World Financial Split Corp. Announces Year End Results

TORONTO, March 29, 2023 (GLOBE NEWSWIRE) -- (TSX: WFS; WFS.PR.A) World Financial Split Corp. (the “Fund”) announces results of operations for the year ended December 31, 2022. Decrease in net assets attributable to holders of Class A shares amounted to $2.11 million or $2.30 per Class A share. As at December 31, 2022, net assets attributable to holders of Class A shares were $1.05 million or $1.15 per Class A share. Cash distributions to Preferred Shareholders totaling $0.48 million or $0.53 per Preferred share were paid during the year.

The Fund is a mutual fund corporation which invests in a portfolio that includes common equity securities selected from the ten largest financial services or real estate companies by market capitalization in each of Canada, the United States and the Rest of the World (the “Portfolio Universe”). The issuers of securities in the Portfolio, other than Canadian issuers, must have a minimum credit rating of “A” from Standard & Poor's Rating Services or a comparable rating from an equivalent rating agency.

In addition, up to 25% of the Net Asset Value of the Fund may be invested in common equity securities of financial services or real estate companies not included in the Portfolio Universe as long as such companies have a market capitalization at the time of investment of at least US$10 billion and for non-Canadian issuers, a minimum credit rating of “A-” from Standard & Poor's Rating Services or a comparable rating from an equivalent rating agency.

The Fund employs an active covered call strategy to enhance the income generated by the Portfolio and to reduce volatility.

The Fund’s investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. The Fund’s Preferred and Class A shares are listed on Toronto Stock Exchange under the symbols WFS.PR.A and WFS respectively.

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172, email at [email protected] or visit www.mulvihill.com.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.