I briefly mentioned yesterday that split-shares were getting hit this month relative to Operating Retractible issues, so I’ll just post a few things to substantiate that claim.
| Comparitive Performance, Month to August 27 | |||
| Index | Value 2007-07-31 |
Value 2007-08-27 |
Change |
| OpRet | 1,020.3 | 1,023.0 | +0.26% |
| SplitShare | 1,046.5 | 1,037.9 | -0.83% |
… which seems clear enough.
Additionally, I have uploaded:
- A graph of the yield curve’s Retractibility Premium vs. the SplitShare Premium for 2007 to date.
- An evaluation of the OpRet Index as of 2007-08-27
- An evaluation of the SplitShare index as of 2007-08-27.
Enjoy!
[…] Preferreds had quite a good day, ignoring the stock market and the credit concerns. But it’s always the way! No sooner do I point out what a lousy month the splitShares are having than they have a great day and make up half the difference between their returns and OpRet’s. It’s nice to see, but maybe I should just keep my mouth shut from now on. […]
[…] The fund has a large weighting in split-shares, which underperformed this month. The market is currently deeply discounting split shares as a class, as I noted in a post on August 28 […]