Investor Compensation Fund (the Fund)
Statement of cash flows
For the year ended 31 March 2012 (Expressed in Hong Kong dollars)
| 2012 $’000 |
2011 $’000 |
|
| Cash flows from operating activities | ||
| Surplus for the year | 42,992 | 87,058 |
| Net investment income | (53,556) | (88,837) |
| Exchange difference | 1,902 | (1,695) |
| Decrease in amount due from Investor Compensation Company Limited | 43 | 133 |
| Decrease in provision for compensation | – | (5,506) |
| Increase in accounts payable and accrued charges | 27 | 88 |
| Net cash used in operating activities | (8,592) | (8,759) |
| Cash flows from investing activities | ||
| Purchase of debt securities | (633,209) | (509,650) |
| Sale or maturity of debt securities | 565,399 | 409,036 |
| Sale of equity securities | 1,109 | 968 |
| Interest received | 53,831 | 57,623 |
| Net cash used in investing activities | (12,870) | (42,023) |
| Net decrease in cash and cash equivalents | (21,462) | (50,782) |
| Cash and cash equivalents at beginning of the year | 201,953 | 252,735 |
| Cash and cash equivalents at end of the year | 180,491 | 201,953 |
Analysis of the balance of cash and cash equivalents:
| 2012 $’000 |
2011 $’000 |
|
| Fixed and call deposits with banks | 153,839 | 189,486 |
| Cash at bank | 26,652 | 12,467 |
| 180,491 | 201,953 |