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 > NAV May 31

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Post by AnEducatoron Jun 02, 2024 12:40pm

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Post# 36068322

NAV May 31

~$15.89. The closing price was right at par value if these numbers are accurate. We have a solid cushion of ~5.57% above the threshold. These numbers are within proximity of others on this board.

I'm not sure what caused the massive surge at the close of Friday's trading, but it may have had to do with end-of-month portfolio allocation and portfolio rebalancing. It was quite extraordinary and suggests there is still plenty of buying interest and cash on the sidelines looking to get in. The yield on safer, fixed income options no longer look enticing with the markets continually testing fresh all-time highs.

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