HIMIPref™ Index Rebalancing: April 2009

HIMI Index Changes, April 30, 2009
Issue From To Because
BNA.PR.B SplitShare Scraps Volume
CGI.PR.B Scraps SplitShare Volume
TRI.PR.B Scraps Floater Volume

To my chagrin, there are now only two issues left in the SplitShare index, all from BAM Split Corp.: BNA.PR.A and BNA.PR.C.

There were the following intra-month changes:

HIMI Index Changes during April 2009
Issue Action Index Because
RY.PR.X Add FixedReset New issue
NSI.PR.C Delete Scraps Redeemed
WN.PR.B Delete Scraps Redeemed
HSB.PR.E Add FixedReset New Issue
RY.PR.Y Add FixedReset New Issue

HSB.PR.E is one of those issues which are sent to try us. It was announced on March 23 with an anticipated closing date of March 31. I assumed it had settled – albeit without trading – and added it to the index for March 31. However, the issue had not settled; there were problems due to the downgrade by S&P. A new term sheet was released and the issue settled on April 8.

Update: The SplitShares index is now comprised of BNA.PR.A, BNA.PR.C & CGI.PR.B.

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