Strathbridge Asset Management
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S Split Corp.

 

SBN.PR.A
SBN

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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 provided that NAV per Combined Unit is greater than $16.50 and distributions payable on the Preferred Shares are not in arrears.

Portfolio

The Fund invests exclusively in common shares of BNS.

Top 2 Holdings as of September 30, 2019
Holding Name % of Fund
 The Bank of Nova Scotia      97.3%  
 Cash and Short-Term Investments      2.7%  
Sector Allocations

 

 

 Pricing
As of 11-07-2019
Current NAV for SBN.PR.A: $10.00
Market Price: $10.19
Last Traded: 11-07-2019
Current NAV for SBN: $7.15
Market Price: $6.36
Last Traded: 11-06-2019
View Historical NAV  
 Quick Facts
Inception Date: 05-17-2007
Total Assets As of 06-30-2019: $15.56 mm
Management Fee: 1.65%
Service Fee Class A: 0.5%
 Distributions & Tax
Current Distributions for SBN.PR.A: $0.04
Current Yield: 5.15%
Current Distributions for SBN: $0.04
Current Yield: 6.6%
View Historical Distributions  
 News
2019-11-04
SBN: Declares Monthly Fund Distributions
2019-10-02
SBN: Declares Monthly Fund Distributions
2019-09-04
SBN: Declares Monthly Fund Distribution
2019-08-28
SBN: Announces Semi-Annual Results
2019-08-06
SBN: Declares Monthly Fund Distribution
View More News