Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.A | FNNCF

Financial Services Asset Management

Financial 15 Split Corp. is a mutual fund company. The Company’s investment objectives with respect to the preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in an amount fixed by the board of directors on an annual basis. Its investment objectives with respect to the Class A shares are to provide holders of Class A shares with regular monthly cash distributions, in an amount to be determined by the board of directors; and to permit such holders to participate in all growth in the net asset value of the Company above $10.00 per unit, by paying such holders, on or about the termination date, such amounts as remain in the Company on the termination date after paying the preferred share repayment amount to the holders of the preferred shares. It invests in a portfolio consisting of 15 financial services companies made up of Canadian and United States issuers. Its investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp > FTN unit nav @ 2pm CST = approx: $20.57

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Post by mousermanon Dec 16, 2024 3:10pm

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Post# 36364772

FTN unit nav @ 2pm CST = approx: $20.57

I have recalculated the inputs to Dec 13th and placed the UNIT NAV @ $20.56 guesstimate on that day. No big difference in USD exchange since friday, so the NAV has gained a penny at his point in time, and if you bellieve the markets will be flat or slightly up from here, FTN is likely a nice buy at a discount , and paying around a 15.85% yield here.
Last sale at $9.52 would show the discount to be $1.05 here.. so over 9.9 % discounted. Not sure of there is a split fund out there right now in those i follow that has a better value. ( if you are bullish on banks/financials) Powell says everything's peachy..

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