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

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Post by mousermanon Apr 12, 2024 6:11pm

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Post# 35986832

FFN unit nav to April 12 = approx: $15.30

My spreadsheet has FFN losing about 60 cents now since the March 29 update. I had included all stocks going ex div, and pegged the USD/CAD at nearly 1.7% . Even with that had some big losses from the bigger holdings JPM, especially. Last trade @ $5.24 leaves the commons trading at aslight discount. Monday will tell the story for dividends, as they need to have the UNIT NAV at $15 or higher end of the day. Quadravest does NOT use preferreds prorated like Brompton for the Quarterly mid month's calculations.

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