North American Financial 15 Split Corp. Pref Shs T.FFN.PR.A

North American Financial 15 Split Corp. is a 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, the amount of which is fixed on an annual basis 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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North American Financial 15 Split Corp. Pref Shs

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Post by mulgraveon Jul 07, 2013 11:16am

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Post# 21592878

June 28 distribution question

June 28th Quadravest site shows a .14 cent distribution or .10 for class A shares and .04 for preferred. In conflict with this distribution posting is the Quadravest news release that the distribution was limited to preferred shares only. Therefore Quadravest should not reduce the NAV by .14 cents. But instead only by .04 cents. The would establish the June 28 NAV at $15.27 and not $15.17.

The revised NAV is important when the July 15 NAV is calculated. Am I missing something???????

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