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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.


TSX:FFN - Post by User

North American Financial 15 Split Corp > Don't sell FFN, buy more.
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Comment by mousermanon Nov 28, 2024 1:46pm
103 Views
Post# 36335932

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Don't sell FFN, buy more.

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Don't sell FFN, buy more.
navgod wrote: I don't understand why you think using cash will drop nav. Also if they have to sell some holdings to fund the retraction so what. They have had a month  to decide what and how to execute. There are uncertainies and dangers in this process but funding is not one of them. FYI as of tomorrow's close I will lose my exposure to FFN,LFE, and DF so I have begun to buy relpacement holdings but will wait for the retraction details for the majority of purchases. Currently the discount I look at (include the  capital dividend but withhold the pref divi) is just under 80 cents -- got to get some of that. glta

When i look at the update, 15% cash is INCLUDED IN the UNIT NAV... if they use 20 million $ to pay out the retraction,, it will drop the nav when the cash disapppears. There will be less shares out.. but they extra you make on your retraction makes the NAV go down.
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