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 > FTN unit nav comes in @ $18.14 before distributions

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Comment by EdPaquetteon Aug 04, 2022 3:41pm

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Post# 34872031

RE:RE:RE:RE:FTN unit nav comes in @ $18.14 before distributions

I was just looking at a 3yr chart for vix. We are about due for another shake up. Keep dry powder.

navgod wrote: Quadravest running out of options. FTN and BK are only issues with Pref trading at premium BK issue two months ago while FTN's last issue was four months ago.I believe FTN's recent under performance ie shrinking premium over NAV is a result of issue expectations.

mouserman wrote: I suspect Quadravest will wait until the premium is much higher than 13%.... but who knows.
The preferreds are trading at a bit of a premium so maybe that will be enought to push another offering for the banks/lifecos in this split fund.
Been quite a few offerings of late, even from Brompton. Altho LBS was done at well over 20%
premium to nav.

navgod wrote: No reason to buy until after the inevitable new issue now over due. GLTA