Canadian Life Companies Split Corp T.LFE.PR.B

Primary Symbol: T.LFE Alternate Symbol(s): CLSPF

The Companys investment objectives are (i) to provide holders of Preferred Shares with fixed cumulative preferential monthly cash dividends in the amount of $0.04375 per Preferred Share to yield 5.25% per annum on the original issue price (ii) to provide holders of Class A Shares with regular monthly cash distributions targeted to be $0.10 per Class A Share to yield 8.0% per annum on the original issue price and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012. The Company will invest primarily in a portfolio of common shares of Proceeds: (the ``Portfolio) which will include the following publicly traded Canadian life insurance companies (the ``Portfolio Companies), each of whose shares will generally represent no less than 10% and no more than 30% of the net asset value (``Net Asset Value) of the Company: Great-West Lifeco Inc.

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Canadian Life Companies Split Corp > Still trading at a 20% discount to NAV!!!

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Comment by mousermanon Apr 29, 2023 10:35am

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RE:Still trading at a 20% discount to NAV!!!

I think the payout history of LFE , is one of the reasons for the discount. That being said i think the upside for LFE is greater than for FFN which trade at a premium with a similar UNIT NAV.
LFE is not the same animal as LCS tho, as they have some banks included in their holdings. These holdings are minor tho, and the big 4 CAD lifecos are still their main holdings.
Low interest environments are worst for lifecos, and rising interest rates are the best environment.
I havent done up the spreadsheet in LFE in a while. WIll have a quick boo at what the holdings looked like last sedar report.

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