World Financial Split Corp. Announces Year End Results

21/03/2019 21:01

TORONTO, March 21, 2019 (GLOBE NEWSWIRE) -- (TSX: WFS; WFS.PR.A) World Financial Split Corp. (the “Fund”) announces results of operations for the year ended December 31, 2018. Decrease in net assets attributable to holders of Class A shares amounted to $3.47 million or $2.10 per Class A share. As at December 31, 2018, net assets attributable to holders of Class A shares were $3.23 million or $2.72 per Class A share.  Cash distributions to Preferred shareholders totaling $0.85 million or $0.53 per Preferred share were paid during the year.

The Fund is a mutual fund corporation which invests in a portfolio that includes common equity securities selected from the ten largest financial services or real estate 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 25% of the Net Asset Value of the Fund may be invested in common equity securities of financial services or real estate 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.

The Fund employs a proprietary investment strategy, Strathbridge Selective Overwriting (SSO), to enhance the income generated by the Portfolio and to reduce volatility.

The Fund’s investment portfolio is managed by its investment manager, Strathbridge Asset 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.

Selected Financial Information: ($ Millions)  
Statement of Financial Position as at December 31st 2018
Assets$15.27
Liabilities (included Redeemable Preferred Securities) -12.04
Net Assets Attributable to Holders of Class A Shares$3.23
Statement of Comprehensive Income for the year ended December 31st  
Loss (including Net Loss on Investments)$-1.95
Expenses -0.67
Operating Loss -2.62
Preferred Share Distributions -0.85
Decrease in Net Assets Attributable to Holders of Class A Shares$-3.47
   

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com.

John Germain, Senior Vice-President & CFOStrathbridge Asset Management Inc.
121 King Street West
Suite 2600
Toronto, Ontario, M5H 3T9
416.681.3966; 1.800.725.7172

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.

Primary Logo

More News

Belmont Obtains Water Rights Permit on Kibby Basin Property & Updates Completion of KB-4 Drilling

21/03/2019 08:06

VANCOUVER, BC / ACCESSWIRE / March 21, 2019 / Belmont Resources Inc. ("Belmont" or the "Co...

LeadFX Provides an Update to the Closing of the Plan of Arrangement

21/03/2019 01:06

LeadFX Provides an Update to the Closing of the Plan of Arrangement Canada NewsWir...

Concerned Shareholders of Guyana Goldfields Engage Third-Party to Provide Independent Review of Aurora Mine Resource Model

20/03/2019 19:05

Concerned Shareholders of Guyana Goldfields Engage Third-Party to Provide Independent Revi...

Terms and condition | Privacy Statement

Financial.org is an educational platform. We DO NOT deal with securities and receive any financial benefits from Financial Products & Service Providers.