CRED

CI Alternative Investment Grade Credit Fund

NAVPS ($) *

19.7837

Market Price ($) *

19.7700

Management fee (%)

0.80

MER (%)

As at 2023-12-31

1.71

Risk rating

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

Ticker

CRED

Units outstanding *

18,080,000

CUSIP

17164R106

MER (%)

(Excluding performance fee)
As at 2023-12-31

1.71

Total net assets ($CAD) *

$357.68 million

Last distribution

$0.0500 per unit

RRSP

Eligible

Inception date

2020-01-23

* As at 2024-07-12

Commissions, management fees and expenses all may be associated with an investment in exchange-traded funds (ETFs). You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. Please read the prospectus before investing. Important information about an exchange-traded fund is contained in its prospectus. 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. ETFs are not guaranteed; their values change frequently, and past performance may not be repeated.

This mutual fund is an alternative fund. It has the ability to invest in asset classes or use investment strategies that are not permitted for conventional mutual funds. The specific strategies that differentiate this fund from conventional mutual funds include increased use of derivatives for hedging and non-hedging purposes; increased ability to sell securities short; and the ability to borrow cash to use for investment purposes. While these strategies will be used in accordance with the fund’s investment objectives and strategies, during certain market conditions they may accelerate the pace at which your investment decreases in value.

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.

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.

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.

This information on this document is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or an offer or a solicitation to buy or sell securities.  Every effort has been made to ensure that the material contained herein is accurate at the time of publication. Market conditions may change which may impact the information contained in this document.  

For major events that may affect the performance of a fund in the last 10 years, including its participation in an amalgamation or merger with another fund or a change in its investment objectives or portfolio advisor, please refer to the “Name, Formation and History of the Fund” section in the fund's most recently filed simplified prospectus.

Each CI ETF does not have a fixed distribution/dividend amount. The amount of ordinary cash distributions/dividends, if any, will be based on CI’s assessment of anticipated cash flow and anticipated expenses of a CI ETF from time to time. Depending on the underlying investments of a trust fund, distributions on units may consist of ordinary income, including foreign source income and taxable dividends from taxable Canadian corporations, interest or distributions received by the trust fund but may also include net realized capital gains, in any case, less the expenses of that trust fund and may include returns of capital. To the extent that the expenses of a trust fund exceed the income generated by such trust fund in any applicable distribution period, it is not expected that a distribution for that period will be paid. The sources of income of the classes of shares of CI First Asset Fund Corp. are expected to include taxable capital gains as well as dividends from taxable Canadian corporations. However, to the extent that CI First Asset Fund Corp. earns net income, after expenses and other deductions (including any available loss carryforwards to the extent deductible), from other sources, including dividends and other income from non-Canadian sources and interest income, CI First Asset Fund Corp. will generally be subject to income tax on such income and no refund of such tax will be available. Distributions of a return of capital may also be made in respect of a class of shares of CI First Asset Fund Corp. A return of capital is not directly subject to tax but will reduce the adjusted cost base of the shares. Given the investment and distribution policies of CI First Asset Fund Corp. and taking into account the deduction of expenses, any applicable loss carryforwards and taxable dividends on shares of taxable Canadian corporations, CI does not expect that the CI First Asset Fund Corp. will be subject to appreciable amounts of non-refundable Canadian income tax. Please refer to the funds simplified prospectus for further information.

The CI Exchange-Traded Funds (ETFs) are managed by CI Global Asset Management, a subsidiary of CI Financial Corp. (TSX: CIX). CI Global Asset Management is a registered business name of CI Investments Inc.

CI Alternative Investment Grade Credit ETF merged into CI Alternative Investment Grade Credit Fund effective Jan 15, 2021. The performance shown includes the historical performance information since inception of the corresponding series of CI Alternative Investment Grade Credit ETF. Had this historical performance information not been included, the performance of the ETF series of CI Alternative Investment Grade Credit Fund could have been different. Please refer to the disclosure documents of the CI Alternative Investment Grade Credit Fund for more information.