North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

Financial Services Asset Management

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

North American Financial 15 Split Corp > Live NAV: 15.08, 2:30pm Jan 30

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Comment by flamingogoldon Jan 30, 2024 4:15pm

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Post# 35853512

RE:RE:Live NAV: 15.08, 2:30pm Jan 30

However, I do believe we are setting up for a Feb-March swoon first. The market is over exhuberant that the FED is going to drop as soon as March. I highly doubt it. The economy is still strong and inflation returning still a possibility. They don't need to raise further, the hiking is done, but I do not expect any cuts until mid year to start at the earliest. I believe there is a disconnect currently between the start of rate cuts, but the good news is... the rate cuts are coming.

flamingogold wrote: I previously mentioned that what happened last year with regional banks and the chaos and panic would be buying opportunities. This is a rebound year.

Clarke123 wrote: It's qualifying for dividends now. Even after adjusting for the pref dividends, I get live NAV around 15.08. Big move in banks, especially JP and Citi.

Trading at 4.68, means a discount of 8% to NAV. Still a staggering discount, and dividend status will now bring a flurry of buying to catch up with the available discount. Short holders have to pay a lot to hold their shorts from now.