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Financial Services Asset Management

"SCITI Trust was established under the laws of the Province of Ontario on April 24 2003. The company is an investment trust which invests in the equity securities of income funds, corporations and other entities that reflect the makeup of the 50 highest yielding members of the Scotia High Yielding Equity Index on an approximately equal weighted basis."

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SCITI Trust > any idea why trading above NAV now? nt

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Post by nilelyn on Apr 11, 2018 2:33pm

any idea why trading above NAV now? nt

thanks

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Comment by YellowBrickRoad on Apr 11, 2018 11:27pm

Perhaps due to the offering from Quadravest to exchange units of Sciti trust for units of FTN. Link: Financial Split Corp Announces Exchange Offering

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Comment by nilelyn on Apr 12, 2018 4:14pm

any thoughts on the conversion ratio or ftn as an asset?

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Comment by YellowBrickRoad on Apr 13, 2018 1:46pm

FTN carries the highest premium to NAV of the split share corporations I follow, currently about 38%. The conversion offer reduces the discount by about half, but that is still too high in my opinion. There are other split shares available with a lower premium and a higher asset base coverage for paying Class A shares. If one were to go ahead with the conversion, I suggest ...more

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Comment by nilelyn on Apr 14, 2018 11:56am

thanks my math concluded about the same yield is enticing therefore might be best to avoid have been burned previously another unknown is what the sin nav will be at the end of april after expenses i managed to sell half of my position this week at 8.01 if it rebounds i might sell the rest or may just see how much cash i get april 30th

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