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 Securities101
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Yield to Maturity5.6%
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Current Yield3.9%
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Average Duration3.5 Years
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Average Credit QualityA+
Objectives
The Fund’s objective is to achieve long term capital growth of returns consisting of income and some capital gains primarily through investments in U.S. debt and money market securities either denominated in U.S. dollars or hedged to U.S. dollars using forward currency contracts.
Investment Focus
The Fund invests primarily in U.S. debt and money market securities either denominated in U.S. dollars or hedged to U.S. dollars and is unrestricted across all credits.
Fund Facts
September 30, 2024Inception Date | December 30, 2014 |
Currency | USD |
Fund AUM | $271.9 Million |
NAVPU | $11.27 |
Management Fee | 0.75% |
MER as of June 30, 2024 (unaudited) | 0.92% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 101 |
Number of Issuers | 51 |
Average Term to Maturity (Years) | 4.6 |
Average Duration (Years) | 3.5 |
Average Coupon (%) | 3.6% |
Yield to Maturity (%) | 5.6% |
Current Yield (%) | 3.9% |
Average Credit Quality2 | A+ |
Credit Quality Breakdown
AA & Higher | 54.0% |
A | 8.2% |
BBB | 16.3% |
BB & Lower | 20.3% |
Not Rated | 1.2% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
US Treasury 1.375% Nov 15, 2031 (USD) | 17.8% | AA+ |
US Treasury 0.625% Aug 15, 2030 (USD) | 11.6% | AAA |
Air Canada 4.625% Aug 15, 2029 | 4.7% | BB+ |
RBC NHA MBS (97520622) 1.29% Nov 1, 2026 | 3.5% | AAA |
TD Bank CB 4.232% Apr 2, 2029 | 3.5% | AAA |
RBC CB 4.256% Dec 21, 2026 | 3.1% | AAA |
Scotia Capital NHA MBS (97529769) 3.85% Sep 1, 2029 | 2.1% | AAA |
Hertz 12.625% Jul 15, 2029 144A (USD) | 1.8% | BB- |
BNS (AT1) 3.7% Jul 27, 2026/2081 | 1.7% | BBB- |
Manulife Financial Corp (AT1) 4.1% Mar 19, 2027/2082 | 1.6% | BBB+ |
Total | 51.4% |
Geographic Breakdown
Canada | 45.1% |
USA | 50.5% |
South America | 1.4% |
Europe | 2.4% |
Other | 0.6% |
Performance
Inception Date
December 30, 2014
As of Date
September 30, 2024
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
Since Inception (Annualized) |
1.3% | 3.1% | 6.0% | 10.0% | 3.0% | 7.9% | 5.3% |
Calendar Year Returns
Awards
LSEG Lipper Fund Awards
The LSEG Lipper Fund Awards Canada, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.
Best Global Corporate Fixed Income Fund Over 5 Years
Distributions
Distributions
Distribution Frequency | Quarterly |
Most Recent Distribution per Unit | $0.0888 |
12-Month Trailing Distribution Yield | 3.6% |
Next Record Date | December 19, 2024 |
Next Distribution Date | December 20, 2024 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 21, 2024 | March 22, 2024 |
June 20, 2024 | June 21, 2024 |
September 19, 2024 | September 20, 2024 |
December 19, 2024 | December 20, 2024 |
Distributions ($)/Unit3 | YTD* | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|---|---|---|
Total Distributions | 0.2704 | 0.4795 | 0.7138 | 0.7042 | 0.3369 | 0.2665 | 0.2215 | 0.2287 | 0.4170 | 0.3464 |
Interest | - | 0.4121 | 0.3473 | 0.2519 | 0.3264 | 0.2665 | 0.2215 | 0.2290 | 0.4170 | 0.2474 |
Dividends | - | 0.0243 | 0.0237 | 0.0318 | 0.0105 | - | - | - | - | - |
Capital Gains | - | 0.0432 | 0.3428 | 0.4208 | - | - | - | - | - | 0.0990 |
Withholding Tax | - | - | - | (0.0002) | - | - | - | (0.0003) | - | - |