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 > FTN UNIT NAV to MArch 15th =APPROX: $20.93

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Comment by mousermanon Mar 16, 2021 2:07pm

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Post# 32808855

RE:RE:FTN UNIT NAV to MArch 15th =APPROX: $20.93

That only applies somewhat to the folks who bought only the commons at the high last few previous years. Those with preferreds + commons, collected some very nice distribution before the roof caved in. The pros would have had stoplosses in.

slst wrote:
It does seem that the roll back of FTN shares had the effect of permanently damaging the old holders A shares.

FFN is nearly back to precovid, while FTN when taking the rollback into account is still 30% behind. Safer, no doubt but a nasty permanent hair cut.

It will take 2 years of distribution to recover that loss. So sad.