{"id":32223,"date":"2006-08-08T00:39:44","date_gmt":"2006-08-08T04:39:44","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=59"},"modified":"2006-08-08T00:39:44","modified_gmt":"2006-08-08T04:39:44","slug":"mapf-results-for-july-2006","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=32223","title":{"rendered":"MAPF, Results for July, 2006"},"content":{"rendered":"<p>At July 31, 2006, MAPF had a unit value of $9.3608, a return of 0.24% (after expenses, before fees) on the month, vs the BMO-NB50 return of 0.35%<\/p>\n<p>The last three months have been flat against the index &#8211; there are, I think, two major sources of this reduction in excess returns:<\/p>\n<ul>\n<li><strong>Reduced volatility<\/strong> : the market&#8217;s not doing anything! It&#8217;s volatility that allows for trading with significant profit.<\/li>\n<li><strong>BAM.PR.J<\/strong> The fund has a large holding in BAM.PR.J, which returned -0.51% on the month and is -2.52% YTD (total return). I just don&#8217;t understand it &#8211; for some insight into just why I don&#8217;t understand it, see <a title=\"Permanent Link: Operating-Retractible Yield Curve, 2006-07-26\" href=\"http:\/\/www.prefblog.com\/?p=41\" rel=\"bookmark\">Operating-Retractible Yield Curve, 2006-07-26<\/a>. Surely at some point the issue will come more in line with its peers &#8230; but I&#8217;ve been saying that for a while now &#8230;<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>At July 31, 2006, MAPF had a unit value of $9.3608, a return of 0.24% (after expenses, before fees) on the month, vs the BMO-NB50 return of 0.35% The last three months have been flat &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-32223","post","type-post","status-publish","format-standard","hentry","category-mapf"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32223","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=32223"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32223\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}