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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

Post by Bankman7on Sep 07, 2023 1:48pm
202 Views
Post# 35624516

Volatility

Volatility This market reaction , l consider over the top even with the drag of the US banks , really only tarred and feathered by unregulated Regionals and a US system that learned nothing by numerous crashes since 1900 and before.Today l did something that might be considered foolish by some , gutsy by some and a smart move by some, and that is l sold part of another ETF l have owned for years and has never seen this panic selling The proceeds invested in FTN at these ridiculous prices. The premium is not extreme as Investibility stated as the dividend is triple any CDN financials and a quintuple over their US counterparts. Reality as usual will set in and people who finally capitulated today are really going to regret that decision. That's my opinion and for obvious reasons l look forward to been proved correct in my buying more. Just for the record , l dislike Shorters , l know it's a legal strategy but l have absolutely no use for that type. All my investments are ETF focused , even if FTN is considered a Mutual fund , which l also don't like.Mgmt fees way to high for what is basically a broad  holding  that could be duplicated by investing in select sectors ,.
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