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 Aug 8 = approx: $17.62

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Post by mousermanon Aug 08, 2024 4:29pm

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Post# 36170172

FTN unit nav to Aug 8 = approx: $17.62

So 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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