Overview
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Asset ClassFixed Income
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CIFSC CategoryGlobal Fixed Income
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Risk RatingLow
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Number of Securities7
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Yield to Maturity5.3%
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Current Yield0.3%
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Average Duration0.7 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
August 31, 2023Inception Date | January 5, 2022 |
Currency | USD |
Fund AUM | $13.4 Million |
NAVPU | $10.21 |
Management Fee | 0.25% |
MER as of June 30, 2023 (unaudited) | 0.38% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RRSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 7 |
Number of Issuers | 3 |
Average Term to Maturity (Years) | 0.7 |
Average Duration (Years) | 0.7 |
Average Coupon (%) | 0.3% |
Yield to Maturity (%) | 5.3% |
Current Yield (%) | 0.3% |
Average Credit Quality2 | AA+ |
Credit Quality Breakdown
AA & Higher | 89.8% |
A | 8.8% |
BBB | 1.4% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
US Treasury 0.125% Feb 15, 2024 (USD) | 48.3% | AAA |
US Treasury 0.375% Sep 15, 2024 (USD) | 40.2% | AA+ |
Nav Canada 0.555% Feb 9, 2024 | 8.6% | A+ |
Transcanada Pipelines 1.0% Oct 12, 2024 (USD) | 1.4% | BBB |
Total | 98.5% |
Geographic Breakdown
Canada | 10.1% |
USA | 89.9% |
Performance
Inception Date
January 5, 2022
As of Date
August 31, 2023
Compound Returns
1 Month | 3 Months | YTD | 1 Year | Since Inception (Annualized) |
0.4% | 1.2% | 2.6% | 3.4% | 1.6% |
Calendar Year Returns
Distributions
Distributions
Distribution Frequency | Monthly |
Most Recent Distribution per Unit | $0.0000 |
12-Month Trailing Distribution Yield | 0.5% |
Next Record Date | September 28, 2023 |
Next Distribution Date | September 29, 2023 |
Monthly Distributions
Record Date | Distribution Date |
---|---|
January 26, 2023 | January 27, 2023 |
February 23, 2023 | February 24, 2023 |
March 30, 2023 | March 31, 2023 |
April 27, 2023 | April 28, 2023 |
May 25, 2023 | May 26, 2023 |
June 29, 2023 | June 30, 2023 |
July 27, 2023 | July 28, 2023 |
August 24, 2023 | August 25, 2023 |
September 28, 2023 | September 29, 2023 |
October 26, 2023 | October 27, 2023 |
November 23, 2023 | November 24, 2023 |
December 14, 2023 | December 15, 2023 |
Distributions ($)/Unit3 | YTD* | 2022 |
---|---|---|
Total Distributions | 0.0009 | 0.0491 |
Interest | - | 0.0007 |
Dividends | - | - |
Capital Gains | - | 0.0484 |
Withholding Tax | - | - |