Financial 15 Split Corp. II
TSX : FFN
TSX : FFN.PR.A

Financial 15 Split Corp. II

July 29, 2009 17:35 ET

Financial 15 Split Corp. II: Financial Results to May 31, 2009

TORONTO, ONTARIO--(Marketwire - July 29, 2009) - Financial 15 Split Corp. II ("Financial 15 II") announces its semi-annual financial results for the six months ending May 31, 2009.

The six month period ending May 31, 2009 was one of the most tumultuous periods in financial market history. Against this backdrop, the market prices of the financial services stocks in the portfolio mirrored this activity reaching lows in early March but recovering significantly by the end of May. The net asset value as at May 31 ended $0.59 higher to $13.72 per unit over the six month period. Preferred shareholders received all distributions at their fixed rate for a total of $0.2625 per share. As a result of the net asset value remaining below the $15 threshold for the entire period, no distributions were made to Class A shareholders.

Financial 15 II invests in a portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The Bank of Nova Scotia, CIBC, Royal Bank, Toronto-Dominion Bank, National Bank of Canada, ManuLife Financial, Sun Life Financial, Great-West Lifeco, CI Financial Income Fund, Bank of America, Citigroup, Goldman Sachs Group, JP Morgan & Chase, Wells Fargo. Shares held within the Portfolio are expected to range between 4-8% in weight but may vary from time to time.



Selected Financial Information from the Statement of Financial Operations:
For the six months ending May 31, 2009

($ Millions)
Income 2.109
Expenses (0.390)
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Net investment income 1.719
Realized option premiums and gain (loss) on sale of investments (1.525)
Change in unrealized appreciation of investments 4.873
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Increase in net assets from operations before distributions 5.067


Comparative financial information is available in documents filed on www.sedar.com.

Contact Information

  • Financial 15 Split Corp. II
    Investor Relations
    416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)
    www.financial15.com