FTN Semi-Annual Report 12H1

Financial 15 Split Inc. has released its Semi-Annual Report to May 31, 2012.

Figures of interest are:

MER: 1.03% of the whole unit value, “excluding the one time initial offering expenses and performance fees.”

Average Net Assets: We need this to calculate portfolio yield. The number of units did not change over the half, so the average of the beginning and end of year’s net assets will be close enough: ($120.8-million + $124.2-million) / 2 = $122.5-million.

Underlying Portfolio Yield: Dividends received (net of withholding) of 2.191-million divided by average net assets of 122.5-million is 1.79%, annualized is 3.58%

Income Coverage: Net Investment Income of 1.525-million divided by Preferred Share Distributions of 2.429-million is 63%.

FTN.PR.A was last mentioned on PrefBlog when the 2011 Annual Report was discussed. FTN.PR.A is tracked by HIMIPref™ but is relegated to the Scraps index on credit concerns.

This entry was posted on Sunday, September 16th, 2012 at 5:35 pm 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.

One Response to “FTN Semi-Annual Report 12H1”

  1. FTN Annual Report 2012 « PrefBlog says:
    March 10, 2013 at 3:28 pm

    […] These figures are close to the previously reported and calculated semi-annual figures. […]

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