{"id":19769,"date":"2012-09-16T17:35:58","date_gmt":"2012-09-16T21:35:58","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=19769"},"modified":"2012-09-16T17:35:58","modified_gmt":"2012-09-16T21:35:58","slug":"ftn-semi-annual-report-12h1","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=19769","title":{"rendered":"FTN Semi-Annual Report 12H1"},"content":{"rendered":"<p>Financial 15 Split Inc. has released its <a href=\"http:\/\/www.financial15.com\/pdf\/FTN%20semi%202012.pdf\">Semi-Annual Report to May 31, 2012<\/a>.<\/p>\n<p>Figures of interest are:<\/p>\n<p>MER: 1.03% of the whole unit value, &#8220;excluding the one time initial offering expenses and performance fees.&#8221;<\/p>\n<p>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&#8217;s net assets will be close enough: ($120.8-million + $124.2-million) \/ 2 = $122.5-million.<\/p>\n<p>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%<\/p>\n<p>Income Coverage: Net Investment Income of 1.525-million divided by Preferred Share Distributions of 2.429-million is 63%.<\/p>\n<p>FTN.PR.A was last mentioned on PrefBlog when the <a href=\"http:\/\/www.prefblog.com\/?p=18085\">2011 Annual Report was discussed<\/a>. FTN.PR.A is tracked by HIMIPref&trade; but is relegated to the Scraps index on credit concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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, &#8220;excluding the one time initial offering expenses and performance fees.&#8221; Average &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-19769","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19769"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/19769\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}