Overview
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Asset ClassFixed Income
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CategoryGlobal Fixed Income
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Risk RatingLow
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Number of Securities12
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Yield to Maturity (%)1.9%
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Current Yield0.2%
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Average Duration0.4 Years
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Average Credit QualityAA+
Objectives
The Fund’s objective is to provide total returns consisting principally of interest income by investing primarily in U.S. dollar denominated, liquid, short term fixed income and floating rate debt securities of Canadian and foreign issuers.
Investment Focus
The fund invests primarily in short term fixed income and floating rate debt securities either dominated in U.S. dollars or hedged to U.S. dollars that are rated BBB or higher. The weighted average term to maturity of the fund’s portfolio will tend to be approximately eighteen months.
Fund Facts
June 30, 2022Inception Date | January 5, 2022 |
Currency | USD |
Fund AUM | $7.9 Million |
NAVPU | $9.91 |
Management Fee | 0.25% |
MER as of December 31, 2021 | N/A |
Minimum Initial Investment | $1,000 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RRSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 12 |
Number of Issuers | 6 |
Average Term to Maturity (Years) | 0.4 |
Average Duration (Years) | 0.4 |
Average Coupon (%) | 0.2% |
Yield to Maturity (%) | 1.9% |
Current Yield (%) | 0.2% |
Average Credit Quality | AA+ |
Credit Quality Breakdown
AA & Higher | 91.0% |
A | 8.8% |
BBB | 0.1% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
US Treasury 0.125% Oct 31, 2022 (USD) | 44.1% | AAA |
US Dollar | 13.8% | NA |
US T-Bill Sept 8, 2022 (USD) | 13.3% | AAA |
US Treasury 0.125% Apr 30, 2023 (USD) | 12.3% | AAA |
Us Treasury 0.125% Aug 31, 2022 (USD) | 5.5% | AAA |
Hydro One Inc. 0.71% Jan 16, 2023 | 3.2% | A- |
Nav Canada 0.555% Feb 9, 2024 | 3.2% | A+ |
New York Life Global FDG FRN Jan 10, 2023 (Q LIBOR+28)(USD) | 2.4% | AAA |
Met Life Global Funding I FRN Sep 8, 2022 (SOFR+35)144A(USD) | 1.9% | AA- |
FX Forward - Buy USD Sell CAD (CADUSD6EDAAF) | 0.2% | NA |
Total | 99.9% |
Geographic Breakdown
Canada | 6.4% |
USA | 93.6% |
Performance
Inception Date
January 5, 2022
As of Date
June 30, 2022
Distributions
Distributions
Distribution Frequency | Quarterly |
Most Recent Distribution per Unit | $0.0000 |
12-Month Trailing Distribution Yield | 0.0% |
Next Record Date | September 29, 2022 |
Next Distribution Date | September 30, 2022 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 24, 2022 | March 25, 2022 |
June 23, 2022 | June 24, 2022 |
September 29, 2022 | September 30, 2022 |
December 15, 2022 | December 16, 2022 |
Distributions ($)/Unit3 | YTD* |
---|---|
Total Distributions | 0.0000 |
Interest | - |
Dividends | - |
Capital Gains | - |
Withholding Tax | - |