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

Financial 15 Split Corp

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Comment by navgodon Feb 13, 2019 4:52pm

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Post# 29360778

RE:RE:WHY FTN IS GROSSLY UNDERVALUED

Quickly reviewing your analysis two additional issues come up 1) if adjusted for the leverage inherent in FTN ie FTN.pr.a the outperformance would turn into underperformance versus the underlying portfolio and 2) looking forward from today the huge premium over NAV FTN currently carries would act as a millstone around its neck in any absolute or relative performance. Your thoughts?

On my reaction to ryangazder's original post, I will have to wait until I "literally" stop laughing.

NAVGOD

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