Overview
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Asset ClassFixed Income
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CIFSC CategoryCanadian Short-Term Fixed Income
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Risk RatingLow
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Number of Securities70
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Yield to Maturity4.9%
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Current Yield3.1%
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Average Duration7.2 Years
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Average Credit QualityA+
Objectives
The Fund’s objective is to provide above average, long-term total returns consisting principally of interest income by investing primarily in high-quality Canadian dollar denominated fixed income securities of Canadian and foreign issuers.
Investment Focus
The Fund invests in high-quality Canadian dollar denominated fixed income securities of Canadian issuers and up to 60% in foreign issuers. Portfolio is unable to purchase fixed income securities rated below BBB-.
Fund Facts
December 31, 2022Inception Date | December 28, 2011 |
Currency | CAD |
Fund AUM | $117.0 Million |
NAVPU | $10.51 |
Management Fee | 1.15% |
MER as of June 30, 2022 (unaudited) | 1.39% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RRSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 70 |
Number of Issuers | 44 |
Average Term to Maturity (Years) | 9.6 |
Average Duration (Years) | 7.2 |
Average Coupon (%) | 2.9% |
Yield to Maturity (%) | 4.9% |
Current Yield (%) | 3.1% |
Average Credit Quality | A+ |
Credit Quality Breakdown
AA & Higher | 39.3% |
A | 32.3% |
BBB | 28.4% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
Canada RRB 0.5% Dec 1, 2050 | 13.1% | AAA |
Nestle Holdings Inc. 2.192% Jan 26, 2029 | 5.2% | AA- |
MetLife Global Funding l 1.95% Mar 20, 2028 | 4.3% | AA- |
Canada 1.75% Dec 1, 2053 | 4.2% | AAA |
Morgan Stanley FRN Mar 21, 2025 (Q CDOR +33) | 4.2% | A+ |
Honda Canada Finance Inc 1.646% Feb 25, 2028 | 3.7% | A- |
Enbridge Inc. 6.51% Nov 9, 2052 | 3.6% | BBB+ |
First National NHA MBS (97511981) 2.39% Jul 1, 2023 | 3.4% | AAA |
First National NHA MBS (97512973) 2.69% Nov 1, 2023 | 3.1% | AAA |
TransCanada Pipelines FRN Jun 9, 2024 (Q CDOR+29) | 3.0% | BBB+ |
Total | 47.8% |
Geographic Breakdown
Canada | 63.7% |
USA | 24.2% |
Europe | 12.0% |
Performance
Inception Date
December 28, 2011
As of Date
December 31, 2022
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
10 Year (Annualized) |
Since Inception (Annualized) |
0.9% | 1.7% | -2.7% | -2.7% | 1.7% | 1.6% | 1.6% | 1.9% |
Calendar Year Returns
Awards

Refinitiv Lipper Fund Awards
The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.
Best Canadian Short Term Fixed Income Fund Over Five Years
Best Canadian Short Term Fixed Income Fund Over Ten Years
Distributions
Distributions
Distribution Frequency | Quarterly |
Most Recent Distribution per Unit | $0.0275 |
12-Month Trailing Distribution Yield | 0.9% |
Next Record Date | March 30, 2023 |
Next Distribution Date | March 31, 2023 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 24, 2022 | March 25, 2022 |
June 23, 2022 | June 24, 2022 |
September 29, 2022 | September 30, 2022 |
December 15, 2022 | December 16, 2022 |
Distributions ($)/Unit3 | YTD* | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|---|---|---|---|
Total Distributions | 0.0936 | 0.1749 | 0.2415 | 0.1657 | 0.1372 | 0.0862 | 0.0748 | 0.2416 | 0.2087 | 0.1153 | 0.1374 |
Interest | - | 0.0700 | 0.2415 | 0.1657 | 0.1372 | 0.0869 | 0.0754 | 0.1586 | 0.2097 | 0.1153 | 0.1325 |
Dividends | - | - | - | - | - | - | - | - | - | - | - |
Capital Gains | - | 0.1049 | - | - | - | - | - | 0.0838 | - | - | 0.0049 |
Withholding Tax | - | - | - | - | - | (0.0007) | (0.0006) | (0.0008) | (0.0010) | - | - |