Malachite Aggressive Preferred Fund has been valued for March, 2007, month-end. The unit value is $9.4083. Returns over various periods are:
| MAPF Returns to April 30, 2007 | |
| One Month | -1.27% |
| Three Months | -0.19% |
| One Year | +6.67% |
| Two Years (annualized) | +6.53% |
| Three Years (annualized) | +7.59% |
| Four Years (annualized) | +11.77% |
| Five Years (annualized) | +9.71% |
| Six Years (annualized) | +10.77% |
Returns assume reinvestment of dividends, and are shown 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.
For more information, see the fund’s main page.
Rather a dispiriting month! A few trades popped up, but it seemed that every trade I made was to catch a falling knife – sometimes trends are like that! The fund’s asset allocation is very heavily tilted towards Split-Share corporations, with additional exposure to very-high-dividend perpetuals, so it’s quite defensive. I will emphasize that the defensiveness of this position is not due to any market call on my part, it’s simply the math filtering through … one way to think of this process is to observe that, in situations such as now, with the ongoing BCE rout causing panic & confusion, issues in the marketplace have dropped in price indiscriminately. Which is to say, they’ve all dropped by the same amount, regardless of safety. Which is to say, the defensive issues have dropped more on a risk-adjusted basis than the more aggressive issues and hence have increased in relative attractiveness.
The above, please remember, is an over-simplification for visualization purposes, not a claim of any specific price movements by any issue or a recommendation of any particular class of preferred share for investment purposes.