Canadian Life Companies Split Corp.: Financial Results to November 30, 2009
February 25 2010 - 11:42AM
Marketwired Canada
Canadian Life Companies Split Corp. ("CLC Split") announces its annual financial
results for the year ending November 30, 2009.
The year ending November 30, 2009 was one of the most tumultuous periods in
financial market history. Against this backdrop, the market prices of the
Canadian life insurance companies stocks in the portfolio mirrored this activity
reaching lows in early March but recovering significantly by the end of
November. The net asset value as at November 30, 2009 ended at $14.92 which
reflected a decline of $1.12 per unit over the prior year. The complete
financial statements are available at www.lifesplit.com or www.sedar.com.
CLC Split invests primarily in a core portfolio of four publicly traded Canadian
life insurance companies as follows: Great-West Life, Industrial Alliance,
Manulife Financial and Sun Life Financial. Shares held within the portfolio are
expected to range between 10-30% in weight but may vary at any time.
Selected Financial Information from the Statement of Financial
Operations:
For the year ending November 30, 2009
($ Millions)
Income 5.605
Expenses (1.400)
------------
Net investment income 4.205
Realized option premiums and gain (loss) on sale of
investments (11.956)
Change in unrealized appreciation of investments 6.745
------------
Decrease in net assets from operations before distributions (1.006)
Comparative financial information is available in documents filed on www.sedar.com.
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