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82GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 201512. Cash and short%u2013term deposits (continued)Mutual Fund (ANSA secured fund)As at 31 December 2015, an amount of $14.3 million (2014: $41.6 million) was invested in a mutual fund where a fellow subsidiary (ANSA Merchant Bank Limited) in the ANSA McAL Limited Group of Companies acts as the sponsor, investment manager, administrator, and distributor of the fund. In addition, this fellow subsidiary has guaranteed 100% return of the principal invested in the Fund subject to a minimum period of investment, and a fxed minimum yield on the units held subject to a defned period of time, established at the time of purchase. The average rate of return earned on these funds was 1.25% per annum (2014: 1.54%).Income Fund (ANSA Income fund)As at 31 December 2015, an amount of $54.8 million (2014: $56.2 million) was invested in an income fund where a fellow subsidiary (ANSA Merchant Bank Limited) in the ANSA McAL Limited Group of Companies acts as the sponsor, investment manager, administrator, and distributor of the fund. The average rate of return earned on these funds was 1.75% per annum (2014:1.93%).13. Stated capital and treasury shares2015 2014$ $Issued and fully paid29,297 6% cumulative participating preference shares 1,465 1,46540,000,000 ordinary shares of no par value 25,823 25,82327,288 27,288The Company is authorised to issue an unlimited number of ordinary shares of no par value.(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)