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Bullboard - Stock Discussion Forum
North American Financial 15 Split Corp
T.FFN
Alternate Symbol(s):
FNCSF
North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It 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 the amount...
of over 5.5% annually and to pay the holders of the preferred shares a certain price 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 for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.
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Bullboard (TSX:FFN)
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(5298)
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mouserman
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Post by
mouserman
on Nov 26, 2024 9:41am
red start to the day, ahead of US Thanksgiving
Not very much green happening in the funds.. but probably a healthy correction today.. and will see if it lasts.
(5298)
•••
mouserman
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Post by
mouserman
on Nov 26, 2024 9:12am
USD now up vs CAD
So should boost the NAV on FFN.. bigtime today. CAD banks stocks look to open flat or weak today, which wont help FTN, but will boost FFN..
(186)
•••
maxjac
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Comment by
maxjac
on Nov 25, 2024 9:34pm
RE:Dashboard question
Hi @NoShoesNoShirt, I noticed the same. The graph takes the NAV after distribution at 6PM each day (which is now at 18.329 as of 9PM). Might be the exchange rate that increased by about 10 cents
...more
(227)
•••
NoShoesNoShirt
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Post by
NoShoesNoShirt
on Nov 25, 2024 8:49pm
Dashboard question
The graph says 18.22, but the green box has 18.53. Below the green box is the amount after distributions 18.34. Is the graph taking off 2 distributions?
(5298)
•••
mouserman
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Post by
mouserman
on Nov 25, 2024 5:44pm
FFN guesstimate to Nov 25 = approx; $18.46 before dist.
Not sure why i am a bit higher than the dashboard.. made a few minor adjustments and have not had time to look and see where the descrepancy could be. At any rate , after dist. the NAV of the commons
...more
(10)
•••
azzurri
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Comment by
azzurri
on Nov 25, 2024 4:14pm
RE:RE:FFN Retraction, Redemption, and DD
The discount on the class A shares is approaching a $1 again. Personally, I would be in favour of a forward split in the class A's following retraction as a means of rebalancing the shares of
...more
(68)
•••
navgod
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Comment by
navgod
on Nov 25, 2024 1:43pm
RE:RE:RE:FFN Retraction, Redemption, and DD
Don't get too excited just yet - my understanding is that shares will only be recirculated if they can be sold for more than the retraction NAV value during the first two weeks of Dec ie before
...more
(227)
•••
NoShoesNoShirt
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Comment by
NoShoesNoShirt
on Nov 25, 2024 12:52pm
RE:RE:FFN Retraction, Redemption, and DD
This is the best news on FFN lately. Navgod, mouserman, flamingogold, anyone else, can you confirm this possibility? If everyone is chickening out and I can buy this cheap, wow!
(53)
•••
Inglewood
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Comment by
Inglewood
on Nov 25, 2024 11:47am
RE:RE:FFN Retraction, Redemption, and DD
Yet another thing I did not know... my fault for not closely reading the prospectus and other related documents.
(29)
•••
elonmuskrat247
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Comment by
elonmuskrat247
on Nov 25, 2024 11:46am
RE:FFN Retraction, Redemption, and DD
Retracted shares can also be recirculated as per the September 2004 agreement. So, the retracted shares may be bought and resold by National bank and CIBC thus negating the need for consolidation or
...more
(53)
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Inglewood
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Comment by
Inglewood
on Nov 25, 2024 11:41am
RE:FFN Retraction, Redemption, and DD
Thank you, Navgod. Really appreciate you for alerting us and explaining how NAV can be affected by a consolidation or a split. I honestly did not understand this prior to reading your post and would
...more
(5298)
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mouserman
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Post by
mouserman
on Nov 25, 2024 10:19am
FFN off and running today
Dasshboard showing $18.47... for UNIT NAV.. before distributions. Navgod will be making out like a bandit, but those holding are not suffering too much.. so far.. FTN another good one to be holding..
(68)
•••
navgod
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Post by
navgod
on Nov 25, 2024 8:59am
FFN Retraction, Redemption, and DD
Holders of FFN and FFN.pr.a who have not submitted to the special retraction should go to the Quadravest website and pull up the most recent Annual Information Report under Documents for FFN. Under
...more
(59)
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marcrobert
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Comment by
marcrobert
on Nov 22, 2024 4:41pm
RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Don't sell FFN, buy more.
navgold - what was the second option you suggested? Arbitraging the retraction process is not really something i've done work on, although i guess it could make sense in registered accounts. I
...more
(5298)
•••
mouserman
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Post by
mouserman
on Nov 22, 2024 2:04pm
dashboard update @ $18.345 UNIT NAV to 2 est.
So still tracking very close to my spreadsheet. Last sale on FFN @ $7.58.. and that would make the discount 77 cents or so or about 9.2 %...not many better deals out there as far as
...more
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