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Financial 15 Split Corp T.FTN

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

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

Post by mousermanon May 17, 2024 1:39pm
202 Views
Post# 36045906

Hard to understand FTN stuck in neutral....

Hard to understand FTN stuck in neutral....Really for a safer bank/financial split fund, there seem to be sellers keeping a lid on the price. This play should be at a premium, much like BK... as it has nearly as much safety, and a higher yield. Bigger % of USD holdings tho, and maybe that is the negative... altho they have outperformed the CAD banks of late. Havent done up the spreadsheet just yet, waiting for Quadravest update to surface. I amsure FTN at a discount today, as it looks as tho only a couple of the US banks in red ( FITB is a minor small holding) and WFC.
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