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North American Financial 15 Split Corp T.FFN

Alternate Symbol(s):  FNCSF

North American Financial 15 Split Corp. is a 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, the amount of which is fixed on an annual basis 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

Comment by navgodon Dec 06, 2024 4:32pm
105 Views
Post# 36350200

RE:Info about the retraction...

RE:Info about the retraction...How about the vision that no matter who won the election the discount was going to blowout after the arb bid ie traders buy for redemption.  So if you were long FFN the smart move was to redeem it or sell it. I chose to  redeem and that was based on on probabilities. The fact  that the payoff has been above my expectations does not negate the wisdom of the decision.  I am tried of stating my case but the trade was not based on luck the size of the return maybe.  If very few took advantage of the retraction so be it  given I have replced my retracted holding at just above current prices. It would also comfirm that most investor/trader in FFN and other Quad funds do not look at the world the same way I do -- thank god!   GLTA
myNEXTmillion wrote:
The deadline for submitting ones shares for retraction was November 1.  The October update reported the NAV at $6.82 for the Class A's.  The market close on October 31 was $6.77. 

As the difference is very narrow, less than 1 distribution payment at the time, I am of the opinion very few would have taken advantage of the Class A retraction privilege.  Not many would have had the vision of a Trump win, jacking up all the share prices.

Just my opinion...

mNm




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