Annual Reports must be prepared by the managers in relation to the ICIS and must contain, as the minimum, the following:

• financial statements
• information on borrowings
• portfolio information
• report by the Manager (or Trustees), and
• report by Auditors

Half yearly reports must be prepared by the managers in relation to the ICIS and must contain, as the minimum, financial statements consisting of:

• the balance sheet
• an income & expenditure account
• a statement of the sources of income of the ICIS
• a statement of stamp duties, charges and fees paid, and
• a statement of income distribution or allocation

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