RE:Quadravest RetractionsA couple of thoughts post retraction deadline and election: 1) as predicted discounts widen post retraction deadline but especially for FFN and LFE as sp struggled to keep up with surging NAVs. 2) discounts should narrow from here however will not disappear - expect 30-50 cents to remain. This reflects the premium for the pref shares and would bring unit nav into line with combined sp for capital and pref shares. So far decision to retact vs selling or doing nothing is onside by about $350,000. Here's hoping the NAVs can hang in for anotherfew weeks. GLTA
navgod wrote: Four Quadravest split-share funds are being renewed/extended Nov 30 2024 - FFN, LFE, DF, and DFN. To receive the NAV on that date you must submit your holdings by Oct.31.-- your broker will usually require an additional 2 days notice. This means the discount should continue to shrink as we approach this date. What this also means is that the discount should widen out once the retaction bid is gone. The size and speed of this adjustment will be interesting as will the increase in short positions.I personally will be retracting approx. 500,000 shares spread over holdings of LFE, FFN and DF. GLTA