Best & Worst Performing Issues : November, 2007

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.

Issue Index DBRS Rating Monthly Performance Notes (“Now” means “November 30”)
ELF.PR.G PerpetualDiscount Pfd-2(low) -14.21% Now with a pre-tax bid-YTW of 7.16% based on a bid of 16.90 and a limitMaturity.
 
ELF.PR.F PerpetualDiscount Pfd-2(low) -11.20% Now with a pre-tax bid-YTW of 7.00% based on a bid of 19.27 and a limitMaturity.
BAM.PR.B Floater Pfd-2(low) -10.60%  
BAM.PR.K Floater Pfd-2(low) -9.68%  
BNA.PR.B SplitShare Pfd-2(low) -9.59% Asset coverage of just under 4.0:1 as of October 31, according to the company. Now with a pre-tax bid-YTW of 6.90% based on a bid of 22.00 and a hardMaturity 2016-3-25 at 25.00.
GWO.PR.E OpRet Pfd-1(low) +3.07% Now with a pre-tax bid-YTW of 3.74% based on a bid of 25.68 and a call 2011-4-30 at 25.00.
ENB.PR.A PerpetualDiscount Pfd-2(low) +3.47% Now with a pre-tax bid-YTW of 5.55% based on a bid of 24.86 and a limitMaturity.
PWF.PR.K PerpetualDiscount Pfd-1(low)  +3,83% Now with a pre-tax bid-YTW of 5.62% based on a bid of 22.25 and a limitMaturity.
CL.PR.B PerpetualPremium Pfd-1(low) +3.88% Now with a pre-tax bid-YTW of 1.82% based on a bid of 25.80 and a call 2008-1-30 at 25.75.
BSD.PR.A InterestBearing Pfd-2 +5.94% Asset coverage of 1.6+:1 as of November 30, according to Brookfield Funds. Now with a pre-tax bid-YTW of 6.21% (mostly as interest) based on a bid of 9.88 and a hardMaturity 2015-3-31 at 10.00.

The variance of returns was even more bizarre this month than it was in October! The underperformance of the E-L Financial issues, ELF.PR.F & ELF.PR.G is very surprising.

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