Sector: Financials | Industry: Closed End Funds |
Company Contact | |
Address: | Suite 2930, 181 Bay Street TORONTO ON M5J2T3 |
Tel: | N/A |
Website: | N/A |
IR: | N/A |
Key People | ||
Mark A. Caranci President, Chief Executive Officer, Director | Ann P. Wong Chief Financial Officer, Director | Kathryn A. H. Banner Senior Vice President, Corporate Secretary |
Michael D. Clare Senior Vice President, Senior Portfolio Manager | Christopher Z. Cullen Senior Vice President | Manith Phanvongsa Senior Vice President |
Laura W. Lau Chief Investment Officer | Michelle L. Tiraborelli Vice President |
Business Overview |
Life & Banc Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund's investment objective is to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions and the opportunity for capital appreciation. To achieve these objectives, the Fund invests in a portfolio comprised of common shares of approximately six Canadian banks and four publicly traded Canadian life insurance companies. The Fund also writes covered call options and cash-covered put options in respect of the portfolio to generate additional distributable income for the Fund and/or to reduce the volatility of the Fund. The Fund's investment manager is Brompton Funds Limited. |
Financial Overview |
For the fiscal year ended 31 December 2022, Life & Banc Split Corp revenues decreased from C$161.4M to -C$40.2M. Net loss applicable to common stockholders totaled C$64.3M vs. income of C$140.2M. Revenues reflect Unrealized G/L on Investment Securities decrease from C$129.2M to -C$84.4M. Net loss reflects Selling/General/Admin Ex increase of 76% to C$1.8M (expense). |
Reporting Currency: | Canadian Dollars |
Enterprise value: | N/A |
Annual revenue (TTM): | $-40.23M as of Dec 31, 2022 |
EBITDA (TTM): | -$46.51M as of Dec 31, 2022 |
Net annual income (TTM): | -$64.34M as of Dec 31, 2022 |
Free cash flow (TTM): | -$103.80M as of Dec 31, 2022 |
Net Debt Last Fiscal Year: | N/A |
Shares outstanding: | 41,596,531 as of Mar 7, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |