CI Marret Alternative Enhanced Yield Fund

Series P 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 2024-02-29
$59.3 million
NAVPS
As at 2024-03-27
$9.6044
MER (%)
As at 2023-06-30
0.21
MER (%)
(Excluding performance fee)
As at 2023-06-30
0.19
Management fee (%) Negotiable
Asset class Alternative Credit Focused
Currency CAD
Minimum investment $500 initial/$25 additional
Distribution frequency Monthly
Last distribution $0.0420
Average Duration (ex-CDX) 2.53
Yield to Maturity % 5.72

Risk rating1

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

FUND CODES

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

Performance2 As at 2024-02-29

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*
0.39% 0.28% 2.51% 3.70% 5.67% 2.26% - - 3.19%
*Since inception date

Distribution history3

Payable date Total
2024-03-22 0.0420
2024-02-23 0.0420
2024-01-26 0.0420
2023-12-22 0.0420
2023-11-24 0.0420
Payable date Total
2023-10-27 0.0420
2023-09-22 0.0420
2023-08-25 0.0420
2023-07-28 0.0420
2023-06-23 0.0420

FUND CHARACTERISTICS

Average Coupon % * 4.59
Average Duration (ex-CDX) 2.53
Cash and Equivalents % -12.79
Current Yield %* 4.67
Years to Maturity 3.71
Yield to Maturity % 5.72

*Corporate and Government bonds only.

RATING SUMMARY (%)*

AAA 24.07
AA 0.09
A 4.65
BBB 19.43
BB 30.36
B 15.07
D 0.00
NR 4.50

*Corporate and Government bonds only.

CI Marret Alternative Enhanced Yield Fund

Series P CAD
 
Portfolio allocations4 As at 2024-02-29
Asset allocation (%)
  • Cash and Equivalents 46.41
  • Canadian Government Bonds 19.26
  • Canadian Corporate Bonds 12.95
  • Foreign Corporate Bonds 12.49
  • Foreign Government Bonds 8.44
  • Canadian Equity 0.38
  • US Equity 0.08
  • Other 0.04
  • Derivatives -0.05
Sector allocation (%)
  • Fixed Income 53.14
  • Cash and Cash Equivalent 46.41
  • Consumer Goods 0.31
  • Financial Services 0.15
  • Other -0.01
Geographic allocation(%)
  • United States 58.02
  • Canada 41.94
  • Bermuda 0.10
  • Other 0.04
  • Multi-National -0.10
Top holdings
Sector (%)
1. Canada Government 3.25% 01-Dec-2033 Fixed Income 6.56%
2. TransDigm Inc 6.25% 01-Feb-2024 Cash and Cash Equivalent 5.35%
3. UNITED STATES TREASURY NOTE/BOND 4.00% 31-Jan-2029 Fixed Income 4.98%
4. Ontario Province 4.15% 02-Jun-2034 Fixed Income 4.50%
5. United States Treasury 3.75% 31-Dec-2028 Fixed Income 4.02%
6. Southwestern Energy Co 5.70% 23-Oct-2024 Cash and Cash Equivalent 2.81%
7. Ontario Province 4.15% 02-Dec-2054 Fixed Income 2.50%
8. Ford Motor Credit Co LLC 3.66% 08-Sep-2024 Cash and Cash Equivalent 2.25%
9. Walgreens Boots Alliance Inc 3.80% 18-Aug-2024 Cash and Cash Equivalent 2.24%
10. Crownrock LP 5.63% 01-Feb-2024 Cash and Cash Equivalent 2.24%
11. Kruger Packaging Holdings LP 6.00% 01-Feb-2024 Cash and Cash Equivalent 2.21%
12. SNC-Lavalin Group Inc 3.80% 19-Jul-2024 Cash and Cash Equivalent 2.13%
13. Bombardier Inc 7.13% 01-Feb-2024 Cash and Cash Equivalent 2.07%
14. UNITED STATES TREASURY NOTE/BOND 4.00% 15-Feb-2034 Fixed Income 2.05%
15. VICI Properties LP 3.50% 01-Feb-2024 Cash and Cash Equivalent 2.00%

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 Investments Inc.
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.