North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

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.

TSX:FFN - Post by User

North American Financial 15 Split Corp > FFN unit nav to JAN 31 = approx: $15.34

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Post by mousermanon Jan 31, 2023 6:57pm

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Post# 35258205

FFN unit nav to JAN 31 = approx: $15.34

So FFN ended up gaining almost the same as FTN despite the much lower total NAV $ in the fund.
Premium today is very small for one that is paying and still above 15$. I think some are waiting on the fed to see if they talk tuff and scare some people into selling.
Last trade @ $5.55 means FFN commons are trading only 39 cents above the $5.16 NAV value after distributions are paid out. Premium is only 7.5%. Strangely enough , the commons were trading at a higher premium when they were still under 15$ threshhold and only close to paying.

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Advancing an underexplored area of the Yukon with the same geology as B.C’.s Golden Triangle