Ann: Change in substantial holding, page-19

Hey. I have been pondering about exactly what SS is doing, by analysing their ann.

They list 7 types of transactions:
- in specie redemption (which reduces their share holdings)
- in specie application (increases)
- purchase (increases)
- sale (decreases)
- borrowing (increases)
- return (decreases)
- lending (increases)

I have no idea what the first two are.

I guess borrowing means SS borrows shares (for the purpose of shorting), and return means they return the said shares.

But "lending" is strange since they increase their holdings.

So, there were about 12,500k shares purchased in 7 transactions, and 156k sold in one transaction. But many millions were "borrowing". For these I assume they pay a fee, but never sold them - so how do they make money out of those?

Can anybody explain what is going on?

Why is SS borrowing shares - what are they doing with them?