Financial Services Income Streams
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Financial Services Income Streams

April 29, 2010 10:36 ET

Financial Services Income STREAMS: Financial Results for the Year Ending January 31, 2010

TORONTO, ONTARIO--(Marketwire - April 29, 2010) - Financial Services Income STREAMS Corporation ("FSI STREAMS") reports financial results for the year ending January 31, 2010.

The twelve month period ending January 31, 2010 was one of the most tumultuous periods in financial market history. Against this backdrop, the market prices of the financial services stocks in the managed portfolio mirrored this activity reaching lows in early March 2009 but recovering significantly by the end of January 2010. The net asset value as at January 31, 2010 ended $0.23 higher to $36.86 per unit over the prior year. The $0.23 per unit increase was comprised of $0.49 increase in the Capital Yield repayment forward agreement to $24.83 per unit and a decrease of $0.26 in the managed portfolio component to $12.03 per unit. The complete financial statements are available at www.financial15.com or www.sedar.com.

Selected Financial Information from the Statement of Operations:    
For the Year ending January 31, 2010    
  ($ Millions )
  Income 0.191  
  Expenses (1.127 )
  Net investment loss (0.936 )
  Realized option premiums and loss on sale of investments (0.857 )
  Change in unrealized appreciation on investments/forward agreements 3.968  
  Increase in net assets from operations before distributions 2.175  
  Comparative financial information is available in documents filed on www.sedar.com.    

The managed portfolio (the managed portion of the assets of FSI STREAMS not subject to the Capital Yield share repayment forward contract) is invested in a diversified portfolio of North American financial services stocks selected from the three major North American Financial services indices. The three indices are the TSX Financial Services Index, the S&P Financials Index and the S&P Midcap Financial Index. To provide additional returns above the dividend and interest income earned on the managed portfolio, a covered call writing program generates option premium income on stocks held in the portfolio.

Contact Information

  • Financial Services Income STREAMS Corporation
    Investor Relations
    416-304-4443 or Toll Free at 1-877-4-Quadra (1-877-478-2372)
    www.quadravest.com