World Financial Split Corp. has released its Annual Report to December 31, 2010.
| WFS / WFS.PR.A Performance |
| Instrument |
One
Year |
Three
Years |
Five
Years |
| Whole Unit |
-7.70% |
-10.89% |
-6.53% |
| WFS |
-49.49% |
-42.44% |
-29.39% |
| WFS.PR.A |
+5.35% |
+5.35% |
+5.35% |
| MSCI World/Finance Index |
-0.23% |
-13.51% |
-8.75% |
Figures of interest are:
MER: 1.51% of the whole unit value, excluding one time initial offering expenses.
Average Net Assets: We need this to calculate portfolio yield; unfortunately the number of units changesd, which makes it more approximate. The Total Assets of the fund at year end was $76.6-million, compared to $107.3-million a year prior, so call it an average of $92.0-million. Total Preferred Share Distribution in 2010 was $3.888-million, at $0.525/share implies an average of 7.41-million units, at an average NAV of ((11.57 + 13.11) / 2 = 12.34, so call it $91.4-million. Close enough! Call the Average Net Assets $92-million.
Underlying Portfolio Yield: Investment income (sum of interest, dividends and withholding taxes) of $1.964-million received divided by average net assets of $92-million is 2.13%.
Income Coverage: Net investment income of $1.964-million less expenses before issuance fees of $1.743-million is $0.221-million, to cover preferred dividends of 3.888-million is just under 6%.
WFS.PR.A was last mentioned on PrefBlog when a term extension proposal was announced.
This entry was posted on Tuesday, April 26th, 2011 at 8:35 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
WFS.PR.A Annual Report 2010
World Financial Split Corp. has released its Annual Report to December 31, 2010.
Year
Years
Years
Figures of interest are:
MER: 1.51% of the whole unit value, excluding one time initial offering expenses.
Average Net Assets: We need this to calculate portfolio yield; unfortunately the number of units changesd, which makes it more approximate. The Total Assets of the fund at year end was $76.6-million, compared to $107.3-million a year prior, so call it an average of $92.0-million. Total Preferred Share Distribution in 2010 was $3.888-million, at $0.525/share implies an average of 7.41-million units, at an average NAV of ((11.57 + 13.11) / 2 = 12.34, so call it $91.4-million. Close enough! Call the Average Net Assets $92-million.
Underlying Portfolio Yield: Investment income (sum of interest, dividends and withholding taxes) of $1.964-million received divided by average net assets of $92-million is 2.13%.
Income Coverage: Net investment income of $1.964-million less expenses before issuance fees of $1.743-million is $0.221-million, to cover preferred dividends of 3.888-million is just under 6%.
WFS.PR.A was last mentioned on PrefBlog when a term extension proposal was announced.
This entry was posted on Tuesday, April 26th, 2011 at 8:35 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.