Performance of the HIMIPref™ Indices for July, 2008, was:
| Total Return | ||
| Index | Performance July 2008 |
Three Months to July 31, 2008 |
| Ratchet | N/A | N/A |
| FixFloat | +5.94% | +3.00% |
| Floater | -2.01% | +5.17% |
| OpRet | -1.28% | -1.05% |
| SplitShare | -0.23% | -0.76% |
| Interest | -0.18% | +1.92% |
| PerpetualPremium | -1.68% | -2.60% |
| PerpetualDiscount | -3.34% | -7.22% |
| Funds (see below for calculations) | ||
| CPD | -2.25% | -5.09% |
| DPS.UN | -3.16% | -5.66% |
| Index | ||
| BMO-CM 50 | ||
Claymore has published NAV data for its exchange traded fund (CPD) and I have derived the following table:
| CPD Return, 1- & 3-month, to July, 2008 | ||||
| Date | NAV | Distribution | Return for Sub-Period | Monthly Return |
| 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% | ||
| July 31, 2008 | 16.50 | 0.00 | -2.25% | |
| Quarterly Return | -5.09% | |||
The DPS.UN NAV for July 30 has been published so we may calculate the July returns (approximately!) for this closed end fund:
| DPS.UN NAV Return, July-ish 2008 | |||
| Date | NAV | Distribution | Return for period |
| June 25 | $20.33 | ||
| June 30 | N/A | -0.76% | |
| July 30 | $19.48 | -4.18% (from June 25) |
|
| July 31 | N/A | +0.30% | |
| Estimated July Return | -3.16% | ||
| 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. | CPD had a NAV of $16.45 on July 30 and $16.50 on July 31. The estimated July end-of-month stub period return for CPD was therefore +0.30%, 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 May and June
| DPS.UN NAV Returns, three-month-ish to end-July-ish, 2008 | |
| May-ish | +0.98% |
| June-ish | -3.53% |
| July-ish | -3.16% |
| Three-months-ish | -5.66% |
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[…] to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for July and […]