Life & Banc Split Corp T.LBS

Alternate Symbol(s): T.LBS.PR.A | LFBCF

Life & Banc Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund's investment objective is to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions and the opportunity for capital appreciation. To achieve these objectives, the Fund invests in a portfolio comprised of common shares of approximately six Canadian banks and four publicly traded Canadian life insurance companies. The Fund also writes covered call options and cash-covered put options in respect of the portfolio to generate additional distributable income for the Fund and/or to reduce the volatility of the Fund. The Fund's investment manager is Brompton Funds Limited.

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Life & Banc Split Corp > Brompton reports LBS unit NAV @ $17.63 to AUG 04

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Post by mousermanon Aug 05, 2022 6:34pm

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Post# 34875483

Brompton reports LBS unit NAV @ $17.63 to AUG 04

After the preffered portion is taken off the commons have a value of $7.58 as of the close yesterday.
Today the UNIT NAV will have gained about 8 cents, so would be $17.71
Value of the commons today would be around $7.66. Premium would be 99 cents at the close of $8.65
Works out to 12.9 %. One of the lowest premiums in the split funds i watch. FTN today would have a premium of just over 10% , and pays about 16.7% yield per annum. Only one i see that is a better value considering lowest premium to NAV.

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