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Financial 15 Split Corp T.FTN

Alternate Symbol(s):  T.FTN.PR.A | FNNCF

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company 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 an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 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 over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.


TSX:FTN - Post by User

Bullboard Posts
Post by agoldbloomon Oct 11, 2018 8:54am
134 Views
Post# 28779452

NAV

NAVIt's too bad they don't update their NAV weekly so that people have a clearer picture of how safe the dividend is.  I noticed that someone posted a couple comparables, but it's the US holdings that dominate in the fund from the last quarterly.  That being said, you're getting paid to wait.  It's not like the NAV is at $15 and there's a question about whether it's coming this month, like with some of the other funds.  There's going to be a return to normal markets at some point and financials tend to lead, in the meantime, this fund is paying an outstanding 20% while you wait.  Any return to normalcy means that the premium that these funds tend to carry with return and there will be capital gains as well.
Bullboard Posts