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 “January 31”) |
| BCE.PR.B | Ratchet | Pfd-2(low) | -7.11% | This issue is most notable for the horrible market making lately, noted on February 4, January 31, January 22, January 17 and January 7. Naturally, one of the days that Little Boy Blue visits the haystack has to be month-end and it closed at 22.77-24.24. A rational quote would have kept it off this list. |
| HSB.PR.C | PerpetualDiscount | Pfd-1 | -3.86% | Now with a pre-tax bid-YTW of 5.69% based on a bid of 22.65 and a limitMaturity. |
| BMO.PR.K | PerpetualDiscount | Pfd-1 | -3.67% | Now with a pre-tax bid-YTW of 5.64% based on a bid of 23.90 and a limitMaturity. |
| MFC.PR.C | PerpetualDiscount | Pfd-1(low) | -3.20% | Now with a pre-tax bid-YTW of 5.32% based on a bid of 21.45 and a limitMaturity. |
| HSB.PR.D | PerpetualDiscount | Pfd-1 | -3.06% | Now with a pre-tax bid-YTW of 5.53% based on a bid of 22.84 and a limitMaturity. |
| … | … | … | … | … |
| W.PR.H | PerpetualDiscount | Pfd-2(low) | +4.73% | Now with a pre-tax bid-YTW of 5.81% based on a bid of 23.68 and a limitMaturity. |
| W.PR.J | PerpetualDiscount | Pfd-2(low) | +4.78% | Now with a pre-tax bid-YTW of 5.90% based on a bid of 23.90 and a limitMaturity. |
| BAM.PR.K | Floater | Pfd-2(low) | +5.30% | A dead cat bounce from the horrible performance in December. |
| FTU.PR.A | SplitShare | Pfd-2 | +5.68% | Asset coverage of just under 1.8:1 as of January 31, according to the company. The US financials on which this is based managed to bounce back in the latter half of January, but another good sharp downdraft could make my speculation regarding a downgrade look prescient. Now with a pre-tax bid-YTW of 5.98% based on a bid of 9.71 and a hardMaturity 2012-12-1 at 10.00. |
| BAM.PR.B | Floater | Pfd-2(low) | +6.11% | Another dead cat bounce from December. |
It’s worth noting that HSB.PR.D was actually only the 27th-worst issue in the HIMIPref™ Universe, but only those issues included in the HIMIPref™ indices are examined for possible inclusion in this table. A lot of lower-volume and worse-credit issues were passed over.
[…] Easy come, easy go! Performed well in January. Asset coverage of just under 1.6:1 as of February 15 according to the company. Now with a pre-tax bid-YTW of 6.42% based on a bid of 9.54 and a hardMaturity 2012-12-1 at 10.00. […]
[…] without a particularly large float, these issues can be somewhat volatile – they both made the January 08 Best Performers’ List, while W.PR.H made December 07’s Worst. W.PR.H was transfered to the PerpetualDiscount index […]