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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 Jan 16, 2024 4:30pm
208 Views
Post# 35829952

NAV January 16

NAV January 16~$14.56. Discount on capital shares: ~$0.51. Distance below threshold: ~3.03%.

All things considered, the final outcome today was not as bad as it could have been. Canadian core inflation data came in hotter than expected, one of the Fed officials in the U.S. was not as dovish as expected causing yields to rise, and general bearish sentiment prevailed after quite a rally to end 2023. The Canadian financials improved at the end of the day and the CAD weakened by more than a third of a cent, helping to mitigate some of the loss in the NAV.
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