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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.


TSX:LBS - Post by User

Life & Banc Split Corp > LBS UNIT NAV to Nov 14 = approx: $16.46
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Post by mousermanon Nov 14, 2023 4:28pm
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Post# 35735382

LBS UNIT NAV to Nov 14 = approx: $16.46

LBS UNIT NAV to Nov 14 = approx: $16.46 Now that is not taking into account some loss on the provision of LBS having to buyback preferreds that are redeemed. SO maybe estimate it about 10 cents lower. Last trade  for LBS @ $7.58 leaves a healthy premium even without the preferred liability. FTN trades a full dollar lower  thatn LBS with a higher UNIT NAV and higher yield. US banks definitely had the big bounce today compared to their CAD counterparts.
LBS premium today would be at least $1.10  , or about  17 to 18%
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