North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It 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 the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price 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 for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.

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North American Financial 15 Split Corp > Dashboard showing 4 cents higher NAV

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Comment by maxjacon Nov 07, 2024 6:31pm

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Post# 36302114

RE:RE:RE:Dashboard showing 4 cents higher NAV

I did some quality control in my code to see if there's anything that needs adjusting and I can confirm that the exchange rate used for all LIVE estimated calculations is the latest exchange rate available for the current day. Current exchange rate 1.38681 as of 2024-11-07 18:01:03

NOTE: Dividends receivable also use the LIVE exchange rate.

NOTE: I round up the estimated quantity owned for each stock so that might play a bit, but I don't think it does influence the estimated NAV that much (we're talking probably fractions of cents) so it is likely not the cause of the discrepancy.

POTENTIAL CAUSE: The estimated cash in $ amount is calculated whenever Quadravest publishes a new official NAV on their website (around the 15th and around the last workday of each month) and that's the cash value that will be used until to estimate the LIVE NAV until the next official NAV is published. You can see this in the overview table at the top because the cash value for the 31st is the same as for the one for the current day (105,626,845 in this case).

Aside from that, I cannot find anything "wrong" as far as I can tell.

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