Financial Services Income Streams

Financial Services Income Streams

April 27, 2009 11:41 ET

Financial Services Income STREAMS: Financial Results for the Year Ending January 31, 2009

TORONTO, ONTARIO--(Marketwire - April 27, 2009) - Financial Services Income STREAMS Corporation ("FSI STREAMS") reports financial results for the year ending January 31, 2009.

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 -25.82% and -44.62% respectively for the S&P TSX Financial index and S&P 500 Financials index for the year ending January 31, 2009 evidenced the deterioration of financial and economic conditions on even these broad financial indices. Through this difficult period, the holdings in the managed portfolio have been negatively impacted. The managed portfolio declined to $12.29 per unit as at January 31, 2009. However, as a result of the general decline in interest rates, the Capital Yield shares repayment forward agreement increased to $24.34 per unit. The net asset value per unit was $36.63 as at January 31, 2009.

Selected Financial Information from the Statement of Operations:
For the Year ending January 31, 2009

($ Millions)

Income 0.501

Expenses (1.184)

Net investment income (loss) (0.683)

Realized option premiums and gain (loss) on sale of investments (0.284)

Change in unrealized depreciation on investments/forward agreements (3.577)

Decrease in net assets from operations before distributions (4.544)

Comparative financial information is available in documents filed on

The managed portfolio (the managed portion of the assets of FSI STREAMS not subject to the 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
    Investor Relations
    416-304-4443, toll free at 1-877-4-Quadra (1-877-478-2372)