RE:FYI, my UNIT NAV estimate to AUG 07 , =14.74 If People would just take the time to do the math, you are far better off owning the securities the fund holds. From Inception FTN has out performed only one of the securities it holds. And that is City Group. The rest have far out performed the fund. Take TD for instance. I bought that under $19.00 split adjusted in June of 2003. it was paying .32 cents per share quarterly. That has grown to .74 Cents per share quarterly today, plus I have double the shares I started with. TD today is worth $74.36 So just under 400% capital appreciation And a 10% dividend growth per year over the period. Do you know what FTN was trading at in June of 2003? About Three times it's net asset value today. So my point is.... Dividends are great, but not at the expense of Capital. "Leverage cuts both ways".
Good Luck to all.
mouserman wrote: Perhaps some missed the currency change , which decreased the US banks losses.
CAD banks have done better since JULY 31 , and FTN UNIT nav lost about .75 on my spreadsheet, if they still have 10% cash.
So at present FFN UNIT NAV at 14.80 is .06 higher than FTN ....
Neither are looking good for distributions to commons unless we see a nice big bounce in the next 7 trading sessions......
FFN a far better value , with a much lower premium to NAV.
FTN with a UNIT NAV of 14.74 and Commons NAV at 4.74 , those are trading at almost exactly a 50% premium to NAV.. unheard of for a split fund trading below the threshhold for paying to commons.
FFN not a great deal either by any stretch. It trades a 23% premium to NAV.
Much higher than some other split funds that are actually well above the threshhold for paying to commons