I guess they called this kind of product a leveraged investment on a leveraged company that isn’t hedged?...namely Manulife.
This is the kind of manufactured garbage that is intended to fill the void created from killing income trusts, the product that most filled the needs pf Canadian investors.
This slice and dice investment sounds like a sure thing. Not.
Quadravest Capital announces the formation of M-SPLIT:
M-Split Corp. is a corporation investing in common shares of Manulife Financial Corp., a leading Canadian based Global Financial Services company offering financial products and wealth management services.
Common shares of Manulife Financial Corp.
Preferred Shares (Priority Equity Shares):
To provide holders of the Preferred Shares with fixed, cumulative preferential monthly distributions to yield 5.25% per annum on the $10 issue price and to return the original issue price to holders on December 1, 2014.
Class A Shares:
To provide holders of the Class A Shares with regular monthly cash distributions targeted to yield 6.0% per annum on the $10 issue price and the opportunity for growth in the Net Asset Value.
Friday, January 15, 2010
Posted by Fillibluster at 8:14 AM