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.

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Financial 15 Split Corp > What is going on ?

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Post by oldbrit34on Oct 03, 2023 3:35pm

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Post# 35667621

What is going on ?

I used to think of FTN as one of the best splits you could buy with a nice yield of around 14% , a reasonable premium , and a healthy NAV. But since the closing price of $9.27 on July 20th FTN has fallen 38%. and we have seen today a very small discount to NAV. I can't decide whether this is a screaming buy or a value trap ( we are getting close to the $15 cut off point ). Nobody would have believed this on July 20th. When I feel this indecisive I usually hold off.

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