Investment Discipline
- 30% Dynamic Active Core Bond Private Pool focuses on high quality Canadian issuers. The manager tactically manages duration, sector allocation and foreign currency exposure utilizing a broad range of risk management tools.
- 30% Dynamic Tactical Bond Private Pool uses a combination of investment strategies emphasizing fundamental and technical analysis with the objective of generating risk adjusted total returns through both interest income and capital gains.
- 20% Dynamic Corporate Bond Strategies Fund, a diversified portfolio of mostly North American investment grade corporate bonds with potential to add incremental high-yield upgrade candidates. Includes active management of credit and interest rate risk.
- 20% Dynamic Premium Yield Fund, a unique portfolio strategy of writing covered options provides equity exposure with potentially reduced volatility and generates distributions by collecting premiums from writing options.
Portfolio Management
Literature
Calendar Returns (%) As at 04/30/22
| YTD 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| -8.3 | 0.4 | 7.2 | 6.1 | 1.2 | 2.9 |
Compound Returns (%) As at 04/30/22
| 1 mo | 3 mo | 6 mo | 1 yr | 3 yrs | 5 yrs | 10 yrs | Incep |
|---|---|---|---|---|---|---|---|
| -3.0 | -6.1 | -6.4 | -6.4 | 0.2 | 1.3 | - | 1.6 |
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 | |
|---|---|
| Cenovus Energy Inc., Long Equities, Covered Calls | 1.2 |
| Amazon.com, Inc., Long Equities | 1.0 |
| Dynamic Premium Yield PLUS Fund, Series "O" | 1.0 |
| Uber Technologies, Inc., Long Equities, Covered Puts | 0.9 |
| Alphabet Inc., Class "A", Long Equities, Covered Puts | 0.7 |
| Burlington Stores, Inc., Long Equities, Covered Puts | 0.7 |
| Centene Corporation, Long Equities, Covered Calls, Covered Puts | 0.7 |
| Patterson-UTI Energy, Inc., Long Equities, Covered Puts | 0.7 |
| Boston Scientific Corporation, Long Equities, Covered Puts | 0.6 |
| Halliburton Company, Long Equities, Covered Puts | 0.6 |
| Total allocation in top holdings | 8.1 |
Top 10 Bond Holdings (%)
| As at 04/30/22 | |
|---|---|
| Government of Canada, 1.50% Dec. 01 31 | 2.9 |
| Scotia Mortgage Income Fund, Series "I" | 2.9 |
| Canada Housing Trust, 1.60% Dec. 15 31 | 1.8 |
| Government of Canada, 2.00% Dec. 01 51 | 1.5 |
| Province of British Columbia, 2.20% Jun. 18 30 | 1.5 |
| Province of Ontario, 2.55% Dec. 02 52 | 1.4 |
| Canada Housing Trust, 1.75% Jun. 15 30 | 1.2 |
| Government of Canada, 2.00% Dec. 01 51 | 1.2 |
| 1832 AM U.S. $ Investment Grade U.S. Corporate Bond Pool, Series "I" | 1.0 |
| Government of Canada, 1.25% Mar. 01 27 | 1.0 |
| Total allocation in top holdings | 16.4 |
Credit Quality
| As at 04/30/22 | ||
|---|---|---|
| AAA 14.1% | A+ 7.7% | BB+ 1.2% |
| AA- 3.0% | A 1.8% | BB 0.7% |
| AA+ 2.8% | BBB+ 18.9% | BB- 0.3% |
| AA 0.8% | BBB- 9.1% | NR 4.6% |
| A- 8.1% | BBB 4.1% | |
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 | 0.550 |
| $250K - $1MM | 0.500 |
| $1MM - $5MM | 0.475 |
| $5MM + | 0.425 |