PORTFOLIO MANAGEMENT
PERFORMANCE
CALENDAR RETURNS (%) As at 03/31/2024
| YTD | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|
| -0.5 | 15.2 | -16.0 | 7.5 | 6.6 | 16.2 | -10.0 | 13.8 | 11.8 |
COMPOUND RETURNS (%) As at 03/31/2024
| 1 month | 3 months | 6 months | 1 year | 3 years | 5 years | 10 years | Inception |
|---|---|---|---|---|---|---|---|
| 1.5 | -0.5 | 8.9 | 10.6 | -0.0 | 3.5 | 1.5 | 2.4 |
ASSET
ALLOCATION 6
As at 02/29/2024
| value | holding |
|---|---|
| High yield bonds | |
| Hybrid Bonds | |
| Cash, Short-Term Investments & Other Net Assets | |
| Investment Grade Bonds | |
| Government Bonds | |
| Bank Loans |
GEOGRAPHIC
ALLOCATION
As at 02/29/2024
| value | holding |
|---|---|
| United States | |
| Canada |
SECTOR
ALLOCATION
As at 02/29/2024
| value | holding |
|---|---|
| Energy | |
| Industrial | |
| Financial | |
| Real Estate | |
| Communication | |
| Infrastructure | |
| Securitization |
TOP 10 ISSUERS (%)
As at 02/29/2024
| col1 | col2 |
|---|---|
| Parkland Fuel Corp | 5.0 |
| Ishares IBOXX H/Y Corp Bond ETF | 4.2 |
| Cleveland-Cliffs Inc. | 3.3 |
| Precision Drilling Corp | 3.2 |
| Northland Power Inc. | 3.1 |
| Nationstar Mtg Hld Inc. | 2.9 |
| Freedom Mortgage Corp. | 2.7 |
| Iron Mountain Canada | 2.6 |
| Cinemark USA Inc. | 2.5 |
| Pennymac Fin Svcs Inc. | 2.5 |
| Total allocation in top holdings | 31.8 |
FIXED INCOME CHARACTERISTICS
| Yield to Maturity (%) | 6.71 |
| Current yield (%) | 6.11 |
| Duration (years) | 3.81 |
| Credit Duration (years) | 3.65 |
| Average credit rating | BB |
| Weighted Average Price ($) | 96.45 |
| Average Coupon (%) | 5.96 |
CREDIT QUALITY6
As at 02/29/2024
| col1 | col12 | col3 |
|---|---|---|
| AAA 6.4% | BB 51.5% | D 0.0% |
| AA 0.0% | B 33.0% | NR 0.1% |
| A 0.0% | CCC 4.3% | |
| BBB 4.7% | CC 0.0% |
HISTORICAL DISTRIBUTIONS ($/unit)
| 2024 Mar | Feb | 2024 Jan | Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.0062 | 0.0062 | 0.0062 | 0.0063 | 0.0062 | 0.0061 | 0.0062 | 0.0062 | 0.0064 | 0.0064 | 0.0062 | 0.0062 |
DYNAMIC PREFERRED PRICING
Management fee rates are applied back to dollar one
| Fund Value | % |
|---|---|
| $0K - $250K | 0.850 |
| $250K - $1M | 0.775 |
| $1M - $5M | 0.725 |
| $5M+ | 0.675 |
- 1. For the period ended 2023-06-30.
- 2. This Monthly distribution is fixed but not guaranteed and may be adjusted from time to time at the discretion of the fund manager.
- 3. The yield is determined by annualizing the fixed distribution rate and does not include any distributions in excess of the fixed distribution rate that may be paid at the fund’s year-end.
- 4. Risk rating measures the degree of uncertainty that an investor can handle regarding fluctuations in the value of their portfolio. The amount of risk associated with any particular investment depends largely on your own personal circumstances including your time horizon, liquidity needs, portfolio size, income, investment knowledge and attitude toward price fluctuations. Investors should consult their financial advisor before making a decision as to whether this mutual fund is a suitable investment for them.
- 5. Not available for purchases, switches out only.
- 6. Excludes Cash, Short-Term Investments, Derivatives & Other Net Assets
- . Distributions may consist of net income, dividends, net realized capital gains, and/or return of capital. Distributions are not guaranteed and investors should not confuse a fund’s distribution yield with its performance or rate of return.
- . Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing.
- . The indicated rates of return are the historical annual compounded total returns including changes in units [share] value and reinvestment of all distributions [dividends] and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. The rates of return are used only to illustrate the effects of the compound growth rate and are not intended to reflect future values of the mutual fund or returns on investment in the mutual fund. Investments in mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
- . Compound growth calculations are used only for the purpose of illustrating the effects of compound growth and are not intended to reflect future value of any mutual fund or returns on investment in any mutual fund.