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 Securities8
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Yield to Maturity3.8%
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Current Yield0.7%
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Average Duration2.5 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
September 30, 2024Inception Date | January 5, 2022 |
Currency | USD |
Fund AUM | $20.7 Million |
NAVPU | $10.88 |
Management Fee | 0.25% |
MER as of June 30, 2024 (unaudited) | 0.39% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 8 |
Number of Issuers | 6 |
Average Term to Maturity (Years) | 2.5 |
Average Duration (Years) | 2.5 |
Average Coupon (%) | 0.6% |
Yield to Maturity (%) | 3.8% |
Current Yield (%) | 0.7% |
Average Credit Quality2 | AA+ |
Credit Quality Breakdown
AA & Higher | 92.0% |
A | 4.3% |
BBB | 3.7% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
US Treasury 0.375% Jul 31, 2027 (USD) | 81.5% | AA+ |
New York Life Global FDG 0.95% Jun 24, 2025 (USD) | 5.5% | AAA |
Apple Inc. 0.55% Aug 20, 2025 (USD) | 5.4% | AA+ |
Transcanada Pipelines 1.0% Oct 12, 2024 (USD) | 3.7% | BBB |
UBS Group AG 6.373% Jul 15, 2026 (USD) | 2.5% | A- |
American Honda Finance 2.0% Mar 24, 2028 (USD) | 1.8% | A- |
US DOLLAR | 0.3% | NA |
Total | 100.7% |
Geographic Breakdown
Canada | 3.7% |
USA | 93.8% |
Europe | 2.5% |
Performance
Inception Date
January 5, 2022
As of Date
September 30, 2024
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
Since Inception (Annualized) |
0.8% | 2.7% | 4.5% | 6.4% | 0.0% | 0.0% | 3.4% |
Calendar Year Returns
Distributions
Distributions
Distribution Frequency | Monthly |
Most Recent Distribution per Unit | $0.0037 |
12-Month Trailing Distribution Yield | 0.2% |
Next Record Date | October 24, 2024 |
Next Distribution Date | October 25, 2024 |
Monthly Distributions
Record Date | Distribution Date |
---|---|
January 25, 2024 | January 26, 2024 |
February 22, 2024 | February 23, 2024 |
March 21, 2024 | March 22, 2024 |
April 25, 2024 | April 26, 2024 |
May 30, 2024 | May 31, 2024 |
June 27, 2024 | June 28, 2024 |
July 25, 2024 | July 26, 2024 |
August 29, 2024 | August 30, 2024 |
September 26, 2024 | September 27, 2024 |
October 24, 2024 | October 25, 2024 |
November 28, 2024 | November 29, 2024 |
December 19, 2024 | December 20, 2024 |
Distributions ($)/Unit3 | YTD* | 2023 | 2022 |
---|---|---|---|
Total Distributions | 0.0042 | 0.0169 | 0.0491 |
Interest | - | - | 0.0007 |
Dividends | - | - | - |
Capital Gains | - | 0.0169 | 0.0484 |
Withholding Tax | - | - | - |