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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
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Post by mousermanon Feb 04, 2022 5:44pm
245 Views
Post# 34399790

FTN unit nav to Feb 4 = approx: $22.65

FTN unit nav to Feb 4 = approx: $22.65SO FTN has gained 56 cents since the JAN 31 update , and only BK had a bigger gain in that time.
FTN however is trading at a discount, and BK at a slight premium. 
FTN commons would carry a value of 12.65 today, and last trade at 12.20 leaves them trading at quite a big discount  of 3.6%.
DFN another that trades at a discount, however a bit less than FTNs.
DFN yield is at 14.45%, and FTN @ 12.36%. In this risk on market, yield seems to be the driver of premiums....
DF with just over a  dollar of safety above the threshhold for paying has a 5.2% premium..but the yield is high at 18.63%. ONLY LFE of the paying split fund commons has a higher yield @22.9% at the close today. 
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