Taking the view that the securities lending business is no longer simply a custodial fee reducer, YCS produced the YCS Canadian Fixed Income Securities Lending Index- a measure which illustrates the added value and appropriate return on assets a fixed income portfolio manager should expect from securities lending.
The index comprises of approximately 650 outstanding Canadian Federal, Provincial, Municipal and Corporate fixed income issues, with maturity dates greater than one year and floats in excess of $50 million.
The index displays a lending basis point return, a gross percentage, prior to any revenue share arrangements or associated costs, on the components.
The securities database for the index, which is published on a monthly basis, was created and is maintained by FRI Corporation. Historical costs are also available.