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IA Clarington U.S. Dollar Floating Rate Income Fund Series A

Floating Rate Loan

NAVPS
(04-18-2024)
$8.52
Change
$0.00 (0.04%)

As at March 31, 2024

As at February 29, 2024

Period
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Legend

IA Clarington U.S. Dollar Floating Rate Income Fund Series A

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Fund Returns

Inception Return (December 31, 2015): 2.15%

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 -1.41% -1.01% 0.30% -1.01% 2.48% 0.22% 0.89% 3.62% 0.87% 1.70% 1.75% 2.06% - -
Benchmark 0.51% 0.49% 7.82% 0.49% 11.87% 5.94% 3.27% 9.57% 3.99% 2.36% 3.89% 4.16% 4.00% 2.01%
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 - - - - - - - - - - - - - -
Quartile Ranking - - - - - - - - - - - - - -

Monthly Return

Monthly Return
Return % Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Fund 0.63% -0.37% 1.03% 0.67% 0.45% -0.25% 0.00% 1.00% 0.33% 0.29% 0.11% -1.41%
Benchmark 2.44% -2.42% 3.21% 1.92% -0.23% -1.10% -0.39% 4.96% 2.62% 0.00% -0.02% 0.51%

Best Monthly Return Since Inception

2.66% (January 2019)

Worst Monthly Return Since Inception

-11.26% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund - - 4.64% 2.47% 1.41% 7.49% -1.49% 3.59% -3.46% 4.56%
Benchmark -6.57% -7.28% 8.33% 13.62% -5.68% 6.60% 7.15% -0.12% -7.58% 17.57%
Category Average 3.44% -0.88% 8.41% 4.02% 0.32% 6.37% -0.22% 4.16% -4.30% 9.97%
Quartile Ranking - - - - - - - - - -
Category Rank - - - - - - - - - -

Best Calendar Return (Last 10 years)

7.49% (2019)

Worst Calendar Return (Last 10 years)

-3.46% (2022)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 69.29
Cash and Equivalents 15.94
Canadian Corporate Bonds 11.64
Foreign Bonds - Other 2.28
US Equity 0.86
Other -0.01

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 83.21
Cash and Cash Equivalent 15.94
Consumer Goods 0.86
Other -0.01

Geographic Allocation

Geographic Allocation
Name Percent
North America 89.02
Europe 1.31
Latin America 1.26
Other 8.41

Top Holdings

Top Holdings
Name Percent
BROOKFIELD CORP 03/11/24 6.21
Paccar Financial Services 4.51
.HALO 12 02/28/25 1.73
OWENS & MINOR DISTRIBUTION, Term Loan 1.72
NORTHRIVER MIDSTREAM FIN, Term Loan 1.71
Ciena Corp 1.70
embecta 1.68
Iron Mountain Inc 4.88% 15-Sep-2029 1.62
AMERICAN AIRLINES INC, Term Loan 1.62
Air Canada 4.63% 15-Aug-2029 1.57

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

IA Clarington U.S. Dollar Floating Rate Income Fund Series A

Median

Other - Floating Rate Loan

3 Yr Annualized

Standard Deviation 3.02% 5.99% -
Beta 0.19% 0.53% -
Alpha 0.00% -0.01% -
Rsquared 0.21% 0.55% -
Sharpe -0.56% -0.15% -
Sortino -0.76% -0.35% -
Treynor -0.09% -0.02% -
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 -

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 2.34% 3.02% 5.99% -
Beta 0.21% 0.19% 0.53% -
Alpha 0.00% 0.00% -0.01% -
Rsquared 0.23% 0.21% 0.55% -
Sharpe -0.97% -0.56% -0.15% -
Sortino -0.28% -0.76% -0.35% -
Treynor -0.11% -0.09% -0.02% -
Tax Efficiency - - - -

Fund Details

Start Date December 31, 2015
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency USD
Distribution Frequency Monthly
Assets ($mil) $16

Fund Codes

FundServ Code Load Code Sales Status
CCM8880
CCM8881

Investment Objectives

The Fund’s objective is to provide unitholders with a stream of current monthly income in U.S. dollars 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. The fundamental investment objective may only be changed with the approval of a majority of Securityholders at a meeting called for that purpose.

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). Such floating rate debt instruments will include senior floating rate loans (“Senior Loans”).

Portfolio Manager(s)

Name Start Date
Industrial Alliance Investment Management Inc. 07-23-2019
Jeff Sujitno 12-07-2020
Amar Dhanoya 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 No
PAC Allowed Yes
PAC Initial Investment 50
PAC Subsequent 50
SWP Allowed Yes
SWP Min Balance 0
SWP Min Withdrawal 100

Fees

MER 1.91%
Management Fee 1.45%
Load Choice of Front or Back
FE Max 5.00%
DSC Max -
Trailer Fee Max (FE) 0.60%
Trailer Fee Max (DSC) 0.60%
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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