CI Alternative Investment Grade Credit Fund

TSX TICKER : CRED
 

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 January 2020
Total net assets ($CAD)
As at 2023-09-22
$272.4 million
NAVPS
As at 2023-09-22
$18.8164
MER (%)
As at 2022-12-31
1.31
MER (%)
(Excluding performance fee)
As at 2022-12-31
1.31
Management fee (%) 0.80
Units outstanding
As at 2023-09-22
14,480,000
Asset class Alternative Credit Focused
Currency CAD
CUSIP 17164R106
Distribution frequency Monthly
Last distribution $0.0500

Risk rating1

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

Investor suitability

For those who:
  • are seeking income and long-term capital appreciation
  • are seeking to reduce sensitivity to interest rate fluctuations
  • are seeking exposure to global investment grade credit and active credit trading strategies
  • are seeking consistent returns over the market cycle
  • 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 2023-08-31

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*
3.16% 0.17% 1.35% 1.78% 3.33% 1.48% - - 1.46%
*Since inception date

Distribution history3

Payable date Total
2023-09-22 0.0500
2023-08-24 0.0500
2023-07-24 0.0500
2023-06-23 0.0500
2023-05-24 0.0500
Payable date Total
2023-04-21 0.0500
2023-03-24 0.0500
2023-02-21 0.0500
2023-01-24 0.0500
2022-12-21 0.0500

CI Alternative Investment Grade Credit Fund

TSX TICKER : CRED
 
Portfolio allocations4 As at 2023-08-31
Asset allocation (%)
  • Canadian Corporate Bonds 97.81
  • Cash and Equivalents 39.29
  • Foreign Corporate Bonds 17.22
  • Canadian Bonds - Other 4.47
  • Mortgages 1.56
  • Canadian Equity 0.60
  • Other 0.08
  • Derivatives -0.14
  • Foreign Government Bonds -15.77
  • Canadian Government Bonds -45.12
Sector allocation (%)
  • Fixed Income 60.18
  • Cash and Cash Equivalent 39.29
  • Financial Services 0.32
  • Energy 0.11
  • Utilities 0.08
  • Telecommunications 0.07
  • Exchange Traded Fund 0.06
  • Consumer Services 0.01
  • Other -0.12
Geographic allocation(%)
  • Canada 106.94
  • Multi-National 4.35
  • United Kingdom 1.78
  • Other 0.03
  • France -0.01
  • United States -13.09
Top holdings
Sector (%)
1. Canada Government 2.00% 01-Sep-2023 Cash and Cash Equivalent 7.67%
2. Glacier Credit Card Trust 3.14% 20-Sep-2023 Cash and Cash Equivalent 4.60%
3. Canada Government 2.50% 01-Jun-2024 Cash and Cash Equivalent 4.54%
4. Canada Government 0.25% 01-Apr-2024 Cash and Cash Equivalent 3.99%
5. Mondelez International Inc 3.25% 07-Mar-2025 Fixed Income 3.86%
6. United States Treasury 4.13% 31-Jul-2028 Fixed Income 3.69%
7. Canada Government 2.25% 01-Mar-2024 Cash and Cash Equivalent 3.29%
8. Empire Life Insurance Co 5.50% 13-Jan-2033 Fixed Income 3.06%
9. Bank of Nova Scotia 5.50% 29-Dec-2025 Fixed Income 2.61%
10. Morgan Stanley 3.00% 07-Feb-2024 Cash and Cash Equivalent 2.58%
11. Gibson Energy Inc 3.60% 17-Sep-2029 Fixed Income 2.57%
12. Altagas Ltd 1.23% 18-Mar-2024 Cash and Cash Equivalent 2.56%
13. Inter Pipeline Ltd 4.23% 01-Jun-2027 Fixed Income 2.50%
14. Transcontinental Inc 2.28% 13-Jul-2026 Fixed Income 2.49%
15. United States Treasury 4.00% 30-Jun-2028 Fixed Income 2.42%

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.