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

Financial 15 Split Corp > BEARS

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Comment by mousermanon Nov 06, 2024 4:48pm

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Post# 36299653

RE:RE:RE:RE:RE:RE:RE:BEARS

marcrobert wrote: FFN
October 31, 2024
NAV Pre-Distribution: $17.01
Distribution: .1925
NAV Net of Distribution: $16.82

ok so the live nav is 18.24 vs 16.82 a week ago,

Still with a current price of 6.91 for FFN, it's the price i worry about not the nav since selling overshoots nav based on price (not nav) approaching pay limit

FTN has not really spent much time not paying so that's worth a bit less yield.

Also US bank stocks going up 7% on election victory, i expect will retrace.

I expected it all to come down end of the day... but the value doent warrant a selldown. 15% discounts are unheard of .. historically in these when they are trading above 20$ UNIT NAVs. A few years ago with the same unit nav FTN would be getting a 20% to 30% premium. Hell, DFN was getting a 25 % premium with the UNIT NAV at 16$ last year..

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