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Life & Banc Split Corp T.LBS

Alternate Symbol(s):  T.LBS.P.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.


TSX:LBS - Post by User

Post by oldbrit34on Jan 22, 2024 11:23am
137 Views
Post# 35838975

LBS v BANK

LBS v BANKBANK has been a Split I have ignored because I incorrectly assumed that with a name of BANK it was made up of banks only and I now find that it is similar to LBS  except it also includes Power Corp which is no shabby outfit .The TSX and my bank both incorrectly report the yield as under 14% . As a result I concentrated on FTN and BK . BANK has a true yield of 16.48% versus LBS of 15.58%. BANK has a NAV of $7.26 and LBS has $7.12 as of today. This gives BANK a negligble premium  but LBS is around 8%. BANK has no preffs but is a smaller fund  ( around $100 million ) and trades slightly less than LBS. So would someone tell me what is wrong with BANK that nobody appears to be interested in it if I take the lack of Blogs about it on Stockhouse as an indicator ?
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