Financial 15 Split Corp T.FTN

Alternate Symbol(s): FNNCF | T.FTN.PR.A

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company 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 an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 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 over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp

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Post by GoGetter1on Oct 17, 2014 7:27pm

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Post# 23039648

The Oct. 15th NAV's have just been posted

Quadravest was clever to add some addtional information this time. They not only posted the official Oct. 15th NAV but also the current level as well for Oct. 17th ; along with the following note:
*Oct 17th NAVS (being provided to investors in addition to Oct 15th NAVS due to recent volatility in financial markets).

Two weeks ago the NAV was $17.49 (Sept 30th)
OCT 15th NAV was $16.56
OCT 17th NAV is $16.82

October 15th was the recent low point for the market and the index has been bouncing back the last 2 days. $15.00 is the critical level for the NAV as that is the point where they suspend dividends. (which is about another 11% below current level) If the correction doesn't turn into a rout, then all should be fine.

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