World Financial Split Corp.: Announces Year End Results
29 3월 2011 - 10:25PM
Marketwired
World Financial Split Corp. (TSX: WFS)(TSX: WFS.PR.A) announces
results for the year ended December 31, 2010. Net realized loss
before distributions amounted to $(12.4) million or $(1.64) per
unit. Net assets were $11.57 per unit, net of distributions to
shareholders in the amount of $0.53 per Preferred share.
The Fund is a mutual fund corporation which invests in a
portfolio that includes common equity securities selected from the
ten largest financial services companies by market capitalization
in each of Canada, the United States and the Rest of the World (the
"Portfolio Universe"). The issuers of securities in the Portfolio,
other than Canadian issuers, must have a minimum credit rating of
"A" from Standard & Poor's Rating Services or a comparable
rating from an equivalent rating agency.
In addition, up to 20% of the Net Asset Value of the Fund may be
invested in common equity securities of financial services
companies not included in the Portfolio Universe as long as such
companies have a market capitalization at the time of investment of
at least US$10 billion and for non-Canadian issuers, a minimum
credit rating of "A" from Standard & Poors Rating Services or a
comparable rating from an equivalent rating agency.
To generate additional returns, the Fund may, from time to time,
write covered call options in respect of all or part of the common
shares in the Portfolio. In addition, the Fund may write cash
covered put options in respect of securities in which the Fund is
permitted to invest.
The Fund's investment portfolio is managed by its investment
manager, Mulvihill Capital Management Inc. The Fund's Preferred and
Class A shares are listed on Toronto Stock Exchange under the
symbols WFS.PR.A and WFS respectively.
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Selected Financial Information: ($ Millions)
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Statement of Financial Position 2010
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Assets $ 80.4
Liabilities 70.0
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Equity $ 10.4
Statement of Operations
Revenue $ 2.0
Expenses (1.9)
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Net Investment Income $ 0.1
Net Realized Loss on Investments (12.5)
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Net Realized Loss before Distributions $ (12.4)
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For further information, please contact Investor Relations at
416.681.3966, toll free at 1.800.725.7172 or visit
www.mulvihill.com.
Commissions, trailing commissions, management fees and expenses
all may be associated with investment funds. Please read the
prospectus before investing. Investment funds are not guaranteed,
their values change frequently and past performance may not be
repeated.
Contacts: Mulvihill Structured Products John Mulvihill President
and CEO 416.681.3966 or 1.800.725.7172 Mulvihill Structured
Products David Roode President, Fund Services 416.681.3966 or
1.800.725.7172 Mulvihill Structured Products Aaron Ho
Vice-President, Finance 416.681.3966 or 1.800.725.7172 Mulvihill
Structured Products 121 King Street West, Suite 2600 Toronto,
Ontario, M5H 3T9 416.681.3966 or 1.800.725.7172 info@mulvihill.com
www.mulvihill.com
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