Best & Worst Performing Issues : December, 2007

These are total returns, with dividends presumed to have been reinvested at the bid price on the ex-date. The list has been restricted to issues in the HIMIPref™ indices.

Issue Index DBRS Rating Monthly Performance Notes (“Now” means “December 31”)
BAM.PR.B Floater Pfd-2(low) -15.01% Hideous performance in November (-10.60%) is now followed up with even worse performance in December.
BAM.PR.K Floater Pfd-2(low) -14.29%  Another BAM issue that performed appallingly in November (-9.68%), although it is not clear to me whether the critical factor is “BAM” or “Floater”.
BSD.PR.A InterestBearing Pfd-2 -8.00% Asset coverage of just under 1.7:1 as of December 28, according to the company. Now with a pre-tax bid-YTW of 7.77% (mostly as interest) based on a bid of 9.09 and a hardMaturity 2015-3-31 at 10.00. Dividends on the Capital Stock have been reduced, which should help this issue’s asset coverage going forward. This issue has now fallen back from its superb performance (+5.94%) in November.
CM.PR.J PerpetualDiscount Pfd-1(low) -5.52% Now with a pre-tax bid-YTW of 5.82% based on a bid of 19.37 and a limitMaturity.
W.PR.H PerpetualDiscount Pfd-2(low) -4.37% Now with a pre-tax bid-YTW of 6.08% based on a bid of 22.61 and a limitMaturity.
PWF.PR.L PerpetualDiscount Pfd-1(low) +7.36% Now with a pre-tax bid-YTW of 5.41% based on a bid of 23.92 and a limitMaturity.
POW.PR.D PerpetualDiscount Pfd-2(high) +7.93% Now with a pre-tax bid-YTW of 5.36% based on a bid of 23.36 and a limitMaturity.
BAM.PR.N PerpetualDiscount Pfd-2(low) +8.60% Now with a pre-tax bid-YTW of 6.38% based on a bid of 18.76 and a limitMaturity.
ELF.PR.F PerpetualDiscount Pfd-2(low) +8.64% Now with a pre-tax bid-YTW of 6.46% based on a bid of 20.60 and a limitMaturity. This was one of November’s worst performers (-11.20%), so this improvement represents something of a bounce.
ELF.PR.G PerpetualDiscount Pfd-2(low) +6.21% Now with a pre-tax bid-YTW of 6.21% based on a bid of 19.20 and a limitMaturity. Just as with ELF.PR.F, above, this performance represents a bounce from November’s return of -14.21%.

One Response to “Best & Worst Performing Issues : December, 2007”

  1. […] be somewhat volatile – they both made the January 08 Best Performers’ List, while W.PR.H made December 07’s Worst. W.PR.H was transfered to the PerpetualDiscount index in the October 07 […]

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