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Dynamic Credit Opportunities Fund Series A

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Alternative Credit Focus

NAVPS
(12-20-2024) 		$10.22
Change
-$0.01 (-0.07%)

As at November 30, 2024

As at September 30, 2024

Period
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Legend

Dynamic Credit Opportunities Fund Series A

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Fund Returns

Inception Return (September 25, 2023): 7.34%

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 -0.03% -0.17% 1.79% 6.88% 7.84% - - - - - - - - -
Benchmark 1.51% 2.25% 8.10% 4.64% 8.22% 4.86% 0.01% -0.96% 0.66% 2.03% 1.69% 1.78% 1.96% 2.06%
Category Average 0.99% 2.34% 4.98% 7.73% 9.92% 7.52% 3.72% 3.70% 4.24% - - - - -
Category Rank 124 / 131 122 / 125 113 / 122 65 / 113 80 / 113 - - - - - - - - -
Quartile Ranking 4 4 4 3 3 - - - - - - - - -

Monthly Return

Monthly Return
Return % Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
Fund 0.90% 1.32% 1.48% 1.20% 0.62% 0.29% 0.81% 0.93% 0.21% -0.15% 0.01% -0.03%
Benchmark 3.42% -1.36% -0.40% 0.48% -1.95% 0.00% 2.98% 2.14% 0.52% 1.82% -1.07% 1.51%

Best Monthly Return Since Inception

1.48% (February 2024)

Worst Monthly Return Since Inception

-0.15% (September 2024)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund - - - - - - - - - -
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 - - - - - - - - - -
Category Rank - - - - - - - - - -

Best Calendar Return (Last 10 years)

-

Worst Calendar Return (Last 10 years)

-

Asset Allocation

Asset Allocation
Name Percent
Canadian Corporate Bonds 45.96
Foreign Corporate Bonds 35.06
Cash and Equivalents 12.94
Foreign Government Bonds 3.49
Canadian Equity 1.65
Other 0.90

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 85.26
Cash and Cash Equivalent 12.94
Technology 0.06
Healthcare 0.02
Consumer Services 0.01
Other 1.71

Geographic Allocation

Geographic Allocation
Name Percent
North America 100.01
Other -0.01

Top Holdings

Top Holdings
Name Percent
B77963125 Cds Usd R V 03Me 3377963125_Pro Ccpcdx 1.00% 20-Dec-2029 46.33
NuVista Energy Ltd 7.87% 23-Jul-2026 19.05
Wolf Midstream Canada LP 6.40% 18-Jul-2029 9.63
U.S. DOLLARS 9.10
Carnival Corp 4.00% 01-May-2028 6.25
Athabasca Oil Corp 6.75% 09-Aug-2029 4.78
Freedom Mortgage Holdings LLC 9.25% 01-Feb-2029 3.83
Capital Power Corp 8.13% 05-Jun-2054 3.53
CES Energy Solutions Corp 6.88% 24-May-2029 3.40
Freedom Mortgage Holdings LLC 9.13% 15-May-2031 2.81

Equity Style

Equity style data not available

Fixed Income Style

Average Duration: S. Average Credit Quality: L.

Risk vs Return (3 Yr)

3 Yr Annualized

Standard Deviation - - -
Beta - - -
Alpha - - -
Rsquared - - -
Sharpe - - -
Sortino - - -
Treynor - - -
Tax Efficiency - - -
Volatility - - -

Risk Rating

Rating out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 1.93% - - -
Beta -0.03% - - -
Alpha 0.08% - - -
Rsquared 0.01% - - -
Sharpe 1.59% - - -
Sortino 8.44% - - -
Treynor -1.16% - - -
Tax Efficiency - - - -

Fund Details

Start Date September 25, 2023
Instrument Type Mutual Fund (Alternative)
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $37

Fund Codes

FundServ Code Load Code Sales Status
DYN3136

Investment Objectives

The Fund seeks to generate absolute returns over a complete market cycle through long and short positions in primarily corporate debt securities. The Fund will use alternative investment strategies including the use of leverage.

Investment Strategy

To achieve the Fund’s investment objectives, the Fund will follow a comprehensive top-down and bottom-up investment process focused on the risk-reward relationship of individual credit investments inside a diversified portfolio

Portfolio Manager(s)

Name Start Date
Roger Rouleau 10-13-2023
Marc-André Gaudreau 10-13-2023
Jeremy Lucas 10-13-2023

Management and Organization

Fund Manager 1832 Asset Management L.P.
Advisor 1832 Asset Management L.P.
Custodian -
Registrar 1832 Asset Management L.P.
Distributor -
Auditor KPMG LLP

Investment Minimums

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

Fees

MER 2.75%
Management Fee 1.80%
Load Back Fee Only
FE Max 5.00%
DSC Max -
Trailer Fee Max (FE) 1.00%
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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