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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 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

Post by mousermanon Oct 19, 2023 4:45pm
294 Views
Post# 35691792

FTN unit nav to Oct 19 = approx: $15.89

FTN unit nav to Oct 19 = approx: $15.89So the last few hours of trading went  from near $16.10  at the high, dropping 21 cents down to 15.89 at the close. FTN still safe for a little while... but another hike from the FED may be the straw that breaks the camel's back. Some  Banks are teetering on edge with short term bonds next to worthless , and sitting on unrealized losses. These BIGGER  banks likely can withstand the losses, but smaller regional banks may not,.
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