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.

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

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

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