North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

Financial Services Asset Management

North American Financial 15 Split Corp. is a 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, the amount of which is fixed on an annual basis 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 > FFN UNIT NAV to Jan 24 = APPROX: $16.65

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Comment by mousermanon Jan 25, 2022 9:49am

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Post# 34357544

RE:RE:FFN UNIT NAV to Jan 24 = APPROX: $16.65

I am not talking about those who have a very low cost base , and are holding. I am talking about those now buying it at a premium to NAV, while the underwriters make a killing shorting this one.
The correction is not over in Financial stocks, and every stock in the fund is down again today.
Recent buyers in the offering are taking a vicious beating in a very short time...altho maybe the preferred are safe to own here. FFN heading for a 6$ valuation for the commons, and trading over $7.25, not hard to figure which way the stock price is headed.

Toppicks1 wrote:

mouserman wrote: SO that values the commons at about $6.65 before distributions, and despite being dumped because of the offering, FFN still trading at a healthy premium to NAV. Dividend pigs obviously chasing yield. After distributions FFN commons would have a value of $6.48... and that will begin to show up on ex dividend date....

I'm one of those pigs have owned 60000 shares for years. Don't know of any better divi returns any where. If your all about capital appreciation go els where. I get 6801 per month.