Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.A | FNNCF

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company 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 an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 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 over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp > FTN unit nav to April 10 = approx: $18.05

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Post by mousermanon Apr 10, 2024 5:43pm

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Post# 35982222

FTN unit nav to April 10 = approx: $18.05

My spreadsheet has the UNIT NAV losing 34 cents since the march 29 update. The CAD falling nearly 1 % vs the USD helped keep it above $18...
Last trade @ $8.17 leaves the premium at only 12 cents. Could be more downside to come tho....I think the markets pushed up the ban ks too much, and were counting on multiple rate cuts early in the year. And now that pundits are sayin not to get excited about the rate cuts , its time for a correction.
FTN will survive and be one of the paying funds for a while, but not sure the capital gains will keep up with the distributions paid out.

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