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North American Financial 15 Split Corp T.FFN

Alternate Symbol(s):  FNCSF

North American Financial 15 Split Corp. is a Canada-based 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 in the amount of over 5.5% annually 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

Comment by mkqtraderon Mar 09, 2024 10:57am
90 Views
Post# 35924394

RE:RE:RE:RE:Estimated NAV end of March 8

RE:RE:RE:RE:Estimated NAV end of March 8What I do in my calculations is keeping the newest declared number of units for each holding: I don't perform any weight re-balancing since there are too many factors that can influence the NAV, including the heavily rounded cash amount declared - in this case, the declared 7% could be anything between 6.5% to 7.49% hence the value of all stock holdings can be anywhere between 92.51% and 93.5%, giving this way a large space for miscalculating the current number of owned stocks for each holding.
To overcome this problem, I calculate a "Trade adjustment" based on the Total Assets value minus the estimated cash value minus the estimated total stock holdings value. The calculated estimated NAV comes from the Total Assets value divided by the estimated number of outstanding shares (which are recalculated in approximation every end of month based on the declared unit value and the declared Total Asset value).
Of course, these calculations cannot be very precise because they are based on very heavily rounded factors: I describe the cash value range above while the declared stock value at month-end and at mid-month has a range of plus or minus 0,5 cents.
All of this to say that my calculations are not perfect but up to now they have kept me pretty close to the real NAV value.
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