Investment Objective
To provide a high level of current income. The fund invests, directly or indirectly through investments in securities of other mutual funds, in a portfolio comprised primarily of senior floating rate loans, which are generally rated below investment-grade, of corporate issuers located throughout the world and other floating rate debt instruments. The fund may invest up to 100% of its assets in foreign securities.
Fund Details
Investment horizon
Fund volatility
Minimum Initial Investment:
$500
Subsequent Investment:
$50
Systematic Investment:
$25
Distribution Frequency:
Monthly
Assets Under Management ($M):
$111.0
Price per Unit:
$9.98
Inception Date:
November 4, 2024
Value of $10,000 since inception:
-
Benchmark Index:
Morningstar LSTA US Leveraged Loan Index CAD Hedged
Management Fee:
1.20%
Portfolio Manager:
National Bank Investments Inc.
Sub-Advisor:
Alphafixe Capital Inc
Available Fund Codes:
| Advisor Series | |
|---|---|
| Initial Sales Charge | NBC5417 |
| F Series | NBC5717 |
| O Series | NBC9317 |
Portfolio Asset Mix
(% of Net Assets)
| Senior Secured Loans U.S. | 84.17% |
| ETF Senior Secured Loans U.S. | 9.51% |
| Corp Can Bond - HG | 4.53% |
| Cash and equivalent | 1.79% |
| Credit Rating | % |
|---|---|
| AAA | 1.18 |
| AA | 0.61 |
| A | 4.53 |
| BBB | 16.40 |
| BB | 47.97 |
| B | 29.30 |
| Average Duration (Years) | 0.25 |
| Average Maturity (Years) | 4.71 |
| Average Coupon | 6.36 |
| Gross Yield to Maturity (%)† | 5.67 |
| Top Holdings | % |
|---|---|
| AlixPartners LLP 6.97% 31-Jul-2025 | 3.43 |
| Trans Union LLC 6.11% 31-Jul-2025 | 3.43 |
| Medline Borrower LP 6.58% 23-Oct-2028 | 3.42 |
| Go Daddy Operating Co LLC 6.11% 31-Jul-2025 | 3.41 |
| Aramark Services Inc. 6.36% 15-Jan-2027 | 3.32 |
| APi Group DE Inc. 6.11% 01-Mar-2029 | 3.31 |
| SS&C Technologies Inc. 6.33% 09-May-2031 | 3.29 |
| Charter Communications Operating LLC 6.54% 24-Nov-2031 | 3.24 |
| Boost Newco Borrower LLC 6.30% 31-Jan-2031 | 3.12 |
| Burlington Coat 6.11% 31-Jul-2025 | 2.85 |
| Total of Top Holdings of the Fund (% of Net Assets): |
32.82 |
| Total Number of Securities Held: | 1184 |
| Allocation by Maturity | % |
|---|---|
| Short Term | 58.04 |
| Mid Term | 41.96 |
Calendar Returns (%)
Regulations restrict the presentation of performance figures until a fund reaches its one - year
anniversary.
Annualized Returns (%)
Regulations restrict the presentation of performance figures until a fund reaches its one - year
anniversary.
†The rate of return anticipated on a bond if it is held until the maturity date expressed as an annual rate. It is assumed that all coupons are reinvested at the same rate.
Disclosure
NBI Mutual Funds (the “Funds”) are offered by National Bank Investments Inc. an indirect wholly owned subsidiary of National Bank of Canada and sold by authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds. Please read the prospectus of the Funds before investing. The indicated rates of return are the historical annual compounded total returns which include changes in the value of securities and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. The Funds’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. For money market funds, there can be no assurances that a fund will be able to maintain its net asset value per security at a constant amount or that the full amount of the investment in a fund will be returned. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.