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Life & Banc Split Corp T.LBS

Alternate Symbol(s):  LFBCF | T.LBS.PR.A

Life & Banc Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund's investment objective is to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions and the opportunity for growth in Net Asset Value per Class A share. To achieve these objectives, the Fund invests in a portfolio comprised of common shares of approximately six Canadian banks and four publicly traded Canadian life insurance companies. The Fund also writes covered call options and cash-covered put options in respect of the portfolio to generate additional distributable income for the Fund and/or to reduce the volatility of the Fund. The Fund's investment manager is Brompton Funds Limited.


TSX:LBS - Post by User

Post by mousermanon Mar 16, 2023 9:12am
195 Views
Post# 35342052

LBS unit nav to March 15 = approx: $17.14

LBS unit nav to March 15 = approx: $17.14So the spreadsheet is showing about a 90 cent loss in the UNIT NAV in 4 sessions since March 09 update.
That leaves the commons with a value of $7.14 before distributions. 10$ is always the value of the preferreds. The premium has grown to $1.46 BEFORE distributions, and now is  20.4 %
IN normal times this wouldnt be a unreasonable premium.  But i do think there will be bounces up , followed by bigger losses when we get news of smaller banks suffering from the contagion caused by the frequent big hikes in interest rates from central banks across the globe.
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