Bullboard - Stock Discussion Forum Life & Banc Split Corp T.LBS

Alternate Symbol(s): LFBCF | T.LBS.PR.A

Life & Banc Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund's investment objective is to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions and the opportunity for growth in Net Asset... see more

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TSX:LBS - Post Discussion

Life & Banc Split Corp > LBS unit NAV to March 11 = APPROX: 18.94

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Post by mouserman on Mar 11, 2021 5:28pm

LBS unit NAV to March 11 = APPROX: 18.94

So a bit of a pullback late in the day, but still a very good week, as LBS gained 77 cents on the week, which is about a 4% gain in UNIT NAV., however for the commons , the rise is much bigger .
LBS closed MARCH 4 at 7.77 and today closed at 8.35 ... which is a gain of .57... while the NAV jumped by .77... and may be the biggest reason why the discount has increased in the past week.
I do believe that discount will mosty disappear come ex divvy date.
I noted today that FTN in the past few days rose enough to be trading at a premium to NAV... and now Quadravest has 3 of the split funds now trading at a premium, while Brompton has none.

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Comment by navgod on Mar 11, 2021 7:41pm

Brompton has two split funds that trade at a premium: GDV which just had a treasury issue yesterday and OSP an oil stock fund that is quite small but wich has traded at a large premium for years(for no good reason as it has been a dog until recently). There is no reason to expect the Quadravest and Brompton funds that currently trade at or below their nav to begin to trade at any significant ...more

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Comment by EdPaquette on Mar 11, 2021 7:48pm

After an overnight offering, it takes 3 months to recover the premium to nav. FTN did one January 7th and LBS just after that. Both these splits will be in their glory the next 3 or 4 weeks.

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Comment by mouserman on Mar 12, 2021 9:15am

AH right you are, GDV is not one i have been tracking. AND OSP does not pay a distribution and NAV was stated at 0 for commons , so that was not on my radar.

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Comment by Higherhopes2020 on Mar 12, 2021 11:08am

NAV as of March 11th is $8.81. Most of the time LBS trades a premium today is it is trading at a discount $8.4

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Comment by slst on Mar 14, 2021 8:53pm

Hopefully, as we get closer to the ex distribution date, the price will close that gap Really surprised that LBS trades at such a discount with near $4 margin of safety with respect to its juicy distribution. Good Luck longs....this is the largest position in my account. Largest Canadian Banks and Insurance Cos....whats not to love.

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