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Philequity Fund, Inc.(An Open-End Mutual Fund Company)
Financial StatementsDecember 31, 2014 and 2013and Years Ended
December 31, 2014, 2013 and 2012
and
Independent Auditors Report
Ill"
SGVBuilding a betterworking world
A member firm of Ernst & Young Global Limited
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APhilequity Fund, Inc
STATEMENT OF MANAGEMENT'S RESPONSIBILITYFOR FINANCIAL
STATEMENTS
The management of Philequity Fund, Inc. is responsible for the
preparation and fair presentation of thefinancial statements for
the years ended December 31, 2014 and 2013, including the
additionalcomponents attached therein, in accordance with the
accounting principles generally accepted in thePhilippines as
prescribed inNote 2 to the financial statements. This
responsibility includes designing andimplementing internal controls
relevant to the preparation and fair presentation of financial
statementsthat are free from material misstatement, whether due to
fraud or error, selecting and applying appropriateaccounting
policies, and making accounting estimates that are reasonable inthe
circumstances.
The Board of Directors reviews and approves the financial
statements and submits the same to thestockholders.
Sycip, Gorres, Velayo and Co., the independent auditors,
appointed by the stockholders, has examined thefinancial statements
of the Company in accordance with Philippine Standards on Auditing,
and in itsreport to the stockholders, has expressed its opinion on
the fairness of presentation upon completion ofsuch
examination.
VIOLETA O. LIDTreasurerCTC No.: 252801J
IGNACHQB. 9*MENChairman dNlYesidentCTCNb.:
131627/JanuaixOiQJManila
January 27, 2015Quezon CityTIN: 109-731-437
Signed this 4/da$of March, 2015.
TIN: 228-111-486
"Manila
SUBSCRIBED AND SWORN to me before thisexhibiting to me their
Community Tax Certificates.
Doc. No. |(ftPage No. ABook No.Series of 2015
2 4 2015
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at Pasig City, affiants
lLANOLINCEMBER 31 2C152014-059
kILA PHILIPPINES79102 25-05/MIA
8192 01/05/12/MLA1flO 33596
N0.tv-9'.?3S5018M814'DA ATES LAW OFFICEor A A BtOG
LcGAS STUnit 2004-A 20/F East Tower, Philippine Stock Exchange
Centre, Exchange Road, Ortigas Center, Pasig City . 5-05-36Tel.
No.: 689-8080 Fax No.: 689-8066 Website: www.philequity.net EMAILA.
A'.rfcha . . :[email protected]
Tlw # 116-095-269-000
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SGVBuilding a betterworking world
SyCip Gorres Velayo & Co.6760 Ayala Avenue1226 Makati
CityPhilippines
Tel: (632) 891 0307Fax: (632) 819 0872ey.com/ph
BOA/PRC Reg. No. 0001,December 28, 2012, valid until December
31, 2015
SEC Accreditation No. 0012-FR-3 (Group A),November 15, 2012,
valid until November 16. 2015
INDEPENDENT AUDITORS' REPORT
The Stockholders and the Board of DirectorsPhilequity Fund,
Inc.2004-A East Tower, Philippine Stock Exchange CentreExchange
Road, Ortigas CenterPasig City
Report on the Financial Statements
We have audited the accompanying financial statements of
Philequity Fund, Inc. (an open-end mutualfund company), which
comprise the statements of financial position as at December 31,
2014 and2013, and the statements of comprehensive income,
statements of changes in equity and statements ofcash flows for
each of the three years in the period ended December 31, 2014, and
a summary ofsignificant accounting policies and other explanatory
information.
Management's Responsibilityfor the FinancialStatementsManagement
is responsible for the preparation and fair presentation of these
financial statements inaccordance with Philippine Financial
Reporting Standards, and for such internal control asmanagement
determines is necessary to enable the preparation of financial
statements that are fr