Financial 15 Split Corp T.FTN

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

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company 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 an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 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 over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp

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Post by Sugareeon Jul 30, 2022 9:40pm

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Post# 34862731

Dec 2020, 4 for 10 Reverse Split

FTN did a reverse split 4 for 10 in December 2020 after 9 months of missed dividends. That is harsh, investors got 60% of their investment instantly wiped out. Anyone know why Quadravest would do that? Has anyone heard of any other split fund doing something this drastic?

Could this be the same fate for other Quadravest split funds down the road? I.e. DF and FFN don’t look much better than when they did that to FTN.

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