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

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Post by mousermanon Nov 08, 2024 3:03pm

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Post# 36303811

Quadravest updates full monthend.

So cash position increased to 17% and was likely the result of managers raising cash thru covered calls. US holdings were down to 40% in this update vs 43% for Cad holdings.
At the current exchange and with the updated numbers , FTN unit nav has gained $1.03 since OCt 31, with the US holdings bouncing up and CAD holdings started to rise up again. For sure an incredibly big discount on these, ( FFN as well) and i think fear of the unknown regarding the election has caused a lot of angst.

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