Financial 15 Split Inc. has released its Annual Report to November 30, 2013.
| FTN / FTN.PR.A Performance |
| Instrument |
One
Year |
Three
Years |
Five
Years |
Ten
Years |
| Whole Unit |
+34.15% |
+11.20% |
+11.19% |
+3.76% |
| FTN.PR.A |
+5.38% |
+5.38% |
+5.38% |
+5.40% |
| FTN |
+104.94% |
+20.45% |
+20.22% |
+2.88% |
| S&P/TSX Financial Index |
+25.17% |
+12.64% |
+15.34% |
+9.81% |
| S&P 500 Financial Index |
+48.38% |
+17.49% |
+9.75% |
-1.99% |
Figures of interest are:
MER: 1.17% of thw whole unit value, excluding one time initial offering expenses.
Average Net Assets: We need this to calculate portfolio yield. MER of 1.17% Total Expenses of 1,735,619 implies $148-million net assets. Preferred Share distributions of 4,921,219 @ 0.525 / share implies 9.37-million shares out on average. Average Unit Value (beginning & end of year) = (17.14 + 14.37) / 2 = 15.75. Therefore 9.37-million @ 15.75 = 147-million average net assets. Good agreement between these two methods! Call it 148-million average.
Underlying Portfolio Yield: Dividends received (net of withholding) of 4,234,884 divided by average net assets of 148-million is 2.86%
Income Coverage: Net Investment Income of 2,499,265 divided by Preferred Share Distributions of 4,921,219 is 51%.
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FTN.PR.A Annual Report 2013
Financial 15 Split Inc. has released its Annual Report to November 30, 2013.
Year
Years
Years
Years
Figures of interest are:
MER: 1.17% of thw whole unit value, excluding one time initial offering expenses.
Average Net Assets: We need this to calculate portfolio yield. MER of 1.17% Total Expenses of 1,735,619 implies $148-million net assets. Preferred Share distributions of 4,921,219 @ 0.525 / share implies 9.37-million shares out on average. Average Unit Value (beginning & end of year) = (17.14 + 14.37) / 2 = 15.75. Therefore 9.37-million @ 15.75 = 147-million average net assets. Good agreement between these two methods! Call it 148-million average.
Underlying Portfolio Yield: Dividends received (net of withholding) of 4,234,884 divided by average net assets of 148-million is 2.86%
Income Coverage: Net Investment Income of 2,499,265 divided by Preferred Share Distributions of 4,921,219 is 51%.
This entry was posted on Sunday, June 15th, 2014 at 9:32 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.