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 > Pecked away at some LBS today

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Post by mousermanon Dec 14, 2023 12:55pm

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Post# 35784832

Pecked away at some LBS today

Still like the bigger exposure to the lifecos, their profits are NOT going to go down much, certainly not back to the levels of 0% interest for a decade or more. Banks still have some headwinds in 2024 , but for now everything is rosy. FOMO and MOMO have big power.
I have the UNIT NAV today at $17.60 and the offering should bump the NAV up a bit from there, considering the commons were sold for $7.80 in the offering.

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