Overview
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Asset ClassFixed Income
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CIFSC CategoryGlobal Fixed Income
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Risk RatingLow
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Number of Securities11
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Yield to Maturity4.4%
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Current Yield0.9%
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Average Duration2.6 Years
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Average Credit Quality2AA
Objectives
The Fund’s objective is to provide total returns consisting principally of interest income by investing primarily in U.S. dollar denominated, liquid, short term fixed income and floating rate debt securities of Canadian and foreign issuers.
Investment Focus
The fund invests primarily in short term fixed income and floating rate debt securities either dominated in U.S. dollars or hedged to U.S. dollars that are rated BBB or higher. The weighted average term to maturity of the fund’s portfolio will tend to be approximately eighteen months.
Fund Facts
November 30, 2024Inception Date | January 5, 2022 |
Currency | USD |
Fund AUM | $22.8 Million |
NAVPU | $10.81 |
Management Fee | 0.25% |
MER as of June 30, 2024 (unaudited) | 0.39% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RSP Eligible | Yes |
Portfolio Characteristics
Number of Securities | 11 |
Number of Issuers | 7 |
Average Term to Maturity (Years) | 2.7 |
Average Duration (Years) | 2.6 |
Average Coupon (%) | 0.8% |
Yield to Maturity (%) | 4.4% |
Current Yield (%) | 0.9% |
Average Credit Quality2 | AA |
Credit Quality Breakdown
AA & Higher | 83.6% |
A | 16.4% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
US Treasury 0.375% Sep 30, 2027 (USD) | 72.3% | AA+ |
US DOLLAR | 6.3% | NA |
New York Life Global FDG 0.95% Jun 24, 2025 (USD) | 5.1% | AAA |
American Honda Finance 2.0% Mar 24, 2028 (USD) | 5.0% | A- |
Apple Inc. 0.55% Aug 20, 2025 (USD) | 4.9% | AA+ |
Toyota Motor Credit Corp 1.9% Apr 6, 2028 (USD) | 4.7% | A+ |
Manulife Financial Corp 2.484% May 19, 2027 (USD) | 3.4% | A |
UBS Group AG 6.373% Jul 15, 2026 (USD) | 2.3% | A- |
UBS Group AG 1.305% Feb 2, 2026/27 (USD) | 1.1% | A- |
Apple Inc. 1.2% Feb 8, 2028 (USD) | 1.0% | AA+ |
Total | 100.0% |
Geographic Breakdown
Canada | 3.4% |
USA | 93.2% |
Europe | 3.4% |
Performance
Inception Date
January 5, 2022
As of Date
November 30, 2024
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
Since Inception (Annualized) |
0.4% | 0.2% | 3.8% | 4.6% | 0.0% | 3.0% |
Calendar Year Returns
Distributions
Distributions
Distribution Frequency | Monthly |
Most Recent Distribution per Unit | $0.0000 |
12-Month Trailing Distribution Yield | 0.2% |
Next Record Date | December 19, 2024 |
Next Distribution Date | December 20, 2024 |
Monthly Distributions
Record Date | Distribution Date |
---|---|
January 30, 2025 | January 31, 2025 |
February 27, 2025 | February 28, 2025 |
March 27, 2025 | March 28, 2025 |
April 24, 2025 | April 25, 2025 |
May 29, 2025 | May 30, 2025 |
June 26, 2025 | June 27, 2025 |
July 24, 2025 | July 25, 2025 |
August 28, 2025 | August 29, 2025 |
September 25, 2025 | September 26, 2025 |
October 30, 2025 | October 31, 2025 |
November 27, 2025 | November 28, 2025 |
December 18, 2025 | December 19, 2025 |
Distributions ($)/Unit3 | YTD* | 2023 | 2022 |
---|---|---|---|
Total Distributions | 0.0066 | 0.0169 | 0.0491 |
Interest | - | - | 0.0007 |
Dividends | - | - | - |
Capital Gains | - | 0.0169 | 0.0484 |
Withholding Tax | - | - | - |