Best and Worst Performers: May, 2008

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 “May 30”)
BCE.PR.Z FixFloat Pfd-2(low)
[Under Review – Negative]
-4.10%  
BCE.PR.R FixFloat Pfd-2(low)
[Under Review – Negative]
-3.88%  
CIU.PR.A PerpetualDiscount Pfd-2(high) -3.74% Now with a pre-tax bid-YTW of 5.80% based on a bid of 19.95 and a limitMaturity.
BCE.PR.I FixFloat Pfd-2(low)
[Under Review – Negative]
-3.73%  
BCE.PR.C FixFloat Pfd-2(low)
[Under Review – Negative]
-2.95%  
GWO.PR.I PerpetualDiscount Pfd-1(low) +4.78% Now with a pre-tax bid-YTW of 5.35% based on a bid of 21.03 and a limitMaturity.
SLF.PR.C PerpetualDiscount Pfd-1(low) +5.15% Now with a pre-tax bid-YTW of 5.43% based on a bid of 20.50 and a limitMaturity.
BNA.PR.B SplitShare Pfd-2(low) +7.68% Asset coverage of just under 3.2:1 as of April 30 according to the company. Now with a pre-tax bid-YTW of 6.94% based on a bid of 22.08 and a hardMaturity 2016-3-25 at 25.00. Compare with BNA.PR.C (6.58% to 2019-1-10; returned +1.87% on month) and BNA.PR.A (5.97% TO 2010-9-30; returned +1.31% on month).
BAM.PR.K Floater Pfd-2(low) +9.14%  
BAM.PR.B Floater Pfd-2(low) +11.98%  

BCE issues did very poorly on the month, presumably on fears that the Teachers’ deal will not proceed as contemplated.

The two BAM floaters did extremely well – probably a combination of their having been oversold in the first place and a widening consensus that perhaps Canada Prime is not on a one-way march to zero.

One Response to “Best and Worst Performers: May, 2008”

  1. […] with a pre-tax bid-YTW of 6.02% based on a bid of 18.82 and a limitMaturity. This was a top performer in May, so at least part of this drop is simply […]

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