Join Fund Library now and get free access to personalized features to help you manage your investments.

Mackenzie Credit Absolute Return Fund Series A

Alternative Credit Focus

FundGrade E Click for more information on Fundata’s FundGrade

FundGrade E

Click for more information on Fundata’s FundGrade.

NAVPS
(07-18-2024)
$8.42
Change
$0.00 (-0.04%)

As at June 30, 2024

As at April 30, 2024

Period
Loading...

Legend

Mackenzie Credit Absolute Return Fund Series A

Compare Options


Fund Returns

Inception Return (February 26, 2019): -0.08%

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 0.37% 0.33% 1.02% 1.02% 5.21% 1.48% -3.26% -1.25% -0.36% - - - - -
Benchmark 2.98% 0.97% -0.32% -0.32% 3.73% 3.25% -1.77% -1.98% -0.10% 1.11% 1.07% 0.93% 1.40% 1.89%
Category Average 0.65% 3.28% 3.28% 3.28% 7.68% 6.09% 1.96% 3.95% 3.59% - - - - -
Category Rank 95 / 127 108 / 118 101 / 118 101 / 118 91 / 115 98 / 99 79 / 80 68 / 69 32 / 33 - - - - -
Quartile Ranking 3 4 4 4 4 4 4 4 4 - - - - -

Monthly Return

Monthly Return
Return % Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Fund 0.27% -0.01% -1.56% -1.05% 3.80% 2.74% 0.37% -0.34% 0.66% -1.20% 1.18% 0.37%
Benchmark -1.08% -0.19% -2.62% 0.43% 4.21% 3.42% -1.36% -0.40% 0.48% -1.95% 0.00% 2.98%

Best Monthly Return Since Inception

3.80% (November 2023)

Worst Monthly Return Since Inception

-3.78% (September 2022)

Calendar Return (%)

Calendar Return
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 - - - - - - 23/ 45 70/ 72 84/ 95 109/ 113

Best Calendar Return (Last 10 years)

7.07% (2020)

Worst Calendar Return (Last 10 years)

-11.49% (2022)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 39.03
Cash and Equivalents 33.22
Canadian Corporate Bonds 20.98
Foreign Government Bonds 2.99
Foreign Bonds - Other 2.69
Other 1.09

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 65.33
Cash and Cash Equivalent 33.22
Consumer Services 0.63
Consumer Goods 0.38
Utilities 0.29
Other 0.15

Geographic Allocation

Geographic Allocation
Name Percent
North America 95.52
Europe 2.99
Latin America 1.56
Asia 0.07
Other -0.14

Top Holdings

Top Holdings
Name Percent
Cash and Cash Equivalents 28.74
Enbridge Inc 5.38% 27-Sep-2027 2.12
Northleaf Private Credit II LP MI 15 2.01
Toronto-Dominion Bank 5.53% 31-Jan-2025 1.78
Inter Pipeline Ltd 6.63% 19-Nov-2079 1.45
Bundesobligation 2.10% 12-Apr-2029 1.37
Gray Television Inc 5.38% 15-Nov-2031 1.22
Pembina Pipeline Corp 4.80% 25-Jan-2081 1.10
Sagard Credit Partners II LP 1.08
VistaJet Malta Finance PLC 6.38% 01-Feb-2030 1.06

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Mackenzie Credit Absolute Return Fund Series A

Median

Other - Alternative Credit Focus

3 Yr Annualized

Standard Deviation 5.52% 5.09% -
Beta 0.60% 0.56% -
Alpha -0.02% 0.00% -
Rsquared 0.56% 0.48% -
Sharpe -1.12% -0.46% -
Sortino -1.31% -0.82% -
Treynor -0.10% -0.04% -
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 5.42% 5.52% 5.09% -
Beta 0.59% 0.60% 0.56% -
Alpha 0.03% -0.02% 0.00% -
Rsquared 0.67% 0.56% 0.48% -
Sharpe 0.07% -1.12% -0.46% -
Sortino 0.81% -1.31% -0.82% -
Treynor 0.01% -0.10% -0.04% -
Tax Efficiency 84.22% - - -

Fund Details

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

Fund Codes

FundServ Code Load Code Sales Status
MFC5960

Investment Objectives

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.

Investment Strategy

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.

Portfolio Manager(s)

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

Management and Organization

Fund Manager Mackenzie Financial Corporation
Advisor Mackenzie Financial Corporation
Custodian Canadian Imperial Bank of Commerce
Registrar Mackenzie Financial Corporation
Distributor -
Auditor Deloitte LLP

Investment Minimums

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

Fees

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) -

Join Fund Library now and get free access to personalized features to help you manage your investments.