Sygnia : SYGP Annual Financial Statements - 2020

Sygnia Itrix Global Property Exchange Traded Fund

Audited Annual Financial Statements for the year ended 31 December 2020

Sygnia Itrix Global Property Exchange Traded Fund
Annual Financial Statements
for the year ended 31 December 2020
Contents	Page
Directors' responsibility statement	2
Trustee's report	3 - 4
Independent auditor's report	5 - 8
Statement of financial position	9
Statement of profit or loss and other comprehensive income	10
Statement of changes in net assets attributable to holders of redeemable securities	11
Statement of cash flows	12
Notes to the financial statements	13 - 27

Sygnia Itrix Global Property Exchange Traded Fund

Directors' responsibility statement

The directors of Sygnia Itrix (RF) Proprietary Limited (the Manager) are responsible for the preparation and fair presentation of the financial statements of the Sygnia Itrix Global Property Exchange Traded Fund (the Fund), comprising the statement of financial position at 31 December 2020, and the statement profit or loss and other comprehensive income, statement of changes in net assets attributable to holders of redeemable securities and statement of cash flows for the period then ended, and notes to the financial statements. These include a summary of significant accounting policies and other explanatory notes, in accordance with International Financial Reporting Standards, and in the manner required by:

• • The Collective Investment Schemes Control Act; and

• • The Trust Deed.

The directors of the Manager further declare that:

(a) the annual financial statements set out on pages 9 to 27, fairly present in all material respects the financial position, financial performance and cash flows of the fund in terms of IFRS;

• (b) no facts have been omitted or untrue statements made that would make the annual financial statements false or misleading;

• (c) internal financial controls have been put in place to ensure that material information relating to the Exchange Traded Fund have been provided to effectively prepare the financial statements of the Fund; and

(d) the internal financial controls are adequate and effective and can be relied upon in compiling the annual financial statements, having fulfilled our role and function within the combined assurance model pursuant to principle 15 of the King Code.

The directors of the Manager have made an assessment of the ability of the Fund to continue as a going concern and have no reason to believe that the Fund will not be a going concern in the year ahead.

The auditor is responsible for reporting on whether the financial statements are fairly presented in accordance with the applicable financial reporting framework.

Approval of the annual financial statements

The annual financial statements of the Sygnia Itrix Global Property Exchange Fund as identified in the first paragraph, were approved by the directors of Sygnia Itrix (RF) Proprietary Limited on 29 March 2021 and are signed on their behalf by:

Financial Director

Chief executive officer

The Manager

Sygnia Itrix (RF)(PTY) Limited 7th Floor, The Foundry

Cardiff Street

Green Point Cape Town 8001

REPORT OF THE TRUSTEE FOR SYGNIA ITRIX COLLECTIVE INVESTMENT SCHEME

We, the Standard Bank of South Africa Limited, in our capacity as Trustee of the Sygnia Itrix Collective Investment Scheme ("the Scheme") have prepared a report in terms of Section 70(1)(f) of the Collective Investment Schemes Control Act, 45 of 2002, as amended ("the Act"), for the financial year ended 31 December 2020

In support of our report we have adopted certain processes and procedures that allow us to form a reasonable conclusion on whether the Manager has administered the Scheme in accordance with the Act and the Scheme Deed.

As Trustees of the Scheme we are also obliged to in terms of Section 70(3) of the Act to satisfy ourselves that every statement of comprehensive income, statement of financial position or other return prepared by the Manager of the Scheme as required bySection 90 of the Act fairly represents the assets and liabilities, as well as the income and distribution of income, of every portfolio of the Scheme.

The Manager is responsible for maintaining the accounting records and preparing the annual financial statements of the Scheme in conformity with International Financial Reporting Standards. This responsibility also includes appointing an external auditor to the Scheme to ensure that the financial statements are properly drawn up so as to fairly represent the financial position of every portfolio of its collective investment scheme are in accordance with International Financial Reporting Standards and in the manner required by the Act.

Our enquiry into the administration of the Scheme by the Manager does not cover a review of the annual financial statements and hence we do not provide an opinion thereon.

Based on our records, internal processes and procedures we report that nothing has come to our attention that causes us to believe that the accompanying financial statements do not fairly represent the assets and liabilities, as well as the income and distribution of income, of every portfolio of the Scheme administered by the Manager.

Standard Bank Centre 1st Floor 5 Simmonds Street Johannesburg 2001 / PO Box 61690 Marshalltown 2107 South Africa Tel. Switchboard: [phone] Fax [phone] / standardbank.co.za

The Standard Bank of South Africa Limited (Reg. No. 1962/000738/06) Authorised financial services provider and registered credit provider (NCRCP15)

Directors: TS Gcabashe (Chairman) L Fuzile* (Chief Executive) PLH Cook A Daehnke* MA Erasmus1 GJ Fraser-Moleketi Xueqing Guan2 GMB Kennealy JH Maree KD Moroka NMC Nyembezi ML Oduor-Otieno3 AC Parker ANA Peterside CON4 MJD Ruck SK Tshabalala* JM Vice Lubin Wang2

NNA Matyumza

Company Secretary: Z Stephen - 22/02/2021*

Executive Director 1British 2Chinese 3Kenyan

4Nigerian

We confirm that according to the records available to us, no losses were suffered in the portfolios and no investor was prejudiced as a result thereof.

We conclude our report by stating that we reasonably believe that the Manager has administered the Scheme in accordance with:

• (i) the limitations imposed on the investment and borrowing powers of the manager by this Act;

• (ii) and the provisions of this Act and the deed;

Melinda Mostert

Seggie Moodley

Standard Bank of South Africa Limited

Standard Bank of South Africa Limited

29 March 2021

Standard Bank Centre 1st Floor 5 Simmonds Street Johannesburg 2001 / PO Box 61690 Marshalltown 2107 South Africa Tel. Switchboard: [phone] Fax [phone] / standardbank.co.za

The Standard Bank of South Africa Limited (Reg. No. 1962/000738/06) Authorised financial services provider and registered credit provider (NCRCP15)

Directors: TS Gcabashe (Chairman) L Fuzile* (Chief Executive) PLH Cook A Daehnke* MA Erasmus1 GJ Fraser-Moleketi Xueqing Guan2 GMB Kennealy JH Maree KD Moroka NMC Nyembezi ML Oduor-Otieno3 AC Parker ANA Peterside CON4 MJD Ruck SK Tshabalala* JM Vice Lubin Wang2

NNA Matyumza

Company Secretary: Z Stephen - 22/02/2021*

Executive Director 1British 2Chinese 3Kenyan

4Nigerian