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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, 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

Post by mousermanon Aug 08, 2024 4:29pm
218 Views
Post# 36170172

FTN unit nav to Aug 8 = approx: $17.62

FTN unit nav to Aug 8 = approx: $17.62So spreadsheet now showing a loss of 95 cents since JULY 31 , and not one stock in the fund, is within a % of where it was on that date. WFC and C are still down 11 % even after the  mini rebound.
CAD not helping as it closed today @ 72.85 cents USD... up again. 
But didnt stop folks from reloading, and really this is one of the safer splits and deserves a bit of a premium. I dont own it anymore, can wait a few weeks and see where the markets are headed. 
Common shares are worth about $7.62 , and last trade @ $7.90 only shows a 28 cent premium.

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