HIMIPref™ Index Performance, August 2007

Performance of the HIMI Indices for August was:

Total Return, August 2007
Index Performance
Ratchet +0.48%
FixFloat +0.21%
Floater -1.11%
OpRet +0.43%
SplitShare -0.19%
Interest +0.89%
PerpetualPremium +0.72%
PerpetualDiscount +0.24%

Things look relatively normal this month, as opposed to the huge variances in the July returns

As has been discussed elsewhere, the Claymore ETF returned +0.47% on the month; this number is after all fees and expenses.
The linked post also shows the approximate return for the other major passive preferred share fund listed on the TSX, DPS.UN. This fund returned (approximately; they do not report month-end NAVs) +0.22% on the month

Malachite Aggressive Preferred Fund (MAPF), managed by my firm returned -0.34% on the month. Returns assume reinvestment of dividends and are reported after expenses but before fees. Past performance is not  a guarantee of future performance. You can lose money investing in Malachite Aggressive Preferred Fund or any other fund.

As discussed, I’m not particularly pleased about the month’s underperformance – but I’m still earning my fees over a three month period, so I’ll just have to take the bad with the good.

The return of the “BMO Capital Markets 50” in August was +0.57%, but this will not be analyzed in detail due to the proprietary nature of this index.

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