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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.


TSX:FFN - Post by User

North American Financial 15 Split Corp
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Post by mousermanon Aug 29, 2022 7:18pm
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Post# 34928235

FFN unit nav to Aug 29 = approx: $ 14.20

FFN unit nav to Aug 29 = approx: $ 14.20So commons would have a value of about  $4.14 after distributions to preferreds. Last trade at $4.44 has some market participants bailing on these underwater split funds, and buying ones that pay consistently. And even with that the 30 premium equates to about 7.25%
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