The Bank of Canada statement held no surprises: Canada’s economy grew by 0.6 per cent at annual rates in the fourth quarter of 2012, with solid growth across most domestic components of GDP offset by …
Search Results for: conversion
LFE.WT.A Exercise Date Changed
In June 2012, it was announced that each share of LFE.PR.A had been exchanged for One share of LFE.PR.B One LFE.WT.A (exercise price $12.00 for a unit, expiry 2013-6-3) One LFE.WT.B (exercise price $12.60 for …
MAPF Performance: February 2013
The fund slightly underperformed in February, due again to strong performance from junk issues held by ZPR. For example, of the sixteen BCE issues tracked by HIMIPref™ (which are heavily weighted in the indices, but …
February 27, 2013
To my surprise, an adult was quoted regarding the role of underwriters in capital markets: In both cases, banks that profited by bringing the securities to market were later accused of misrepresenting the risks and …
February 6, 2013
Bloomberg has an the regulatory realities of ratings: The U.S. lawsuit against Standard & Poor’s raises pressure to accelerate competition in the ratings industry while the government itself has adopted rules that left the business …
BCE.PR.C To Reset To 3.55%
BCE Inc. has announced: BCE Inc. will, on March 1, 2013, continue to have Cumulative Redeemable First Preferred Shares, Series AC (“Series AC Preferred Shares”) outstanding if, following the end of the conversion period on …
MAPF Performance: January, 2013
The fund underperformed in January, as DeemedRetractibles (+0.04%) were greatly outperformed by FixedResets (+0.67%) and PerpetualPremiums (+0.75%). Additionally, there was strong performance by junk issues (rated Pfd-3(high) or lower by DBRS). For example, of the …
January 9, 2013
A Bank of Canada Working Paper by Katya Kartashova, Ben Tomlin examines House Prices, Consumption and the Role of Non-Mortgage Debt: This paper examines the relationship between house prices and consumption, through the use of …
January 8, 2013
Interesting take on chaotic theories of markets: Dr Tobias Galla from The University of Manchester and Professor Doyne Farmer from Oxford University and the Santa Fe Institute, ran thousands of simulations of two-player games to …
MAPF Performance, December 2012
The fund outperformed in December, boosted by good performance by the MFC and SLF DeemedRetractibles. DeemedRetractibles as a group outperformed FixedResets, +96bp vs. +76bp respectively. The fund’s Net Asset Value per Unit as of the …