Canadian World Fund Limited Reports 2004 Operating Results.TORONTO -- Canadian World Fund Limited (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CWF CWF Colonial Williamsburg Foundation CWF Canada West Foundation (Economic Institute) CWF Canadian Wildlife Federation CWF Common Working File CWF Christian Women's Fellowship CWF Cool White Fluorescent CWF Campaign for Working Families ) had a solid finish in 2004 reflected by a net asset value return of 16.6% for the fourth quarter and 14.6% for the year, exceeding the benchmark, Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. All-Country World Free Index. The benchmark posted results of
11.9% and 13.3% for the corresponding periods, or 6.5% and 5.5% when
expressed in Canadian dollar terms. CWF's net assets Net assetsThe difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. at December 31, 2004 were $22,526,000 compared to the 2003 year-end value of $19,639,000. This resulted in a 2004 year-end net asset value per share (NAV See navigation system and navigation bar. ) of $5.49 compared to $4.79 for the prior year. CWF's portfolio reflected an unrealized gain Unrealized Gain A profit that results from holding on to an asset rather than cashing it in and using the funds. Notes: Let's say you own a stock that has doubled, but you haven't sold it yet. This is said to be an unrealized gain. on investments of $3,461,000 compared to $3,631,000 in 2003. Realized gains for the 2004 year were $3,317,000 compared to realized losses of $1,069,000 for 2003. Europe, including the U.K., continued to be the dominant portfolio segment at 46.6%. Followed by North America with a weighting of 26.9% and Asia at 21.6%. The top five holdings as at December 31, 2004 were The Stanley Gibbons Famous people named Gibbons include:
A synthetic object that resembles a missing anatomical part. Mentioned in: Microphthalmia and Anophthalmia and joint replacement manufacturer; Niko Resources Ltd., a Canadian oil and gas exploration and development company with operations in India and Bangladesh; and Iliad SA, the second largest French provider of wireless services. Total investment income for the year increased by 8.1% to $426,000 from $394,000 in 2003. Over the same period, total expenses increased by 26.4% resulting mainly from an increase in management fees caused directly by higher portfolio values. CWF had a net investment loss of $259,000 in 2004 compared to a loss of $141,000 in the prior year. CWF is a TSX listed global equities fund that provides one of few opportunities for bottom-up investment in securities of publicly traded primarily growth companies in a global portfolio.
FINANCIAL HIGHLIGHTS
(in thousands of dollars, except per share amounts)
For the Year Ended
December 31, 2004 December 31, 2003
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Net investment loss (259) (141)
Net realized gain (loss)
on investments 3,317 (1,069)
Change in unrealized gain on
Investments (170) 5,177
Increase in net assets resulting
from operations 2,888 3,967
Increase in net assets resulting
from operations - per share 0.70 0.97
As at
December 31, 2004 December 31, 2003
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Net assets 22,526 19,639
Net asset value per share 5.49 4.79
Canadian World Fund Limited (TSX:CWF) |
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