CI Marret Alternative Absolute Return Bond Fund

TSX TICKER : CMAR.U
 

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 January 2020
Total net assets ($CAD)
As at 2023-03-30
$2.3 million
NAVPS
As at 2023-03-30
$18.6595
MER (%)
As at 2022-06-30
1.01
MER (%)
(Excluding performance fee)
As at 2022-06-30
1.01
Management fee (%) 0.80
Units outstanding
As at 2023-03-30
125,000
Asset class Alternative Credit Focused
Currency USD
CUSIP 12560B201
Distribution frequency Monthly
Last distribution $0.0670
Average Duration (ex-CDX) 6.53
Yield to Maturity % 4.90

Risk rating1

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

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

Performance2 As at 2023-02-28

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*
0.78% -1.98% 0.18% -0.27% -6.07% -0.60% - - 0.14%
*Since inception date

Distribution history3

Payable date Total
2023-03-24 0.0670
2023-02-21 0.0670
2023-01-24 0.0670
2022-12-21 0.0670
2022-11-23 0.0670
Payable date Total
2022-10-24 0.0500
2022-09-22 0.0500
2022-08-24 0.0500
2022-07-22 0.0500
2022-06-23 0.0500

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.
Paul Sandhu
Adam Tuer
Adrian Prenc

CI Marret Alternative Absolute Return Bond Fund

TSX TICKER : CMAR.U
 
Portfolio allocations4 As at 2023-02-28
Asset allocation (%)
  • Foreign Government Bonds 55.21
  • Canadian Government Bonds 22.20
  • Canadian Corporate Bonds 16.38
  • Foreign Corporate Bonds 15.90
  • Derivatives -0.03
  • International Equity -0.04
  • Canadian Equity -0.05
  • US Equity -1.90
  • Other -7.67
Sector allocation (%)
  • Fixed Income 99.99
  • Consumer Services 0.21
  • Telecommunications 0.14
  • Energy 0.08
  • Basic Materials -0.01
  • Utilities -0.05
  • Real Estate -0.06
  • Other -10.00
Geographic allocation(%)
  • United States 65.15
  • Canada 33.61
  • Multi-National 1.15
  • Netherlands 0.08
  • Bermuda 0.07
  • Europe 0.06
  • Brazil 0.06
  • Luxembourg 0.05
  • Other -0.23
Top holdings
Sector (%)
1. United States Treasury 4.13% 15-Nov-2032 Fixed Income 7.19%
2. Canada Government 1.50% 01-Dec-2031 Fixed Income 6.29%
3. United States Treasury 1.88% 15-Feb-2032 Fixed Income 6.08%
4. Canada Government 1.50% 01-Jun-2031 Fixed Income 5.91%
5. United States Treasury 3.50% 31-Jan-2028 Fixed Income 3.69%
6. United States Treasury 1.38% 15-Nov-2031 Fixed Income 3.25%
7. Canada Government 2.50% 01-Dec-2032 Fixed Income 3.22%
8. United States Treasury 4.38% 31-Oct-2024 Fixed Income 3.04%
9. United States Treasury 3.88% 31-Dec-2027 Fixed Income 2.43%
10. United States Treasury 3.50% 15-Feb-2033 Fixed Income 2.40%
11. United States Treasury 4.00% 15-Nov-2052 Fixed Income 2.38%
12. Canada Government 0.50% 01-Dec-2030 Fixed Income 2.36%
13. United States Treasury 4.13% 30-Sep-2027 Fixed Income 2.35%
14. Canada Government 2.00% 01-Dec-2051 Fixed Income 2.28%
15. United States Treasury 2.75% 15-Aug-2032 Fixed Income 2.16%
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.