Index Performance: August 2008

Performance of the HIMIPref™ Indices for August, 2008, was:

Total Return
Index Performance
August 2008
Three Months
to
August 29, 2008
Ratchet N/A N/A
FixFloat +2.14% +7.76%
Floater +2.94% -2.24%
OpRet +1.44% -0.17%
SplitShare +0.86% -1.41%
Interest +0.81% +1.55%
PerpetualPremium +1.30% -1.78%
PerpetualDiscount +3.91% -4.90%
Funds (see below for calculations)
CPD +2.48% -4.09%
DPS.UN +2.63% -4.12%
Index
BMO-CM 50 +2.88% -2.72%

Claymore has published NAV data for its exchange traded fund (CPD) and I have derived the following table:

CPD Return, 1- & 3-month, to August, 2008
Date NAV Distribution Return for Sub-Period Monthly Return
May 30 17.85 0.00    
June 25 17.01 0.2097 -3.53% -4.26%
June 30, 2008 16.88   -0.76%
July 31, 2008 16.50 0.00   -2.25%
August 29 16.91 0.00   +2.48%
Quarterly Return -4.09%

The DPS.UN NAV for August 27 has been published so we may calculate the July returns (approximately!) for this closed end fund:

DPS.UN NAV Return, August-ish 2008
Date NAV Distribution Return for period
Estimated July Stub -0.30%
July 30 $19.48    
August 27 $20.03   +2.82%
Estimated August Stub +0.12%
Estimated August Return +2.63%
CPD had a NAV of $16.45 on July 30 and $16.50 on July 31. The estimated July end-of-month stub period return for CPD was therefore +0.30%, which is subtracted from the DPS.UN period return.
CPD had a NAV of $16.89 on August 27 and $16.91 on August 29. The estimated August end-of-month stub period return for CPD was therefore +0.12%, which is added to the DPS.UN period return.

Now, to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for June and July

DPS.UN NAV Returns, three-month-ish to end-August-ish, 2008
June-ish -3.53%
July-ish -3.16%
August-ish +2.63%
Three-months-ish -4.12%

4 Responses to “Index Performance: August 2008”

  1. […] market continued its post-July-16 recovery in August, with the PerpetualDiscount index up 3.91% for the month, with only four of the twenty trading days showing a negative total […]

  2. […] Now, to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for July and August: […]

  3. […] market continued its post-July-16 recovery in August, with the PerpetualDiscount index up 3.91% for the month, with only four of the twenty trading days showing a negative total […]

  4. […] to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for August and […]

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