Sygnia : Collective Investments Scheme Annual Financial Statements

SYGNIA COLLECTIVE INVESTMENT SCHEME

ANNUAL FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

AUDITED

SYGNIA COLLECTIVE INVESTMENT SCHEME

ANNUAL FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

GENERAL INFORMATION

Country of incorporation and domicile Nature of business and principal activities

Management company

Registered office of management company

Postal address of management company

Trustee and local custodian

Global custodian

Preparer

Auditor

South Africa

The Sygnia Collective Investment Scheme is registered in terms of the Collective Investment Schemes Control Act No. 45 of 2002 ("the Act") as set out in the main and supplemental Trust Deeds of each fund within the Sygnia Collective Investment Scheme.

Sygnia Collective Investments RF Proprietary Limited

Registration Number: 2009/003063/07

7th Floor, The Foundry Cardiff Street

Green Point

Cape Town 8001

PO Box 51591 Waterfront 8002

Standard Bank of South Africa Limited

Bank of New York Mellon Corporation

Prepared by Ms R Diedricks CA(SA) under the supervision of Mr J van Jaarsveld

Mazars

Registered Auditor

Page 2

SYGNIA COLLECTIVE INVESTMENT SCHEME

ANNUAL FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

CONTENTS	PAGE
Directors' responsibility for financial reporting and approval of annual financial statements	4
Trustee's report	5
Management company's report	6
Independent auditor's report	7 - 10
Financial statements	11 - 113
Sygnia 4th Industrial Revolution Global Equity Fund	11 - 13
Sygnia CPI + 2% Fund	14 - 16
Sygnia CPI + 4% Fund	17 - 19
Sygnia CPI + 6% Fund	20 - 22
Sygnia Equity Fund	23 - 25
Sygnia Skeleton Balanced 70 Fund	26 - 28
Sygnia Skeleton Balanced 60 Fund	29 - 31
Sygnia Skeleton Balanced 40 Fund	32 - 34
Sygnia Money Market Fund	35 - 37
Sygnia DIVI Fund	38 - 40
Sygnia Listed Property Index Fund	41 - 43
Sygnia Top 40 Index Fund	44 - 46
Sygnia SWIX Index Fund	47 - 49
Sygnia Health Innovation Global Equity Fund	50 - 52
Sygnia International Flexible Fund of Funds	53 - 55
Sygnia All Bond Index Fund	56 - 58
Sygnia Skeleton International Equity Fund of Funds	59 - 61
Sygnia Skeleton Worldwide Flexible Fund	62 - 64
Sygnia FAANG Plus Equity Fund	65 - 67
Sygnia Enhanced Income Fund	68 - 70
Sygnia Enhanced All Bond Fund	71 - 73
Sygnia China New Economy Global Equity Fund	74 - 76
Sygnia Skeleton Balanced Absolute Fund	77 - 79
Notes to the financial statements	80 - 113

Page 3

SYGNIA COLLECTIVE INVESTMENT SCHEME

ANNUAL FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

DIRECTORS' RESPONSIBILITY FOR FINANCIAL REPORTING

The directors are responsible for the preparation and fair presentation of the annual financial statements of Sygnia Collective Investments (RF) Proprietary Limited ("the Company"). The annual financial statements comprise the directors' report and the financial statements. The financial statements comprise the statement of financial position at 30 September 2022, and the statements of comprehensive income, changes in equity and cash flows for the year then ended, and the notes to the financial statements which include a summary of significant accounting policies and other explanatory notes. The financial statements have been prepared in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board ("IASB"), Financial Reporting Pronouncements as issued by Financial Reporting Standards Council and the requirements of the Companies Act of South Africa.

The directors are also responsible for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and for maintaining adequate accounting records and an effective system of risk management.

The directors have made an assessment of each of the unit portfolios' ability to continue as going concerns and have no reason to believe that the unit portfolios will not be going concerns in the year ahead.

The auditor is responsible for reporting on whether the annual 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 unit portfolios, as identified in the first paragraph, were approved by the board of directors of Sygnia Collective Investments RF Proprietary Limited on 12 December 2022 and are signed on its behalf by:

…………………………………………………………..…	…………………………………………………………..…
MA Sirkot	DR Hufton

Page 4

REPORT OF THE TRUSTEE FOR THE SYGNIA COLLECTIVE INVESTMENTS SCHEME

We, the Standard Bank of South Africa Limited, in our capacity as Trustee of the Sygnia Collective Investments 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 30 September 2022.

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 by Section 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.

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:

1. the limitations imposed on the investment and borrowing powers of the manager by this Act;
2. and the provisions of this Act and the deed;

Seggie Moodley

Standard Bank of South Africa Limited

12 December 2022