Capital Gains Income Streams

Capital Gains Income Streams

February 25, 2009 17:21 ET

Capital Gains Income STREAMS: Financial Results to November 30, 2008

TORONTO, ONTARIO--(Marketwire - Feb. 25, 2009) - Capital Gains Income STREAMS Corporation ("CGQ STREAMS") today announced its annual financial results for the year ending November 30, 2008.

By the end of 2008, the cumulative impact of the deterioration in financial and economic conditions created record lows in business, investor and consumer confidence and resulted in recessionary conditions throughout the world. In addition, the de-leveraging of hedge funds and other similar funds during the final months exacerbated market volatility and losses in financial markets. Market indices experienced declines not seen since the Great Depression of the 1930s. In North America, declines of -27.65% and -20.61% respectively for the S&P TSX 60 index and S&P 100 index for the year ending November 30, 2008 evidenced the deterioration of financial and economic conditions.

Throughout this difficult environment, the Canadian and US stocks held in the managed portfolio were negatively impacted. The net asset value per unit (a unit consists of one Equity Dividend share and one Capital Yield share) declined to $29.99 per unit as at November 30, 2008. The net asset value per unit was comprised of a $7.74 managed portfolio per unit and $22.25 per unit in the Capital Yield share repayment forward agreement.

CGQ STREAMS is a mutual fund corporation that invests in a diversified portfolio consisting principally of common shares issued by corporations whose shares are included in the S&P 500 and the S&P/TSX 60 Index.

Selected Financial Information from the Statement of Financial Operations:
For the year ending November 30, 2008
($ Millions)
Income 0.663
Expenses (1.282)
Net investment income (0.619)
Realized option premiums and gain on sale of investments 1.285
Change in unrealized depreciation on investments/forward
agreements (4.899)
Decrease in net assets from operations before distributions (4.233)

Comparative financial information is available in documents filed on

Contact Information

  • Capital Gains Income STREAMS
    Investor Relations
    (416) 304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)