Trust
DISCLAIMERS
MSCI
The MSCI information may only be used for your internal use, may not be reproduced or re disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication of guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an "as is" basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the "MSCI Parties") expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)
Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI's express written consent.
The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. ("S&P") and is licensed for use by Sarasin & Partners LLP. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard of classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability, and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.
The blended returns are calculated by Sarasin & Partners LLP using end of day index level values licensed from MSCI ("MSCI Data”). For the avoidance of doubt, MSCI is not the benchmark "administrator" for, or a "contributor", "submitter" or "supervised contributor" to, the blended returns, and the MSCI Data is not considered a "contribution" or "submission " in relation to the blended returns, as those terms may be defined in any rules, laws, regulations, legislation or international standards. MSCI Data is provided "ASIS" without warranty or liability and no copying or distribution is permitted. MSCI does not make any representation regarding the advisability of any investment or strategy and does not sponsor, promote, issue, sell or otherwise recommend or endorse any investment or strategy, including any financial products or strategies based on, tracking or otherwise utilizing any MSCI Data, models, analytics or other materials or information.
STOXX
DBAG is a registered trademark of Deutsche Börse AG
DAXX is a registered trademark of Deutsche Börse AG
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Sherburne Heatley Trust
DISCLAIMERS
ICE Bank of America Merrill Lynch (BofAML)
Source ICE Data Indices, LLC (“ICE Data”), is used with permission. ICE Data, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE Data, its affiliates nor their respective third party providers shall be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and your use is at your own risk. ICE Data, its affiliates and their respective third party suppliers do not sponsor, endorse, or recommend Sarasin & Partners LLP or any of its products or services.
Asset Risk Consultants
ARC Private Client Indices (“PCI”) and Charity indices are based on historical information and past performance is not indicative of future performance. PCI are computed using a complex calculation and the results are provided for information purposes only and are not necessarily an indicator of suitability for your specific investment or other requirements. ARC does not guarantee the performance of any investment or portfolio or the return of an investor’s capital or any specific rate of return. ARC accepts no liability for any investment decision made on the basis of the information contained in this report. You should always complete your own analysis and/or seek appropriate professional advice before entering into an agreement with any PCI Data Contributor. The content is the property of ARC or its licensors and is protected by copyright and other intellectual property laws. Use of the information herein is governed by strict Conditions of Use as detailed on www.suggestus.com.
IMPORTANT NOTICE
This notice is being given in accordance with Regulation 10 of the U.K. International Tax Compliance Regulations 2015 (the Regulations)
Notification to Account Holders of International Disclosure Requirements
The U.K. government has issued regulations giving effect to various international agreements allowing it to exchange account information provided by U.K. financial institutions to other jurisdictions. The new regulations grant HM Revenue and Customs ( HMRC ) these powers and Sarasin & Partners LLP ( Sarasin ) must disclose information about its clients’ accounts. Under these Regulations Sarasin is required to make you aware that if for the purposes of the Regulations, you are classified as a ‘Reportable Person’ and as owning a ‘Reportable Account’ certain financial information about you as specified in E.U. directives and U.S. global tax legislation will be reported by Sarasin to HMRC on an on-going basis. The information HMRC collects may be transferred to any competent authority or governments of other jurisdictions in accordance with relevant reciprocal exchange of information intergovernmental agreements.
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Sherburne Heatley Trust
GLOSSARY OF TERMS
| Description | |
|---|---|
| General | |
| Acronyms | AGR - Annualised Growth Rate |
| bp - Basis Point (100th of a Percent) | |
| ISA - Individual Savings Account | |
| FRN - Floating Rate Note | |
| MSCI - Morgan Stanley Capital International Inc | |
| LIBOR - London Inter Bank Offered Rate | |
| P/L - Profit/Loss | |
| RPI - Retail Price Index (UK) | |
| S & P - Standard and Poor's | |
| YTD - Year to Date | |
| Bloomberg | A source of investment and statistical data, supplied to us electronically. |
| Look-through Reporting | Where appropriate, we "look-through" the investments that you have in Sarasin funds and |
| consolidate these holdings with the portfolio's direct holdings. The result is shown in the | |
| Consolidated Valuation, within the Valuation and Accounting Statements section, and all of the | |
| analysis throughout the report uses this consolidated position, unless stated. | |
| Summary | |
| The summary shows the portfolio's key statistics. The asset allocation breaks the portfolio | |
| down by value into the major asset classes. This is followed by the estimated annual income | |
| from each category together with the yield. This is the income that the current portfolio would | |
| have produced over the last twelve months and it does not take into account any future | |
| changes to the asset allocation or the level of dividends or interest rates. The pie charts shows | |
| the portfolio's allocation to each of the major currencies or geographical regions. The | |
| performance is summarised at the bottom, using selected time periods, and this is followed by | |
| the portfolio’s benchmark return. Where a long-term target return has been agreed and the | |
| time horizon completed we will show for the latest rolling period the returns of both the portfolio | |
| and the target return. | |
| Valuation | |
| This section contains the valuation by holding and separates, where applicable, holdings held | |
| within the various individual portfolios which constitute your overall investment mandate. The | |
| holdings are expressed by Book Cost, Price, Value, the notional Profit or Loss and projected | |
| Gross Income in the base currency and the Gross Yield. | |
| Accrued Interest | Interest already earned but not yet due and payable. |
| Book Cost | The total cost of the holding includes brokerage, taxation and any other charges. If a holding |
| has been reduced, the residual book cost reflects the average cost of all previous purchases. | |
| Profit/Loss | The difference between the present market value and the Book Cost (see above). Please note |
| that where the holding being sold has been accumulated through two or more separate | |
| purchases, the profit or loss shown here may not be an accurate figure for tax purposes. | |
| % of Portfolio | The value of the holding expressed as a percentage of the entire portfolio. |
| Estimated Gross Income | This is the gross income that the holding would have produced over the last twelve months. It |
| does not take into account any changes to the asset allocation or the level of dividends. |
10
Sherburne Heatley Trust
GLOSSARY OF TERMS
Cash Reconciliation
This section reconciles the movements through the portfolio's cash account(s) for the reporting period. A summary Statement is followed by detailed listings of transactions for Investment Income, Interest, and Tax Reclaims, Capital Movements and any miscellaneous items deducted from this are any Monies paid away including management fees and custodian charges, where applicable. This is followed by the total of all Purchases (a negative sum), the total proceeds of any Sales and Redemptions.
Effect of exchange rate The cash reconciliation shows the movement in your total cash balances exchanged into the movement base currency of your portfolio, our system will exchange your transactions and cash balances at the rate used at the beginning of the period and compare this with the rate used at the end of the period.
Cash Transactions
Shows each portfolio's cash transactions, in date order, for income and capital cash.
Schedule of Transactions
Movements within the portfolio for the period including: Purchases, Sales, Capital Events and Transfers IN and OUT. The Realised Profit or Loss is the difference between the book cost of the securities sold and the proceeds.
Capital Events Lists the holdings that underwent a change of capital structure during the period.
Transaction Summary Summarises the number and overall value of all of the transactions and cash movements, including capital events, within each portfolio.
Custody Statement
Lists the holdings in each portfolio that are held on your behalf to the order of Sarasin & Partners Clients' Account and/or held under your own name on the register at Northern Trust Global Services PLC.
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Sherburne Heatley Trust
IMPORTANT INFORMATION
Please note this is a review of existing investments and is intended for the recipient only.
This document has been issued by Sarasin & Partners LLP which is a limited liability partnership registered in England and Wales with registered number OC329859 and is authorised and regulated by the UK Financial Conduct Authority. It has been prepared solely for information purposes and is not a solicitation, or an offer to buy or sell any security. The information on which the document is based has been obtained from sources that we believe to be reliable, and in good faith, but we have not independently verified such information and we make no representation or warranty, express or implied, as to their accuracy. All expressions of opinion are subject to change without notice.
Please note that the prices of shares and the income from them can fall as well as rise and you may not get back the amount originally invested. This can be as a result of market movements and also of variations in the exchange rates between currencies. Past performance is not a guide to future returns and may not be repeated.
Where Sarasin & Partners LLP is not your appointed custodian this information should not be relied on as an official document for tax reporting purposes. It may supplement but may not replace the account statement issued by the custodian of your assets, which provides an official valuation of assets held in your account, and may also contain additional notices, disclosures, and other important information.
Neither Sarasin & Partners LLP nor any other member of the Bank J. Safra Sarasin group accepts any liability or responsibility whatsoever for any consequential loss of any kind arising out of the use of this document or any part of its contents. The use of this document should not be regarded as a substitute for the exercise by the recipient of his or her own judgment. Sarasin & Partners LLP and/or any person connected with it may act upon or make use of the material referred to herein and/or any of the information upon which it is based, prior to publication of this document. If you are a private investor you should not rely on this document but should contact your professional adviser.
© 2023 Sarasin & Partners LLP – all rights reserved. This document can only be distributed or reproduced with permission from Sarasin & Partners LLP.
SARASIN & PARTNERS LLP
Juxon House
100 St. Paul's Churchyard London EC4M 8BU T +44(0)20 7038 7000
sarasinandpartners.com
SHERBURNE HEATLEY TRUST
INVESTMENT REPORT AS AT 31st DECEMBER 2022
MANAGED BY RUADHRI DUNCAN AND HELENA WAKEFIELD ADMINISTERED BY ALEXANDER RIACH
SARASIN & PARTNERS LLP
Juxon House 100 St. Paul's Churchyard London EC4M 8BU T +44(0)20 7038 7000 sarasinandpartners.com Sarasin & Partners LLP is authorised and regulated by the Financial Conduct Authority.
CONTENTS
| Section | Page |
|---|---|
| Summary | 1 |
| Valuation | 2 |
| Cash Reconciliation | 3 |
| Cash Transactions | 4 |
| Schedule of Transactions | 5 |
| Security Transaction Detail | 6 |
| Custody Statement | 7 |
| Disclaimers | 8 |
| Glossary of Terms | 10 |
Where printed by Sarasin & Partners, this document has been printed on FSC certified sustainably sourced or 100% recycled paper
Sherburne Heatley Trust
SUMMARY
Portfolio Value as at 31st December 2022: £680,163
| Capital | Estimated Income | Estimated Income | ||
|---|---|---|---|---|
| Asset Allocation | £ | % | £ | % |
| Fixed Income | 153,653 | 22.6 | ||
| Equities | 384,690 | 56.6 | ||
| Property | 23,953 | 3.5 | ||
| Alternative Investments | 91,595 | 13.5 | ||
| Liquid Assets | 26,272 | 3.9 | ||
| Total | 680,163 | 100.0 | 21,021 | 3.1 |
| Geographic Allocation - Portfolio | Currency | Allocation - Portfolio |
The report 'looks-through' to the underlying investments within the Sarasin funds in order to show the portfolio's overall allocation.
Where a portfolio holds Sarasin Unit Trusts or OEIC Funds, we use a close of business unit price to enable more accurate performance comparison with the portfolio benchmark.
1
Sherburne Heatley Trust
VALUATION
| Holding Book Cost Price £ |
31-Dec-22 Value as at £ £ % £ % Loss Profit/ Portfolio Income Estimated Yield Est. % of |
|---|---|
| MULTI ASSETS 465,719.27 SARASIN ENDOWMENTS FUND CLASS A INC 412,150 GBP 1.12 167,989.85 SARASIN INCOME AND RESERVES FUND CLASS A INC 176,592 GBP 0.95 Total for MULTI ASSETS 588,742 LIQUID ASSETS Cash 4 Sterling Income Account 4 Total for Cash 4 Total for LIQUID ASSETS 4 Portfolio Totals 588,746 |
521,315 109,165 76.6 15,321 2.9 158,845 (17,747) 23.4 5,699 3.6 |
| 680,159 91,418 100.0 21,021 3.1 |
|
| 4 0.0 0 3.3 |
|
| 4 0.0 0 3.2 |
|
| 4 0.0 0 3.2 |
|
| 680,163 91,418 100.00 21,021 3.1 |
Prices are supplied by Bloomberg and are based on the Bid price as at the close of business on the valuation date. For securities not priced by Bloomberg, other sources may be used. Exchange rates are obtained from Bloomberg.
2
Sherburne Heatley Trust
CASH RECONCILIATION
| £ £ £ |
£ £ £ |
|
|---|---|---|
| Total cash brought forward as at 01-Jan-22 Add: Investment income Interest Tax reclaims Capital additions Miscellaneous items Subtract: Money paid away Management fee Custodian charges Miscellaneous items Net cash available for investment Investment: Purchase and call payments Sales and redemptions Derivatives Net investment/disinvestment Effect of exchange rate movement Total cash carried forward as at 31-Dec-22 |
0.06 21,034.49 5.43 0.00 0.00 0.00 21,039.92 (21,036.19) 0.00 0.00 0.00 (21,036.19) 3.73 3.79 0.00 0.00 0.00 0.00 0.00 3.79 |
|
| 3.79 0.00 0.00 |
||
| 3.79 |
3
Sherburne Heatley Trust
CASH TRANSACTIONS
Cash Transactions between 01-Jan-22 and 31-Dec-22
Investment Income Received
| Cash Transactions between 01-Jan-22 and 31-Dec-22 Investment Income Received |
Cash Transactions between 01-Jan-22 and 31-Dec-22 Investment Income Received |
|---|---|
| Date Description Amount £ |
|
| Sterling Income Account 25-Feb-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,912.04 25-Feb-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,371.64 25-May-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,586.04 25-May-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,331.32 25-Aug-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,603.80 01-Sep-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,912.04 25-Nov-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,912.04 25-Nov-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,405.57 Total 21,034.49 Interest Date Description Gross Tax Amount £ |
3,912.04 1,371.64 3,586.04 1,331.32 1,603.80 3,912.04 3,912.04 1,405.57 |
| Sterling Income Account 01-Mar-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 0.24 GBP 0.00 GBP 0.24 01-Jun-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 0.90 GBP 0.00 GBP 0.90 01-Sep-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 0.50 GBP 0.00 GBP 0.50 01-Dec-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 3.79 GBP 0.00 GBP 3.79 Total 5.43 Money Paid Away Date Description Amount £ |
0.24 0.90 0.50 3.79 |
| Sterling Income Account 05-Jan-22 ACCUMULATED INCOME 02-Mar-22 ACCUMULATED INCOME 04-Apr-22 ACCUMULATED INCOME 01-Jun-22 ACCUMULATED INCOME 04-Jul-22 ACCUMULATED INCOME 02-Sep-22 ACCUMULATED INCOME 08-Sep-22 ACCUMULATED INCOME 04-Oct-22 ACCUMULATED INCOME 02-Dec-22 ACCUMULATED INCOME Total |
(0.06) (5,283.68) (0.24) (4,917.36) (0.90) (1,603.80) (3,912.04) (0.50) (5,317.61) |
| (21,036.19) |
4
Sherburne Heatley Trust
SCHEDULE OF TRANSACTIONS
Transactions between 01-Jan-22 and 31-Dec-22
There were no transactions undertaken for this portfolio during the period.
5
Sherburne Heatley Trust
SECURITY TRANSACTION DETAIL
There are no transactions for the reporting period
6
Sherburne Heatley Trust
CUSTODY STATEMENT
Holdings as at 31-Dec-22
| Holding Security 465,719.27 SARASIN ENDOWMENTS FUND CLASS A INC |
Holding Security |
|---|---|
| 167,989.85 SARASIN INCOME AND RESERVES FUND CLASS A INC |
We confirm that the investments listed above were held on your behalf to the order of Sarasin & Partners LLP Clients' Account by the London Branch of The Bank of New York Mellon, either in the name of their nominee company or in safe custody or to their order by their overseas agents. This statement has been prepared on a trade date basis and therefore includes transactions which were effected but remain unsettled at the date of this report.
7
Sherburne Heatley Trust
DISCLAIMERS
MSCI
The MSCI information may only be used for your internal use, may not be reproduced or re disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication of guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an "as is" basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the "MSCI Parties") expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)
Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI's express written consent.
The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. ("S&P") and is licensed for use by Sarasin & Partners LLP. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard of classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability, and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.
The blended returns are calculated by Sarasin & Partners LLP using end of day index level values licensed from MSCI ("MSCI Data”). For the avoidance of doubt, MSCI is not the benchmark "administrator" for, or a "contributor", "submitter" or "supervised contributor" to, the blended returns, and the MSCI Data is not considered a "contribution" or "submission " in relation to the blended returns, as those terms may be defined in any rules, laws, regulations, legislation or international standards. MSCI Data is provided "ASIS" without warranty or liability and no copying or distribution is permitted. MSCI does not make any representation regarding the advisability of any investment or strategy and does not sponsor, promote, issue, sell or otherwise recommend or endorse any investment or strategy, including any financial products or strategies based on, tracking or otherwise utilizing any MSCI Data, models, analytics or other materials or information.
STOXX
DBAG is a registered trademark of Deutsche Börse AG
DAXX is a registered trademark of Deutsche Börse AG
8
Sherburne Heatley Trust
DISCLAIMERS
ICE Bank of America Merrill Lynch (BofAML)
Source ICE Data Indices, LLC (“ICE Data”), is used with permission. ICE Data, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE Data, its affiliates nor their respective third party providers shall be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and your use is at your own risk. ICE Data, its affiliates and their respective third party suppliers do not sponsor, endorse, or recommend Sarasin & Partners LLP or any of its products or services.
Asset Risk Consultants
ARC Private Client Indices (“PCI”) and Charity indices are based on historical information and past performance is not indicative of future performance. PCI are computed using a complex calculation and the results are provided for information purposes only and are not necessarily an indicator of suitability for your specific investment or other requirements. ARC does not guarantee the performance of any investment or portfolio or the return of an investor’s capital or any specific rate of return. ARC accepts no liability for any investment decision made on the basis of the information contained in this report. You should always complete your own analysis and/or seek appropriate professional advice before entering into an agreement with any PCI Data Contributor. The content is the property of ARC or its licensors and is protected by copyright and other intellectual property laws. Use of the information herein is governed by strict Conditions of Use as detailed on www.suggestus.com.
IMPORTANT NOTICE
This notice is being given in accordance with Regulation 10 of the U.K. International Tax Compliance Regulations 2015 (the Regulations)
Notification to Account Holders of International Disclosure Requirements
The U.K. government has issued regulations giving effect to various international agreements allowing it to exchange account information provided by U.K. financial institutions to other jurisdictions. The new regulations grant HM Revenue and Customs ( HMRC ) these powers and Sarasin & Partners LLP ( Sarasin ) must disclose information about its clients’ accounts. Under these Regulations Sarasin is required to make you aware that if for the purposes of the Regulations, you are classified as a ‘Reportable Person’ and as owning a ‘Reportable Account’ certain financial information about you as specified in E.U. directives and U.S. global tax legislation will be reported by Sarasin to HMRC on an on-going basis. The information HMRC collects may be transferred to any competent authority or governments of other jurisdictions in accordance with relevant reciprocal exchange of information intergovernmental agreements.
9
Sherburne Heatley Trust
GLOSSARY OF TERMS
| Description | |
|---|---|
| General | |
| Acronyms | AGR - Annualised Growth Rate |
| bp - Basis Point (100th of a Percent) | |
| ISA - Individual Savings Account | |
| FRN - Floating Rate Note | |
| MSCI - Morgan Stanley Capital International Inc | |
| LIBOR - London Inter Bank Offered Rate | |
| P/L - Profit/Loss | |
| RPI - Retail Price Index (UK) | |
| S & P - Standard and Poor's | |
| YTD - Year to Date | |
| Bloomberg | A source of investment and statistical data, supplied to us electronically. |
| Look-through Reporting | Where appropriate, we "look-through" the investments that you have in Sarasin funds and |
| consolidate these holdings with the portfolio's direct holdings. The result is shown in the | |
| Consolidated Valuation, within the Valuation and Accounting Statements section, and all of the | |
| analysis throughout the report uses this consolidated position, unless stated. | |
| Summary | |
| The summary shows the portfolio's key statistics. The asset allocation breaks the portfolio | |
| down by value into the major asset classes. This is followed by the estimated annual income | |
| from each category together with the yield. This is the income that the current portfolio would | |
| have produced over the last twelve months and it does not take into account any future | |
| changes to the asset allocation or the level of dividends or interest rates. The pie charts shows | |
| the portfolio's allocation to each of the major currencies or geographical regions. The | |
| performance is summarised at the bottom, using selected time periods, and this is followed by | |
| the portfolio’s benchmark return. Where a long-term target return has been agreed and the | |
| time horizon completed we will show for the latest rolling period the returns of both the portfolio | |
| and the target return. | |
| Valuation | |
| This section contains the valuation by holding and separates, where applicable, holdings held | |
| within the various individual portfolios which constitute your overall investment mandate. The | |
| holdings are expressed by Book Cost, Price, Value, the notional Profit or Loss and projected | |
| Gross Income in the base currency and the Gross Yield. | |
| Accrued Interest | Interest already earned but not yet due and payable. |
| Book Cost | The total cost of the holding includes brokerage, taxation and any other charges. If a holding |
| has been reduced, the residual book cost reflects the average cost of all previous purchases. | |
| Profit/Loss | The difference between the present market value and the Book Cost (see above). Please note |
| that where the holding being sold has been accumulated through two or more separate | |
| purchases, the profit or loss shown here may not be an accurate figure for tax purposes. | |
| % of Portfolio | The value of the holding expressed as a percentage of the entire portfolio. |
| Estimated Gross Income | This is the gross income that the holding would have produced over the last twelve months. It |
| does not take into account any changes to the asset allocation or the level of dividends. |
10
Sherburne Heatley Trust
GLOSSARY OF TERMS
Cash Reconciliation
This section reconciles the movements through the portfolio's cash account(s) for the reporting period. A summary Statement is followed by detailed listings of transactions for Investment Income, Interest, and Tax Reclaims, Capital Movements and any miscellaneous items deducted from this are any Monies paid away including management fees and custodian charges, where applicable. This is followed by the total of all Purchases (a negative sum), the total proceeds of any Sales and Redemptions.
Effect of exchange rate The cash reconciliation shows the movement in your total cash balances exchanged into the movement base currency of your portfolio, our system will exchange your transactions and cash balances at the rate used at the beginning of the period and compare this with the rate used at the end of the period.
Cash Transactions
Shows each portfolio's cash transactions, in date order, for income and capital cash.
Schedule of Transactions
Movements within the portfolio for the period including: Purchases, Sales, Capital Events and Transfers IN and OUT. The Realised Profit or Loss is the difference between the book cost of the securities sold and the proceeds.
Capital Events Lists the holdings that underwent a change of capital structure during the period.
Transaction Summary Summarises the number and overall value of all of the transactions and cash movements, including capital events, within each portfolio.
Custody Statement
Lists the holdings in each portfolio that are held on your behalf to the order of Sarasin & Partners Clients' Account and/or held under your own name on the register at Northern Trust Global Services PLC.
11
Sherburne Heatley Trust
IMPORTANT INFORMATION
Please note this is a review of existing investments and is intended for the recipient only.
This document has been issued by Sarasin & Partners LLP which is a limited liability partnership registered in England and Wales with registered number OC329859 and is authorised and regulated by the UK Financial Conduct Authority. It has been prepared solely for information purposes and is not a solicitation, or an offer to buy or sell any security. The information on which the document is based has been obtained from sources that we believe to be reliable, and in good faith, but we have not independently verified such information and we make no representation or warranty, express or implied, as to their accuracy. All expressions of opinion are subject to change without notice.
Please note that the prices of shares and the income from them can fall as well as rise and you may not get back the amount originally invested. This can be as a result of market movements and also of variations in the exchange rates between currencies. Past performance is not a guide to future returns and may not be repeated.
Where Sarasin & Partners LLP is not your appointed custodian this information should not be relied on as an official document for tax reporting purposes. It may supplement but may not replace the account statement issued by the custodian of your assets, which provides an official valuation of assets held in your account, and may also contain additional notices, disclosures, and other important information.
Neither Sarasin & Partners LLP nor any other member of the Bank J. Safra Sarasin group accepts any liability or responsibility whatsoever for any consequential loss of any kind arising out of the use of this document or any part of its contents. The use of this document should not be regarded as a substitute for the exercise by the recipient of his or her own judgment. Sarasin & Partners LLP and/or any person connected with it may act upon or make use of the material referred to herein and/or any of the information upon which it is based, prior to publication of this document. If you are a private investor you should not rely on this document but should contact your professional adviser.
© 2023 Sarasin & Partners LLP – all rights reserved. This document can only be distributed or reproduced with permission from Sarasin & Partners LLP.
SARASIN & PARTNERS LLP
Juxon House
100 St. Paul's Churchyard London EC4M 8BU T +44(0)20 7038 7000
sarasinandpartners.com
SHERBURNE HEATLEY TRUST
INVESTMENT REPORT AS AT 31st DECEMBER 2022
MANAGED BY RUADHRI DUNCAN AND HELENA WAKEFIELD ADMINISTERED BY ALEXANDER RIACH
SARASIN & PARTNERS LLP
Juxon House 100 St. Paul's Churchyard London EC4M 8BU T +44(0)20 7038 7000 sarasinandpartners.com Sarasin & Partners LLP is authorised and regulated by the Financial Conduct Authority.
CONTENTS
| Section | Page |
|---|---|
| Summary | 1 |
| Valuation | 2 |
| Cash Reconciliation | 3 |
| Cash Transactions | 4 |
| Schedule of Transactions | 5 |
| Security Transaction Detail | 6 |
| Custody Statement | 7 |
| Disclaimers | 8 |
| Glossary of Terms | 10 |
Where printed by Sarasin & Partners, this document has been printed on FSC certified sustainably sourced or 100% recycled paper
Sherburne Heatley Trust
SUMMARY
Portfolio Value as at 31st December 2022: £680,163
| Capital | Estimated Income | Estimated Income | ||
|---|---|---|---|---|
| Asset Allocation | £ | % | £ | % |
| Fixed Income | 153,653 | 22.6 | ||
| Equities | 384,690 | 56.6 | ||
| Property | 23,953 | 3.5 | ||
| Alternative Investments | 91,595 | 13.5 | ||
| Liquid Assets | 26,272 | 3.9 | ||
| Total | 680,163 | 100.0 | 21,021 | 3.1 |
| Geographic Allocation - Portfolio | Currency | Allocation - Portfolio |
The report 'looks-through' to the underlying investments within the Sarasin funds in order to show the portfolio's overall allocation.
Where a portfolio holds Sarasin Unit Trusts or OEIC Funds, we use a close of business unit price to enable more accurate performance comparison with the portfolio benchmark.
1
Sherburne Heatley Trust
VALUATION
| Holding Book Cost Price £ |
31-Dec-22 Value as at £ £ % £ % Loss Profit/ Portfolio Income Estimated Yield Est. % of |
|---|---|
| MULTI ASSETS 465,719.27 SARASIN ENDOWMENTS FUND CLASS A INC 412,150 GBP 1.12 167,989.85 SARASIN INCOME AND RESERVES FUND CLASS A INC 176,592 GBP 0.95 Total for MULTI ASSETS 588,742 LIQUID ASSETS Cash 4 Sterling Income Account 4 Total for Cash 4 Total for LIQUID ASSETS 4 Portfolio Totals 588,746 |
521,315 109,165 76.6 15,321 2.9 158,845 (17,747) 23.4 5,699 3.6 |
| 680,159 91,418 100.0 21,021 3.1 |
|
| 4 0.0 0 3.3 |
|
| 4 0.0 0 3.2 |
|
| 4 0.0 0 3.2 |
|
| 680,163 91,418 100.00 21,021 3.1 |
Prices are supplied by Bloomberg and are based on the Bid price as at the close of business on the valuation date. For securities not priced by Bloomberg, other sources may be used. Exchange rates are obtained from Bloomberg.
2
Sherburne Heatley Trust
CASH RECONCILIATION
| £ £ £ |
£ £ £ |
|
|---|---|---|
| Total cash brought forward as at 01-Jan-22 Add: Investment income Interest Tax reclaims Capital additions Miscellaneous items Subtract: Money paid away Management fee Custodian charges Miscellaneous items Net cash available for investment Investment: Purchase and call payments Sales and redemptions Derivatives Net investment/disinvestment Effect of exchange rate movement Total cash carried forward as at 31-Dec-22 |
0.06 21,034.49 5.43 0.00 0.00 0.00 21,039.92 (21,036.19) 0.00 0.00 0.00 (21,036.19) 3.73 3.79 0.00 0.00 0.00 0.00 0.00 3.79 |
|
| 3.79 0.00 0.00 |
||
| 3.79 |
3
Sherburne Heatley Trust
CASH TRANSACTIONS
Cash Transactions between 01-Jan-22 and 31-Dec-22
Investment Income Received
| Cash Transactions between 01-Jan-22 and 31-Dec-22 Investment Income Received |
Cash Transactions between 01-Jan-22 and 31-Dec-22 Investment Income Received |
|---|---|
| Date Description Amount £ |
|
| Sterling Income Account 25-Feb-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,912.04 25-Feb-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,371.64 25-May-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,586.04 25-May-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,331.32 25-Aug-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,603.80 01-Sep-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,912.04 25-Nov-22 INCOME 465719.2670 SARASIN ENDOWMENTS FUND CLASS A INC 3,912.04 25-Nov-22 INCOME 167989.8520 SARASIN INCOME AND RESERVES FUND CLASS A INC 1,405.57 Total 21,034.49 Interest Date Description Gross Tax Amount £ |
3,912.04 1,371.64 3,586.04 1,331.32 1,603.80 3,912.04 3,912.04 1,405.57 |
| Sterling Income Account 01-Mar-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 0.24 GBP 0.00 GBP 0.24 01-Jun-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 0.90 GBP 0.00 GBP 0.90 01-Sep-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 0.50 GBP 0.00 GBP 0.50 01-Dec-22 GROSS INTEREST ON (GBP) INCOME ACCOUNT 3.79 GBP 0.00 GBP 3.79 Total 5.43 Money Paid Away Date Description Amount £ |
0.24 0.90 0.50 3.79 |
| Sterling Income Account 05-Jan-22 ACCUMULATED INCOME 02-Mar-22 ACCUMULATED INCOME 04-Apr-22 ACCUMULATED INCOME 01-Jun-22 ACCUMULATED INCOME 04-Jul-22 ACCUMULATED INCOME 02-Sep-22 ACCUMULATED INCOME 08-Sep-22 ACCUMULATED INCOME 04-Oct-22 ACCUMULATED INCOME 02-Dec-22 ACCUMULATED INCOME Total |
(0.06) (5,283.68) (0.24) (4,917.36) (0.90) (1,603.80) (3,912.04) (0.50) (5,317.61) |
| (21,036.19) |
4
Sherburne Heatley Trust
SCHEDULE OF TRANSACTIONS
Transactions between 01-Jan-22 and 31-Dec-22
There were no transactions undertaken for this portfolio during the period.
5
Sherburne Heatley Trust
SECURITY TRANSACTION DETAIL
There are no transactions for the reporting period
6
Sherburne Heatley Trust
CUSTODY STATEMENT
Holdings as at 31-Dec-22
| Holding Security 465,719.27 SARASIN ENDOWMENTS FUND CLASS A INC |
Holding Security |
|---|---|
| 167,989.85 SARASIN INCOME AND RESERVES FUND CLASS A INC |
We confirm that the investments listed above were held on your behalf to the order of Sarasin & Partners LLP Clients' Account by the London Branch of The Bank of New York Mellon, either in the name of their nominee company or in safe custody or to their order by their overseas agents. This statement has been prepared on a trade date basis and therefore includes transactions which were effected but remain unsettled at the date of this report.
7
Sherburne Heatley Trust
DISCLAIMERS
MSCI
The MSCI information may only be used for your internal use, may not be reproduced or re disseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication of guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an "as is" basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the "MSCI Parties") expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information. Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. (www.msci.com)
Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI's express written consent.
The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. ("S&P") and is licensed for use by Sarasin & Partners LLP. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard of classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability, and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.
The blended returns are calculated by Sarasin & Partners LLP using end of day index level values licensed from MSCI ("MSCI Data”). For the avoidance of doubt, MSCI is not the benchmark "administrator" for, or a "contributor", "submitter" or "supervised contributor" to, the blended returns, and the MSCI Data is not considered a "contribution" or "submission " in relation to the blended returns, as those terms may be defined in any rules, laws, regulations, legislation or international standards. MSCI Data is provided "ASIS" without warranty or liability and no copying or distribution is permitted. MSCI does not make any representation regarding the advisability of any investment or strategy and does not sponsor, promote, issue, sell or otherwise recommend or endorse any investment or strategy, including any financial products or strategies based on, tracking or otherwise utilizing any MSCI Data, models, analytics or other materials or information.
STOXX
DBAG is a registered trademark of Deutsche Börse AG
DAXX is a registered trademark of Deutsche Börse AG
8
Sherburne Heatley Trust
DISCLAIMERS
ICE Bank of America Merrill Lynch (BofAML)
Source ICE Data Indices, LLC (“ICE Data”), is used with permission. ICE Data, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE Data, its affiliates nor their respective third party providers shall be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and your use is at your own risk. ICE Data, its affiliates and their respective third party suppliers do not sponsor, endorse, or recommend Sarasin & Partners LLP or any of its products or services.
Asset Risk Consultants
ARC Private Client Indices (“PCI”) and Charity indices are based on historical information and past performance is not indicative of future performance. PCI are computed using a complex calculation and the results are provided for information purposes only and are not necessarily an indicator of suitability for your specific investment or other requirements. ARC does not guarantee the performance of any investment or portfolio or the return of an investor’s capital or any specific rate of return. ARC accepts no liability for any investment decision made on the basis of the information contained in this report. You should always complete your own analysis and/or seek appropriate professional advice before entering into an agreement with any PCI Data Contributor. The content is the property of ARC or its licensors and is protected by copyright and other intellectual property laws. Use of the information herein is governed by strict Conditions of Use as detailed on www.suggestus.com.
IMPORTANT NOTICE
This notice is being given in accordance with Regulation 10 of the U.K. International Tax Compliance Regulations 2015 (the Regulations)
Notification to Account Holders of International Disclosure Requirements
The U.K. government has issued regulations giving effect to various international agreements allowing it to exchange account information provided by U.K. financial institutions to other jurisdictions. The new regulations grant HM Revenue and Customs ( HMRC ) these powers and Sarasin & Partners LLP ( Sarasin ) must disclose information about its clients’ accounts. Under these Regulations Sarasin is required to make you aware that if for the purposes of the Regulations, you are classified as a ‘Reportable Person’ and as owning a ‘Reportable Account’ certain financial information about you as specified in E.U. directives and U.S. global tax legislation will be reported by Sarasin to HMRC on an on-going basis. The information HMRC collects may be transferred to any competent authority or governments of other jurisdictions in accordance with relevant reciprocal exchange of information intergovernmental agreements.
9
Sherburne Heatley Trust
GLOSSARY OF TERMS
| Description | |
|---|---|
| General | |
| Acronyms | AGR - Annualised Growth Rate |
| bp - Basis Point (100th of a Percent) | |
| ISA - Individual Savings Account | |
| FRN - Floating Rate Note | |
| MSCI - Morgan Stanley Capital International Inc | |
| LIBOR - London Inter Bank Offered Rate | |
| P/L - Profit/Loss | |
| RPI - Retail Price Index (UK) | |
| S & P - Standard and Poor's | |
| YTD - Year to Date | |
| Bloomberg | A source of investment and statistical data, supplied to us electronically. |
| Look-through Reporting | Where appropriate, we "look-through" the investments that you have in Sarasin funds and |
| consolidate these holdings with the portfolio's direct holdings. The result is shown in the | |
| Consolidated Valuation, within the Valuation and Accounting Statements section, and all of the | |
| analysis throughout the report uses this consolidated position, unless stated. | |
| Summary | |
| The summary shows the portfolio's key statistics. The asset allocation breaks the portfolio | |
| down by value into the major asset classes. This is followed by the estimated annual income | |
| from each category together with the yield. This is the income that the current portfolio would | |
| have produced over the last twelve months and it does not take into account any future | |
| changes to the asset allocation or the level of dividends or interest rates. The pie charts shows | |
| the portfolio's allocation to each of the major currencies or geographical regions. The | |
| performance is summarised at the bottom, using selected time periods, and this is followed by | |
| the portfolio’s benchmark return. Where a long-term target return has been agreed and the | |
| time horizon completed we will show for the latest rolling period the returns of both the portfolio | |
| and the target return. | |
| Valuation | |
| This section contains the valuation by holding and separates, where applicable, holdings held | |
| within the various individual portfolios which constitute your overall investment mandate. The | |
| holdings are expressed by Book Cost, Price, Value, the notional Profit or Loss and projected | |
| Gross Income in the base currency and the Gross Yield. | |
| Accrued Interest | Interest already earned but not yet due and payable. |
| Book Cost | The total cost of the holding includes brokerage, taxation and any other charges. If a holding |
| has been reduced, the residual book cost reflects the average cost of all previous purchases. | |
| Profit/Loss | The difference between the present market value and the Book Cost (see above). Please note |
| that where the holding being sold has been accumulated through two or more separate | |
| purchases, the profit or loss shown here may not be an accurate figure for tax purposes. | |
| % of Portfolio | The value of the holding expressed as a percentage of the entire portfolio. |
| Estimated Gross Income | This is the gross income that the holding would have produced over the last twelve months. It |
| does not take into account any changes to the asset allocation or the level of dividends. |
10
Sherburne Heatley Trust
GLOSSARY OF TERMS
Cash Reconciliation
This section reconciles the movements through the portfolio's cash account(s) for the reporting period. A summary Statement is followed by detailed listings of transactions for Investment Income, Interest, and Tax Reclaims, Capital Movements and any miscellaneous items deducted from this are any Monies paid away including management fees and custodian charges, where applicable. This is followed by the total of all Purchases (a negative sum), the total proceeds of any Sales and Redemptions.
Effect of exchange rate The cash reconciliation shows the movement in your total cash balances exchanged into the movement base currency of your portfolio, our system will exchange your transactions and cash balances at the rate used at the beginning of the period and compare this with the rate used at the end of the period.
Cash Transactions
Shows each portfolio's cash transactions, in date order, for income and capital cash.
Schedule of Transactions
Movements within the portfolio for the period including: Purchases, Sales, Capital Events and Transfers IN and OUT. The Realised Profit or Loss is the difference between the book cost of the securities sold and the proceeds.
Capital Events Lists the holdings that underwent a change of capital structure during the period.
Transaction Summary Summarises the number and overall value of all of the transactions and cash movements, including capital events, within each portfolio.
Custody Statement
Lists the holdings in each portfolio that are held on your behalf to the order of Sarasin & Partners Clients' Account and/or held under your own name on the register at Northern Trust Global Services PLC.
11
Sherburne Heatley Trust
IMPORTANT INFORMATION
Please note this is a review of existing investments and is intended for the recipient only.
This document has been issued by Sarasin & Partners LLP which is a limited liability partnership registered in England and Wales with registered number OC329859 and is authorised and regulated by the UK Financial Conduct Authority. It has been prepared solely for information purposes and is not a solicitation, or an offer to buy or sell any security. The information on which the document is based has been obtained from sources that we believe to be reliable, and in good faith, but we have not independently verified such information and we make no representation or warranty, express or implied, as to their accuracy. All expressions of opinion are subject to change without notice.
Please note that the prices of shares and the income from them can fall as well as rise and you may not get back the amount originally invested. This can be as a result of market movements and also of variations in the exchange rates between currencies. Past performance is not a guide to future returns and may not be repeated.
Where Sarasin & Partners LLP is not your appointed custodian this information should not be relied on as an official document for tax reporting purposes. It may supplement but may not replace the account statement issued by the custodian of your assets, which provides an official valuation of assets held in your account, and may also contain additional notices, disclosures, and other important information.
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