World Financial Split Corp. Announces Year End Results
23 March 2018 - 9:49PM
(TSX:WFS) (TSX:WFS.PR.A) World Financial Split Corp. (the “Fund”)
announces results of operations for the year ended December 31,
2017. Increase in net assets attributable to holders of Class A
shares amounted to $2.30 million or $1.10 per Class A share. As at
December 31, 2017, net assets attributable to holders of Class A
shares were $9.99 million or $4.85 per Class A 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 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$10 billion and for non-Canadian issuers,
a minimum credit rating of “A-” from Standard & Poors Rating
Services or a comparable rating from an equivalent rating
agency.
The Fund employs a proprietary investment strategy, Strathbridge
Selective Overwriting (SSO), to enhance the income generated by the
Portfolio and to reduce volatility.
The Fund’s investment portfolio is managed by its investment
manager, Strathbridge Asset Management Inc. The Fund’s Preferred
and Class A shares are listed on Toronto Stock Exchange under the
symbols WFS.PR.A and WFS
respectively.
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Selected Financial Information: ($
Millions) |
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Statement of Financial Position |
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2017 |
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As at December 31 |
|
Assets |
$ 30.70 |
|
Liabilities (including Redeemable Preferred Shares) |
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(20.71) |
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Net Assets Attributable to Holders |
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of Class A shares |
$ 9.99 |
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Statement of Comprehensive Income |
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For the year ended December 31 |
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Income (including Net Gain on Investments) |
$ 4.18 |
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Expenses |
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(0.79) |
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Operating Profit |
|
3.39 |
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Preferred Share Distributions |
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(1.09) |
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Increase in Net Assets Attributable |
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to Holders of Class A Shares |
$ 2.30 |
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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.strathbridge.com.
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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 |
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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.
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