CI Marret Alternative Enhanced Yield Fund

Series F CAD
 

Fund overview

The Fund seeks to provide income with low volatility over a market cycle regardless of market conditions or general market direction, by primarily investing in both debt instruments across the credit spectrum and cash/cash equivalents. The Fund’s active management seeks to provide income while targeting low correlation to equity and traditional income.The fund will use leverage. The leverage will be created through the use of cash borrowings, short sales and derivative contracts. The fund’s leverage must not exceed three times the fund’s net asset value. The leverage will be calculated in accordance with the methodology prescribed by securities laws, or any exemptions therefrom.

Fund details

description of elementelement value
Inception date May 2020
CAD Total net assets ($CAD)
As at 2024-06-28
$59.3 million
NAVPS
As at 2024-07-18
$9.6254
MER (%)
As at 2023-12-31
1.19
MER (%)
(Excluding performance fee)
As at 2023-12-31
1.19
Management fee (%) 0.80
Asset class Alternative Credit Focused
Currency CAD
Minimum investment $500 initial/$25 additional
Distribution frequency Monthly
Last distribution $0.0350
Average Duration (ex-CDX) 1.96
Yield to Maturity % 5.81

Risk rating1

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

FUND CODES

F 4195
A ISC 2195
DSC SO* 3195
LL SO 3095
I 5195
P 90195
*No new purchases directly into switch only funds.

Performance2 As at 2024-06-30

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*
1.87% 0.60% 1.12% 1.87% 4.99% 1.52% - - 2.52%
*Since inception date

Distribution history3

Payable date Total
2024-06-21 0.0350
2024-05-24 0.0350
2024-04-26 0.0350
2024-03-22 0.0350
2024-02-23 0.0350
Payable date Total
2024-01-26 0.0350
2023-12-22 0.0350
2023-11-24 0.0350
2023-10-27 0.0350
2023-09-22 0.0350

Investor suitability

For those who:
  • want a diversified fixed income portfolio that aims to generate consistent income with low volatility over a credit cycle
  • are investing for the medium and/or long term
  • are seeking an investment which can utilize borrowing, short-selling, leverage and derivatives where appropriate to either maximize returns or mitigate negative returns
  • can tolerate low-to-medium risk

FUND CHARACTERISTICS

Average Coupon % * 4.88
Average Duration (ex-CDX) 1.96
Cash and Equivalents % 3.95
Current Yield %* 4.98
Years to Maturity 2.23
Yield to Maturity % 5.81

*Corporate and Government bonds only.

RATING SUMMARY (%)*

AAA 29.13
AA 0.11
A 0.56
BBB 14.47
BB 32.77
B 18.25
D 0.00
NR 0.85

*Corporate and Government bonds only.

CI Marret Alternative Enhanced Yield Fund

Series F CAD
 
Portfolio allocations4 As at 2024-06-30
Asset allocation (%)
  • Cash and Equivalents 32.90
  • Foreign Corporate Bonds 23.81
  • Canadian Government Bonds 16.50
  • Foreign Government Bonds 14.54
  • Canadian Corporate Bonds 11.95
  • Canadian Equity 0.33
  • Other 0.02
  • Foreign Bonds - Other -0.05
Sector allocation (%)
  • Fixed Income 66.75
  • Cash and Cash Equivalent 32.90
  • Consumer Goods 0.33
  • Other 0.02
Geographic allocation(%)
  • United States 61.09
  • Canada 38.89
  • Bermuda 0.10
  • Other 0.02
  • Multi-National -0.10
Top holdings
Sector (%)
1. Canada Government 3.00% 01-Jun-2034 Fixed Income 5.23%
2. United States Treasury 4.00% 31-Jan-2029 Fixed Income 4.15%
3. Canada Government 3.25% 01-Dec-2033 Fixed Income 4.11%
4. United States Treasury 3.75% 31-Dec-2028 Fixed Income 3.03%
5. Southwestern Energy Co 5.70% 23-Jan-2025 Cash and Cash Equivalent 2.89%
6. United States Treasury 4.50% 31-Mar-2026 Fixed Income 2.85%
7. United States Treasury 4.38% 15-May-2034 Fixed Income 2.58%
8. Ontario Province 4.15% 02-Dec-2054 Fixed Income 2.50%
9. Crownrock LP 5.63% 15-Oct-2025 Fixed Income 2.30%
10. Kruger Packaging Holdings LP 6.00% 01-Jun-2026 Fixed Income 2.27%
11. Ontario Province 4.15% 02-Jun-2034 Fixed Income 2.25%
12. United States Treasury 4.88% 31-May-2026 Fixed Income 2.25%
13. Atkinsrealis Group Inc 3.80% 19-Aug-2024 Cash and Cash Equivalent 2.18%
14. VICI Properties LP 3.50% 26-Jul-2024 Cash and Cash Equivalent 2.08%
15. NOVA Chemicals Corp 5.00% 01-May-2025 Fixed Income 2.02%

Management team

First we'll display the Team Company and then the Team members
Marret Asset Management
Marret Asset Management focuses on fixed-income investing and alternative strategies on behalf of institutional, high net worth and retail clients. Marret Asset Management Inc. is a partly owned subsidiary of CI Financial Corp. and an affiliate of CI Global Asset Management.
Adam Tuer
Adrian Prenc
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.