CI Marret Alternative Enhanced Yield Fund

TSX TICKER : CMEY
 

Fund overview

The Fund seeks to provide income with low volatility over a market cycle regardless of market conditions or general market direction, by primarily investing in both debt instruments across the credit spectrum and cash/cash equivalents. The Fund’s active management seeks to provide income while targeting low correlation to equity and traditional income.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 laws, or any exemptions therefrom.

Fund details

description of elementelement value
Inception date May 2020
Total net assets ($CAD)
As at 2024-12-03
$5.1 million
NAVPS
As at 2024-12-03
$19.7680
MER (%)
As at 2024-06-30
1.42
MER (%)
(Excluding performance fee)
As at 2024-06-30
1.42
Management fee (%) 0.80
Units outstanding
As at 2024-12-03
260,000
Asset class Alternative Credit Focused
Currency CAD
CUSIP 12560F103
Distribution frequency Monthly
Last distribution $0.0720
Average Duration (ex-CDX) 1.80
Yield to Maturity % 5.83

Risk rating1

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

Performance2 As at 2024-11-30

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*
4.66% 0.25% 1.63% 4.24% 9.25% 2.37% - - 2.95%
*Since inception date

Distribution history3

Ex-Date Total
2024-11-25 0.0720
2024-10-25 0.0720
2024-09-23 0.0720
2024-08-26 0.0720
2024-07-25 0.0720
Ex-Date Total
2024-06-24 0.0720
2024-05-23 0.0720
2024-04-23 0.0720
2024-03-21 0.0720
2024-02-22 0.0720

Investor suitability

For those who:
  • want a diversified fixed income portfolio that aims to generate consistent income with low volatility over a credit cycle
  • 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 % * 5.34
Average Duration (ex-CDX) 1.80
Cash and Equivalents % -0.87
Current Yield %* 5.37
Years to Maturity 2.53
Yield to Maturity % 5.83

*Corporate and Government bonds only.

RATING SUMMARY (%)*

AAA 16.83
AA 0.55
A 1.73
BBB 12.64
BB 35.87
B 25.94
D 0.00
NR 2.25

*Corporate and Government bonds only.

CI Marret Alternative Enhanced Yield Fund

TSX TICKER : CMEY
 
Portfolio allocations4 As at 2024-10-31
Asset allocation (%)
  • Cash and Equivalents 42.76
  • Foreign Corporate Bonds 25.62
  • Canadian Corporate Bonds 15.52
  • Foreign Government Bonds 10.43
  • Canadian Government Bonds 5.49
  • Canadian Equity 0.33
  • Derivatives -0.06
  • Other -0.09
Sector allocation (%)
  • Fixed Income 57.06
  • Cash and Cash Equivalent 42.76
  • Consumer Goods 0.33
  • Other -0.15
Geographic allocation(%)
  • United States 65.76
  • Canada 34.14
  • Bermuda 0.10
  • Australia 0.05
  • Chile 0.04
  • Other -0.09
Top holdings
Sector (%)
1. United States Treasury 3.50% 30-Sep-2029 Fixed Income 6.20%
2. Southwestern Energy Co 5.70% 29-Nov-2024 Cash and Cash Equivalent 3.10%
3. United States Treasury 3.88% 15-Aug-2034 Fixed Income 2.58%
4. Ontario Province 4.15% 02-Dec-2054 Fixed Income 2.52%
5. NOVA Chemicals Corp 5.00% 01-May-2025 Cash and Cash Equivalent 2.42%
6. United States Treasury 3.50% 30-Sep-2026 Fixed Income 2.38%
7. VICI Properties LP 3.50% 29-Nov-2024 Cash and Cash Equivalent 2.25%
8. Kruger Packaging Holdings LP 6.00% 01-Jun-2026 Fixed Income 2.23%
9. Air Canada 3.88% 15-Aug-2026 Fixed Income 2.05%
10. Six Flags Theme Parks Inc 7.00% 01-Jul-2025 Cash and Cash Equivalent 2.03%
11. American Airlines Group Inc 3.75% 01-Mar-2025 Cash and Cash Equivalent 2.01%
12. Vermilion Energy Inc 5.63% 15-Mar-2025 Cash and Cash Equivalent 1.99%
13. Goldman Sachs Group Inc 3.31% 31-Oct-2024 Cash and Cash Equivalent 1.97%
14. CITGO Petroleum Corp 7.00% 15-Jun-2025 Cash and Cash Equivalent 1.75%
15. UNITED STATES TREASURY NOTE/BOND 4.00% 31-Oct-2029 Fixed Income 1.69%

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
Craig Wilson
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.