Overview

Quick Facts

Daily Price

$11.48
0.02% ($0.00)
January 18, 2019
7-Day Performance 0.30%
Inception date November 25, 2005
CIFSC category Global Fixed Income
AUM1 $8.07 billion
MER 2.00% (as at 2017/12/31, includes HST)

Investment Highlights

The strategic fixed income team believes returns can be generated by investing primarily in a portfolio of global government and corporate bonds, including emerging markets and high yield securities. Currency management is employed to further diversify the portfolio, mitigate risk and add value. By expanding the investment universe to include multiple sectors and currencies, they believe they increase their potential to add value while reducing risk.

Why Invest

This global multi-sector fixed income fund can access any fixed income asset class from any area of the world. Coupled with a focused, active currency management the composition of this portfolio offers investors a unique opportunity in the space. With discretionary portfolio managers based in Hong Kong, London and Boston, this global multi-sector fixed income fund is managed 24 hours a day, 6 days a week with prudent risk management as the primary focus in all investment decisions.  The team focuses on the management of 4 key risks to the portfolio: Credit, Liquidity, Interest Rate and Currency.

Fund Details

Distribution frequency2 Monthly
Distribution Yield3 2.34%
Management fee 1.59%
Positions 523
Risk Low
Min. investment $500.00 initial; $25.00 PAC
Sub-advisor Manulife Asset Management (US) LLC
Fund Status Open

Fund Characteristics as of November 30, 2018

Valuation/Growth Portfolio
Avg Credit Quality4 BBB
Current Yield 4.59%
Duration (years) 2.93

Fund Codes (MMF)

Series FE LL DSC
Advisor Series 559 759 459
Series T6 1530 1330 1230

Performance5

Growth of $10,000 over 10 years

Jump to Range Total return for this timeframe

Compound Returns (%)

1 month 3 months 6 months YTD 1 year 3 years 5 years 10 years Inception
-0.40 -1.41 -1.03 -2.54 -2.54 1.02 3.29 4.91 5.46
1 month -0.40
3 months -1.41
6 months -1.03
YTD -2.54
1 year -2.54
3 years 1.02
5 years 3.29
10 years 4.91
Inception 5.46

Calendar Returns (%)

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
8.78 8.60 2.04 9.12 4.45 8.11 5.47 3.10 2.59 -2.54
2009 8.78
2010 8.60
2011 2.04
2012 9.12
2013 4.45
2014 8.11
2015 5.47
2016 3.10
2017 2.59
2018 -2.54

Portfolio Allocation as of November 30, 2018

Asset Allocation (%)

See following table for detailed information. The pie slices display the relative value of each table entry.

Fixed income 93.22
Cash and equivalents 4.63
Preferred Shares 2.16

Geographic Allocation (%)

See following table for detailed information. The pie slices display the relative value of each table entry.

United States 58.93
Canada 5.46
Mexico 5.04
Indonesia 3.97
Australia 2.36
Brazil 2.11
Ireland 1.93
Philippines 1.87
Germany 1.82
Norway 1.67
Other 14.83

Credit Quality (%)

See following table for detailed information. The pie slices display the relative value of each table entry.

High (AAA,AA-) 15.60
Med (A+, BBB-) 43.02
Low (BB+ and under) 41.07
NR (Non-rated) 0.31

Fixed Income Allocation (%)

See following table for detailed information. The pie slices display the relative value of each table entry.

International government bonds 24.01
U.S. high yield bonds 17.59
Bank loans 11.81
International corporate bonds 11.56
U.S. investment grade bonds 10.89
Mortgage-backed securities 9.64
Floating rate bank loans 3.92
Convertibles 1.80
U.S. corporate bonds 1.68
Asset-backed securities 1.50
Canadian provincial bonds 1.05
Canadian government bonds 0.97
Securitized 0.92
Canadian high yield bonds 0.79
Preferred stocks 0.51
Canadian agency bonds 0.49
Canadian investment grade bonds 0.47
Canadian corporate bonds 0.41

Top 10 Holdings6 (%)

Name Weight %
Brazil, 10%, 1/1/2023 1.18
Ireland, 3.9%, 3/20/2023 0.97
Wachovia Capital Trust III (FRN), 5.8%, 12/31/2049 0.85
Gov. of Canada, 1.75%, 3/1/2023 0.85
Ireland, 3.4%, 3/18/2024 0.84
Mexico City Airport Trust, 5.5%, 7/31/2047 144A 0.83
Singapore, 3.25%, 9/1/2020 0.80
Brazil, 10%, 1/1/2021 0.68
Malaysia, 4.059%, 9/30/2024 0.60
Swiss Insured Brazil Power Finance S.a r.l., 9.85%, 7/16/2032 144A 0.59

Distributions

Effective Date Net Asset Value Income Capital Gain Total Distribution Reinvestment Price
2019/01/18 $11.48
2019/01/17 $11.48
2019/01/16 $11.47
2019/01/15 $11.46
2019/01/14 $11.45
2019/01/11 $11.46
2019/01/10 $11.45
2019/01/09 $11.44
2019/01/08 $11.43
2019/01/07 $11.41
2019/01/04 $11.39
2019/01/03 $11.33
2019/01/02 $11.33
2018/12/31 $11.35
2018/12/28 $11.33
2018/12/27 $11.31
2018/12/24 $11.31
2018/12/21 $11.32 0.0104 0.0104
2018/12/20 $11.34
2018/12/19 $11.38
2018/12/18 $11.39
2018/12/17 $11.40
2018/12/14 $11.41
2018/12/13 $11.42
2018/12/12 $11.42
2018/12/11 $11.40
2018/12/10 $11.40
2018/12/07 $11.42
2018/12/06 $11.41
2018/12/05 $11.45
2018/12/04 $11.43
2018/12/03 $11.45
2018/11/30 $11.41 0.0304 0.0304
2018/11/29 $11.43
2018/11/28 $11.42
2018/11/27 $11.40
2018/11/26 $11.41
2018/11/23 $11.41
2018/11/22 $11.42
2018/11/21 $11.42
2018/11/20 $11.41
2018/11/19 $11.43
2018/11/16 $11.44
2018/11/15 $11.44
2018/11/14 $11.45
2018/11/13 $11.47
2018/11/12 $11.48
2018/11/09 $11.49
2018/11/08 $11.50
2018/11/07 $11.50
2018/11/06 $11.47
2018/11/05 $11.46
2018/11/02 $11.45
2018/11/01 $11.44
2018/10/31 $11.44
2018/10/30 $11.43
2018/10/29 $11.45
2018/10/26 $11.45 0.0188 0.0188
2018/10/25 $11.48
2018/10/24 $11.47
2018/10/23 $11.49
2018/10/22 $11.52
2018/10/19 $11.53
2018/10/18 $11.52
2018/10/17 $11.53
2018/10/16 $11.52
2018/10/15 $11.52
2018/10/12 $11.52
2018/10/11 $11.52
2018/10/10 $11.52
2018/10/09 $11.52
2018/10/05 $11.52
2018/10/04 $11.52
2018/10/03 $11.54
2018/10/02 $11.55
2018/10/01 $11.55
2018/09/28 $11.57 0.0212 0.0212
2018/09/27 $11.62
2018/09/26 $11.59
2018/09/25 $11.58
2018/09/24 $11.59
2018/09/21 $11.59
2018/09/20 $11.58
2018/09/19 $11.58
2018/09/18 $11.59
2018/09/17 $11.58
2018/09/14 $11.58
2018/09/13 $11.57
2018/09/12 $11.57
2018/09/11 $11.57
2018/09/10 $11.58
2018/09/07 $11.58
2018/09/06 $11.58
2018/09/05 $11.58
2018/09/04 $11.58
2018/08/31 $11.59 0.0273 0.0273
2018/08/30 $11.62
2018/08/29 $11.63
2018/08/28 $11.62
2018/08/27 $11.63
2018/08/24 $11.63
2018/08/23 $11.63
2018/08/22 $11.63
2018/08/21 $11.63
2018/08/20 $11.62
2018/08/17 $11.62
2018/08/16 $11.63
2018/08/15 $11.61
2018/08/14 $11.62
2018/08/13 $11.62
2018/08/10 $11.64
2018/08/09 $11.66
2018/08/08 $11.67
2018/08/07 $11.66
2018/08/03 $11.65
2018/08/02 $11.64
2018/08/01 $11.65
2018/07/31 $11.65
2018/07/30 $11.65
2018/07/27 $11.65 0.0281 0.0281
2018/07/26 $11.67
2018/07/25 $11.67
2018/07/24 $11.66
2018/07/23 $11.65
2018/07/20 $11.66

Management

Daniel S. Janis III
Thomas C. Goggins
Kisoo Park
Christopher Chapman

Management Fee Reduction7

Account/Household Value Tiers All Qualifying Investments
$250K+ to $499K 2.5 basis points
$500K+ to $999K 5 basis points
$1M+ to $4.9M 7.5 basis points
$5M+ to $9.9M 10 basis points
$10M+ 12.5 basis points