CI Marret Alternative Absolute Return Bond Fund

Series P CAD
 

Fund overview

The fund seeks to provide positive absolute returns with low volatility over a market cycle regardless of market conditions or general market direction, by primarily investing in debt instruments across the credit spectrum including cash, government debt, investment grade corporate debt, high yield debt, credit derivatives and other income-producing securities throughout the world. 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 regulations, or any exemptions therefrom.

Fund details

description of elementelement value
Inception date May 2020
CAD Total net assets ($CAD)
As at 2024-06-28
$332.0 million
NAVPS
As at 2024-07-12
$8.4534
MER (%)
As at 2023-12-31
1.40
MER (%)
(Excluding performance fee)
As at 2023-12-31
1.40
Management fee (%) Negotiable
Asset class Alternative Credit Focused
Currency CAD
Minimum investment $500 initial/$25 additional
Distribution frequency Monthly
Last distribution $0.0370
Average Duration (ex-CDX) 5.49
Yield to Maturity % 5.17

Risk rating1

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

FUND CODES

P 90191
A ISC 2191
DSC SO* 3191
LL SO 3091
F 4191
I 5191
*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*
0.24% 1.13% 0.76% 0.24% 4.02% -0.31% - - 0.75%
*Since inception date

Distribution history3

Payable date Total
2024-06-21 0.0370
2024-05-24 0.0370
2024-04-26 0.0370
2024-03-22 0.0370
2024-02-23 0.0370
Payable date Total
2024-01-26 0.0370
2023-12-22 0.0370
2023-11-24 0.0370
2023-10-27 0.0370
2023-09-22 0.0370

Investor suitability

For those who:
  • want a diversified, absolute return portfolio of tactically managed fixed income securities to hold as part of a diversified investment portfolio
  • 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 % * 4.25
Average Duration (ex-CDX) 5.49
Cash and Equivalents % -27.56
Current Yield %* 4.35
Years to Maturity 6.98
Yield to Maturity % 5.17

*Corporate and Government bonds only.

RATING SUMMARY (%)*

AAA 61.92
AA -0.18
A 0.25
BBB 9.43
BB 16.65
B 9.30
D 0.00
NR 0.67

*Corporate and Government bonds only.

CI Marret Alternative Absolute Return Bond Fund

Series P CAD
 
Portfolio allocations4 As at 2024-06-30
Asset allocation (%)
  • Foreign Government Bonds 41.28
  • Canadian Government Bonds 38.46
  • Foreign Corporate Bonds 18.15
  • Canadian Corporate Bonds 10.08
  • Canadian Equity 0.34
  • Other 0.03
  • Foreign Bonds - Other -0.11
  • Cash and Equivalents -8.23
Sector allocation (%)
  • Fixed Income 99.99
  • Consumer Goods 0.34
  • Other 0.03
  • Cash and Cash Equivalent -8.23
Geographic allocation(%)
  • United States 68.06
  • Canada 31.95
  • Bermuda 0.10
  • Other 0.03
  • Multi-National -0.14
Top holdings
Sector (%)
1. United States Treasury 4.38% 15-May-2034 Fixed Income 17.27%
2. Canada Government 3.25% 01-Dec-2033 Fixed Income 14.06%
3. Canada Government 3.00% 01-Jun-2034 Fixed Income 9.65%
4. United States Treasury 3.75% 31-Dec-2028 Fixed Income 7.69%
5. Canada Government 1.50% 01-Jun-2031 Fixed Income 5.63%
6. Ontario Province 4.15% 02-Dec-2054 Fixed Income 4.34%
7. United States Treasury 4.00% 31-Jan-2029 Fixed Income 3.52%
8. United States Treasury 4.88% 31-Oct-2028 Fixed Income 2.98%
9. United States Treasury 4.38% 30-Nov-2030 Fixed Income 2.69%
10. United States Treasury 4.50% 31-Mar-2026 Fixed Income 2.59%
11. United States Treasury 1.75% 15-Jan-2034 Fixed Income 2.54%
12. Ontario Province 4.15% 02-Jun-2034 Fixed Income 2.28%
13. United States Treasury 4.88% 31-May-2026 Fixed Income 2.27%
14. Atkinsrealis Group Inc 3.80% 19-Aug-2024 Cash and Cash Equivalent 1.92%
15. United States Treasury 4.50% 31-May-2029 Fixed Income 1.92%

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.