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 > Mid-month numbers should be out in next couple days

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Comment by alkhoron Feb 16, 2021 6:09pm

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Post# 32580283

RE:RE:RE:RE:Mid-month numbers should be out in next couple days

Problem is, every Quadravest fund tend to migrate to the area of $15, meaning Class A shares go towards a NAV of $5. Quadravest makes money as long as investors keep buying the new offerings, so if the fund goes well below $15 and no sign of being able to recover, they do a consolidation and start over.

The class A shares are for playing with but do not invest in them if you are looking at long term stable income. The preferred shares are for that.

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