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S Split Corp.

 

SBN.PR.A
SBN

Fact SheetFact SheetFund UpdateFund Update

Fund Overview

Overview

The Fund is a split share corporation which invests in common shares of The Bank of Nova Scotia (“BNS”) and utilizes Strathbridge’s proprietary SSO covered call writing strategy to enhance the income generated by the shares and to reduce volatility.

Rationale

While the global financial services market has experienced one of the worst financial crises in history, the Investment Manager believes The Bank of Nova Scotia is well capitalized and is poised to provide strong returns over the next several years. The preferred shares are appropriate for an investor looking for a more secure investment than common equities with a high level of income. The Class A shares are appropriate for an investor seeking a leveraged play on BNS shares while earning attractive distributions.

Distributions

Preferred share distributions of $0.525 per share per annum are paid monthly for a yield of 5.25% on the $10.00 original issue price. Class A share distributions are calculated and paid monthly based on 6.0% per annum of the net asset value of the Class A shares.

Portfolio

The Fund invests exclusively in common shares of BNS.

Top 2 Holdings as of March 31, 2017
Holding Name % of NAV
BANK OF NOVA SCOTIA      95.2%
CASH      4.2%
Sector Allocations

 

 

 Pricing
As of 05/18/2017
Current NAV for SBN.PR.A: $10.00
Market Price: $10.70
Last Traded: 05/17/2017 9:45am
Current NAV for SBN: $8.12
Market Price: $7.12
Last Traded: 05/24/2017 9:33am
View Historical NAV  
 Quick Facts
Inception Date: 05/17/2007
Total Assets As of 03/31/2017: $19.66 mm
Management Fee: 1.65%
Service Fee Class A: 0.5%
 Distributions & Tax
Current Distributions for SBN.PR.A: $0.04
Current Yield: 4.91%
Current Distributions for SBN: $0.04
Current Yield: 7.23%
View Historical Distributions  
 News
5/2/2017
SBN: Declares Monthly Fund Distributions
4/4/2017
SBN: Declares Monthly Fund Distributions
3/22/2017
SBN: Announces Annual Results
3/6/2017
SBN: Declares Monthly Fund Distributions
2/3/2017
SBN: Declares Monthly Distributions
View More News
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