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Floating Rate Loan
Click for more information on Fundata’s FundGrade
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|
NAVPS (04-30-2024) |
$8.38 |
|---|---|
| Change |
$0.01
(0.06%)
|
As at March 31, 2024
As at February 29, 2024
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Inception Return (November 11, 2013): 2.19%
| Row Heading | Return | Annualized Return | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 Mth | 3 Mth | 6 Mth | YTD | 1 Yr | 2 Yr | 3 Yr | 4 Yr | 5 Yr | 6 Yr | 7 Yr | 8 Yr | 9 Yr | 10 Yr | |
| Fund | -0.80% | 0.41% | 2.38% | 0.41% | 5.43% | 1.60% | 1.22% | 3.32% | 0.95% | 1.47% | 1.54% | 2.09% | 1.81% | 2.12% |
| Benchmark | 0.28% | 3.13% | 7.91% | 3.13% | 11.86% | 10.27% | 5.84% | 8.20% | 4.26% | 3.19% | 4.10% | 4.75% | 4.77% | 4.11% |
| Category Average | 0.44% | 4.48% | 4.48% | 2.04% | 9.05% | 4.11% | 3.29% | 6.38% | 2.78% | 2.73% | 2.93% | 3.64% | 2.85% | 3.05% |
| Category Rank | 78 / 80 | 78 / 80 | 76 / 79 | 78 / 80 | 76 / 79 | 75 / 78 | 75 / 78 | 75 / 78 | 69 / 72 | 67 / 70 | 58 / 61 | 55 / 58 | 54 / 57 | 32 / 35 |
| Quartile Ranking | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Return % | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fund | 0.97% | -0.42% | 1.13% | 0.93% | 0.56% | -0.22% | -0.16% | 1.39% | 0.73% | 0.58% | 0.63% | -0.80% |
| Benchmark | 2.66% | -2.20% | 0.47% | 1.38% | 2.55% | -1.17% | 2.29% | 2.51% | -0.20% | 1.33% | 1.50% | 0.28% |
2.18% (November 2020)
-9.52% (March 2020)
| Return % | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Fund | 3.90% | 0.87% | 6.45% | 2.37% | 0.44% | 6.12% | -0.96% | 2.06% | -4.63% | 6.32% |
| Benchmark | 1.85% | 11.20% | 4.59% | 6.15% | 2.81% | 1.22% | 5.27% | -0.97% | -0.86% | 14.42% |
| Category Average | 3.44% | -0.88% | 8.41% | 4.02% | 0.32% | 6.37% | -0.22% | 4.16% | -4.30% | 9.97% |
| Quartile Ranking | 2 | 2 | 3 | 3 | 3 | 2 | 3 | 4 | 3 | 4 |
| Category Rank | 13/ 31 | 24/ 57 | 43/ 58 | 44/ 61 | 47/ 70 | 32/ 72 | 57/ 78 | 74/ 78 | 47/ 78 | 76/ 79 |
6.45% (2016)
-4.63% (2022)
| Name | Percent |
|---|---|
| Foreign Corporate Bonds | 61.50 |
| Canadian Corporate Bonds | 13.97 |
| Cash and Equivalents | 13.81 |
| Foreign Bonds - Other | 9.37 |
| US Equity | 1.34 |
| Other | 0.01 |
| Name | Percent |
|---|---|
| Fixed Income | 84.87 |
| Cash and Cash Equivalent | 13.81 |
| Consumer Goods | 1.20 |
| Other | 0.12 |
| Name | Percent |
|---|---|
| North America | 75.67 |
| Latin America | 4.33 |
| Europe | 2.69 |
| Other | 17.31 |
| Name | Percent |
|---|---|
| BROOKFIELD CORP 03/28/24 | 4.15 |
| BROOKFIELD CORP 03/11/24 | 1.59 |
| Halo 12.00% 31-Aug-2024 | 1.53 |
| .HALO 12 02/28/25 | 1.49 |
| BMO Short Corporate Bond Index ETF (ZCS) | 1.32 |
| BELRON FINANCE LTD, Term Loan | 1.30 |
| OWENS & MINOR DISTRIBUTION, Term Loan | 1.29 |
| NORTHRIVER MIDSTREAM FIN, Term Loan | 1.26 |
| AMERICAN AIRLINES INC, Term Loan | 1.26 |
| BEACON ROOFING SUPPLY INC, Term Loan | 1.25 |
IA Clarington Floating Rate Income Fund Series A
Median
Other - Floating Rate Loan
| Standard Deviation | 3.30% | 5.35% | 4.06% |
|---|---|---|---|
| Beta | 0.25% | 0.49% | 0.30% |
| Alpha | 0.00% | -0.01% | 0.01% |
| Rsquared | 0.30% | 0.60% | 0.32% |
| Sharpe | -0.41% | -0.16% | 0.20% |
| Sortino | -0.62% | -0.39% | -0.22% |
| Treynor | -0.05% | -0.02% | 0.03% |
| Tax Efficiency | - | - | - |
| Volatility |
|
|
|
| Key Ratio | 1 Yr | 3 Yr | 5 Yr | 10 Yr |
|---|---|---|---|---|
| Standard Deviation | 2.36% | 3.30% | 5.35% | 4.06% |
| Beta | 0.24% | 0.25% | 0.49% | 0.30% |
| Alpha | 0.03% | 0.00% | -0.01% | 0.01% |
| Rsquared | 0.30% | 0.30% | 0.60% | 0.32% |
| Sharpe | 0.25% | -0.41% | -0.16% | 0.20% |
| Sortino | 1.67% | -0.62% | -0.39% | -0.22% |
| Treynor | 0.02% | -0.05% | -0.02% | 0.03% |
| Tax Efficiency | 36.79% | - | - | - |
| Start Date | November 11, 2013 |
|---|---|
| Instrument Type | Mutual Fund |
| Share Class | Commission Based Advice |
| Legal Status | Trust |
| Sales Status | Open |
| Currency | CAD |
| Distribution Frequency | Monthly |
| Assets ($mil) | $627 |
| FundServ Code | Load Code | Sales Status |
|---|---|---|
| CCM9940 | ||
| CCM9941 | ||
| CCM9942 |
The Fund’s objective is to provide unitholders with a stream of current monthly income by investing primarily in senior floating rate loans, other floating rate securities and debt obligations of investment grade and noninvestment grade North American and global corporate issuers. The fundamental investment objective may only be changed with the approval of a majority of Securityholders at a meeting called for that purpose.
The Fund: will invest in floating rate debt instruments that pay interest, at a margin or spread above a reference base lending rate (often the London Interbank Offered Rate or LIBOR or some other benchmark rate), resulting in higher payments to investors as the benchmark interest rate increases (and lower payments if the benchmark rate decreases).
| Name | Start Date |
|---|---|
| Industrial Alliance Investment Management Inc. | 07-23-2019 |
| Amar Dhanoya | 12-07-2020 |
| Jeff Sujitno | 12-07-2020 |
| Fund Manager | IA Clarington Investments Inc. |
|---|---|
| Advisor | Industrial Alliance Investment Management Inc. |
| Custodian | CIBC Mellon Trust Company |
| Registrar | IA Clarington Investments Inc. |
| Distributor | - |
| Auditor | PriceWaterhouseCoopers LLP |
| RSP Eligible | Yes |
|---|---|
| PAC Allowed | Yes |
| PAC Initial Investment | 50 |
| PAC Subsequent | 50 |
| SWP Allowed | Yes |
| SWP Min Balance | 0 |
| SWP Min Withdrawal | 100 |
| MER | 1.85% |
|---|---|
| Management Fee | 1.45% |
| Load | Choice of Front or No Load |
| FE Max | 5.00% |
| DSC Max | - |
| Trailer Fee Max (FE) | 0.60% |
| Trailer Fee Max (DSC) | 0.60% |
| Trailer Fee Max (NL) | - |
| Trailer Fee Max (LL) | - |
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