Investment Discipline
Derek Amery focuses on high quality Canadian issuers. He tactically manages duration, sector allocation and foreign currency exposure utilizing a broad range of risk management tools.
Marc-André Gaudreau offers exposure to a broad range of credit asset classes using a rigorous security selection process and a full range of risk management tools to protect capital while targeting higher yields and capital gains over the course of a credit cycle.
Romas Budd and his team use a combination of investment strategies emphasizing fundamental and technical analytical techniques with the objective of generating risk adjusted total returns through both interest income and capital gains.
Dana Love takes a business owner approach and invests only when the market price deviates from a reasonable estimate of intrinsic value.
The Oversight Committee is responsible for monitoring at both the manager level and the overall Pool level.
Portfolio Management
Literature
Calendar Returns (%) As at 04/30/22
| YTD 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|
| -8.3 | 4.4 | 9.0 | 10.4 | 0.0 | 4.2 | 3.8 |
Compound Returns (%) As at 04/30/22
| 1 mo | 3 mo | 6 mo | 1 yr | 3 yrs | 5 yrs | 10 yrs | Incep |
|---|---|---|---|---|---|---|---|
| -3.8 | -5.8 | -6.2 | -4.4 | 2.6 | 3.0 | - | 3.1 |
Asset
Allocation
| As at 04/30/22 |
|---|
Geographic
Allocation
| As at 04/30/22 |
|---|
Sector
Allocation
| As at 04/30/22 | As at 12/31/21 |
|---|
Top 10 Equity Holdings (%)
| As at 04/30/22 | |
|---|---|
| iShares iBoxx $ High Yield Corporate Bond ETF | 0.9 |
| Royal Bank of Canada | 0.7 |
| Toronto-Dominion Bank (The) | 0.7 |
| Bank of Montreal | 0.6 |
| Brookfield Asset Management Inc., Class "A" | 0.6 |
| Canadian Natural Resources Limited | 0.6 |
| Techtronic Industries Company Limited | 0.6 |
| Bank of Nova Scotia (The) | 0.5 |
| Enbridge Inc. | 0.5 |
| JPMorgan Chase & Co. | 0.5 |
| Total allocation in top holdings | 6.2 |
Top 10 Bond Holdings (%)
| As at 04/30/22 | |
|---|---|
| Scotia Mortgage Income Fund, Series "I" | 2.9 |
| Government of Canada, 1.50% Dec. 01 31 | 1.9 |
| Government of Canada, 2.00% Dec. 01 51 | 1.5 |
| Canada Housing Trust, 1.60% Dec. 15 31 | 1.2 |
| Province of British Columbia, 2.20% Jun. 18 30 | 0.9 |
| Province of Ontario, 2.05% Jun. 02 30 | 0.9 |
| Province of Ontario, 2.55% Dec. 02 52 | 0.9 |
| Province of Ontario, 2.65% Dec. 02 50 | 0.8 |
| Province of Ontario, 2.90% Jun. 02 49 | 0.8 |
| Province of Quebec, 3.10% Dec. 01 51 | 0.8 |
| Total allocation in top holdings | 12.6 |
Historical Distributions ($/unit)
| 2022 Apr |
Mar | Feb | Jan | 2021 Dec |
Nov | Oct | Sep | Aug | Jul | Jun | May |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0.0333 | 0.0333 | 0.0333 | 0.0333 | 0.0333 | 0.0333 | 0.0333 | 0.0333 | 0.0333 | 0.0333 | 0.0333 | 0.0333 |
Dynamic Preferred Pricing
| Management fee rates are applied back to dollar one | |
|---|---|
| Fund Value | % |
| $0K - $250K | 0.570 |
| $250K - $1MM | 0.520 |
| $1MM - $5MM | 0.495 |
| $5MM + | 0.445 |