The fund underperformed in March, as DeemedRetractibles issued by insurers underperformed the rest of market. The fund’s Net Asset Value per Unit as of the close March 30, 2012, was 10.3944, after giving effect to …
Search Results for: conversion
LFE.PR.A Unveils Reorg Proposal
Canadian Life Companies Split Corp. has finally announced the details of its reorganization: The purpose of the meeting is to consider and vote upon a special resolution to reorganize the Company, including a capital reorganization …
New Issue: ELF Straight Perpetual 5.50%
E-L Financial Corporation Limited has announced: that it has entered into an agreement with Scotia Capital Inc. and TD Securities Inc., on behalf of a syndicate of underwriters, under which the underwriters have agreed to …
MAPF Performance: February 2012
The fund underperformed in February as the extremely poor performance of the YLO preferreds reduced returns by slightly over 100bp. The fund’s Net Asset Value per Unit as of the close February, 2012, was 10.6167. …
MAPF Performance: January 2012
The fund strongly outperformed in January as the fund’s long-standing overweighting in insurance company Straight Perpetuals finally paid off. The fund’s Net Asset Value per Unit as of the close January 31, 2012, was 10.6827. …
BCE.PR.F Secondary Offering at 24.25
I have heard from multiple authoritative sources that a big holder of BCE.PR.F is selling 2-million shares at 24.25 through a syndicate of dealers. They were last quoted at 24.53-60, 3×48, having traded 8,206 shares …
January 4, 2012
Have we seen this movie before? Esoteric assets are being securitized in volume: Sales of bonds backed by everything from timeshare rentals to shipping containers to entertainment royalties are poised to rise this year as …
YLO.PR.A and YLO
I confessed puzzlement yesterday about the price of YLO.PR.A … trading with an implied common conversion price of about $0.10, about half the current price of YLO. Assiduous Reader prefhound stepped up with two reasons: …
December 15, 2011
Ontario is on Outlook-Negative by Moody’s: Ontario’s rating outlook was cut to negative from stable by Moody’s Investors Service on concern Canada’s most populous province faces a higher risk in meeting fiscal targets given a …
November 7, 2011
Another small step in the decline of the West: Hong Kong companies are issuing a record amount of bonds in Singapore dollars as Europe’s debt crisis boosts relative yields on securities denominated in the U.S. …