Canadian Large Cap Leaders Split Corp T.NPS

Monthy Redemption

[BeyondValuez]

Stupid investors selling at 15% discount the NAV in the market, while they could just do a monthly redemption of 96% of NAV. im gobbling up what I can at this price in the market.

[Intellectual]

If only it were that simple. The units are trading at a 7.8% discount to NAV, not 15% because the preferred shares are trading well above par value, and rising. So an 8% correction would completely wipe out the discount and we would actually be trading at a premium at current prices. Upon redemption, the fund is required to purchase preferred shares at market prices which is then subtracted from