Best & Worst Performers: July 2009

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.

July 2009
Issue Index DBRS Rating Monthly Performance Notes (“Now” means “July 31”)
BAM.PR.K Floater Pfd-2(low) -3.23% Was the third-worst performer in June.
PWF.PR.J OpRet Pfd-1(low) -0.27% Now with a pre-tax bid-YTW of 3.37% based on a bid of 25.76 and a softMaturity 2013-7-30 at 25.00.
CM.PR.A OpRet Pfd-1(low) +0.19% Now with a pre-tax bid-YTW of 13.74% based on a bid of 25.91 and a call 2009-8-30 at 25.50. Since dividend is $1.325 and CM saves $0.25 p.a. on the redemption price, it will probably survive until softMaturity 2011-7-30, when it will have realized a yield of 3.42% … but you’re taking your chances!
BAM.PR.H OpRet Pfd-2(low) +0.28% Now with a pre-tax bid-YTW of 5.17% based on a bid of 25.50 and a softMaturity 2012-3-30 at 25.00.
MFC.PR.A OpRet Pfd-1(low) +0.71% Now with a pre-tax bid-YTW of 3.82% based on a bid of 25.54 and a softMaturity 2015-12-18 at 25.00.
SLF.PR.C Perpetual-Discount Pfd-1(low) +9.25% Now with a pre-tax bid-YTW of 6.16% based on a bid of 18.31 and a limitMaturity.
SLF.PR.D Perpetua-lDiscount Pfd-1(low) +9.62% Now with a pre-tax bid-YTW of 6.15% based on a bid of 18.35 and a limitMaturity.
CIU.PR.A Perpetual-Discount Pfd-2(high) +9.92% Now with a pre-tax bid-YTW of 5.81% based on a bid of 20.17 and a limitMaturity. Was the fourth-worst performer in June.
BNA.PR.C SplitShare Pfd-2(low) +10.65% Now with a pre-tax bid-YTW of 9.15% based on a bid of 17.76 and a hardMaturity 2019-1-10 at 25.00. Was the best performer in June.
TRI.PR.B Floater Pfd-2(low) +10.93% Moved to Scraps at July rebalancing on volume concerns. Was the worst performer in June.

Leave a Reply

You must be logged in to post a comment.