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North American Financial 15 Split Corp T.FFN

Alternate Symbol(s):  FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It 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 the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price 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 for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.


TSX:FFN - Post by User

North American Financial 15 Split Corp
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Post by mousermanon Feb 25, 2021 12:19am
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Post# 32655312

FFN unit NAV to FEB 24 = $16.01

FFN unit NAV to FEB 24 = $16.01SO my spreadsheet has FFN gaining .79 since the feb 12 update.
Amazing run up in a very short time, both the US banks and the CAD banks seeing some strong buying. 
After distributions the commons would carry a value  of $5.84
Last trade at 6.74 leaves the premium up at .90 or about  15.4 %. Now the biggest premium given to any of the quadravest funds, and the BROMPTON funds dont appear deserving of premiums , at least not according to the market.
DFN , the other Quadravest fund trading at a premium has however  dropped down to  approx: 12% since the latest offering. Not real sure on how much cash DFN is now carrying.. so just a guess there.
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