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.

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North American Financial 15 Split Corp

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Post by mousermanon Mar 18, 2021 3:14pm

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CAD dropping vs USD , adding to FFN gains

Wow talk about volatile, as at one point today CAD was up at nearly 80.85,, and has dropped almost a penny in a few hours. Likely the poor economic data coming out of Canada today, has lowered the loonie.
This does help FFN more than any other split fund i follow, as I believe right now the US holdings are a bigger % of the fund.
Hard to get an exact number on these split funds, right after an offering is completed.
But the offering was done a quite a premium to the NAV at the time, so actually increased the NAV even if they didnt get to put the new funds to work right away.

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