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Life & Banc Split Corp T.LBS

Alternate Symbol(s):  LFBCF | T.LBS.PR.A

Life & Banc Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund's investment objective is to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions and the opportunity for growth in Net Asset Value per Class A share. To achieve these objectives, the Fund invests in a portfolio comprised of common shares of approximately six Canadian banks and four publicly traded Canadian life insurance companies. The Fund also writes covered call options and cash-covered put options in respect of the portfolio to generate additional distributable income for the Fund and/or to reduce the volatility of the Fund. The Fund's investment manager is Brompton Funds Limited.


TSX:LBS - Post by User

Life & Banc Split Corp
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Post by mousermanon Oct 23, 2024 5:43pm
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Post# 36279306

LBS UNIT NAV to OCT 23 = approx; $19.34 before dist.

LBS UNIT NAV to OCT 23 = approx; $19.34 before dist.LBS just paid to preferreds in OCT . so only commons getting paid for the next 2 months.
After distributions LBS commons have a value of $9.24.. and with the last trade @ $8.57, the discount is 67 cents or about  7.25%.  That is the biggest discount in the split fund universe i follow. LCS would be next followed by FTN. Common theme there is Canadian banks and lifecos. FTN has US holdings that other 2 do not. Begs the question , why is BK trading at a premium?
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