Performance of the HIMIPref™ Indices for June, 2008, was:
| Total Return | ||
| Index | Performance June 2008 |
Three Months to June 30, 2008 |
| Ratchet | +0.38% | +2.68% |
| FixFloat | -0.41% | -1.02% |
| Floater | -3.09% | +6.39% |
| OpRet | -0.32% | +0.53% |
| SplitShare | -2.02% | +1.31% |
| Interest | +0.91% | +2.72% |
| PerpetualPremium | -1.38% | -0.57% |
| PerpetualDiscount | -5.31% | -3.90% |
| Funds (see below for calculations) | ||
| CPD | -4.26% | -2.90% |
| DPS.UN | -3.53% | -2.20% |
| Index | ||
| BMO-CM 50 | -3.43% | -2.09% |
Claymore has published NAV data for its exchange traded fund (CPD) and I have derived the following table:
| CPD Return, 1- & 3-month, to June, 2008 | ||||
| Date | NAV | Distribution | Return for Sub-Period | Monthly Return |
| March 31, 2008 | 17.60 | |||
| April 30 | 17.60 | 0.00% | ||
| May 30 | 17.85 | 0.00 | +1.42% | |
| June 25 | 17.01 | 0.2097 | -3.53% | -4.26% |
| June 30, 2008 | 16.88 | -0.76% | ||
| Quarterly Return | -2.90% | |||
The DPS.UN NAV for June 25 has been published so we may calculate the June returns (approximately!) for this closed end fund:
| DPS.UN NAV Return, June-ish 2008 | |||
| Date | NAV | Distribution | Return for period |
| May 28 | $20.89 | +0.87% | |
| May 30 | N/A | +0.11% | |
| June 25 | $20.33 | -2.79% | |
| June 30 | N/A | -0.76% | |
| Estimated June Return | -3.53% | ||
| CPD had a NAV of $17.83 on May 28 and $17.85 on May 30. The estimated May end-of-month stub period return for CPD was therefore +0.11%, which is applied to DPS.UN as described above. | |||
| CPD had a NAV of $17.01 on June 25 and $16.88 on June 30. The estimated June end-of-month stub period return for CPD was therefore -0.76%, which is applied to DPS.UN as described above. | |||
Now, to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for April and May:
| DPS.UN NAV Returns, three-month-ish to end-June-ish, 2008 | |
| April-ish | +0.39% |
| May-ish | +0.98% |
| June-ish | -3.53% |
| Three-months-ish | -2.20% |
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