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 Securities76
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Yield to Maturity5.1%
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Current Yield3.3%
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Average Duration6.8 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
February 28, 2023Inception Date | December 28, 2011 |
Currency | CAD |
Fund AUM | $97.1 Million |
NAVPU | $10.15 |
Management Fee | 0.65% |
MER as of June 30, 2022 (unaudited) | 0.83% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RRSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 76 |
Number of Issuers | 43 |
Average Term to Maturity (Years) | 9.0 |
Average Duration (Years) | 6.8 |
Average Coupon (%) | 3.1% |
Yield to Maturity (%) | 5.1% |
Current Yield (%) | 3.3% |
Average Credit Quality | A |
Credit Quality Breakdown
AA & Higher | 34.7% |
A | 33.7% |
BBB | 31.5% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
Canada RRB 0.5% Dec 1, 2050 | 12.5% | AAA |
Nestle Holdings Inc. 2.192% Jan 26, 2029 | 6.2% | AA- |
MetLife Global Funding l 1.95% Mar 20, 2028 | 5.2% | AA- |
Enbridge Inc. 6.51% Nov 9, 2052 | 4.5% | BBB+ |
Honda Canada Finance Inc 1.646% Feb 25, 2028 | 4.4% | A- |
First National NHA MBS (97511981) 2.39% Jul 1, 2023 | 4.1% | AAA |
First National NHA MBS (97512973) 2.69% Nov 1, 2023 | 3.7% | AAA |
TransCanada Pipelines FRN Jun 9, 2024 (Q CDOR+29) | 3.6% | BBB+ |
TD Bank 4.477% Jan 18, 2028 | 3.6% | A+ |
Natwest Group PLC FRN Jun 25, 2024 (Q LIBOR+155)(USD) | 3.2% | A- |
Total | 51.0% |
Geographic Breakdown
Canada | 69.9% |
USA | 15.5% |
Europe | 14.6% |
Performance
Inception Date
December 28, 2011
As of Date
February 28, 2023
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
10 Year (Annualized) |
Since Inception (Annualized) |
-1.3% | -0.8% | -1.8% | -2.8% | 1.2% | 1.8% | 2.0% | 2.3% |
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 | $0.0630 |
12-Month Trailing Distribution Yield | 1.7% |
Next Record Date | March 30, 2023 |
Next Distribution Date | March 31, 2023 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 30, 2023 | March 31, 2023 |
June 29, 2023 | June 30, 2023 |
September 28, 2023 | September 29, 2023 |
December 14, 2023 | December 15, 2023 |
Distributions ($)/Unit3 | YTD* | 2022* | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Distributions | 0.0000 | 0.1718 | 0.2384 | 0.2391 | 0.2339 | 0.2233 | 0.1914 | 0.1707 | 0.2885 | 0.2723 | 0.2120 | 0.2231 |
Interest | - | - | 0.0954 | 0.2391 | 0.2339 | 0.2233 | 0.1930 | 0.1721 | 0.1895 | 0.2736 | 0.2120 | 0.2201 |
Dividends | - | - | - | - | - | - | - | - | - | - | - | - |
Capital Gains | - | - | 0.1430 | - | - | - | - | - | 0.1000 | - | - | 0.0030 |
Withholding Tax | - | - | - | - | - | - | (0.0016) | (0.0014) | (0.0010) | (0.0013) | - | - |