Financial 15 Split Inc. has released its Annual Report to November 30, 2014.
| FTN / FTN.PR.A Performance |
| Instrument |
One
Year |
Three
Years |
Five
Years |
Ten
Years |
| Whole Unit |
+16.59% |
+21.49% |
+10.66% |
+4.30% |
| FTN.PR.A |
+5.38% |
+5.38% |
+5.38% |
+5.37% |
| FTN |
+33.94% |
+58.33% |
+18.79% |
+4.53% |
| S&P/TSX Financial Index |
+18.77% |
+20.54% |
+13.45% |
+9.99% |
| S&P 500 Financial Index |
+24.64% |
+31.12% |
+14.36% |
-0.05% |
Figures of interest are:
MER: 1.48% of the whole unit value, excluding one time initial offering expenses.
Average Net Assets: We need this to calculate portfolio yield. MER of 1.48% Total Expenses of 3,284,849 implies $222-million net assets. Preferred Share distributions of 6,781,917 @ 0.525 / share implies 12.9-million shares out on average. Average Unit Value (beginning & end of year) = (17.76 + 17.14) / 2 = 17.45. Therefore 12.9-million @ 17.45 = 225-million average net assets. Good agreement between these two methods! Call it 224-million average.
Underlying Portfolio Yield: Dividends received (net of withholding) of 5,526,373 divided by average net assets of 224-million is 2.47%
Income Coverage: Net Investment Income of 2,242,511 divided by Preferred Share Distributions of 6,781,917 is 33%.
This entry was posted on Monday, March 16th, 2015 at 12:05 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
FTN.PR.A: Annual Report 2014
Financial 15 Split Inc. has released its Annual Report to November 30, 2014.
Year
Years
Years
Years
Figures of interest are:
MER: 1.48% of the whole unit value, excluding one time initial offering expenses.
Average Net Assets: We need this to calculate portfolio yield. MER of 1.48% Total Expenses of 3,284,849 implies $222-million net assets. Preferred Share distributions of 6,781,917 @ 0.525 / share implies 12.9-million shares out on average. Average Unit Value (beginning & end of year) = (17.76 + 17.14) / 2 = 17.45. Therefore 12.9-million @ 17.45 = 225-million average net assets. Good agreement between these two methods! Call it 224-million average.
Underlying Portfolio Yield: Dividends received (net of withholding) of 5,526,373 divided by average net assets of 224-million is 2.47%
Income Coverage: Net Investment Income of 2,242,511 divided by Preferred Share Distributions of 6,781,917 is 33%.
This entry was posted on Monday, March 16th, 2015 at 12:05 am and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.