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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.


TSX:FFN - Post by User

North American Financial 15 Split Corp > FFN unit nav to May 4 = approx: $13.27
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Comment by AnEducatoron May 05, 2023 12:45am
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Post# 35432143

RE:FFN unit nav to May 4 = approx: $13.27

RE:FFN unit nav to May 4 = approx: $13.27Surprisingly, the fund manager decreased the cash position by 1% while increasing U.S. exposure by the same amount. This is disappointing. Given the carnage of last two weeks, it would have helped immensely if they had assumed a more defensive posture to protect the NAV of the portfolio.

mouserman wrote: SO my spreadsheet has the UNIT NAV getting trashed, down 64 cents since April 28.
Adjusted the spreadsheet to accommodate the new cash position and weightings.
Commons have a value of about $3.27 at this point, premium is stupid @ nearly 20%.


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