North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

Financial Services Asset Management

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.

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North American Financial 15 Split Corp > Info about the retraction...

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Comment by twoofuson Dec 07, 2024 4:09pm

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Post# 36351205

RE:Info about the retraction...

I totally agree with you. The discount was only 5 cents and, regardless of what anyone's opinion was as to how the election would affect the markets, nobody could have reasonably predicted that the NAV would far exceed the share price as much as it did by November 29th. My guess is that the amount of retraction does not exceed 7.5M shares. That would coincide with the $62M reduction in cash in November.

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