115
2014 ANNUAL REPORT
30 Structured entities
The Group sponsors several structured entities which are not consolidated as the Group is not deemed to be in control of
those entities. The Group considers itself to be sponsor of a structured entity when it facilitates the establishment of the
structured entity. The Group may hold an interest in some of these entities.
These structured entities include Mutual Funds and Retirement Benefit Plans which are financed through the issue of
units to investors in the funds. The Group generates fees from managing the assets of these funds on behalf of the third party
investors. For the year ended September 30, 2014, the Group earned $12.5 million in management fees from the retirement
plans and $95.7 million from the mutual funds.
The Group holds an interest of $21.6 million in sponsored funds as at September 30, 2014. The maximum exposure to
loss in these funds is the carrying value of the assets held by the Group. These values are all included in the Investment
securities portfolio of the Group as at September 30, 2014.
