Best & Worst Performers: April 2009

These are total returns, with dividends presumed to have been reinvested at the bid price on the ex-date. The list has been restricted to issues in the HIMIPref™ indices.

April 2009
Issue Index DBRS Rating Monthly Performance Notes (“Now” means “April 30”)
ACO.PR.A OpRet Pfd-2(low) -1.87% Now with a pre-tax bid-YTW of 2.58% based on a bid of 26.25 and a call 2009-12-31 at 25.50.
GWO.PR.X OpRet Pfd-1(low) +0.40% Now with a pre-tax bid-YTW of 4.77% based on a bid of 25.15 and a softMaturity 2013-9-29 at 25.00.
MFC.PR.A OpRet Pfd-1(low) +0.73% Now with a pre-tax bid-YTW of 4.29% based on a bid of 24.87 and a softMaturity 2015-12-18 at 25.00.
CM.PR.A OpRet Pfd-1 +0.98% Now with a pre-tax bid-YTW of -9.75% based on a bid of 25.82 and a call 2009-5-30 at 25.00.
TCA.PR.Y PerpetualDiscount Pfd-2(low) +1.06% Now with a pre-tax bid-YTW of 5.99% based on a bid of 46.72 and a limitMaturity.
MFC.PR.C PerpetualDiscount Pfd-1(low) +15.59% The second-worst performer in March. Now with a pre-tax bid-YTW of 6.59% based on a bid of 17.35 and a limitMaturity.
ELF.PR.G PerpetualDiscount Pfd-2(low) +16.23% Now with a pre-tax bid-YTW of 7.81% based on a bid of 15.40 and a limitMaturity.
PWF.PR.L PerpetualDiscount Pfd-1(low) +16.60% Now with a pre-tax bid-YTW of 6.84% based on a bid of 18.80 and a limitMaturity.
IAG.PR.A PerpetualDiscount Pfd-2(high) +18.00% Was the worst performer in March – this issue is notoriously volatile. Now with a pre-tax bid-YTW of 6.90% based on a bid of 16.91 and a limitMaturity.
BNA.PR.C SplitShare Pfd-2(low) +21.60% Now with a pre-tax bid-YTW of 13.01% based on a bid of 13.51 and a hardMaturity 2019-1-10 at 25.00

3 Responses to “Best & Worst Performers: April 2009”

  1. GAndreone says:

    As the official guardian of the pref share patrimony what is your opinion on the recent redemption of sub-debt by both RBC and CIBC. RBC redeemed $1.0G @ 4.18% and CIBC redeem $0.75G @ 4.25%. In the case of RBC just this year alone they issued Net $1.576G of prefs @ 6.22%
    These actions are not clear to me but they certainly maybe clear to you!

  2. […] an unrelated thread, Assiduous Reader GAndreone asked: As the official guardian of the pref share patrimony what is your opinion on the recent redemption […]

  3. […] the second-best performer in April. This issue is notoriously volatile. Now with a pre-tax bid-YTW of 7.19% based on a bid of 16.02 […]

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