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.
|Inception date||June 2017|
Total net assets ($CAD)
As at 2023-08-31
As at 2023-10-02
As at 2023-03-31
|Management fee (%)||0.35|
|Asset class||Floating Rate Loan|
|Minimum investment||$500 initial/$25 additional|
|YTD||1 Mo||3 Mo||6 Mo||1 Y||3 Y||5 Y||10 Y||Inception*|
|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. SCIENTIFIC GAMES TLB 0.00% 14-Apr-2029||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. ENBRIDGE/GRIZZLY ACQUISITIONS 8/23 COV-LITE TL 0.00%
|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%|
1 The risk level of a fund has been determined in accordance with a standardized risk classification methodology in National Instrument 81-102, that is based on the fund’s historical volatility as measured by the 10-year standard deviation of the fund’s returns. Where a fund has offered securities to the public for less than 10 years, the standardized methodology requires that the standard deviation of a reference mutual fund or index that reasonably approximates the fund’s standard deviation be used to determine the fund’s risk rating. Please note that historical performance may not be indicative of future returns and a fund’s historical volatility may not be indicative of future volatility.
2 Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns net of fees and expenses payable by the fund (except for figures of one year or less, which are simple total returns) including changes in security value and reinvestment of all dividends/distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.
3 Please refer to the fund’s simplified prospectus for distribution information.
4 Portfolio allocations will fluctuate over the life of the mutual fund as the portfolio holdings and market value of each security changes. The portfolio manager(s) may change the portfolio allocations in some or all of the sectors.
The contents are not to be used or construed as investment advice or as an endorsement or recommendation of any entity of security discussed.
Certain statements contained in this communication are based in whole or in part on information provided by third parties and CI has taken reasonable steps to ensure their accuracy.
The rates of return are used only to illustrate the effects of the compound growth rate and are not intended to reflect future values or returns on investment in an investment fund.
The “Growth of $10,000 invested” chart shows the final value of a hypothetical $10,000 investment in securities in this class/series of the fund as at the end of the investment period indicated and is not intended to reflect future values or returns on investment in such securities.
Management Expense Ratio (“MER”) represents the trailing 12-month management expense ratio, which reflects the cost of running the fund, inclusive of applicable taxes including HST, GST and QST (excluding commissions and other portfolio transaction costs) as a percentage of daily average net asset value the period, including the fund’s proportionate share of any underlying fund(s) expenses, if applicable. The MER is reported in each fund’s Management Report of Fund Performance (“MRFP”). MRFPs can be found within the Documents tab on ci.com.
CI Global Asset Management is a registered business name of CI Investments Inc. ©CI Investments Inc. 2023. All rights reserved.
Published October 2023