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

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Post by mousermanon Oct 27, 2023 10:50am

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Post# 35704005

Missed my reentry on HFD

So made good on one trade, and had a lowball bid in yesterday and missed. NOW back to running up..
bought FTN instead, and financials going back down the skislope. LBS giving it up big today... UNIT NAV was reported by Brompton at $15.50, and i suspect that is before distributions. Not much breathing room, and with todays selloff , getting very close to the 15$ threshhold.
Not including the preferred offering which is likely to include a lot of retraction on the preferreds so not a big gain to the UNIT NAV.

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