{"id":40569,"date":"2020-03-22T01:49:01","date_gmt":"2020-03-22T06:49:01","guid":{"rendered":"http:\/\/prefblog.com\/?p=40569"},"modified":"2020-03-22T01:49:01","modified_gmt":"2020-03-22T06:49:01","slug":"lbs-pr-a-semi-annual-report-19h1","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=40569","title":{"rendered":"LBS.PR.A : Semi-Annual Report, 19H1"},"content":{"rendered":"<p>Brompton Life &#038; Banc Split Corp. has released its <a href=\"http:\/\/www.bromptongroup.com\/wp-content\/uploads\/2019\/08\/LBS-2019-INTERIM.pdf\">Semi-Annual Report to June 30, 2019<\/a>.<\/p>\n<p>Figures of interest are:<\/p>\n<p>MER: &#8220;The MER per unit, excluding Preferred share distributions (which were covered by the portfolio\u2019s dividend income and issue costs), was 0.92% for the first six months of 2019, compared to 0.91% for 2018.&#8221;<\/p>\n<p>Average Net Assets: We need this to calculate portfolio yield. There was issuance of units on April 4, 2019, so our first estimate is calculated as [412.0-million (NAV at beginning of period) + 470.4-million (NAV at end of period)] \/ 2 = 441.2-million. The second estimate is based on total preferred share dividends of 7.246-million divided by 0.2725\/share, implies 26.590-million units outstanding, with an initial NAVPU of 15.91 and a final NAVPU of 17.23, average 16.57, implies average assets of 440.6-million, which is surprisingly good agreement! Call it average Net Assets of $440.9-million.<\/p>\n<p>Underlying Portfolio Yield: (9.886-million dividends + negligible securities income) times two because it&#8217;s only half a year divided by average net assets of 440.9-million is 4.48%<\/p>\n<p>Income Coverage: Net Investment Income (excluding capital gains and issuance costs; and after expenses) of 7.766-million divided by Preferred Share Distributions of 7.246-million is 107%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brompton Life &#038; Banc Split Corp. has released its Semi-Annual Report to June 30, 2019. Figures of interest are: MER: &#8220;The MER per unit, excluding Preferred share distributions (which were covered by the portfolio\u2019s dividend &hellip;<\/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-40569","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40569","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=40569"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/40569\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}