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Alternative Credit Focus
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|
NAVPS (04-30-2024) |
$8.27 |
|---|---|
| Change |
-$0.01
(-0.06%)
|
As at March 31, 2024
As at January 31, 2024
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Inception Return (February 26, 2019): -0.15%
| 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 | 0.66% | 0.69% | 6.26% | 0.69% | 2.58% | -0.91% | -2.96% | -0.29% | -0.34% | - | - | - | - | - |
| Benchmark | 0.48% | -1.28% | 6.84% | -1.28% | 1.93% | -0.14% | -1.50% | -0.83% | 0.22% | 1.02% | 1.12% | 1.15% | 1.09% | 2.01% |
| Category Average | 0.82% | 6.16% | 6.16% | 1.92% | 6.88% | 3.42% | 2.11% | 5.50% | - | - | - | - | - | - |
| Category Rank | 63 / 120 | 102 / 120 | 50 / 119 | 102 / 120 | 103 / 116 | 94 / 102 | 75 / 75 | 51 / 52 | 33 / 33 | - | - | - | - | - |
| Quartile Ranking | 3 | 4 | 2 | 4 | 4 | 4 | 4 | 4 | 4 | - | - | - | - | - |
| Return % | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fund | -0.23% | -1.57% | -0.38% | 0.27% | -0.01% | -1.56% | -1.05% | 3.80% | 2.74% | 0.37% | -0.34% | 0.66% |
| Benchmark | 0.90% | -1.62% | -0.04% | -1.08% | -0.19% | -2.62% | 0.43% | 4.21% | 3.42% | -1.36% | -0.40% | 0.48% |
3.80% (November 2023)
-3.78% (September 2022)
| Return % | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Fund | - | - | - | - | - | - | 7.07% | -1.30% | -11.49% | 3.55% |
| Benchmark | 9.10% | 3.57% | 1.54% | 2.70% | 1.29% | 6.97% | 8.61% | -2.71% | -11.46% | 6.38% |
| Category Average | - | - | - | - | - | - | 7.20% | 3.25% | -4.07% | 7.22% |
| Quartile Ranking | - | - | - | - | - | - | 3 | 4 | 4 | 4 |
| Category Rank | - | - | - | - | - | - | 25/ 47 | 73/ 75 | 87/ 98 | 112/ 116 |
7.07% (2020)
-11.49% (2022)
| Name | Percent |
|---|---|
| Foreign Corporate Bonds | 41.16 |
| Cash and Equivalents | 31.14 |
| Canadian Corporate Bonds | 23.36 |
| Foreign Bonds - Other | 2.64 |
| Foreign Government Bonds | 0.91 |
| Other | 0.79 |
| Name | Percent |
|---|---|
| Fixed Income | 67.38 |
| Cash and Cash Equivalent | 31.13 |
| Consumer Services | 0.76 |
| Consumer Goods | 0.33 |
| Utilities | 0.27 |
| Other | 0.13 |
| Name | Percent |
|---|---|
| North America | 97.46 |
| Europe | 1.64 |
| Latin America | 0.89 |
| Asia | -0.07 |
| Other | 0.08 |
| Name | Percent |
|---|---|
| Cash and Cash Equivalents | 26.30 |
| Northleaf Private Credit II LP MI 15 | 1.99 |
| Enbridge Inc 5.38% 27-Sep-2027 | 1.98 |
| Toronto-Dominion Bank 5.65% 31-Jan-2025 | 1.69 |
| Morgan Stanley 3.00% 07-Feb-2024 | 1.50 |
| Gray Escrow II Inc 5.38% 15-Nov-2031 | 1.48 |
| Inter Pipeline Ltd 6.63% 19-Nov-2079 | 1.08 |
| United States Treasury 0.50% 15-Apr-2024 | 1.07 |
| Secure Energy Services Inc 7.25% 30-Dec-2026 | 1.01 |
| Pembina Pipeline Corp 4.80% 25-Jan-2081 | 1.01 |
Mackenzie Credit Absolute Return Fund Series A
Median
Other - Alternative Credit Focus
| Standard Deviation | 5.46% | 5.04% | - |
|---|---|---|---|
| Beta | 0.63% | 0.56% | - |
| Alpha | -0.02% | 0.00% | - |
| Rsquared | 0.59% | 0.48% | - |
| Sharpe | -1.00% | -0.43% | - |
| Sortino | -1.27% | -0.83% | - |
| Treynor | -0.09% | -0.04% | - |
| Tax Efficiency | - | - | - |
| Volatility |
|
|
- |
| Key Ratio | 1 Yr | 3 Yr | 5 Yr | 10 Yr |
|---|---|---|---|---|
| Standard Deviation | 5.56% | 5.46% | 5.04% | - |
| Beta | 0.71% | 0.63% | 0.56% | - |
| Alpha | 0.01% | -0.02% | 0.00% | - |
| Rsquared | 0.77% | 0.59% | 0.48% | - |
| Sharpe | -0.37% | -1.00% | -0.43% | - |
| Sortino | -0.10% | -1.27% | -0.83% | - |
| Treynor | -0.03% | -0.09% | -0.04% | - |
| Tax Efficiency | 67.13% | - | - | - |
| Start Date | February 26, 2019 |
|---|---|
| Instrument Type | Mutual Fund (Alternative) |
| Share Class | Commission Based Advice |
| Legal Status | Trust |
| Sales Status | Open |
| Currency | CAD |
| Distribution Frequency | Quarterly |
| Assets ($mil) | $96 |
| FundServ Code | Load Code | Sales Status |
|---|---|---|
| MFC5960 |
The Fund seeks to provide a positive total return over a market cycle, regardless of general market direction, by investing long and short positions in corporate and government fixed-income securities and instruments of issuers anywhere in the world. The Fund may engage in physical short sales, borrowing and/or derivatives for investment purposes. The Fund’s aggregate exposure shall not exceed limits on the use of gross exposure or as otherwise permitted under applicable securities legislation.
The Credit Absolute Return Strategy is a global, flexible, actively managed approach which seeks to add value through investments across multiple geographic sectors, and parts of the corporate capital structure. It may use a variety of fundamentally driven and systematically driven investment strategies. The investment strategies include both long and short positioning in a variety of corporate and government credit instruments.
| Name | Start Date |
|---|---|
| Movin Mokbel | 02-20-2020 |
| Felix Wong | 02-20-2020 |
| Dan Cooper | 02-20-2020 |
| Konstantin Boehmer | 02-20-2020 |
| Steve Locke | 02-20-2020 |
| Fund Manager | Mackenzie Financial Corporation |
|---|---|
| Advisor | Mackenzie Financial Corporation |
| Custodian | Canadian Imperial Bank of Commerce |
| Registrar | Mackenzie Financial Corporation |
| Distributor | - |
| Auditor | Deloitte LLP |
| RSP Eligible | Yes |
|---|---|
| PAC Allowed | Yes |
| PAC Initial Investment | 50 |
| PAC Subsequent | 50 |
| SWP Allowed | Yes |
| SWP Min Balance | 5,000 |
| SWP Min Withdrawal | 100 |
| MER | 1.75% |
|---|---|
| Management Fee | 1.35% |
| Load | Back Fee Only |
| FE Max | 5.00% |
| DSC Max | - |
| Trailer Fee Max (FE) | 0.50% |
| Trailer Fee Max (DSC) | - |
| Trailer Fee Max (NL) | - |
| Trailer Fee Max (LL) | - |
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