Overview
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Asset ClassFixed Income
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CIFSC CategoryGlobal Corporate Fixed Income
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Risk RatingLow
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Number of Securities127
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Yield to Maturity5.1%
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Current Yield3.2%
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Average Duration5.7 Years
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Average Credit QualityA+
Objectives
The Fund’s objective is to earn income and some capital gains by investing primarily in fixed income securities anywhere in the world.
Investment Focus
The Fund invests primarily in fixed income securities with a minimum of 75% of the portfolio in bonds rated BBB- or higher. It is unconstrained from geographic considerations.
Fund Facts
December 31, 2022Inception Date | December 30, 2016 |
Currency | CAD |
Fund AUM | $396.7 Million |
NAVPU | $10.53 |
Management Fee | 1.20% |
MER as of June 30, 2022 (unaudited) | 1.43% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RRSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 127 |
Number of Issuers | 69 |
Average Term to Maturity (Years) | 7.7 |
Average Duration (Years) | 5.7 |
Average Coupon (%) | 2.9% |
Yield to Maturity (%) | 5.1% |
Current Yield (%) | 3.2% |
Average Credit Quality | A+ |
Credit Quality Breakdown
AA & Higher | 52.5% |
A | 19.7% |
BBB | 17.1% |
BB & Lower | 10.1% |
Not Rated | 0.6% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
Canada 0.5% Dec 01, 2030 | 19.3% | AAA |
Canada 2.25% Jun 1, 2029 | 7.9% | AAA |
Nestle Holdings Inc. 2.192% Jan 26, 2029 | 5.1% | AA- |
First National NHA MBS (97511981) 2.39% Jul 1, 2023 | 3.9% | AAA |
Canada 1.75% Dec 1, 2053 | 3.4% | AAA |
Enbridge Inc. 6.51% Nov 9, 2052 | 2.9% | BBB+ |
Air Canada 4.625% Aug 15, 2029 | 2.6% | BB |
Cogeco Cable Inc. 2.991% Sept 22, 2031 | 2.2% | BBB- |
BNS FRN Aug 4, 2026 (CORRA+54) | 2.2% | A |
TLT US 03/17/23 P95 | 2.1% | N/A |
Total | 51.6% |
Geographic Breakdown
Canada | 74.1% |
USA | 16.6% |
Europe | 8.8% |
Other | 0.5% |
Performance
Inception Date
December 30, 2016
As of Date
December 31, 2022
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
Since Inception (Annualized) |
0.1% | 1.4% | -4.1% | -4.1% | 2.9% | 3.2% | 2.8% |
Calendar Year Returns
Awards

FundGrade A+ Awards
The FundGrade A+® Award is given annually to investment funds and their managers who have shown consistent, outstanding, risk-adjusted performance through the year.
Global Corporate Fixed Income
Distributions
Distributions
Distribution Frequency | Quarterly |
Most Recent Distribution per Unit | $0.0000 |
12-Month Trailing Distribution Yield | 0.8% |
Next Record Date | March 30, 2023 |
Next Distribution Date | March 31, 2023 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 24, 2022 | March 25, 2022 |
June 23, 2022 | June 24, 2022 |
September 29, 2022 | September 30, 2022 |
December 15, 2022 | December 16, 2022 |
Distributions ($)/Unit3 | YTD* | 2021 | 2020 | 2019 | 2018 | 2017 |
---|---|---|---|---|---|---|
Total Distributions | 0.0852 | 0.3865 | 0.4888 | 0.0531 | 0.1040 | 0.1296 |
Interest | - | 0.1450 | 0.2401 | 0.0531 | 0.1040 | 0.0943 |
Dividends | - | 0.0002 | 0.0001 | - | - | - |
Capital Gains | - | 0.2413 | 0.2486 | - | - | 0.0355 |
Withholding Tax | - | - | - | - | - | (0.0002) |