IA Clarington Strategic Corporate Bond Fund T5
Quick Facts
NAVPS (5/17/2013) $10.57
Distribution Frequency: Monthly, 4.2¢ per
unit
MER:
12/31/2012 1.99%*
Fund Numbers:
| Front |
Back |
Low |
Series F |
Series E5 |
| 3554 |
3555 |
3556 |
3557 |
3559 |
Key reasons to invest
- Award winning manager
- Seeks to obtain income and capital appreciation for the
fund
- Corporate bonds seek to enhance income, lower portfolio
volatility (low correlation with other asset classes) and lessens
its vulnerability to rising interest rates relative to government
bonds
Investment Approach
The fund manager employs a rigorous bottom-up strategy with a 12
to 18 month strategic outlook on the markets with a view to invest
in a stable mix of higher-yielding fixed-income securities of
Canadian and foreign issuers demonstrating strong fundamentals
while aiming to minimize volatility through all market
conditions.
Portfolio Sub-Advisor
IA Clarington Investments Inc.
Portfolio Manager
Dan Bastasic, CFA, MBA
- Senior Vice President & Portfolio Manager
- Over 15 years of investment experience
- Mr. Bastasic has extensive portfolio management experience in
both equity and fixed income markets and, prior to joining IA
Clarington, built an impressive track record as a portfolio manager
at a very large Canadian mutual fund company. At that company, Mr.
Bastasic managed mutual funds with a combined $2.8 billion in
assets under management, with one of the funds under his
stewardship receiving an award during his tenure as portfolio
manager
- MBA, University of Windsor
Inception Date: 9/26/2011
Net Assets: $645,945,275Historical Total Returns (%) as at 04/30/2013
| 1 month | 3 months | 6 months | 1 year | 3 years | 5 years | 10 years | Inception |
| 1.0 | 1.7 | 4.0 | 8.8 | - | - | - | 8.6 |
Calendar Year Returns (%)
| 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 |
| 10.2 | - | - | - | - | - | - | - | - | - |
Asset Mix
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Characteristics of the Fund
| Average rating - Bonds | BB |
| Average term | 5.3 years |
| Modified duration | 4.2 years |
| Average coupon | 7.7% |
| Yield at market value | 7.4% |
Top Ten Holdings
| Calfrac Holdings LP, 7.500%, 2020-12-01 | 2.7% |
| Russel Metals Inc., 6.000%, 2022-04-19 | 2.0% |
| Frontier Communications Corp., 7.125%, 2023-01-15 | 1.9% |
| Air Canada, 10.125%, 2015-08-01 | 1.8% |
| Sherritt International Corp., 7.500%, 2020-09-24 | 1.8% |
| Sears Holding Corp., 6.625%, 2018-10-15 | 1.7% |
| Alliance Grain Traders Inc., 9.000%, 2018-02-14 | 1.7% |
| Fairfax Financial Holdings Ltd., 5.800%, 2021-05-15 | 1.7% |
| Quebecor Media Inc., 6.625%, 2023-01-15 | 1.6% |
| Mattamy Group Corp., 6.875%, 2020-11-15 | 1.6% |
Portfolio information above as at: 04/30/2013
*IA Clarington Investments Inc., manager of the IA Clarington Strategic Corporate Bond Fund T5 (the "Fund"), currently waives some of its management fees or absorbs some expenses that would normally be charged to the Fund. This is done at the manager’s discretion, and may continue for an indeterminate period of time but may also be terminated at any time. The management expense ratio ("MER") for this series of the Fund published above is calculated after waivers and absorptions have been taken into account, using information available from the interim period ending 12/31/2012. The actual MER of the this series of the Fund before waivers and or absorptions is 2.29%
Important information and disclaimer