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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

Bullboard Posts
Post by wolverine99on Oct 09, 2018 4:26pm
482 Views
Post# 28768840

Weakness

WeaknessI received the following response from Quadravest earlier today when asking for their comment on current SP decline: The Class A shares typically trade off of yield and at a premium to their intrinsic value (net asset value less $10 for the preferred share) however the market will ultimately dictate the trading price. Most investors are long-term and adopt a buy/hold strategy for the monthly income therefore trading volumes are typically low. Because of this, the buying or selling of shares can have a greater impact on the market price. We understand your concern, however please be assured there was no news and there is no pending from the Company to warrant the recent heightened trading volume. There appears to be an increase in volume across many structured products. Also, there has been no material change to the overall value of the underlying holdings of the Company.
Bullboard Posts