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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 > FTN unit NAV jumps to $22 to OCT 15
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Comment by navgodon Oct 19, 2021 5:56pm
139 Views
Post# 34024724

RE:RE:FTN unit NAV jumps to $22 to OCT 15

RE:RE:FTN unit NAV jumps to $22 to OCT 15
PileOfShit wrote:
mouserman wrote: FTN now has gained 68 cents since the sept 30 update

We can now judge the accuracy of mouserman's Oct 15 prediction of the Oct 15 NAV.  Change estimate: 68¢.  Actual: 48¢.  Verdict: missed by 20¢.  (Class A NAV estimate: 11.51 + 0.68 = 12.19.  Actual: 11.99.)

Mouserman (I don't know if his name should be capitalized at the start of a sentence) should be commended for his valiant effort.  Why was his estimate 20¢ over?  I suspect he could not account for the fund's sold call options, which carry negative delta, and they're a capital gains dampener; i.e. they are negative for NAV if the underlying stocks rally, and positive for NAV if the underlying stocks tank.


POS please clarify I have FTN nav 11.32 on sep 30 so mouserman est. is out by a penny. Great analysis of a nonevent, better luck next time.

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