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 Jack256on Sep 22, 2019 3:42am

171 Views

Post# 30152314

RE:Look at LFE ... NAV getting within a few percent of $5

Handymanny wrote: I know I mentioned it before but this is now getting closer to $5 and trading at 3.38, just like the others it will pay at a $5 NAV

Yes it does trade at a substantial discount to nav but if you do the math on what it pays out to the preferred shares, the dividends from the portfolio come way short of covering them. So the portfolio has to perform extra hard to gain traction on the capital side. But you are right on saying this fund will jump if nav can get past the $5.00 mark.

Best of luck.

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