North American Financial 15 Split Corp T.FFN

Question on Canadian Banks Holdings

[maxjac]

Hi again everyone,

Background: in FFN's holdings, there are US banks and Canadian banks.

Question: does FFN own those canadian banks stocks on the NYSE or on the TSX? I'm asking because canadian banks are listed on both exchanges.

Thanks! Max.

[CDNINV1]

STOCK ARE NOT OWNED ON EITHER EXCHANGE, BUT IF FFN ACTUALLY BUYS OR SELLS SHARES THEY PROBABLY COULD USE EITHER. THERE IS ALSO MORE THAN 1 EXCHANGE IN CANADA WHERE STOCKS ARE TRADED. BECAUSE QUADRAVEST IS A CANADIAN FUND, ALL VALUES ARE CONVERTED TO CDN $. IFYOU CONVERT THE US PRICE BY THE EXCHANGE RATE THE VALUE IN CDN $'S IS VERY CLOSE TO THE PRICE ON THE CDN MARKETS.

[maxjac]

Got it! Thanks. I wonder though... if FFN doesn't own the stocks, then how does the fund receive dividends on those stocks if they don't own them?

[kurtwalter]

FFN does own these stocks, but they are not held on an exchange. 

[CDNINV1]

STOCKS ARE OWNED BY FFN AND EITHER HELD BY THE FUND MANAGER QUADRAVEST OR BY THE BROKER THEY USE AND THEY RECIEVE THE DIVIDENDS FROM THE STOCKS THEY HOLD.   I BELIEVE YOU MIGHT BE INTERCHANGING THE WORKINGS OF A BROKER AND AN EXCHANGE. THE BROKER BUYS AND SELL AND HOLDS THE STOCKS THAT THEY TRADE ON AN EXCHANGE eg. TSX or NYSE, 

[maxjac]

Thanks guys I understand. I might have used the wrong terms, hence the confusion. I'll continue using the values on the TSX for canadian banks holdings and the values on the NYSE for US banks heldings (I pull live prices from both for all holdings as well as dividend information). Looks like in the end, with the conversion it's pretty much identical as mentioned by CDNINV1. Appreciate