CI Floating Rate Income Fund

TSX TICKER : CFRT
 

Fund overview

The fund’s objective is to generate income by investing in floating rate debt instruments of issuers located anywhere in the world. The fund will also purchase fixed-income debt instruments and money market securities of domestic and foreign issuers.

Fund details

description of elementelement value
Inception date April 2022
Total net assets ($CAD)
As at 2023-09-29
$3.0 million
NAVPS
As at 2023-09-29
$20.1425
MER (%)
As at 2023-03-31
0.59
Management fee (%) 0.35
Units outstanding
As at 2023-09-29
150,000
Asset class Floating Rate Loan
Currency CAD
CUSIP 17163R107
Distribution frequency Monthly
Last distribution $0.1356
Average Credit Rating BB

Risk rating1

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

Investor suitability

For those who:
  • want to receive income
  • are investing for the medium term
  • can tolerate low to medium risk

Performance2 As at 2023-09-30

Growth of $10,000 (Since inception date)

growth of 10k graph

average annual compound returns

YTD 1 Mo 3 Mo 6 Mo 1 Y 3 Y 5 Y 10 Y Inception*
6.14% 1.04% 3.10% 3.03% 7.97% - - - 5.14%
*Since inception date

Distribution history3

Payable date Total
2023-09-22 0.1356
2023-08-24 0.1162
2023-07-24 0.1225
2023-06-23 0.0991
2023-05-24 0.0986
Payable date Total
2023-04-21 0.1170
2023-03-24 0.0861
2023-02-21 0.0831
2023-01-24 0.0747
2022-12-21 0.0600

FUND CHARACTERISTICS

Duration 0.25
Yield 8.96

RATING SUMMARY (%)

AA 0.30
BBB 29.19
BB 37.96
B 28.43
NR 0.75
Average Credit Rating BB

*Corporate and Government bonds only.

CI Floating Rate Income Fund

TSX TICKER : CFRT
 
Portfolio allocations4 As at 2023-08-31
Asset allocation (%)
  • Foreign Corporate Bonds 86.66
  • Cash and Equivalents 7.01
  • Canadian Equity 3.29
  • US Equity 2.73
  • Canadian Corporate Bonds 0.29
  • Other 0.02
Sector allocation (%)
  • Fixed Income 86.95
  • Cash and Cash Equivalent 7.01
  • Financial Services 3.64
  • Telecommunications 1.69
  • Energy 0.69
  • Other 0.02
Geographic allocation(%)
  • United States 89.23
  • Canada 10.74
  • Other 0.02
  • United Kingdom 0.01
Top holdings
Sector (%)
1. BLACKSTONE CQP 5/21 TLB 0.00% 27-May-2028 Fixed Income 3.70%
2. AIR CANADA 7/21 TLB 0.00% 27-Jul-2028 Fixed Income 3.05%
3. AAdvantage Loyalty IP Ltd 5.50% 15-Mar-2028 Fixed Income 2.91%
4. CASTLELAKE AVIAT 9/21 TLB 0.00% 22-Oct-2026 Fixed Income 2.77%
5. Charter Communications Inc 24-Jan-2027 Fixed Income 2.67%
6. Spirit IP Cayman Ltd 8.00% 20-Sep-2025 Fixed Income 2.51%
7. Everest Reinsurance Hldgs Inc 8.01% 01-May-2067 Fixed Income 2.51%
8. ENBRIDGE/GRIZZLY ACQUISITIONS 8/23 COV-LITE TL 0.00%
10-Aug-2030
Fixed Income 2.37%
9. SETANTA AIRCRAF 11/21 TLB 0.00% 05-Nov-2028 Fixed Income 2.37%
10. JPMorgan Chase & Co - Pfd Sr Q Banking 2.37%
11. SCIENTIFIC GAMES TLB 0.00% 14-Apr-2029 Fixed Income 2.37%
12. ENTAIN/GVC HOLDINGS 10/22 COV-LITE TLB 0.00% 31-Oct-2029 Fixed Income 2.36%
13. MEDLINE INDUSTRI 9/21 TLB 0.00% 30-Sep-2028 Fixed Income 2.34%
14. CARNIVAL 10/21 TLB 0.00% 08-Oct-2028 Fixed Income 2.33%
15. Genworth Financial Inc 7.63% 15-Nov-2066 Fixed Income 2.31%

Management team

First we'll display the Team Company and then the Team members
Geof Marshall
Darren Arrowsmith
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.