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First Asset CanBanc Split (TSX:CBU.PR.A.PFD) Policy Acquisition Expense


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What is First Asset CanBanc Split Policy Acquisition Expense?

Policy Acquisition Expense only applies to insurance companies.

First Asset CanBanc Split Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » First Asset CanBanc Split Corp (TSX:CBU.PR.A.PFD) » Definitions » Policy Acquisition Expense
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Traded in Other Exchanges
N/A
Address
Website
http://www.firstasset.com
First Asset CanBanc Split Corp was incorporated under the laws of the Province of Ontario on September 5, 2008, is a mutual fund corporation whose investment portfolio consists of common shares of the six largest Canadian banks. The Fund's objectives in managing its capital with respect to the preferred shares are to provide preferred shareholders with fixed cumulative preferential quarterly cash distributions in the amount of $0.1625 per preferred share and to return the original issue price to preferred shareholders at the time of redemption of such shares on or about January 15, 2016. The Fund's objectives in managing its capital with respect to the Class A shares are to provide Class A shareholders with the opportunity to participate in the performance of the Fund's portfolio on a leveraged basis and to benefit from any increase in the dividends from the securities in the Fund's portfolio.