Index Performance: June 2008

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

Total Return
Index Performance
June 2008
Three Months
to
June 30, 2008
Ratchet +0.38% +2.68%
FixFloat -0.41% -1.02%
Floater -3.09% +6.39%
OpRet -0.32% +0.53%
SplitShare -2.02% +1.31%
Interest +0.91% +2.72%
PerpetualPremium -1.38% -0.57%
PerpetualDiscount -5.31% -3.90%
Funds (see below for calculations)
CPD -4.26% -2.90%
DPS.UN -3.53% -2.20%
Index
BMO-CM 50 -3.43% -2.09%

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

CPD Return, 1- & 3-month, to June, 2008
Date NAV Distribution Return for Sub-Period Monthly Return
March 31, 2008 17.60      
April 30 17.60     0.00%
May 30 17.85 0.00   +1.42%
June 25 17.01 0.2097 -3.53% -4.26%
June 30, 2008 16.88   -0.76%
Quarterly Return -2.90%

The DPS.UN NAV for June 25 has been published so we may calculate the June returns (approximately!) for this closed end fund:

DPS.UN NAV Return, June-ish 2008
Date NAV Distribution Return for period
May 28 $20.89   +0.87%
May 30 N/A   +0.11%
June 25 $20.33   -2.79%
June 30 N/A   -0.76%
Estimated June Return -3.53%
CPD had a NAV of $17.83 on May 28 and $17.85 on May 30. The estimated May end-of-month stub period return for CPD was therefore +0.11%, which is applied to DPS.UN as described above.
CPD had a NAV of $17.01 on June 25 and $16.88 on June 30. The estimated June end-of-month stub period return for CPD was therefore -0.76%, which is applied to DPS.UN as described above.

Now, to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for April and May:

DPS.UN NAV Returns, three-month-ish to end-June-ish, 2008
April-ish +0.39%
May-ish +0.98%
June-ish -3.53%
Three-months-ish -2.20%

3 Responses to “Index Performance: June 2008”

  1. […] Now, to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for May and June […]

  2. […] Fortunately for oenophiles, there is an excuse for some bubbly. PerpetualDiscounts were up 21bp today, bringing the total return index back to slightly above its June 30 levels … OK now it’s time to start working on June (a really, really lousy month). […]

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

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