Financial 15 Split Corp T.FTN

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

Financial Services Asset Management

Financial 15 Split Corp. is a mutual fund company. The Company’s investment objectives with respect to the preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in an amount fixed by the board of directors on an annual basis. Its investment objectives with respect to the Class A shares are to provide holders of Class A shares with regular monthly cash distributions, in an amount to be determined by the board of directors; and to permit such holders to participate in all growth in the net asset value of the Company above $10.00 per unit, by paying such holders, on or about the termination date, such amounts as remain in the Company on the termination date after paying the preferred share repayment amount to the holders of the preferred shares. It invests in a portfolio consisting of 15 financial services companies made up of Canadian and United States issuers. Its investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp

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Post by mousermanon Sep 21, 2023 4:18pm

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Post# 35648124

FTN unit nav to Sept 21 = approx: $16.51

Spreadsheet now showing a loss of 31 cents since friday the 15th....
COmmons now have a value of about 6.51$ before distributions are factored in. FTN announced they are paying to commons and preferreds this month. ONE of the few Quadravest split funds paying to commons. Payout will be just about 19 cents total .$ 7.42 was the close for the commons so premium is about 91 cents or 13.9% before dist.
The last month for FTN.... has been brutal. We see now why the Quadravest managers were in a lot of cash, for funds like BK and FTN.

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They started in video game investing, now they serve high net worth traders