The fund underperformed in April, due largely to the under-weighting in bank DeemedRetractible issues. Additionally, PerpetualPremiums, which are also under-weighted by the fund, did quite well despite the negative yield-to-worst on many of the issues. …
Search Results for: performance
MAPF Performance: March 2013
The fund underperformed in March, due again to strong performance from FixedReset, Floating Rate and junk issues held by ZPR. For example, of the sixteen BCE issues tracked by HIMIPref™ (which are heavily weighted in …
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 …
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 …
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 …
MAPF Performance: November 2012
The fund outperformed in November, due largely to stellar performance by the insurance-sector DeemedRetractibles with an assist from BNA.PR.C. DeemedRetractibles as a group outperformed FixedResets, +68bp vs. +5bp respectively. The fund’s Net Asset Value per …
MAPF Performance: October 2012
The fund outperformed in September, due largely to stellar performance by the SLF DeemedRetractibles, BNA.PR.C and several lower-rated issues. In contrast to the last few months, GWO, MFC & IAG DeemedRetractibles merely kept pace with …
MAPF Performance: September 2012
The fund outperformed in September, due largely to stellar performance by insurer-issued DeemedRetractibles and BNA.PR.C. … all this for the third straight month! However, there was a change in overall performance in that DeemedRetractibles in …
MAPF Performance: August 2012
The fund strongly outperformed in August, due largely to stellar performance by insurer-issued DeemedRetractibles and BNA.PR.C. Another major factor was the relative performance of FixedResets, which underperformed DeemedRetractibles by 57bp over the month – relative …
MAPF Performance: July 2012
The fund strongly outperformed in June July, due largely to stellar performance by insurer-issued DeemedRetractibles and BNA.PR.C. Another major factor was the relative performance of FixedResets, which underperformed DeemedRetractibles by 58bp over the month – …