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.

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North American Financial 15 Split Corp > NAV April 05

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Comment by mousermanon Apr 05, 2023 5:06pm

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Post# 35381934

RE:NAV April 05

So the update from Quadravest to March 31 @$13.66 unit nav , does take into the preferreds to be paid on April 10...i checked out my spreadheet and came to the same number $13.43 but after distributions to preferreds. Premium is a ridiculous 24% as the commons only have a value of $3.43.
Shorts are going to make a pile if they are patient in the upcoming recession. US banking system is still in trouble , and now even JPM 's Jamie Dimon is stating that. That is after Moody's, Standard and Poor, and Fitch rating agencies ALL downgraded the US banking.

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