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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
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Post by AnEducatoron May 24, 2023 4:44pm
250 Views
Post# 35462570

NAV May 24

NAV May 24~$13.54. Closing premium on capital shares: ~$0.32.

More earnings to come from the heavyweight Canadian banks in the next couple days. The premium looks ever more excessive as the NAV continues to plumb new lows. NAV would need to rise almost 11% before payments resume. This will almost certainly take several months.
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