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CI Marret Alternative Enhanced Yield Fund Series A

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Alternative Credit Focus

FundGrade D Click for more information on Fundata’s FundGrade

FundGrade D

Click for more information on Fundata’s FundGrade.

NAVPS
(04-26-2024) 		$9.47
Change
$0.01 (0.11%)

As at March 31, 2024

As at March 31, 2024

Period
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Legend

CI Marret Alternative Enhanced Yield Fund Series A

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Fund Returns

Inception Return (May 14, 2020): 1.83%

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 0.47% 0.61% 4.59% 0.61% 2.90% 1.46% 0.92% - - - - - - -
Benchmark 0.48% -1.28% 6.84% -1.28% 1.93% -0.14% -1.50% -0.83% 0.22% 1.02% 1.12% 1.15% 1.09% 2.01%
Category Average 0.82% 6.16% 6.16% 1.92% 6.88% 3.42% 2.11% 5.50% - - - - - -
Category Rank 92 / 120 103 / 120 94 / 119 103 / 120 98 / 116 72 / 102 51 / 75 - - - - - - -
Quartile Ranking 4 4 4 4 4 3 3 - - - - - - -

Monthly Return

Monthly Return
Return % Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Fund 0.44% -0.59% -0.34% -0.08% 0.05% -1.10% -0.32% 2.25% 2.00% -0.02% 0.16% 0.47%
Benchmark 0.90% -1.62% -0.04% -1.08% -0.19% -2.62% 0.43% 4.21% 3.42% -1.36% -0.40% 0.48%

Best Monthly Return Since Inception

2.25% (November 2023)

Worst Monthly Return Since Inception

-1.76% (June 2022)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund - - - - - - - 1.27% -3.30% 4.49%
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 3 4
Category Rank - - - - - - - 55/ 75 51/ 98 101/ 116

Best Calendar Return (Last 10 years)

4.49% (2023)

Worst Calendar Return (Last 10 years)

-3.30% (2022)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 43.79
Canadian Government Bonds 18.37
Cash and Equivalents 15.79
Canadian Corporate Bonds 13.75
Foreign Government Bonds 7.96
Other 0.34

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 83.87
Cash and Cash Equivalent 15.79
Consumer Goods 0.31
Financial Services 0.08
Other -0.05

Geographic Allocation

Geographic Allocation
Name Percent
North America 100.01
Latin America 0.10
Multi-National -0.10
Other -0.01

Top Holdings

Top Holdings
Name Percent
Canada Government 3.25% 01-Dec-2033 6.74
TransDigm Inc 6.25% 15-Mar-2026 5.69
United States Treasury 4.00% 31-Jan-2029 4.89
Ontario Province 4.15% 02-Jun-2034 4.50
United States Treasury 3.75% 31-Dec-2028 4.02
Southwestern Energy Co 5.70% 23-Jan-2025 2.81
Ontario Province 4.15% 02-Dec-2054 2.49
Ford Motor Credit Co LLC 3.66% 08-Sep-2024 2.24
Walgreens Boots Alliance Inc 3.80% 18-Aug-2024 2.23
Crownrock LP 5.63% 15-Oct-2025 2.23

Equity Style

Equity style data not available

Fixed Income Style

Average Duration: S. Average Credit Quality: M.
Period: 

Risk vs Return (3 Yr)

CI Marret Alternative Enhanced Yield Fund Series A

Median

Other - Alternative Credit Focus

3 Yr Annualized

Standard Deviation 3.28% - -
Beta 0.44% - -
Alpha 0.02% - -
Rsquared 0.78% - -
Sharpe -0.50% - -
Sortino -0.84% - -
Treynor -0.04% - -
Tax Efficiency - - -
Volatility 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 3.39% 3.28% - -
Beta 0.47% 0.44% - -
Alpha 0.02% 0.02% - -
Rsquared 0.90% 0.78% - -
Sharpe -0.54% -0.50% - -
Sortino -0.05% -0.84% - -
Treynor -0.04% -0.04% - -
Tax Efficiency 53.20% - - -

Fund Details

Start Date May 14, 2020
Instrument Type Mutual Fund (Alternative)
Share Class Commission Based Advice
Legal Status -
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $60

Fund Codes

FundServ Code Load Code Sales Status
CIG2195

Investment Objectives

The fund seeks to provide income with low volatility over a market cycle regardless of market conditions or general market direction, by primarily investing in both debt instruments across the credit spectrum and cash or cash equivalents. The fund seeks to provide income while targeting low correlation to equity and traditional income. The fund will use leverage. The leverage will be created through the use of cash borrowings, short sales and derivative contracts.

Investment Strategy

The portfolio sub-advisor expects to invest in debt instruments across the credit spectrum including, but not limited to, cash, government debt, investment grade corporate debt, high-yield debt, credit derivatives, commercial paper, term loans, floating rate securities and other income-producing securities including fixed-income exchange-traded funds.

Portfolio Manager(s)

Name Start Date
Marret Asset Management Inc 05-05-2020
CI Global Asset Management 05-05-2022

Management and Organization

Fund Manager CI Global Asset Management
Advisor CI Global Asset Management
Custodian CIBC Mellon Trust Company
Registrar CI Investments Inc
Distributor -
Auditor Ernst & Young LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 25
PAC Subsequent 25
SWP Allowed Yes
SWP Min Balance -
SWP Min Withdrawal -

Fees

MER 1.65%
Management Fee 1.30%
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) -

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