CI Alternative Investment Grade Credit Fund

Series F CAD
 

Fund overview

The fund seeks to generate consistent positive total returns with an emphasis on capital preservation and low correlation to traditional equity and fixed income markets. The fund will be primarily invested in the investment grade debt of corporations and financial institutions in the developed world.

Fund details

description of elementelement value
Inception date November 2018
CAD Total net assets ($CAD)
As at 2024-03-28
$754.3 million
NAVPS
As at 2024-04-19
$9.2557
MER (%)
As at 2023-12-31
1.73
MER (%)
(Excluding performance fee)
As at 2023-12-31
1.73
Management fee (%) 0.80
Asset class Alternative Credit Focused
Currency CAD
Minimum investment $500 initial/$25 additional
Distribution frequency Monthly
Last distribution $0.0250
Average Credit Rating A-

Risk rating1

  • Low
  • Low to medium
  • Medium
  • Medium to high
  • High

FUND CODES

F 4190
A ISC 2190
DSC SO* 3190
LL SO 3090
I 5190
P 90190
*No new purchases directly into switch only funds.

Performance2 As at 2024-03-31

Growth of $10,000 (Since inception date)

growth of 10k graph

Calendar year performance

annual performance graph

average annual compound returns

YTD 1 Mo 3 Mo 6 Mo 1 Y 3 Y 5 Y 10 Y Inception*
2.84% 0.57% 2.84% 5.63% 8.17% 1.87% 3.06% - 3.10%
*Since inception date

Distribution history3

Payable date Total
2024-03-22 0.0250
2024-02-23 0.0250
2024-01-26 0.0250
2023-12-15 0.1062
2023-11-24 0.0250
Payable date Total
2023-10-27 0.0250
2023-09-22 0.0250
2023-08-25 0.0250
2023-07-28 0.0250
2023-06-23 0.0250

FUND CHARACTERISTICS

Average Coupon % 4.48
Duration 1.49
Yield 5.83

RATING SUMMARY (%)

AAA 6.39
AA 12.68
A 20.02
BBB 55.36
BB 5.19
B 0.36
Average Credit Rating A-

*Corporate and Government bonds only.

CI Alternative Investment Grade Credit Fund

Series F CAD
 
Portfolio allocations4 As at 2024-03-31
Asset allocation (%)
  • Canadian Corporate Bonds 153.68
  • Cash and Equivalents 71.11
  • Foreign Corporate Bonds 24.32
  • Canadian Bonds - Other 10.37
  • US Equity 1.82
  • Mortgages 1.20
  • Canadian Equity 0.50
  • Derivatives -0.11
  • Foreign Government Bonds -24.92
  • Other -137.97
Sector allocation (%)
  • Cash and Cash Equivalent 71.11
  • Fixed Income 26.41
  • Financial Services 2.09
  • Exchange Traded Fund 0.19
  • Energy 0.09
  • Utilities 0.07
  • Telecommunications 0.06
  • Consumer Services 0.01
  • Other -0.03
Geographic allocation(%)
  • Canada 100.73
  • Spain 0.91
  • Multi-National 0.62
  • United Kingdom 0.55
  • Bermuda 0.36
  • Other 0.08
  • United States -3.25
Top holdings
Sector (%)
1. Cards II Trust 2.43% 15-Nov-2027 Fixed Income 5.04%
2. Canada Government 3.25% 01-Dec-2033 Fixed Income 4.63%
3. Bank of Nova Scotia 4.68% 01-Feb-2029 Fixed Income 4.06%
4. Suncor Energy Inc 5.40% 17-Nov-2026 Fixed Income 3.97%
5. Glacier Credit Card Trust 2.28% 06-Jun-2024 Cash and Cash Equivalent 3.83%
6. Royal Bank of Canada 5.34% 23-Jun-2026 Fixed Income 3.81%
7. Capital Power Corp 4.28% 18-Jul-2024 Cash and Cash Equivalent 3.54%
8. Bell Canada 5.25% 15-Feb-2029 Fixed Income 3.46%
9. Reliance LP 3.84% 15-Jan-2025 Cash and Cash Equivalent 3.42%
10. Bank of Nova Scotia 5.50% 08-May-2026 Fixed Income 3.42%
11. CAE Inc 5.54% 12-May-2028 Fixed Income 3.25%
12. Athene Global Funding 5.81% 09-Apr-2024 Cash and Cash Equivalent 3.22%
13. Capital Power Corp 5.97% 25-Oct-2033 Fixed Income 3.06%
14. Mondelez International Inc 3.25% 07-Jan-2025 Cash and Cash Equivalent 3.04%
15. Co-operators Financl Srvcs Ltd 3.33% 13-Feb-2030 Fixed Income 2.93%

Management team

First we'll display the Team Company and then the Team members
Jason Goddard
Over 35,000 financial advisors have chosen CI Global Asset Management as a partner. We believe that Canadians have the best opportunity for investments success by using the services of a professional financial advisor. Learn more at ci.com.