Financial 15 Split Inc. has released its Annual Report to November 30, 2016.
| FTN / FTN.PR.A Performance |
| Instrument |
One
Year |
Three
Years |
Five
Years |
Ten
Years |
| Whole Unit |
+16.17% |
+13.08% |
+17.33% |
+3.49% |
| FTN.PR.A |
+5.38% |
+5.38% |
+5.38% |
+5.38% |
| FTN |
+37.86% |
+26.24% |
+42.92% |
+4.51% |
| S&P/TSX Financial Index |
+16.11% |
+10.73% |
+14.90% |
+7.02% |
| S&P 500 Financial Index |
+16.49% |
+20.17% |
+25.71% |
+1.27% |
Figures of interest are:
MER: 1.16% of the whole unit value, excluding one time initial offering expenses.
Average Net Assets: We need this to calculate portfolio yield. MER of 1.16% Total Expenses of 3,834,619 implies $331-million net assets. Preferred Share distributions of 9,986,252 @ 0.525 / share implies 19.0-million shares out on average. Average Unit Value (beginning & end of year) = (16.85 + 17.18) / 2 = 17.02. Therefore 19.0-million @ 17.02 = 323-million average net assets. Good agreement between these two methods! Call it 327-million average.
Underlying Portfolio Yield: Dividends received (net of withholding) of 9,514,391 divided by average net assets of 327-million is 2.91%
Income Coverage: Net Investment Income of 5,990,665 divided by Preferred Share Distributions of 9,986,252 is 60%.
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FTN.PR.A : Annual Report, 2016
Financial 15 Split Inc. has released its Annual Report to November 30, 2016.
Year
Years
Years
Years
Figures of interest are:
MER: 1.16% of the whole unit value, excluding one time initial offering expenses.
Average Net Assets: We need this to calculate portfolio yield. MER of 1.16% Total Expenses of 3,834,619 implies $331-million net assets. Preferred Share distributions of 9,986,252 @ 0.525 / share implies 19.0-million shares out on average. Average Unit Value (beginning & end of year) = (16.85 + 17.18) / 2 = 17.02. Therefore 19.0-million @ 17.02 = 323-million average net assets. Good agreement between these two methods! Call it 327-million average.
Underlying Portfolio Yield: Dividends received (net of withholding) of 9,514,391 divided by average net assets of 327-million is 2.91%
Income Coverage: Net Investment Income of 5,990,665 divided by Preferred Share Distributions of 9,986,252 is 60%.
This entry was posted on Sunday, March 12th, 2017 at 2:17 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.