North American Financial 15 Split Corp FNCSF

Primary Symbol: T.FFN

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

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Post by mousermanon Feb 01, 2023 5:29pm

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Post# 35260812

FFN UNIT NAV guesstimate after dist are paid =$15.16

So today FFN managed to gain a penny, mostly due to CIX and CDN banks and lifecos. CAD gained a bit on USD by the end of day, after selling down with the FED news early on. FFN commons then have a value of 5.16 after ALL distributions are paid.
Very reasonable valuation for FFN here with the premium only 37 cents, or about 7.1%

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