Join Fund Library now and get free access to personalized features to help you manage your investments.

Canada Life Floating Rate Income Fund A

Floating Rate Loan

FundGrade E Click for more information on Fundata’s FundGrade

FundGrade E

Click for more information on Fundata’s FundGrade.

NAVPS
(04-18-2024)
$7.80
Change
$0.00 (0.02%)

As at March 31, 2024

As at January 31, 2024

Period
Loading...

Legend

Canada Life Floating Rate Income Fund A

Compare Options


Fund Returns

Inception Return (July 07, 2014): 2.46%

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 0.62% 2.51% 4.65% 2.51% 8.81% 3.17% 2.41% 5.65% 1.66% 1.74% 2.27% 3.59% 2.62% -
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 54 / 80 45 / 80 55 / 79 45 / 80 62 / 79 62 / 78 64 / 78 60 / 78 64 / 72 63 / 70 54 / 61 38 / 58 49 / 57 -
Quartile Ranking 3 3 3 3 4 4 4 4 4 4 4 3 4 -

Monthly Return

Monthly Return
Return % Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Fund 0.74% -0.45% 1.27% 0.84% 0.90% 0.61% -0.28% 1.02% 1.34% 1.09% 0.78% 0.62%
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

2.94% (January 2023)

Worst Monthly Return Since Inception

-12.99% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund - -1.86% 9.75% 5.79% 1.64% 3.99% -1.83% 3.49% -6.25% 9.75%
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 - 4 2 2 3 4 4 4 4 3
Category Rank - 52/ 57 25/ 58 19/ 61 37/ 70 65/ 72 76/ 78 61/ 78 71/ 78 50/ 79

Best Calendar Return (Last 10 years)

9.75% (2016)

Worst Calendar Return (Last 10 years)

-6.25% (2022)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 86.61
Cash and Equivalents 5.96
Foreign Government Bonds 2.69
Canadian Government Bonds 1.94
Canadian Corporate Bonds 1.75
Other 1.05

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 93.20
Cash and Cash Equivalent 5.96
Consumer Goods 0.23
Industrial Goods 0.18
Utilities 0.16
Other 0.27

Geographic Allocation

Geographic Allocation
Name Percent
North America 94.60
Europe 4.99
Latin America 0.06
Multi-National 0.04
Other 0.31

Top Holdings

Top Holdings
Name Percent
Cash and Cash Equivalents 3.38
Canada Housing Trust No 1 5.26% 15-Sep-2026 1.94
OpenMarket Inc. Term Loan 1st Lien 17-Sep-2026 1.62
Hunter Douglas Inc. Term Loan B 1st Lien F/R 25-Feb-2029 1.48
iShares iBoxx $ High Yield Corp Bond ETF (HYG) 1.47
CAD Currency Forward 1.29
Restaurant Brands Term Loan 1st Lien Sr F/R 12-Sep-2030 1.24
Timber Servicios Empresariales SA Term Loan B 1st Lien F/R 1.21
Northleaf Private Credit II LP MI 15 1.18
KP Germany Erste GmbH Term Loan B 1st Lien F/R 04-Feb-2026 1.10

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Canada Life Floating Rate Income Fund A

Median

Other - Floating Rate Loan

3 Yr Annualized

Standard Deviation 3.61% 6.97% -
Beta 0.22% 0.61% -
Alpha 0.01% -0.01% -
Rsquared 0.20% 0.56% -
Sharpe -0.05% 0.00% -
Sortino -0.20% -0.17% -
Treynor -0.01% 0.00% -
Tax Efficiency - - -
Volatility Volatility rating is 1 on a scale of 1 to 10 Volatility rating is 2 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 1.91% 3.61% 6.97% -
Beta 0.10% 0.22% 0.61% -
Alpha 0.07% 0.01% -0.01% -
Rsquared 0.08% 0.20% 0.56% -
Sharpe 1.96% -0.05% 0.00% -
Sortino 6.28% -0.20% -0.17% -
Treynor 0.38% -0.01% 0.00% -
Tax Efficiency 59.99% - - -

Fund Details

Start Date July 07, 2014
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status -
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $240

Fund Codes

FundServ Code Load Code Sales Status
MAX7821
MAX7921
MAX8021

Investment Objectives

The Fund seeks to generate current income. The Fund invests primarily in floating rate debt obligations and other floating rate debt instruments of issuers located anywhere in the world. Any proposed change to the fundamental investment objectives of the Fund must be approved by a majority of the votes cast at a meeting of the Fund’s investors called for that purpose.

Investment Strategy

The Fund may invest in floating rate debt instruments of issuers rated below investment grade, which are those with a credit rating of below “BBB-” as rated by a recognized credit rating organization. These instruments may include senior loans which have seniority in a company’s structure with the loans generally secured against the issuing company’s assets or other collateral.

Portfolio Manager(s)

Name Start Date
Janet Salter 04-14-2021
Susan Spence 04-14-2021
Mackenzie Financial Corporation 08-19-2022

Management and Organization

Fund Manager Canada Life Investment Management Ltd.
Advisor Canada Life Investment Management Ltd.
Custodian CIBC Mellon Trust Company
Registrar Mackenzie Investments
Distributor Quadrus Investment Services Limited
Auditor Deloitte LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 25
PAC Subsequent 25
SWP Allowed No
SWP Min Balance -
SWP Min Withdrawal -

Fees

MER 1.97%
Management Fee 1.55%
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) -

Join Fund Library now and get free access to personalized features to help you manage your investments.