World Financial Split Corp. Announces Year End Results
March 24 2021 - 4:01PM
(TSX: WFS; WFS.PR.A) World Financial Split Corp.
(the “Fund”) announces results of operations for the year ended
December 31, 2020. Decrease in net assets attributable to holders
of Class A shares amounted to $2.30 million or $2.14 per Class A
share. As at December 31, 2020, net assets attributable to holders
of Class A shares were $1.57 million or $1.55 per Class A share.
Cash distributions to Preferred Shareholders totaling $0.56 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 |
|
2020 |
|
Assets |
$ |
11.75 |
|
Liabilities (including Redeemable Preferred Securities) |
|
(10.18 |
) |
Net Assets Attributable to Holders of Class A Shares |
$ |
1.57 |
|
|
|
|
Statement of Comprehensive Income for the year ended
December 31st |
|
|
|
Loss (including Net Gain on Investments) |
$ |
(1.32 |
) |
Expenses |
|
(0.42 |
) |
Operating Loss |
|
(1.74 |
) |
Preferred Share Distributions |
|
(0.56 |
) |
Decrease in Net Assets Attributable to Holders of Class A
Shares |
$ |
(2.30 |
) |
|
|
|
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 Jun 2024 to Jul 2024
World Financial Split (TSX:WFS)
Historical Stock Chart
From Jul 2023 to Jul 2024