Overview
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Asset ClassFixed Income
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CIFSC CategoryCanadian Short-Term Fixed Income
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Risk RatingLow
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Number of Securities67
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Yield to Maturity3.8%
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Current Yield3.0%
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Average Duration8.3 Years
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Average Credit Quality2A+
Objectives
The Fund’s objective is to provide above average, long-term total returns consisting principally of interest income by investing primarily in high-quality Canadian dollar denominated fixed income securities of Canadian and foreign issuers.
Investment Focus
The Fund invests in high-quality Canadian dollar denominated fixed income securities of Canadian issuers and up to 60% in foreign issuers. Portfolio is unable to purchase fixed income securities rated below BBB-.
Fund Facts
November 30, 2024Inception Date | December 28, 2011 |
Currency | CAD |
Fund AUM | $100.7 Million |
NAVPU | $10.86 |
Management Fee | 1.15% |
MER as of June 30, 2024 (unaudited) | 1.40% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 67 |
Number of Issuers | 39 |
Average Term to Maturity (Years) | 11.4 |
Average Duration (Years) | 8.3 |
Average Coupon (%) | 3.0% |
Yield to Maturity (%) | 3.8% |
Current Yield (%) | 3.0% |
Average Credit Quality2 | A+ |
Credit Quality Breakdown
AA & Higher | 50.1% |
A | 24.9% |
BBB | 25.0% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
Canada RRB 0.5% Dec 1, 2050 | 16.5% | AAA |
MetLife Global Funding l 1.95% Mar 20, 2028 | 5.5% | AA- |
Canada RRB 4.25% Dec 1, 2026 | 4.4% | AAA |
Nestle Holdings Inc. 2.192% Jan 26, 2029 | 4.1% | AA- |
Enbridge Inc. 6.51% Nov 9, 2052 | 4.0% | BBB+ |
Pembina Pipeline Corp 5.67% Jan 12, 2054 | 4.0% | BBB |
Honda Canada Finance Inc. 1.646% Feb 25, 2028 | 3.9% | A- |
Canada 0.5% Dec 1, 2030 | 3.8% | AAA |
Canada 0.25% Mar 1, 2026 | 3.5% | AAA |
Equitable Bank NHA MBS (97527023) 3.79% Nov 1, 2028 | 2.9% | AAA |
Total | 52.6% |
Geographic Breakdown
Canada | 81.5% |
USA | 9.1% |
Europe | 9.4% |
Performance
Inception Date
December 28, 2011
As of Date
November 30, 2024
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
10 Year (Annualized) |
Since Inception (Annualized) |
1.7% | 3.3% | 6.1% | 9.4% | 1.9% | 2.7% | 1.9% | 2.3% |
Calendar Year Returns
Distributions
Distributions
Distribution Frequency | Quarterly |
Most Recent Distribution per Unit | $0.0710 |
12-Month Trailing Distribution Yield | 3.3% |
Next Record Date | December 19, 2024 |
Next Distribution Date | December 20, 2024 |
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 20, 2025 | March 21, 2025 |
June 19, 2025 | June 20, 2025 |
September 18, 2025 | September 19, 2025 |
December 18, 2025 | December 19, 2025 |
Distributions ($)/Unit3 | YTD* | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
---|---|---|---|---|---|---|---|---|---|---|---|
Total Distributions | 0.2116 | 0.3090 | 0.0936 | 0.1749 | 0.2415 | 0.1657 | 0.1372 | 0.0862 | 0.0748 | 0.2416 | 0.2087 |
Interest | - | 0.3090 | 0.0936 | 0.0700 | 0.2415 | 0.1657 | 0.1372 | 0.0869 | 0.0754 | 0.1586 | 0.2097 |
Dividends | - | - | - | - | - | - | - | - | - | - | - |
Capital Gains | - | - | - | 0.1049 | - | - | - | - | - | 0.0838 | - |
Withholding Tax | - | - | - | - | - | - | - | (0.0007) | (0.0006) | (0.0008) | (0.0010) |