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 Securities112
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Yield to Maturity5.0%
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Current Yield4.3%
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Average Duration5.8 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
October 31, 2024Inception Date | December 30, 2016 |
Currency | CAD |
Fund AUM | $330.6 Million |
NAVPU | $10.74 |
Management Fee | 0.70% |
MER as of June 30, 2024 (unaudited) | 0.86% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 112 |
Number of Issuers | 65 |
Average Term to Maturity (Years) | 8.9 |
Average Duration (Years) | 5.8 |
Average Coupon (%) | 4.2% |
Yield to Maturity (%) | 5.0% |
Current Yield (%) | 4.3% |
Average Credit Quality2 | A |
Credit Quality Breakdown
AA & Higher | 37.1% |
A | 25.5% |
BBB | 25.9% |
BB & Lower | 10.9% |
Not Rated | 0.6% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
Nestle Holdings Inc. 2.192% Jan 26, 2029 | 6.2% | AA- |
Canada RRB 4.25% Dec 1, 2026 | 5.8% | AAA |
TD Bank 4.477% Jan 18, 2028 | 5.0% | A |
Air Canada 4.625% Aug 15, 2029 | 3.9% | BB+ |
Enbridge Inc. 6.51% Nov 9, 2052 | 3.9% | BBB+ |
Canada 3.25% Dec 1, 2033 | 3.6% | AAA |
Canada RRB 0.25% Dec 1, 2054 | 2.9% | AAA |
Cogeco Cable Inc. 2.991% Sept 22, 2031 | 2.9% | BBB- |
BNS CB 4.246% Mar 20, 2034 | 2.8% | AAA |
Lloyds Banking Group PLC 3.5% Feb 3, 2025 | 2.3% | A- |
Total | 39.3% |
Geographic Breakdown
Canada | 78.5% |
USA | 10.7% |
South America | 0.5% |
Europe | 10.3% |
Performance
Inception Date
December 30, 2016
As of Date
October 31, 2024
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
Since Inception (Annualized) |
0.0% | 1.9% | 4.9% | 11.9% | 2.0% | 4.2% | 3.9% |
Calendar Year Returns
Distributions
Distributions
Distribution Frequency | Quarterly |
Most Recent Distribution per Unit | $0.0972 |
12-Month Trailing Distribution Yield | 3.6% |
Next Record Date | December 19, 2024 |
Next Distribution Date | December 20, 2024 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 21, 2024 | March 22, 2024 |
June 20, 2024 | June 21, 2024 |
September 19, 2024 | September 20, 2024 |
December 19, 2024 | December 20, 2024 |
Distributions ($)/Unit3 | YTD* | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
---|---|---|---|---|---|---|---|---|
Total Distributions | 0.2838 | 0.3468 | 0.1737 | 0.4464 | 0.4795 | 0.2859 | 0.2153 | 0.1481 |
Interest | - | 0.3466 | 0.1732 | 0.1675 | 0.2355 | 0.2859 | 0.2153 | 0.1077 |
Dividends | - | 0.0002 | 0.0005 | 0.0003 | 0.0001 | - | - | - |
Capital Gains | - | - | - | 0.2787 | 0.2439 | - | - | 0.0406 |
Withholding Tax | - | - | - | - | - | - | - | (0.0002) |