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Floating Rate Loan

FundGrade E Click for more information on Fundata’s FundGrade

FundGrade E

Click for more information on Fundata’s FundGrade.

NAVPS
(04-12-2024)
$8.41
Change
$0.00 (0.01%)

As at March 31, 2024

As at February 29, 2024

Period
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Legend

IA Clarington Floating Rate Income Fund Series A

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Fund Returns

Inception Return (November 11, 2013): 2.19%

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 -0.80% 0.58% -0.16% 0.41% 5.43% 1.60% 1.22% 3.32% 0.95% 1.47% 1.54% 2.09% 1.81% 2.12%
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 78 / 80 78 / 80 76 / 79 78 / 80 76 / 79 75 / 78 75 / 78 75 / 78 69 / 72 67 / 70 58 / 61 55 / 58 54 / 57 32 / 35
Quartile Ranking 4 4 4 4 4 4 4 4 4 4 4 4 4 4

Monthly Return

Monthly Return
Return % Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Fund 0.97% -0.42% 1.13% 0.93% 0.56% -0.22% -0.16% 1.39% 0.73% 0.58% 0.63% -0.80%
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

2.18% (November 2020)

Worst Monthly Return Since Inception

-9.52% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund 3.90% 0.87% 6.45% 2.37% 0.44% 6.12% -0.96% 2.06% -4.63% 6.32%
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 2 2 3 3 3 2 3 4 3 4
Category Rank 13/ 31 24/ 57 43/ 58 44/ 61 47/ 70 32/ 72 57/ 78 74/ 78 47/ 78 76/ 79

Best Calendar Return (Last 10 years)

6.45% (2016)

Worst Calendar Return (Last 10 years)

-4.63% (2022)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 61.50
Canadian Corporate Bonds 13.97
Cash and Equivalents 13.81
Foreign Bonds - Other 9.37
US Equity 1.34
Other 0.01

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 84.87
Cash and Cash Equivalent 13.81
Consumer Goods 1.20
Other 0.12

Geographic Allocation

Geographic Allocation
Name Percent
North America 75.67
Latin America 4.33
Europe 2.69
Other 17.31

Top Holdings

Top Holdings
Name Percent
BROOKFIELD CORP 03/28/24 4.15
BROOKFIELD CORP 03/11/24 1.59
Halo 12.00% 31-Aug-2024 1.53
.HALO 12 02/28/25 1.49
BMO Short Corporate Bond Index ETF (ZCS) 1.32
BELRON FINANCE LTD, Term Loan 1.30
OWENS & MINOR DISTRIBUTION, Term Loan 1.29
NORTHRIVER MIDSTREAM FIN, Term Loan 1.26
AMERICAN AIRLINES INC, Term Loan 1.26
BEACON ROOFING SUPPLY INC, Term Loan 1.25

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

IA Clarington Floating Rate Income Fund Series A

Median

Other - Floating Rate Loan

3 Yr Annualized

Standard Deviation 3.30% 5.35% 4.06%
Beta 0.25% 0.49% 0.30%
Alpha 0.00% -0.01% 0.01%
Rsquared 0.30% 0.60% 0.32%
Sharpe -0.41% -0.16% 0.20%
Sortino -0.62% -0.39% -0.22%
Treynor -0.05% -0.02% 0.03%
Tax Efficiency - - -
Volatility Volatility rating is 1 on a scale of 1 to 10 Volatility rating is 1 on a scale of 1 to 10 Volatility rating is 1 on a scale of 1 to 10

Risk Rating

Rating 1 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 2.36% 3.30% 5.35% 4.06%
Beta 0.24% 0.25% 0.49% 0.30%
Alpha 0.03% 0.00% -0.01% 0.01%
Rsquared 0.30% 0.30% 0.60% 0.32%
Sharpe 0.25% -0.41% -0.16% 0.20%
Sortino 1.67% -0.62% -0.39% -0.22%
Treynor 0.02% -0.05% -0.02% 0.03%
Tax Efficiency 36.79% - - -

Fund Details

Start Date November 11, 2013
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $627

Fund Codes

FundServ Code Load Code Sales Status
CCM9940
CCM9941
CCM9942

Investment Objectives

The Fund's objective is to provide unitholders with a stream of current monthly income by investing primarily in senior floating rate loans, other floating rate securities and debt obligations of investment grade and non-investment grade North American and global corporate issuers.

Investment Strategy

The Fund: will invest in floating rate debt instruments that pay interest, at a margin or spread above a reference base lending rate (often the London Interbank Offered Rate or LIBOR or some other benchmark rate), resulting in higher payments to investors as the benchmark interest rate increases (and lower payments if the benchmark rate decreases).

Portfolio Manager(s)

Name Start Date
Industrial Alliance Investment Management Inc. 07-23-2019
Amar Dhanoya 12-07-2020
Jeff Sujitno 12-07-2020

Management and Organization

Fund Manager IA Clarington Investments Inc.
Advisor Industrial Alliance Investment Management Inc.
Custodian CIBC Mellon Trust Company
Registrar IA Clarington Investments Inc.
Distributor -
Auditor PriceWaterhouseCoopers LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 50
PAC Subsequent 50
SWP Allowed Yes
SWP Min Balance 0
SWP Min Withdrawal 100

Fees

MER 1.85%
Management Fee 1.45%
Load Choice of Front or Back
FE Max 0.00%
DSC Max 0.00%
LL Max 0.00%
Trailer Fee Max (FE) 0.60%
Trailer Fee Max (DSC) 0.60%
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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