{"id":17065,"date":"2011-11-18T01:23:24","date_gmt":"2011-11-18T05:23:24","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=17065"},"modified":"2011-11-18T01:23:24","modified_gmt":"2011-11-18T05:23:24","slug":"november-17-2011","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=17065","title":{"rendered":"November 17, 2011"},"content":{"rendered":"

Another synthetic ETF has closed<\/a>:<\/p>\n

Scotia Managed Companies Administration Inc. is pleased to announce that Moneda LatAm Corporate Bond Fund (the \u201cFund\u201d) has completed an initial public offering (the \u201cOffering\u201d) of 4,559,824 Class A Units and 440,890 Class U Units (collectively, the \u201cUnits\u201d) of the Fund at a price of Cdn.$10.00 per Class A Unit and U.S.$10.00 per Class U Unit for gross proceeds of Cdn.$45,598,240 and U.S.$4,408,900, respectively. The Class A Units of the Fund are listed and posted for trading on the Toronto Stock Exchange under the symbol \u201cMLD.UN.\u201d The Class U Units will not be listed on a stock exchange but may be converted into Class A Units on a weekly basis for liquidity purposes.<\/p>\n

The Fund is a closed-end investment fund established as a trust under the laws of the Province of Ontario. The Fund has been established to provide holders of Units (the \u2018\u2018Unitholders\u2019\u2019) with investment exposure to a diversified portfolio of fixed income securities of companies located in, or with significant operations in, Latin America, primarily denominated in U.S. dollars. The Fund\u2019s investment objectives are to: (i) preserve and enhance the net asset value of the Fund; and (ii) provide Unitholders with quarterly tax-advantaged distributions consisting primarily of returns of capital, in each case through exposure to the total return performance of the Moneda Deuda Latinoamericana Fondo de Inversion, a U.S.$856 million (as at June 30, 2011) Chilean listed investment fund established in 2000 which is actively managed by Moneda S.A. Administradora de Fondos de Inversion (the \u201cPortfolio Manager\u201d). Moneda Asset Management S.A., the parent company of the Portfolio Manager, was established in 1993 and is a leading independent asset manager headquartered in Santiago, Chile.<\/p><\/blockquote>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n1.2691 %<\/td>\n2,132.4<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.81 %<\/td>\n4.52 %<\/td>\n29,108<\/td>\n17.25<\/td>\n1<\/td>\n-1.2994 %<\/td>\n3,203.7<\/td>\n<\/tr>\n
Floater<\/td>\n3.37 %<\/td>\n3.38 %<\/td>\n157,770<\/td>\n18.75<\/td>\n2<\/td>\n1.2691 %<\/td>\n2,302.5<\/td>\n<\/tr>\n
OpRet<\/td>\n4.94 %<\/td>\n0.71 %<\/td>\n52,656<\/td>\n1.49<\/td>\n7<\/td>\n-0.1531 %<\/td>\n2,488.3<\/td>\n<\/tr>\n
SplitShare<\/td>\n5.74 %<\/td>\n6.37 %<\/td>\n55,862<\/td>\n5.12<\/td>\n3<\/td>\n0.0838 %<\/td>\n2,519.6<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1531 %<\/td>\n2,275.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.57 %<\/td>\n-0.81 %<\/td>\n102,833<\/td>\n0.13<\/td>\n13<\/td>\n-0.1542 %<\/td>\n2,157.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.30 %<\/td>\n5.32 %<\/td>\n102,763<\/td>\n14.81<\/td>\n17<\/td>\n0.0894 %<\/td>\n2,298.7<\/td>\n<\/tr>\n
FixedReset<\/td>\n5.10 %<\/td>\n2.93 %<\/td>\n228,313<\/td>\n2.49<\/td>\n63<\/td>\n-0.0599 %<\/td>\n2,350.3<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.03 %<\/td>\n4.39 %<\/td>\n208,359<\/td>\n3.79<\/td>\n46<\/td>\n-0.1485 %<\/td>\n2,220.7<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
BAM.PR.J<\/td>\nOpRet<\/td>\n-1.44 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-31
\nMaturity Price : 26.00
\nEvaluated at bid price : 27.36
\nBid-YTW : 3.21 %<\/td>\n<\/tr>\n
GWO.PR.N<\/td>\nFixedReset<\/td>\n-1.41 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.50
\nBid-YTW : 3.43 %<\/td>\n<\/tr>\n
IAG.PR.F<\/td>\nDeemed-Retractible<\/td>\n-1.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.85
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n
BAM.PR.G<\/td>\nFixedFloater<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-11-17
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.75
\nBid-YTW : 4.52 %<\/td>\n<\/tr>\n
GWO.PR.G<\/td>\nDeemed-Retractible<\/td>\n-1.00 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.69
\nBid-YTW : 5.48 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n1.13 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-11-17
\nMaturity Price : 22.81
\nEvaluated at bid price : 23.21
\nBid-YTW : 5.17 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n1.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-11-17
\nMaturity Price : 15.47
\nEvaluated at bid price : 15.47
\nBid-YTW : 3.42 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset<\/td>\n204,511<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-11-17
\nMaturity Price : 23.45
\nEvaluated at bid price : 25.73
\nBid-YTW : 2.96 %<\/td>\n<\/tr>\n
BNS.PR.N<\/td>\nDeemed-Retractible<\/td>\n97,325<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-01-29
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.35
\nBid-YTW : 4.10 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nDeemed-Retractible<\/td>\n60,962<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.19
\nBid-YTW : 6.13 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nDeemed-Retractible<\/td>\n54,511<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.31
\nBid-YTW : 6.48 %<\/td>\n<\/tr>\n
CM.PR.K<\/td>\nFixedReset<\/td>\n49,503<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-07-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.71
\nBid-YTW : 2.82 %<\/td>\n<\/tr>\n
RY.PR.E<\/td>\nDeemed-Retractible<\/td>\n45,442<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2016-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.06
\nBid-YTW : 4.44 %<\/td>\n<\/tr>\n
There were 21 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
BAM.PR.J<\/td>\nOpRet<\/td>\nQuote: 27.36 – 27.90
\nSpot Rate : 0.5400
\nAverage : 0.3962<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-31
\nMaturity Price : 26.00
\nEvaluated at bid price : 27.36
\nBid-YTW : 3.21 %<\/td>\n<\/tr>\n

HSE.PR.A<\/td>\nFixedReset<\/td>\nQuote: 25.79 – 26.18
\nSpot Rate : 0.3900
\nAverage : 0.2539<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-11-17
\nMaturity Price : 23.45
\nEvaluated at bid price : 25.79
\nBid-YTW : 3.15 %<\/td>\n<\/tr>\n

SLF.PR.E<\/td>\nDeemed-Retractible<\/td>\nQuote: 21.16 – 21.53
\nSpot Rate : 0.3700
\nAverage : 0.2416<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.16
\nBid-YTW : 6.72 %<\/td>\n<\/tr>\n

IAG.PR.C<\/td>\nFixedReset<\/td>\nQuote: 26.51 – 26.88
\nSpot Rate : 0.3700
\nAverage : 0.2480<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2013-12-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.51
\nBid-YTW : 3.64 %<\/td>\n<\/tr>\n

BAM.PR.X<\/td>\nFixedReset<\/td>\nQuote: 24.51 – 24.90
\nSpot Rate : 0.3900
\nAverage : 0.2734<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2041-11-17
\nMaturity Price : 22.95
\nEvaluated at bid price : 24.51
\nBid-YTW : 3.58 %<\/td>\n<\/tr>\n

RY.PR.N<\/td>\nFixedReset<\/td>\nQuote: 26.94 – 27.29
\nSpot Rate : 0.3500
\nAverage : 0.2411<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-02-24
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.94
\nBid-YTW : 2.67 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Another synthetic ETF has closed: Scotia Managed Companies Administration Inc. is pleased to announce that Moneda LatAm Corporate Bond Fund (the \u201cFund\u201d) has completed an initial public offering (the \u201cOffering\u201d) of 4,559,824 Class A Units …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-17065","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17065"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/17065\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}