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Renaissance Floating Rate Income Fund Class A

Floating Rate Loan

FundGrade B Click for more information on Fundata’s FundGrade

FundGrade B

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FundGrade A+® Rating Recipient

FundGrade A+® Rating Recipient

2016

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NAVPS
(04-19-2024)
$10.57
Change
-$0.01 (-0.12%)

As at March 31, 2024

As at March 31, 2024

Period
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Legend

Renaissance Floating Rate Income Fund Class A

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Fund Returns

Inception Return (September 16, 2013): 5.71%

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 0.54% 4.35% 5.15% 4.35% 10.69% 9.84% 6.80% 6.01% 4.51% 4.74% 3.97% 4.45% 4.11% 5.25%
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 66 / 80 8 / 80 34 / 79 8 / 80 23 / 79 9 / 78 9 / 78 56 / 78 19 / 72 15 / 70 14 / 61 19 / 58 15 / 57 7 / 35
Quartile Ranking 4 1 2 1 2 1 1 3 2 1 1 2 2 1

Monthly Return

Monthly Return
Return % Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Fund 1.12% -0.02% -0.74% 0.63% 3.25% 0.96% 2.22% -0.67% -0.77% 2.08% 1.69% 0.54%
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%

Best Monthly Return Since Inception

9.61% (January 2015)

Worst Monthly Return Since Inception

-5.53% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund 9.41% 17.70% 3.39% -3.71% 7.06% 3.75% 0.49% 3.14% 3.66% 9.11%
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 1 1 4 4 1 4 2 4 1 4
Category Rank 6/ 31 7/ 57 58/ 58 60/ 61 8/ 70 68/ 72 23/ 78 64/ 78 9/ 78 64/ 79

Best Calendar Return (Last 10 years)

17.70% (2015)

Worst Calendar Return (Last 10 years)

-3.71% (2017)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 88.84
Cash and Equivalents 9.22
Canadian Corporate Bonds 1.10
Foreign Government Bonds 0.47
Canadian Government Bonds 0.27
Other 0.10

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 90.78
Cash and Cash Equivalent 9.22

Geographic Allocation

Geographic Allocation
Name Percent
North America 89.14
Europe 0.99
Other 9.87

Top Holdings

Top Holdings
Name Percent
Cash and Cash Equivalents 8.93
NETSMART 10/20 COV-LITE TLB 0.92
IMG Worldwide Inc 18-May-2025 0.83
WESTINGHOUSE/BROOKFIELD WEC 1/ 0.71
BELRON 12/23 (2028) TL 0.69
ALIXPARTNERS 2/21 (USD) COV-LI 0.68
DATATEL/ELLUCIAN TLB 0.67
SEDGWICK CMS 2/23 TLB 0.65
OPEN TEXT 08/23 TLB 0.65
APPLIED SYSTEMS 2/24 TL 0.65

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Renaissance Floating Rate Income Fund Class A

Median

Other - Floating Rate Loan

3 Yr Annualized

Standard Deviation 5.85% 6.04% 7.07%
Beta 0.25% 0.37% 0.54%
Alpha 0.05% 0.03% 0.03%
Rsquared 0.10% 0.27% 0.33%
Sharpe 0.71% 0.44% 0.57%
Sortino 1.06% 0.37% 0.53%
Treynor 0.16% 0.07% 0.07%
Tax Efficiency 66.55% 51.47% -
Volatility Volatility rating is 2 on a scale of 1 to 10 Volatility rating is 1 on a scale of 1 to 10 Volatility rating is 3 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 4.47% 5.85% 6.04% 7.07%
Beta 0.37% 0.25% 0.37% 0.54%
Alpha 0.06% 0.05% 0.03% 0.03%
Rsquared 0.20% 0.10% 0.27% 0.33%
Sharpe 1.24% 0.71% 0.44% 0.57%
Sortino 4.26% 1.06% 0.37% 0.53%
Treynor 0.15% 0.16% 0.07% 0.07%
Tax Efficiency 74.53% 66.55% 51.47% -

Fund Details

Start Date September 16, 2013
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $1,463

Fund Codes

FundServ Code Load Code Sales Status
ATL2503
ATL2504
ATL2505

Investment Objectives

To generate a high level of current income, primarily through investment in senior floating rate loans and other floating rate debt instruments as well as lower-rated debt securities, of issuers located anywhere in the world. We will not change the Fund’s fundamental investment objectives without the consent of unitholders by a majority of votes cast at a meeting of unitholders.

Investment Strategy

To achieve its investment objectives, the Fund: seeks to invest primarily in U.S. dollar denominated senior floating rate loans and other floating rate debt instruments of borrowers and issuers located anywhere in the world. The rate of interest payable on floating rate loans and debt instruments adjusts or varies periodically at a margin above a generally recognized base lending rate such as the London Interbank Offered Rate, Bankers’ Acceptance, a prime rate, or another base lending rate.

Portfolio Manager(s)

Name Start Date
CIBC Asset Management Inc. 09-16-2013
Ares Capital Management II LLC 12-16-2020

Management and Organization

Fund Manager CIBC Asset Management Inc.
Advisor CIBC Asset Management Inc.
Custodian CIBC Mellon Trust Company
Registrar CIBC Asset Management Inc.
Distributor -
Auditor Ernst & Young LLP, Chartered Accountants

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 500
PAC Subsequent 50
SWP Allowed Yes
SWP Min Balance 10,000
SWP Min Withdrawal 50

Fees

MER 1.45%
Management Fee 1.25%
Load Front 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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