Bullboard - Stock Discussion Forum 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... see more

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TSX:FFN - Post Discussion

North American Financial 15 Split Corp > FFN unit nav to March 10 + approx: 14.19

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Post by mouserman on Mar 10, 2023 4:47pm

FFN unit nav to March 10 + approx: 14.19

SO spreadsheet saying the FFN NAV lost 85 cents since FEB update. Actually lost 1 penny more than FTN, ( which held a bigger cash position at last report).
So commons now have a value of $4.18 and the premium now is 64 cents , or about 15.3%.
Do not think i have ever seen these kind of premiums for SPLITFUNDS commons this far underwater. DGS also with a ridiculous premium of 28.2 % as today is 60 cents below the level for paying to commons. !!! WTF gives with these investors? No shares to be borrowed for shortselling? Only explanation i can give.

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Comment by itsthehitman on Mar 10, 2023 6:12pm

Mouserman...my take on the past two days may be a reflection on the screwed up banking sector in the good old USA. Bailing out mismanaged banks is definitely not working. How much did it cost years ago with the bail out of wall street. Next week should be very interesting. Glta

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Comment by mouserman on Mar 10, 2023 6:29pm

I dont think a bank like SVB will be in the category , too big to fail. But it definitely will have a ripple effect down the line, particular in crypto world.

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