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 > FFN unit nav to Nov 15 = approx: $15.05

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Post by mousermanon Nov 15, 2022 4:46pm

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Post# 35101300

FFN unit nav to Nov 15 = approx: $15.05

So combining the selling in the US banks and the rise in the CAD over the day, the gain since OCt. 31 is now only 47 cents or so. That puts the value of the commons at 5.05, and barely above the threshhold. I do believe they will qualify as the UNIT NAV has to 15$ or higher BEFORE distributions are paid, unlike Brompton.

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