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 Securities233
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Yield to Maturity4.6%
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Current Yield3.9%
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Average Duration3.6 Years
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Average Credit Quality2A+
Objectives
The Fund’s objective is to provide above average, long-term total returns consisting of interest income and some capital gains by investing primarily in fixed income securities.
Investment Focus
The fund employs a deep value investment strategy with an unrestricted mandate both geographically and by credit quality. It invests primarily in fixed income securities, but can occasionally invest in equities.
Fund Facts
January 31, 2025Inception Date | December 23, 2011 |
Currency | CAD |
Fund AUM | $18.1 Billion |
NAVPU | $14.39 |
Management Fee | 0.75% |
MER as of June 30, 2024 (unaudited) | 0.91% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 233 |
Number of Issuers | 135 |
Average Term to Maturity (Years) | 4.7 |
Average Duration (Years) | 3.6 |
Average Coupon (%) | 3.8% |
Yield to Maturity (%) | 4.6% |
Current Yield (%) | 3.9% |
Average Credit Quality2 | A+ |
Credit Quality Breakdown
AA & Higher | 56.1% |
A | 15.0% |
BBB | 9.8% |
BB & Lower | 18.2% |
Not Rated | 0.9% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
Canada 1.5% Dec 1, 2031 | 13.2% | AAA |
Canada 0.5% Dec 1, 2030 | 11.2% | AAA |
Air Canada 4.625% Aug 15, 2029 | 3.3% | BB+ |
Canada 1.5% Jun 1, 2031 | 3.0% | AAA |
Hertz 12.625% Jul 15, 2029 144A (USD) | 2.6% | B+ |
RBC CB 4.256% Dec 21, 2026 | 2.3% | AAA |
TD Bank 4.477% Jan 18, 2028 | 2.2% | A |
Scotia Capital Inc. NHA MBS (97528147) 3.7% Mar 1, 2029 | 2.1% | AAA |
BNS Sr. Unsecured 3.807% Nov 15, 2027/28 | 1.9% | A |
MetLife Global Funding l 4.642% Apr 1, 2027 | 1.9% | AA- |
Total | 43.7% |
Geographic Breakdown
Canada | 78.7% |
USA | 17.9% |
South America | 1.2% |
Europe | 2.2% |
Performance
Inception Date
December 23, 2011
As of Date
January 31, 2025
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
10 Year (Annualized) |
Since Inception (Annualized) |
0.9% | 2.1% | 0.9% | 7.9% | 3.6% | 8.4% | 5.8% | 6.7% |
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 | $0.1024 |
12-Month Trailing Distribution Yield | 3.3% |
Next Record Date | March 20, 2025 |
Next Distribution Date | March 21, 2025 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 20, 2025 | March 21, 2025 |
June 19, 2025 | June 20, 2025 |
September 18, 2025 | September 19, 2025 |
December 18, 2025 | December 19, 2025 |
Distributions ($)/Unit3 | YTD* | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|---|---|---|---|
Total Distributions | 0.0000 | 0.4810 | 0.6447 | 0.5572 | 1.1593 | 0.9963 | 0.3037 | 0.2335 | 0.6161 | 0.4666 | 0.4566 |
Interest | - | 0.4650 | 0.5011 | 0.3706 | 0.3854 | 0.4312 | 0.2972 | 0.2177 | 0.2745 | 0.4559 | 0.4178 |
Dividends | - | 0.0159 | 0.0202 | 0.0328 | 0.0536 | 0.0442 | 0.0065 | 0.0024 | 0.0018 | 0.0038 | 0.0017 |
Capital Gains | - | 0.0000 | 0.1236 | 0.1542 | 0.7209 | 0.5220 | - | 0.0136 | 0.3411 | 0.0082 | 0.0383 |
Withholding Tax | - | 0.0000 | (0.0003) | (0.0003) | (0.0005) | (0.0011) | - | (0.0002) | (0.0013) | (0.0013) | (0.0012) |