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North American Financial 15 Split Corp T.FFN

Alternate Symbol(s):  FNCSF

North American Financial 15 Split Corp. is a mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends, the amount of which is fixed on an annual basis and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. Its investment objectives with respect to class A shares are to provide holders of class A shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.


TSX:FFN - Post by User

Post by AnEducatoron Nov 17, 2023 5:45pm
168 Views
Post# 35742044

NAV November 17

NAV November 17~$13.87. Discount on capital shares: ~$0.52.

Quadravest has not yet issued an update so please treat these numbers with some caution, although I expect them to be within my personal +/- $0.04 target.

We've had quite a mammoth rally this month. With the put/call ratio signalling extreme bearish positioning, this rally is not too surprising. One can never tell for how long this will last, but history shows it can go on for a while, perhaps eventually into bubble territory with enough FOMO and exuberence. Seasonality is on the side of the longs.

I hope everyone enjoys their weekend!
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