Life & Banc Split Corp T.LBS

Alternate Symbol(s): LFBCF | T.LBS.PR.A

Life & Banc Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund's investment objective is to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions and the opportunity for growth in Net Asset Value per Class A share. To achieve these objectives, the Fund invests in a portfolio comprised of common shares of approximately six Canadian banks and four publicly traded Canadian life insurance companies. The Fund also writes covered call options and cash-covered put options in respect of the portfolio to generate additional distributable income for the Fund and/or to reduce the volatility of the Fund. The Fund's investment manager is Brompton Funds Limited.

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Life & Banc Split Corp > Preferred

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Comment by navgodon Oct 02, 2023 5:23pm

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Post# 35665804

RE:Preferred

wolverine99 wrote: Preferred share down large today, totally out of step with trading history, and Divy raise is forthcoming. Any thoughts on todays drop?

Check out the price history for SBC.pr.a last Nov in the run up to the SBC/SBC.pr.a extension. There was a large retration of pref shares and Brompton did a large issue at 9.55 priced down from the retraction price of par. Might I suggest some investors fear a repeat. I tried toget a short on this morning but others beat me to it. Should find out in a week or two if there will be an issue of prefs and its size.

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