Overview
-
Asset ClassFixed Income
-
CIFSC CategoryGlobal Corporate Fixed Income
-
Risk RatingLow
-
Number of Securities124
-
Yield to Maturity6.2%
-
Current Yield4.1%
-
Average Duration5.2 Years
-
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
October 31, 2023Inception Date | December 30, 2016 |
Currency | CAD |
Fund AUM | $343.3 Million |
NAVPU | $10.11 |
Management Fee | 1.20% |
MER as of June 30, 2023 (unaudited) | 1.45% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RRSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 124 |
Number of Issuers | 68 |
Average Term to Maturity (Years) | 7.7 |
Average Duration (Years) | 5.2 |
Average Coupon (%) | 3.8% |
Yield to Maturity (%) | 6.2% |
Current Yield (%) | 4.1% |
Average Credit Quality2 | A |
Credit Quality Breakdown
AA & Higher | 40.0% |
A | 23.7% |
BBB | 24.6% |
BB & Lower | 11.1% |
Not Rated | 0.6% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
Canada 0.5% Dec 01, 2030 | 8.8% | AAA |
Canada RRB 4.25% Dec 1, 2026 | 8.1% | AAA |
Nestle Holdings Inc. 2.192% Jan 26, 2029 | 5.9% | AA- |
Canada 0.25% Mar 01, 2026 | 5.0% | AAA |
TD Bank 4.477% Jan 18, 2028 | 4.5% | A+ |
Air Canada 4.625% Aug 15, 2029 | 3.4% | BB |
Enbridge Inc. 6.51% Nov 9, 2052 | 3.2% | BBB+ |
Cogeco Cable Inc. 2.991% Sept 22, 2031 | 2.4% | BBB- |
Lloyds Banking Group PLC 3.5% Feb 3, 2025 | 2.1% | A- |
Pacific Life Global Funding II FRN Feb 1, 2027 (Q CDOR+38) | 2.0% | AA- |
Total | 45.4% |
Geographic Breakdown
Canada | 76.2% |
USA | 12.6% |
South America | 0.7% |
Europe | 10.6% |
Performance
Inception Date
December 30, 2016
As of Date
October 31, 2023
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
Since Inception (Annualized) |
-0.1% | -2.1% | -2.0% | -0.5% | -0.4% | 2.9% | 2.2% |
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 | $0.0692 |
12-Month Trailing Distribution Yield | 2.1% |
Next Record Date | December 14, 2023 |
Next Distribution Date | December 15, 2023 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 30, 2023 | March 31, 2023 |
June 29, 2023 | June 30, 2023 |
September 28, 2023 | September 29, 2023 |
December 14, 2023 | December 15, 2023 |
Distributions ($)/Unit3 | YTD* | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
---|---|---|---|---|---|---|---|
Total Distributions | 0.2146 | 0.0852 | 0.3865 | 0.4888 | 0.0531 | 0.1040 | 0.1296 |
Interest | - | 0.0850 | 0.1450 | 0.2401 | 0.0531 | 0.1040 | 0.0943 |
Dividends | - | 0.0002 | 0.0002 | 0.0001 | - | - | - |
Capital Gains | - | - | 0.2413 | 0.2486 | - | - | 0.0355 |
Withholding Tax | - | - | - | - | - | - | (0.0002) |