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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

Comment by flamingogoldon Nov 01, 2024 3:46pm
89 Views
Post# 36292918

RE:RE:Fund Strategy

RE:RE:Fund Strategy
Ed, agree the splits are not for the faint of heart. What level of "crash" are you predicting before buying back in? Since you said you are "hoping for a crash", I'm assuming you will be buying in again.
 
A 10% market correction is due. A 20% correction is possible. But a crash? Are you expecting a black swan type event like 2008 and/or covid? These are impossible to predict/time.
 
Either way, it sounds like a lot of sideline money is waiting for a crash to buy the dips. We would need a catatrophic event with the VIX pushing 60+ to keep money away. Those situations are not easy buy-ins.

EdPaquette wrote: Primo105 I have been in theses splits for a few downturns. Don't worry about what quadravest does, you can only control what you do .  If the market drops like a stone, the splits drop like a leveraged stone. Everything is priced for perfection now, but the reality is stark.  You have a chance of gaining 1% or losing 50%. I'm in preferred shares, actually hoping for a crash. I think it's coming within 3 months.

primo105 wrote:
Can anyone comment on the strategy the fund has used in the past when there has been a market correction?  Specifically, does the fund continue to sell covered calls on its holdings if they are down 20% plus?  Or are they more strategic and hold onto positions until the price recovers even though it would result in less income in the short term?
 




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