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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

Financial 15 Split Corp
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Comment by Investor001on Mar 19, 2019 12:25am
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Post# 29504238

RE:RE:Fees and Expenses

RE:RE:Fees and ExpensesNevermind about the NAV - 10$ confusion. I just read this on their website:

Class A Shares:

 

(i) to provide holders of Class A Shares with regular monthly cash distributions in an amount to be determined by the Board of Directors; and
(ii) to permit holders to participate in all growth in the net asset value of the Company above $10 per Unit, by paying holders on or about the termination date of December 1, 2020 (subject to further 5 year extensions thereafter) such amounts as remain in the Company after paying $10 per Preferred Share.

Which means that as of right now with the current NAV net of distribution, the book value is 5.59$ per unit/share if I'm not mistaken.

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