CI Enhanced Short Duration Bond Fund

TSX TICKER : FSB
 

Fund overview

The Fund seeks to provide absolute returns through interest income and capital gains and its risk objective is to have very low volatility and positive returns over any twelve-month period. The Fund will primarily invest in debt instruments across the credit spectrum including cash, government debt, investment-grade corporate debt, high-yield corporate debt, government debt futures, convertible debentures and credit derivatives. The Fund’s strategy will primarily focus on U.S. and Canadian corporate bonds and will include the use of government bond futures to manage the duration of the fund according to the volatility objectives. To minimize interest rate volatility, the Fund would typically target an overall portfolio duration of less than 2 years.

Fund details

description of elementelement value
Inception date September 2017
Total net assets ($CAD)
As at 2024-05-29
$595.1 million
NAVPS
As at 2024-05-29
$9.5341
MER (%)
As at 2023-12-31
0.74
Management fee (%) 0.60
Units outstanding
As at 2024-05-29
62,427,700
Asset class Global Fixed Income
Currency CAD
CUSIP 12559E109
Distribution frequency Monthly
Last distribution $0.0320
Average Duration (ex-CDX) 1.69
Yield to Maturity % 5.31

Risk rating1

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

Investor suitability

For those who:
  • want short-term bond exposure to minimize interest rate risk
  • are primarily concerned with volatility reduction and income generation
  • want to receive regular monthly cash flows (if any)
  • can tolerate low risk

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*
0.56% -0.15% 0.37% 3.04% 3.24% 1.41% 2.00% - 2.03%
*Since inception date

Distribution history3

Payable date Total
2024-05-23 0.0320
2024-04-23 0.0320
2024-03-21 0.0320
2024-02-22 0.0320
2024-01-24 0.0320
Payable date Total
2023-12-20 0.0320
2023-11-23 0.0320
2023-10-24 0.0320
2023-09-22 0.0320
2023-08-24 0.0320

FUND CHARACTERISTICS

Average Coupon % * 3.93
Average Duration (ex-CDX) 1.69
Cash and Equivalents % 3.85
Current Yield %* 4.02
Years to Maturity 2.13
Yield to Maturity % 5.31

*Corporate and Government bonds only.

RATING SUMMARY (%)*

AAA 46.43
AA 0.21
A 6.30
BBB 19.35
BB 18.77
B 7.29
D 0.00
NR 0.97

*Corporate and Government bonds only.

CI Enhanced Short Duration Bond Fund

TSX TICKER : FSB
 
Portfolio allocations4 As at 2024-04-30
Asset allocation (%)
  • Cash and Equivalents 39.05
  • Canadian Government Bonds 23.94
  • Foreign Corporate Bonds 17.55
  • Foreign Government Bonds 11.95
  • Canadian Corporate Bonds 7.28
  • Canadian Equity 0.16
  • Other 0.10
  • Derivatives -0.03
Sector allocation (%)
  • Fixed Income 60.72
  • Cash and Cash Equivalent 39.05
  • Consumer Goods 0.16
  • Other 0.07
Geographic allocation(%)
  • Canada 57.61
  • United States 42.22
  • Other 0.10
  • Bermuda 0.07
Top holdings
Sector (%)
1. Canada Government 3.00% 01-Nov-2024 Cash and Cash Equivalent 8.86%
2. Canada Government 3.25% 01-Sep-2028 Fixed Income 4.99%
3. Canada Government 4.50% 01-Nov-2025 Fixed Income 4.13%
4. Canada Government 3.50% 01-Mar-2028 Fixed Income 3.11%
5. United States Treasury 3.50% 31-Jan-2028 Fixed Income 1.93%
6. SNC-Lavalin Group Inc 3.80% 19-Aug-2024 Cash and Cash Equivalent 1.90%
7. Southwestern Energy Co 5.70% 23-Jan-2025 Fixed Income 1.86%
8. Canada Government 3.00% 01-Oct-2025 Fixed Income 1.73%
9. United States Treasury 4.00% 30-Jun-2028 Fixed Income 1.65%
10. UNITED STATES TREASURY NOTE/BOND 4.12% 31-Mar-2031 Fixed Income 1.61%
11. Canada Government 3.75% 01-May-2025 Fixed Income 1.56%
12. United States Treasury 4.38% 15-Aug-2026 Fixed Income 1.53%
13. United States Treasury 4.88% 31-Oct-2028 Fixed Income 1.48%
14. Canada Government 3.00% 01-Jun-2034 Fixed Income 1.44%
15. Freeport-McMoRan Inc 4.55% 14-Aug-2024 Cash and Cash Equivalent 1.31%

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.
Adrian Prenc
Adam Tuer
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.