CI Alternative Investment Grade Credit Fund

Series AH USD Hedged
 

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 2020
CAD Total net assets ($CAD)
As at 2024-04-30
$719.0 million
NAVPS
As at 2024-05-17
$9.0182
MER (%)
As at 2023-12-31
2.30
MER (%)
(Excluding performance fee)
As at 2023-12-31
2.30
Management fee (%) 1.30
Asset class Alternative Credit Focused
Currency USD Hedged
Minimum investment $500 initial/$25 additional
Distribution frequency Monthly
Last distribution $0.0190
Average Credit Rating BBB+

Risk rating1

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

FUND CODES

AH ISC 2194
DSC SO* 3194
LL SO 3094
FH 4194
IH 5194
PH 90390
*No new purchases directly into switch only funds.

Performance2 As at 2024-04-30

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*
2.77% 0.01% 1.39% 5.41% 7.41% 1.39% - - 2.10%
*Since inception date

Distribution history3

Payable date Total
2024-04-26 0.0190
2024-03-22 0.0190
2024-02-23 0.0190
2024-01-26 0.0190
2023-12-15 0.0987
Payable date Total
2023-11-24 0.0190
2023-10-27 0.0190
2023-09-22 0.0190
2023-08-25 0.0190
2023-07-28 0.0190

FUND CHARACTERISTICS

Average Coupon % 4.54
Duration 1.96
Yield 5.77

RATING SUMMARY (%)

AAA 6.03
AA 8.82
A 19.79
BBB 61.17
BB 3.86
B 0.33
Average Credit Rating BBB+

*Corporate and Government bonds only.

CI Alternative Investment Grade Credit Fund

Series AH USD Hedged
 
Portfolio allocations4 As at 2024-04-30
Asset allocation (%)
  • Canadian Corporate Bonds 151.37
  • Cash and Equivalents 68.05
  • Foreign Corporate Bonds 28.47
  • Canadian Bonds - Other 9.68
  • Mortgages 1.25
  • Canadian Equity 0.57
  • US Equity 0.13
  • International Equity 0.01
  • Derivatives -0.11
  • Other -159.42
Sector allocation (%)
  • Cash and Cash Equivalent 68.05
  • Fixed Income 31.31
  • Financial Services 0.31
  • Energy 0.10
  • Utilities 0.09
  • Technology 0.08
  • Exchange Traded Fund 0.08
  • Telecommunications 0.07
  • Consumer Services 0.03
  • Other -0.12
Geographic allocation(%)
  • Canada 103.23
  • Japan 1.24
  • Ireland 0.75
  • Multi-National 0.66
  • United Kingdom 0.57
  • Bermuda 0.38
  • Other -6.83
Top holdings
Sector (%)
1. Canada Government 3.25% 01-Dec-2033 Fixed Income 6.00%
2. Wells Fargo & Co 5.08% 26-Apr-2027 Fixed Income 5.65%
3. CITIGROUP INC 5.07% 29-Apr-2028 Fixed Income 5.44%
4. Cards II Trust 2.43% 15-Nov-2027 Fixed Income 5.29%
5. Canada Government 3.00% 01-Jun-2034 Fixed Income 5.27%
6. Suncor Energy Inc 5.40% 17-Nov-2026 Fixed Income 4.14%
7. Glacier Credit Card Trust 2.28% 06-Jun-2024 Cash and Cash Equivalent 4.03%
8. WSP Global Inc 5.55% 22-Nov-2030 Fixed Income 4.03%
9. Granite REIT Holdings LP 3.06% 04-Apr-2027 Fixed Income 3.99%
10. Capital Power Corp 4.28% 18-Jul-2024 Cash and Cash Equivalent 3.72%
11. Reliance LP 3.84% 15-Jan-2025 Cash and Cash Equivalent 3.59%
12. Bank of Nova Scotia 5.50% 08-May-2026 Fixed Income 3.56%
13. Cenovus Energy Inc 3.50% 07-Feb-2028 Fixed Income 3.49%
14. CAE Inc 5.54% 12-May-2028 Fixed Income 3.37%
15. Choice Properties REIT 6.00% 24-Mar-2032 Fixed Income 3.22%

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.