Life & Banc Split Corp T.LBS

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

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 growth in Net Asset Value per Class A share. 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

Life & Banc Split Corp

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Comment by Intellectualon Jun 24, 2015 10:58pm

273 Views

Post# 23866315

RE:RE:RE:RE:does anyone holding LBS?

Hi Yetta,

Your disdain is completely understandable. My advice to you is not to redeem the shares since you will only receive proceeds equal to the NAV of your holdings, whereas selling them on the open market will give you a substantial premium. Moreover, you don't have to wait till the next offer to redeem - you can sell at any time.

On the bright side, Brompton's offerings are often at prices not far from their current trading prices, so the discount is never too onerous.

Good luck!

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