Bullboard - Stock Discussion Forum Financial 15 Split Corp T.FTN

Alternate Symbol(s): T.FTN.PR.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... see more

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TSX:FTN - Post Discussion

Financial 15 Split Corp > Don't forget your math

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Post by Investability00 on Sep 05, 2023 9:15pm

Don't forget your math

Take the closing NAV of $6.54. If a fund pays $0.10 a month and is trading at NAV, everyone says Oh Good Deal with 0 premium.
Now take FTN at NAV $6.54 . It pays $0.1257 a month. Now that is 25.7% more. If you add 25.7% to the NAV of FTN that makes the Retail price $8.22 to be equal to the other fund paying 10 cents. So in closing anything under 25.7% so called premium is equal to a discount on the other 10 cent paying funds.
A premium of 35% everyone keeps talking about is really only 9.43% for FTN
Also the Safety factor and regular payments is a huge plus.
That my friends is why FTN is a premium fund.
A fair price today would be $8.22
I hope this helps new fund buyers out.

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Comment by Bankman7 on Sep 05, 2023 9:49pm

While l have been a reader for quite some time , l never joined this or anything else .But after your post l was compelled to comment. You are quite right in your analysis about the Fund and today l bought 2000 shares to add to my 10000 and change l already owned. The American Banks are always loose cannons due to their lack of regulation , but the Canadian banks are rock solid as history as ...more

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