Financial Services Income Streams

Financial Services Income Streams

April 25, 2007 12:21 ET

Financial Results for the Year Ending January 31, 2007

TORONTO, ONTARIO--(CCNMatthews - April 25, 2007) - Financial Services Income STREAMS Corporation ("FSI STREAMS") reports financial results for the year ending January 31, 2007.

The net asset value per unit (1 Equity Dividend share and 1 Capital Yield share) increased, after the payment of Equity Dividend share distributions, by $1.64 to $45.92 as at January 31, 2007. The Managed Portfolio per unit was $24.87 as at January 31, 2007.

During the year, Equity Dividend shareholders received distributions at the annual target rate of 7%. Capital Yield shareholders did not receive a distribution during the year as per the variable distribution program. Since inception of Financial Services Income STREAMS in October 2000 to January 31, 2007, Equity Dividend Shareholders have received a total of $11.03 per share and the Capital Yield Shareholders have received a total of $4.25 per share.

Selected Financial Information from the Annual Statement of Operations:
For the Year Ending January 31 ($ Millions)

Income 0.640

Expenses (0.973)
Net investment income (0.333)

Realized option premiums and gain on sale of investments 2.931

Change in unrealized appreciation on investments/forward agreements 2.540
Increase (decrease) in net assets from operations before
distributions 5.138

Comparative financial information is available in documents filed on

Comparative financial information is available in documents filed on

FSI STREAMS is a mutual fund corporation that invests in a diversified portfolio consisting of common shares issued by companies included in the TSX Financial Services Index, the S&P Financials Index or the S&P Midcap Financials Index. FSI STREAMS was launched on October 11, 2000 and its investment portfolio is actively managed by Quadravest Capital Management.

FSI STREAMS' investment objectives are to provide holders of Equity Dividend shares with; (i) monthly cash dividends in the amount of $0.1458 per share to yield 7.0% per annum, and (ii) to return the original issue price of $25.00 at termination (February 1, 2011). The objectives for holders of Capital Yield shares are to provide; (i) monthly cash dividends based on a variable distribution program, and (ii) to return the original issue price of $25.00 at termination (February 1, 2011) by way of a forward agreement with TD Global Finance (a guaranteed subsidiary of the TD Bank). Capital Yield Shareholders will also receive on termination date, the pro rata share of the balance, if any, of the Managed Portfolio after paying the holders of the Equity Dividend Shares $25.00 per Equity Dividend share.

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