FTN.PR.A Semi-Annual Report 13H1

Financial 15 Split Corp. has released its Semi-Annual Report to May 31, 2013.

Figures of interest are:

MER: 1.19%

Average Net Assets: We need this to calculate portfolio yield. The Total Assets of the fund at year end was $133.2-million, compared to $147.0-million on May 31, so call it an average of $140.1-million. Total Preferred Share Distribution for the six months was $2.427-million, at $0.525/share p.a. implies an average of 9.25-million units, at an average NAV of ((15.89 + 14.37) / 2 = 15.13, so call it $140.0-million. Pretty close! Call the average net assets $140-million

Underlying Portfolio Yield: Semi-annual dividends received (net of withholding) of 2,066,050 divided by average net assets of 140-million is 2.95%

Income Coverage: Net Investment Income of 1,218,283, divided by Preferred Share Distributions of 2,426,598 is 50.2%.

One Response to “FTN.PR.A Semi-Annual Report 13H1”

  1. […] FTN.PR.A was last mentioned on PrefBlog in connection with its Semi-Annual Report 13H1. […]

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