Index Performance: January 2009

Performance of the HIMIPref™ Indices for January, 2009, was:

Total Return
Index Performance
January 2009
Three Months
to
January 30, 209
Ratchet +7.03% -34.62%
FixFloat +10.59% -23.58%
Floater -4.35% -14.04%
OpRet +2.83% +2.63%
SplitShare +1.75% +0.46%
Interest +9.18% -3.88%
PerpetualPremium +6.45%* +1.18%*
PerpetualDiscount +6.45% +1.18%%
FixedReset +0.26% -7.32%
* The last member of the PerpetualPremium index was transferred to PerpetualDiscount at the October rebalancing; subsequent performance figures are set equal to the PerpetualDiscount index
Funds (see below for calculations)
CPD +3.26% -1.52%
DPS.UN +5.71% -2.78%
Index
BMO-CM 50 +3.98% -1.21%

That, by the way, is the best monthly return for the IndexBearing sub-index on record.

Claymore has published NAV and distribution data for its exchange traded fund (CPD) and I have derived the following table:

CPD Return, 1- & 3-month, to January 30, 2009
Date NAV Distribution Return for Sub-Period Monthly Return
October 31 15.04      
November 28, 2008 13.37 0.00   -11.10%
Dec 24 12.92 0.2135 -1.77% +7.28%
Dec 31, 2008 14.11   +9.21%
January 30, 2009 14.57 0.00   +3.26%
Quarterly Return -1.52%

The DPS.UN NAV for January 28 has been published so we may calculate the January returns (approximately!) for this closed end fund.

DPS.UN NAV Return, January-ish 2009
Date NAV Distribution Return for period
December 31, 2008 15.64    
January 28, 2009 16.51   +5.56%
Estimated January Ending Stub +0.14%
Estimated January Return +5.71%
* CPD had a NAV of $14.55 on January 28 and $14.57 on January 30. Return for this period for CPD was therefore +0.14%.
The January return for DPS.UN’s NAV is therefore the product of two period returns, +5.56% and +0.14%, to arrive at an estimate for the calendar month of +5.71%

Now, to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for November and December

DPS.UN NAV Returns, three-month-ish to end-January-ish, 2009
November-ish -12.95%
December-ish +5.65%
January-ish +5.71%
Three-months-ish -2.78%

One Response to “Index Performance: January 2009”

  1. […] to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for January and […]

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