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 Securities8
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Yield to Maturity4.7%
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Current Yield0.3%
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Average Duration0.9 Years
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Average Credit QualityAAA
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
December 31, 2022Inception Date | January 5, 2022 |
Currency | USD |
Fund AUM | $18.9 Million |
NAVPU | $9.96 |
Management Fee | 0.25% |
MER as of June 30, 2022 (unaudited) | 0.38% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RRSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 8 |
Number of Issuers | 4 |
Average Term to Maturity (Years) | 0.9 |
Average Duration (Years) | 0.9 |
Average Coupon (%) | 0.3% |
Yield to Maturity (%) | 4.7% |
Current Yield (%) | 0.3% |
Average Credit Quality | AAA |
Credit Quality Breakdown
AA & Higher | 97.4% |
A | 2.6% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
US Treasury 0.125% Dec 15, 2023 (USD) | 47.7% | AAA |
US Treasury 0.125% Jan 15, 2024 (USD) | 45.4% | AAA |
New York Life Global FDG FRN Jan 10, 2023 (Q LIBOR+28)(USD) | 3.7% | AAA |
Hydro One Inc. 0.71% Jan 16, 2023 | 1.3% | A- |
Nav Canada 0.555% Feb 9, 2024 | 1.3% | A+ |
US Dollar | 0.6% | NA |
Canadian Dollar | 0.0% | NA |
0.0% | ||
0.0% | ||
0.0% | ||
Total | 100.0% |
Geographic Breakdown
Canada | 2.6% |
USA | 97.4% |
Performance
Performance data is not available as la Series F has not been offered under a prospectus for 12 consecutive months.
Distributions
Distributions
Distribution Frequency | Monthly |
Most Recent Distribution per Unit | $0.0486 |
12-Month Trailing Distribution Yield | 0.5% |
Next Record Date | January 26, 2023 |
Next Distribution Date | January 27, 2023 |
Monthly Distributions
Record Date | Distribution Date |
---|---|
January 26, 2023 | January 27, 2023 |
February 23, 2023 | February 24, 2023 |
March 30, 2023 | March 31, 2023 |
April 27, 2023 | April 28, 2023 |
May 25, 2023 | May 26, 2023 |
June 29, 2023 | June 30, 2023 |
July 27, 2023 | July 28, 2023 |
August 24, 2023 | August 25, 2023 |
September 28, 2023 | September 29, 2023 |
October 26, 2023 | October 27, 2023 |
November 23, 2023 | November 24, 2023 |
December 14, 2023 | December 15, 2023 |
Distributions ($)/Unit3 | YTD* |
---|---|
Total Distributions | 0.0491 |
Interest | - |
Dividends | - |
Capital Gains | - |
Withholding Tax | - |