{"id":50149,"date":"2019-04-22T20:58:00","date_gmt":"2019-04-23T00:58:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=50149"},"modified":"2025-09-29T21:00:55","modified_gmt":"2025-09-30T01:00:55","slug":"april-22-2019","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=50149","title":{"rendered":"April 22, 2019"},"content":{"rendered":"

FAIR Canada, that superannuation scheme for tired old regulatory hacks<\/a>, is in some well-deserved trouble<\/a>:<\/p>\n

The primary advocacy group for Canadian investors is losing money, looking for an executive director \u2013 and struggling to survive.
…<\/b>
FAIR Canada has survived in large part in recent years on a $2-million gift from Stephen Jarislowsky, the founder of investment firm Jarislowsky Fraser Ltd., and an additional $2-million contribution from the Ontario Securities Commission, which used money collected in settlements and from fines.<\/p>\n

Mr. Jarislowsky\u2019s 2014 gift was conditional on FAIR finding $4-million in matching gifts, but outside of the OSC money, it has fallen far short, Mr. Pascutto said. Mr. Jarislowsky has extended a deadline for the match several times, most recently agreeing to postpone it to this coming September from March 31.
…<\/b>
The Investment Industry Regulatory Organization of Canada (IIROC), which provided the initial funding for FAIR Canada, has given a total of $4.9-million over the years, including a $250,000 grant in the fall of 2018 from its restricted fund that comes from fines and settlements, spokeswoman Andrea Zviedris said in an e-mailed statement.<\/p>\n<\/blockquote>\n\n\n\n\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>\n-1.1780 %<\/td>\n2,083.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-1.1780 %<\/td>\n3,823.4<\/td>\n<\/tr>\n
Floater<\/td>\n5.62 %<\/td>\n6.00 %<\/td>\n51,942<\/td>\n13.89<\/td>\n3<\/td>\n-1.1780 %<\/td>\n2,203.4<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0000 %<\/td>\n3,284.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.87 %<\/td>\n4.72 %<\/td>\n75,126<\/td>\n3.80<\/td>\n8<\/td>\n0.0000 %<\/td>\n3,922.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.0000 %<\/td>\n3,060.6<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.58 %<\/td>\n-10.05 %<\/td>\n85,440<\/td>\n0.09<\/td>\n10<\/td>\n-0.0079 %<\/td>\n2,953.5<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.40 %<\/td>\n5.54 %<\/td>\n79,726<\/td>\n14.62<\/td>\n23<\/td>\n0.1771 %<\/td>\n3,105.9<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n5.21 %<\/td>\n5.36 %<\/td>\n178,946<\/td>\n14.94<\/td>\n61<\/td>\n0.3795 %<\/td>\n2,206.0<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.22 %<\/td>\n5.78 %<\/td>\n99,734<\/td>\n8.12<\/td>\n27<\/td>\n0.0505 %<\/td>\n3,075.8<\/td>\n<\/tr>\n
FloatingReset<\/td>\n4.24 %<\/td>\n4.36 %<\/td>\n55,148<\/td>\n2.66<\/td>\n5<\/td>\n-0.2158 %<\/td>\n2,409.7<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.07 %<\/td>\n3.75 %<\/td>\n288,500<\/td>\n2.18<\/td>\n23<\/td>\n0.2649 %<\/td>\n2,586.3<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n1.98 %<\/td>\n3.87 %<\/td>\n143,155<\/td>\n2.68<\/td>\n3<\/td>\n0.1951 %<\/td>\n2,641.9<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.98 %<\/td>\n6.77 %<\/td>\n105,651<\/td>\n8.25<\/td>\n22<\/td>\n0.7076 %<\/td>\n2,261.9<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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.B<\/td>\nFloater<\/td>\n-2.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 11.65
\nEvaluated at bid price : 11.65
\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n
PWF.PR.Q<\/td>\nFloatingReset<\/td>\n-1.64 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 14.36
\nEvaluated at bid price : 14.36
\nBid-YTW : 5.73 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n-1.49 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 13.20
\nEvaluated at bid price : 13.20
\nBid-YTW : 5.84 %<\/td>\n<\/tr>\n
BIP.PR.E<\/td>\nFixedReset Disc<\/td>\n-1.36 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 21.43
\nEvaluated at bid price : 21.77
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
TRP.PR.B<\/td>\nFixedReset Disc<\/td>\n-1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 12.36
\nEvaluated at bid price : 12.36
\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n-1.11 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 11.61
\nEvaluated at bid price : 11.61
\nBid-YTW : 6.02 %<\/td>\n<\/tr>\n
BIP.PR.C<\/td>\nFixedReset Disc<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-09-30
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.88
\nBid-YTW : 5.74 %<\/td>\n<\/tr>\n
BMO.PR.C<\/td>\nFixedReset Disc<\/td>\n1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 22.98
\nEvaluated at bid price : 24.04
\nBid-YTW : 5.08 %<\/td>\n<\/tr>\n
HSE.PR.G<\/td>\nFixedReset Disc<\/td>\n1.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 20.06
\nEvaluated at bid price : 20.06
\nBid-YTW : 6.44 %<\/td>\n<\/tr>\n
SLF.PR.J<\/td>\nFloatingReset<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 14.93
\nBid-YTW : 9.07 %<\/td>\n<\/tr>\n
BNS.PR.I<\/td>\nFixedReset Disc<\/td>\n1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 22.25
\nEvaluated at bid price : 22.93
\nBid-YTW : 4.61 %<\/td>\n<\/tr>\n
CU.PR.I<\/td>\nFixedReset Prem<\/td>\n1.17 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.95
\nBid-YTW : 2.49 %<\/td>\n<\/tr>\n
BNS.PR.H<\/td>\nFixedReset Prem<\/td>\n1.18 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-01-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.81
\nBid-YTW : 3.60 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n1.28 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 15.03
\nBid-YTW : 8.78 %<\/td>\n<\/tr>\n
IFC.PR.E<\/td>\nDeemed-Retractible<\/td>\n1.31 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.00
\nBid-YTW : 5.78 %<\/td>\n<\/tr>\n
MFC.PR.Q<\/td>\nFixedReset Ins Non<\/td>\n1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.68
\nBid-YTW : 6.79 %<\/td>\n<\/tr>\n
MFC.PR.N<\/td>\nFixedReset Ins Non<\/td>\n1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.40
\nBid-YTW : 7.63 %<\/td>\n<\/tr>\n
EMA.PR.H<\/td>\nFixedReset Disc<\/td>\n1.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 22.71
\nEvaluated at bid price : 23.75
\nBid-YTW : 5.19 %<\/td>\n<\/tr>\n
BAM.PR.Z<\/td>\nFixedReset Disc<\/td>\n1.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 20.62
\nEvaluated at bid price : 20.62
\nBid-YTW : 5.64 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Disc<\/td>\n1.87 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 21.51
\nEvaluated at bid price : 21.80
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\n2.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.90
\nBid-YTW : 7.81 %<\/td>\n<\/tr>\n
CU.PR.C<\/td>\nFixedReset Disc<\/td>\n3.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 18.60
\nEvaluated at bid price : 18.60
\nBid-YTW : 5.33 %<\/td>\n<\/tr>\n
IAF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n5.12 %<\/td>\nJust a reversal of Friday’s nonsense<\/a>.<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.15
\nBid-YTW : 6.28 %<\/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
NA.PR.C<\/td>\nFixedReset Disc<\/td>\n77,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 21.97
\nEvaluated at bid price : 22.36
\nBid-YTW : 5.50 %<\/td>\n<\/tr>\n
CM.PR.R<\/td>\nFixedReset Disc<\/td>\n67,400<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 22.22
\nEvaluated at bid price : 22.70
\nBid-YTW : 5.37 %<\/td>\n<\/tr>\n
BMO.PR.F<\/td>\nFixedReset Prem<\/td>\n56,651<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2024-05-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.26
\nBid-YTW : 4.91 %<\/td>\n<\/tr>\n
TRP.PR.D<\/td>\nFixedReset Disc<\/td>\n41,500<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 16.93
\nEvaluated at bid price : 16.93
\nBid-YTW : 5.94 %<\/td>\n<\/tr>\n
TRP.PR.K<\/td>\nFixedReset Prem<\/td>\n23,236<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.25
\nBid-YTW : 4.84 %<\/td>\n<\/tr>\n
MFC.PR.R<\/td>\nFixedReset Ins Non<\/td>\n18,200<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-03-19
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.18
\nBid-YTW : 4.77 %<\/td>\n<\/tr>\n
There were 5 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
SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\nQuote: 17.70 – 17.98
\nSpot Rate : 0.2800
\nAverage : 0.2049<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 17.70
\nBid-YTW : 7.60 %<\/td>\n<\/tr>\n

BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.75 – 22.20
\nSpot Rate : 0.4500
\nAverage : 0.3850<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 21.75
\nEvaluated at bid price : 21.75
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n

MFC.PR.M<\/td>\nFixedReset Ins Non<\/td>\nQuote: 18.88 – 19.20
\nSpot Rate : 0.3200
\nAverage : 0.2551<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2030-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.88
\nBid-YTW : 7.39 %<\/td>\n<\/tr>\n

BAM.PF.F<\/td>\nFixedReset Disc<\/td>\nQuote: 20.00 – 20.22
\nSpot Rate : 0.2200
\nAverage : 0.1637<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 20.00
\nEvaluated at bid price : 20.00
\nBid-YTW : 5.66 %<\/td>\n<\/tr>\n

BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.76 – 21.07
\nSpot Rate : 0.3100
\nAverage : 0.2570<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 20.76
\nEvaluated at bid price : 20.76
\nBid-YTW : 5.78 %<\/td>\n<\/tr>\n

CU.PR.F<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.22 – 21.63
\nSpot Rate : 0.4100
\nAverage : 0.3655<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2049-04-22
\nMaturity Price : 21.22
\nEvaluated at bid price : 21.22
\nBid-YTW : 5.39 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

FAIR Canada, that superannuation scheme for tired old regulatory hacks, is in some well-deserved trouble: The primary advocacy group for Canadian investors is losing money, looking for an executive director \u2013 and struggling to survive.…FAIR …<\/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-50149","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50149","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=50149"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50149\/revisions"}],"predecessor-version":[{"id":50151,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/50149\/revisions\/50151"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}