North American Financial 15 Split Corp. Pref Shs T.FFN.PR.A

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. Its investment objectives with respect to class A shares are to provide holders of class A shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.

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North American Financial 15 Split Corp. Pref Shs

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Comment by JReynoldson May 13, 2013 4:18am

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Post# 21383650

RE: NAV, dividends, call premiums, management fees

I'd put it in another way, if the quantum of the dividends paid out is not that high, and the call premiums earned is meagre, then it wouldn't really touch the nav to the extent that it affects out payout threshold. What we need to do is just to go along with the model that Rainham has developed earlier, and base our hold, buy or sell decisions over that model.

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