Performance of the HIMIPref™ Indices for August, 2008, was:
| Total Return | ||
| Index | Performance August 2008 |
Three Months to August 29, 2008 |
| Ratchet | N/A | N/A |
| FixFloat | +2.14% | +7.76% |
| Floater | +2.94% | -2.24% |
| OpRet | +1.44% | -0.17% |
| SplitShare | +0.86% | -1.41% |
| Interest | +0.81% | +1.55% |
| PerpetualPremium | +1.30% | -1.78% |
| PerpetualDiscount | +3.91% | -4.90% |
| Funds (see below for calculations) | ||
| CPD | +2.48% | -4.09% |
| DPS.UN | +2.63% | -4.12% |
| Index | ||
| BMO-CM 50 | +2.88% | -2.72% |
Claymore has published NAV data for its exchange traded fund (CPD) and I have derived the following table:
| CPD Return, 1- & 3-month, to August, 2008 | ||||
| Date | NAV | Distribution | Return for Sub-Period | Monthly Return |
| May 30 | 17.85 | 0.00 | ||
| June 25 | 17.01 | 0.2097 | -3.53% | -4.26% |
| June 30, 2008 | 16.88 | -0.76% | ||
| July 31, 2008 | 16.50 | 0.00 | -2.25% | |
| August 29 | 16.91 | 0.00 | +2.48% | |
| Quarterly Return | -4.09% | |||
The DPS.UN NAV for August 27 has been published so we may calculate the July returns (approximately!) for this closed end fund:
| DPS.UN NAV Return, August-ish 2008 | |||
| Date | NAV | Distribution | Return for period |
| Estimated July Stub | -0.30% | ||
| July 30 | $19.48 | ||
| August 27 | $20.03 | +2.82% | |
| Estimated August Stub | +0.12% | ||
| Estimated August Return | +2.63% | ||
| CPD had a NAV of $16.45 on July 30 and $16.50 on July 31. The estimated July end-of-month stub period return for CPD was therefore +0.30%, which is subtracted from the DPS.UN period return. | |||
| CPD had a NAV of $16.89 on August 27 and $16.91 on August 29. The estimated August end-of-month stub period return for CPD was therefore +0.12%, which is added to the DPS.UN period return. | |||
Now, to see the DPS.UN quarterly NAV approximate return, we refer to the calculations for June and July
| DPS.UN NAV Returns, three-month-ish to end-August-ish, 2008 | |
| June-ish | -3.53% |
| July-ish | -3.16% |
| August-ish | +2.63% |
| Three-months-ish | -4.12% |
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