The fund underperformed in June, due largely to poor performance by insurer-issued DeemedRetractibles and BNA.PR.C. With respect to BNA.PR.C, a major seller appeared towards the end of the month who disposed of a large block …
Search Results for: performance
MAPF Performance: May 2012
The fund was approximately even with the index in May, as outperformance in high-coupon GWO issues and BNA.PR.C was offset by weakness in the low-coupon SLF and MFC issues. The fund’s Net Asset Value per …
MAPF Performance: April 2012
The fund underperformed in April, for reasons that remain unclear – see the discussion below. The fund’s Net Asset Value per Unit as of the close April 30, 2012, was 10.4438. Returns to April, 2012 …
MAPF Performance: March, 2012
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 …
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. …
MAPF Performance: December 2011
The fund probably underperformed in December, although comparators are not yet available. The fund’s Net Asset Value per Unit as of the close December 30 was $10.0793 after distribution of $0.162247 dividends and $0.299965 capital …
MAPF Performance: November 2011
The fund underperformed in November, largely due to a steep decline in the prices of SLF issues, which form a significant part of the fund’s holdings. The fund’s Net Asset Value per Unit as of …
MAPF Performance: October, 2011
The fund had a good month in October, making up some of the ground lost in September. The fund’s Net Asset Value per Unit as of the close October 31 was $10.4924. Returns to October …
MAPF Performance: September 2011
Well, there’s no sense trying to put a gloss on it: the fund had a horrible month in September. The fund’s Net Asset Value per Unit as of the close September 30 was $10.2709 after …