World Financial Split Corp. Announces Semi-Annual Results
August 28 2019 - 4:01PM
(TSX: WFS; WFS.PR.A) World Financial Split Corp.
announces results of operations for the six months ended June 30,
2019. Increase in net assets attributable to holders of Class A
shares amounted to $0.26 million or $0.22 per Class A share. Net
assets attributable to holders of Class A shares as at June 30,
2019 were $3.27 million or $2.93 per Class A share. Cash
distributions of $0.26 per Preferred share were paid during the
period.
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 25% 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$10 billion and for non-Canadian issuers,
a minimum credit rating of “A-” from Standard & Poors Rating
Services or a comparable rating from an equivalent rating
agency.
The Fund employs a proprietary investment
strategy, Strathbridge Selective Overwriting (“SSO”), to enhance
the income generated by the portfolio and to reduce volatility. In
addition, the Fund may write cash covered put options in respect of
securities in which it is permitted to invest.
The Fund’s investment portfolio is managed by
its investment manager, Strathbridge Asset Management Inc. The
Fund’s Class A and Preferred shares are listed on Toronto Stock
Exchange under the symbols WFS and WFS.PR.A respectively.
Selected Financial Information: ($ Millions) |
Statement of Comprehensive IncomeFor the
six months ended June 30,
2019(Unaudited) |
|
|
Income (including Net Gain on Investments) |
$ |
0.84 |
|
Expenses |
(0.27 |
) |
Operating
Profit |
0.57 |
|
Preferred
Share Distributions |
(0.31 |
) |
|
|
Increase in Net Assets Attributable to Holders of Class A
Shares |
$ |
0.26 |
|
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 & CFO |
Strathbridge Asset Management Inc.121 King Street
WestSuite 2600Toronto, Ontario, M5H 3T9416.681.3966;
1.800.725.7172www.strathbridge.cominfo@strathbridge.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.
World Financial Split (TSX:WFS)
Historical Stock Chart
From Jul 2024 to Aug 2024
World Financial Split (TSX:WFS)
Historical Stock Chart
From Aug 2023 to Aug 2024