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Financial 15 Split Corp T.FTN

Alternate Symbol(s):  T.FTN.PR.A | FNNCF

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company 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 an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 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 over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.


TSX:FTN - Post by User

Financial 15 Split Corp > Don't forget your math
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Comment by Eoj123on Sep 05, 2023 11:36pm
99 Views
Post# 35621232

RE:Don't forget your math

RE:Don't forget your math
Investability00 wrote: Take the closing NAV of $6.54. If a fund pays .10 a month and is trading at NAV, everyone says Oh Good Deal with 0 premium.
Now take FTN at NAV $6.54 . It pays .1257 a month. Now that is 25.7% more. If you add 25.7% to the NAV of FTN that makes the Retail price $8.22 to be equal to the other fund paying 10 cents. So in closing anything under 25.7% so called premium is equal to a discount on the other 10 cent paying funds.
A premium of 35% everyone keeps talking about is really only 9.43% for FTN
Also the Safety factor and regular payments is a huge plus.
That my friends is why FTN is a premium fund.
A fair price today would be $8.22 
I hope this helps new fund buyers out.

IMO there are enough holes in your analysis that youyou could drive a truck through. IMO 
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