{"id":28639,"date":"2015-04-13T00:59:57","date_gmt":"2015-04-13T05:59:57","guid":{"rendered":"http:\/\/prefblog.com\/?p=28639"},"modified":"2015-04-13T00:59:57","modified_gmt":"2015-04-13T05:59:57","slug":"lcs-pr-a-annual-report-2014","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=28639","title":{"rendered":"LCS.PR.A: Annual Report 2014"},"content":{"rendered":"

Brompton Lifeco Split Corp. has released its Annual Report to December 31, 2014<\/a>.<\/p>\n

\n\n\n\n\n\n\n\n\n
LCS \/ LCS.PR.A Performance<\/td>\n<\/tr>\n
Instrument<\/td>\nOne
Year<\/td>\n		Three
Years<\/td>\n		Five
Years<\/td>\n<\/tr>\n
Whole Unit<\/td>\n+5.1%<\/td>\n+26.6%<\/td>\n+8.2%<\/td>\n<\/tr>\n
LCS.PR.A<\/td>\n+5.6%<\/td>\n+5.9%<\/td>\n+5.4%<\/td>\n<\/tr>\n
LCS<\/td>\n+4.6%<\/td>\nN\/A<\/td>\n+11.5%<\/td>\n<\/tr>\n
S&P\/TSX Financial Index<\/td>\n+12.6%<\/td>\n+18.7%<\/td>\n+11.8%<\/td>\n<\/tr>\n
S&P\/TSX Composite Index<\/td>\n+10.6%<\/td>\n+10.2%<\/td>\n+7.5%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

Note that the benchmarking isn’t ideal, since the Financial index will include banks, while the fund has a mandate only for insurers.<\/p>\n

Figures of interest are:<\/p>\n

MER: 1.27% of the whole unit value, excluding Preferred share distributions and issuance costs and agents\u2019 fees in connection with the Fund\u2019s treasury offerings of Preferred shares,.<\/p>\n

Average Net Assets: We need this to calculate portfolio yield; and it’s tricky because there was massive issuance during the year. MER of 1.27% on Total Expenses excluding Preferred share distributions and issuance costs and agents\u2019 fees of $773,319 implies $60.89-million net assets. Preferred Share distributions of 1,883,142 @ 0.525 \/ share implies 3.587-million shares out on average. Average Unit Value (beginning & end of year) = (16.36 + 17.00) \/ 2 = 16.68. Therefore 3.587-million @ 16.68 = 59.8-million average net assets. Good agreement between these two methods! Call it $60.4-million average fund assets.<\/p>\n

Underlying Portfolio Yield: Dividends, interest and lending income received of 1.659-million divided by average net assets of 60.4-million is 2.77%<\/p>\n

Income Coverage: Net Investment Income (before capital gains & losses and issuance costs and agents\u2019 fees ) of $886,012 divided by Preferred Share Distributions of 1,883,142 is 47%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Brompton Lifeco Split Corp. has released its Annual Report to December 31, 2014. LCS \/ LCS.PR.A Performance Instrument OneYear ThreeYears FiveYears Whole Unit +5.1% +26.6% +8.2% LCS.PR.A +5.6% +5.9% +5.4% LCS +4.6% N\/A +11.5% S&P\/TSX …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-28639","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/28639","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=28639"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/28639\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}