Financial 15 Split Corp T.FTN

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

Financial Services Asset Management

Financial 15 Split Corp. is a mutual fund company. The Company’s investment objectives with respect to the preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in an amount fixed by the board of directors on an annual basis. Its investment objectives with respect to the Class A shares are to provide holders of Class A shares with regular monthly cash distributions, in an amount to be determined by the board of directors; and to permit such holders to participate in all growth in the net asset value of the Company above $10.00 per unit, by paying such holders, on or about the termination date, such amounts as remain in the Company on the termination date after paying the preferred share repayment amount to the holders of the preferred shares. It invests in a portfolio consisting of 15 financial services companies made up of Canadian and United States issuers. Its investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp > FTN unit nav to May 10 = approx; $18.45

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Comment by Toppicks1on May 11, 2024 10:54am

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RE:FTN unit nav to May 10 = approx; $18.45

mouserman wrote: Spreadsheet showing a gain of 53 cents despite the CAD/USD exchange hurting the valuations of the US holdings. Last trade @ $8.27 leaves a discount of 18 cents.... seems to be a lot of sellers in this name, keeping a lid on the price. Annual yield of 18.24 % you would think should give a bit of premium. Nearly 3.5 $ of safety.

Shorts still have a couple weeks to swing in their favour. Even a 3% premium would trade at 8.70....

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