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Alternative Credit Focus

FundGrade E Click for more information on Fundata’s FundGrade

FundGrade E

Click for more information on Fundata’s FundGrade.

NAVPS
(04-15-2024)
$8.95
Change
-$0.05 (-0.51%)

As at March 31, 2024

As at March 31, 2024

Period
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Legend

CI Marret Alternative Absolute Return Bond Fund (Series A units)

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Fund Returns

Inception Return (November 07, 2018): 1.29%

Fund Returns
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 0.55% -0.68% -0.96% -0.86% -0.02% -1.44% -1.46% -0.55% 1.01% - - - - -
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 83 / 120 116 / 120 56 / 119 116 / 120 116 / 116 95 / 102 67 / 75 52 / 52 26 / 33 - - - - -
Quartile Ranking 3 4 2 4 4 4 4 4 4 - - - - -

Monthly Return

Monthly Return
Return % Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Fund 0.40% -1.47% -0.73% -1.12% -0.19% -2.79% -0.96% 4.21% 3.72% -0.68% -0.73% 0.55%
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%

Best Monthly Return Since Inception

4.21% (November 2023)

Worst Monthly Return Since Inception

-3.38% (April 2022)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund - - - - - 4.52% 8.41% 0.45% -9.15% 4.16%
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 - - - - - 4 2 4 4 4
Category Rank - - - - - 18/ 23 15/ 47 61/ 75 76/ 98 104/ 116

Best Calendar Return (Last 10 years)

8.41% (2020)

Worst Calendar Return (Last 10 years)

-9.15% (2022)

Asset Allocation

Asset Allocation
Name Percent
Canadian Government Bonds 42.82
Foreign Corporate Bonds 31.36
Foreign Government Bonds 30.78
Canadian Corporate Bonds 10.20
US Equity 0.46
Other -15.62

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 115.15
Consumer Goods 0.33
Financial Services 0.12
Cash and Cash Equivalent -15.49
Other -0.11

Geographic Allocation

Geographic Allocation
Name Percent
North America 99.87
Europe 0.16
Latin America 0.10
Multi-National -0.13

Top Holdings

Top Holdings
Name Percent
Canada Government 3.25% 01-Dec-2033 14.86
Canada Government 1.50% 01-Jun-2031 8.44
Canada Government 2.75% 01-Jun-2033 8.44
United States Treasury 3.75% 31-Dec-2028 8.36
TransDigm Inc 6.25% 15-Mar-2026 5.06
United States Treasury 4.00% 15-Feb-2034 4.91
United States Treasury 4.50% 15-Nov-2033 4.47
United States Treasury 4.00% 31-Jan-2029 4.18
United States Treasury 4.88% 31-Oct-2028 3.80
Ontario Province 4.15% 02-Dec-2054 3.04

Equity Style

Equity style data not available

Fixed Income Style

Average Duration: M. Average Credit Quality: M.
Period: 

Risk vs Return (3 Yr)

CI Marret Alternative Absolute Return Bond Fund (Series A units)

Median

Other - Alternative Credit Focus

3 Yr Annualized

Standard Deviation 6.46% 5.67% -
Beta 0.91% 0.78% -
Alpha 0.00% 0.01% -
Rsquared 0.87% 0.73% -
Sharpe -0.60% -0.14% -
Sortino -0.89% -0.47% -
Treynor -0.04% -0.01% -
Tax Efficiency - - -
Volatility Volatility rating is 2 on a scale of 1 to 10 Volatility rating is 1 on a scale of 1 to 10 -

Risk Rating

Rating 2 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 7.07% 6.46% 5.67% -
Beta 1.00% 0.91% 0.78% -
Alpha -0.02% 0.00% 0.01% -
Rsquared 0.93% 0.87% 0.73% -
Sharpe -0.64% -0.60% -0.14% -
Sortino -0.65% -0.89% -0.47% -
Treynor -0.05% -0.04% -0.01% -
Tax Efficiency - - - -

Fund Details

Start Date November 07, 2018
Instrument Type Mutual Fund (Alternative)
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $349

Fund Codes

FundServ Code Load Code Sales Status
CIG14163
CIG14164
CIG2191
CIG3191

Investment Objectives

The fund seeks to provide positive absolute returns with low volatility over a market cycle regardless of market conditions or general market direction, by primarily investing in debt instruments across the credit spectrum including cash, government debt, investment grade corporate debt, high yield debt, credit derivatives and other income-producing securities throughout the world. The fund will use leverage.

Investment Strategy

The fund will invest primarily in debt instruments across the credit spectrum including cash, government debt, investment grade corporate debt, convertible bonds, high yield debt, government agency securities, inflation-linked bonds, private debt, credit derivatives and other income-producing securities throughout the world.

Portfolio Manager(s)

Name Start Date
Adrian Prenc 10-30-2018
Adam Tuer 10-30-2018
Paul Sandhu 10-30-2018
CI Global Asset Management 05-05-2022

Management and Organization

Fund Manager CI Global Asset Management
Advisor CI Global Asset Management
Custodian CIBC Mellon Trust Company
Registrar CI Investments Inc
Distributor -
Auditor Ernst & Young LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 25
PAC Subsequent 25
SWP Allowed Yes
SWP Min Balance 5,000
SWP Min Withdrawal 50

Fees

MER 1.87%
Management Fee 1.30%
Load Choice of Front or Back
FE Max 0.00%
DSC Max -
LL Max -
Trailer Fee Max (FE) 0.50%
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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