Life & Banc Split

What Life & Banc Split does

Life & Banc Split Corp. is a Toronto-domiciled, publicly traded split-share investment corporation that invests in shares of Canada's six largest banks (Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce, and National Bank of Canada) and the four largest Canadian life insurance companies (Great-West Lifeco, Manulife Financial, Sun Life Financial, and Power Corporation of Canada subsidiaries). Founded in 2006 and listed on the Toronto Stock Exchange under the tickers LBS (Class A) and LBS.PR.A (Preferred), the fund splits its capital structure into two share classes: Preferred shares, which offer cumulative quarterly distributions (6.65% current rate, 8.3% yield to maturity at the $9.60 issue price) and principal protection, and Class A shares, which offer 8.94% current distribution yield and leveraged exposure to the underlying portfolio's price movements; Class A shares have reportedly delivered a 23.6% per annum total return over the past 10 years.

The company is externally managed by Brompton Funds Limited, a Canadian investment manager with over 25 years of experience in split-share structures and a stated track record of more than $4.0B in distributions paid across its product family. Operationally, Brompton provides portfolio management, fund administration and distribution services from its Toronto headquarters at Bay Wellington Tower, Brookfield Place; the company's in-house employee base is in the 11-50 range. The technology stack is conventional for a split-share fund: no APIs, software products, patents, AI systems or proprietary data assets are disclosed.

Distribution is executed through Canadian investment advisors and ten-plus self-serve online brokerage platforms (BMO InvestorLine, CIBC Investor's Edge, RBC Direct Investing, Scotia iTRADE, TD Direct Investing, National Bank Direct Brokerage, Qtrade, Questrade, Virtual Brokers, Laurentian Bank Discount Brokerage), supplemented by BNN Bloomberg media appearances and an email newsletter. The company has executed a 10-for-100 Class A split (effective October 2025) and announced a 12-for-100 Class A split (record date June 25, 2026) with a targeted ~12% distribution increase, alongside treasury preferred share offerings in 2023 (~$94M), 2024 (~$26M) and 2026 (~$55.8M). Because the structure is a pass-through investment vehicle, traditional corporate revenue is not reported; shareholders are the economic beneficiaries of portfolio income.

Name

Life & Banc Split

Legal name

Life & Banc Split Corp.

Website

https://bromptongroup.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Life & Banc Split Corp. is a Toronto Stock Exchange-listed split-share investment corporation that invests in Canada's six largest banks and four largest life insurers, offering Preferred shares for income and Class A shares for leveraged growth, managed by Brompton Funds Limited.

Ownership category

akta.pro rank

Product category

Split-Share Investment Fund

NAICS

Open-End Investment Funds (52591), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Multi-Asset Mutual Funds & UCITS (Balanced/Allocation Funds) (FSAAAJAA)

Keywords

• Split share funds
• Canadian financial stocks
• Preferred share income
• Leveraged equity exposure
• Dividend distribution

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Investment Portfolio Returns: Life & Banc Split Corp. generates returns by investing in shares of major Canadian banks and life insurance companies, distributing income to Preferred and Class A shareholders
2. Preferred Share Distributions: Quarterly cumulative preferred distributions at 8.3% yield on $9.60 per share, providing steady income to preferred shareholders
3. Class A Share Distributions: Monthly distributions to Class A shareholders, with distribution rate of 8.94% and planned increase to $0.10 per share following June 2026 stock split

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Life & Banc Split Corp. is a Canadian split-share investment fund that issues two distinct classes of shares — Preferred Shares (LBS.PR.A) offering steady quarterly distributions and downside protection, and Class A Shares (LBS) providing enhanced, leveraged growth exposure. The fund invests the proceeds in shares of Canada's "Big 6" Banks (Royal Bank of Canada, TD, Scotiabank, BMO, CIBC, National Bank) and four largest life insurance companies (Great-West Lifeco, Manulife, Sun Life, Power Corporation subsidiaries).

Product overview

Life & Banc Split Corp. (LBS) is a Canadian split share corporation managed by Brompton Funds that invests in shares of Canada's 'Big 6' Banks and 4 Largest Lifecos. The fund issues two distinct classes of shares: Preferred Shares (offering steady income and downside protection for conservative investors) and Class A Shares (offering enhanced growth potential with leveraged exposure to the underlying portfolio for growth-oriented investors). The fund has delivered strong performance with Class A shares generating 23.6% per annum total return over 10 years.

Differentiator

Problem solved

Functional benefit

Products and services

• Life & Banc Split Corp. - Preferred Shares (LBS.PR.A)

Quantifiable outcome

• 23.6% per annum total return over 10 years for Class A shares
• +3 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Brompton Funds LimitedcoreImplementation/ SI/ Consulting PartnerBrompton Funds Limited is the manager and portfolio manager of Life & Banc Split Corp., providing investment management, fund administration, and distribution services. Brompton has over 25 years of experience in split share funds and has paid out over $4.0 billion in distributions.

Scale indicators7 records

Recent moves7 records

Expansion highlights3 records

Direct peers

• Brompton North American Financials Dividend ETF: Brompton ETF (TSX: BFIN) providing passive exposure to North American financial stocks. Overlapping sector mandate and same management team, differing primarily in vehicle type (ETF vs. split-share corp) and yield profile.
• Brompton Split Corp. Enhanced Equity Income ETF: Brompton's enhanced equity income ETF (TSX: CLSA) using covered-call and structured strategies to generate income. Comparable Brompton-managed Canadian income strategy with overlapping distribution characteristics.
• Brompton Split Banc Corp. Sibling Brompton split-share corporation (TSX: SBC) focused on Canadian banks with the same split-share Preferred/Class A structure. Directly comparable mechanism and overlapping bank holdings with LBS.
• Dividend 15 Split Corp. Independent Canadian split-share corporation that uses the same dual-class Preferred/Class A structure to deliver enhanced yield. Directly comparable product structure and Canadian retail distribution model.
• Global Dividend Growth Split Corp. Brompton-managed split-share fund (TSX: GDV) using identical Preferred/Class A split-share mechanics. Comparable structure though with non-Canadian geographic exposure.
• Dividend Growth Split Corp. Another Brompton-managed split-share corporation (TSX: DGS) using the same dual-class Preferred/Class A structure managed by the same Brompton team. Directly comparable structure and distribution mechanism, though broader sector focus.
• Power & Infrastructure Split Corp. Brompton-managed split-share corporation (TSX: PWI) using the same Preferred/Class A split-share structure. Directly comparable vehicle structure, though with utility/infrastructure sector exposure.
• Brompton Lifeco Split Corp. Sibling Brompton-managed split-share corporation (TSX: LCS) focused exclusively on Canadian life insurance companies. Directly comparable split-share structure, same manager, and overlapping underlying Lifeco holdings — making it the closest comparable vehicle to LBS.

Emerging players

• Quadravest Split Income ETFs: Canadian manager running covered-call split funds (e.g., Quad Real Split Income). Partially comparable split-share / income strategy and Canadian distribution, though with a smaller AUM base.

Broad incumbents

• iShares S&P/TSX Capped Financial Services Index ETF: BlackRock's flagship Canadian financials ETF (TSX: XFN) offering low-cost passive exposure to the same Canadian bank and insurance names. Competes for advisor wallet share with LBS via scale and expense ratio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/bromptonfunds
• LinkedInlinkedin.com/company/brompton-group

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Life & Banc Split