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.

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North American Financial 15 Split Corp > Market depth by price ...

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Comment by EdPaquetteon May 19, 2022 11:31am

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Post# 34695457

RE:RE:RE:RE:RE:Market depth by price ...

If anything, I'd expect a consolidation more than an overnight offering.

mouserman wrote:
Have yet to see Quadravest do an offering on a split fund with the NAV for commons well below the threshhold for paying. For one thing, it is not an easy sell. People want to buy these units for income...
Prospectus has some limitations on when an offering can be done.

Snowsnake wrote:
Since the NAV is not affected by the share price, and since Quadravest gets paid based on NAV, I really don't see how Quadravest could be the big buyer. If anything, Quadravest would rather see the price of the Preferred shares go up (rather than the Class A shares) so an offering over NAV would be possible, thereby increasing the size of the fund and the total fees they can charge.