Investment Objective
To maximize total return, consistent with preservation of capital. The Fund invests, directly or indirectly through investments in securities of other mutual funds or through the use of derivatives, in a diversified portfolio composed mainly of fixed-income securities of issuers located throughout the world with various maturities and credit ratings.
Fund Details
Investment horizon
Fund volatility
Minimum Initial Investment:
$500
Subsequent Investment:
$50
Systematic Investment:
$25
Distribution Frequency:
Monthly
Assets Under Management ($M):
$2,660.8
Price per Unit:
$8.12
Inception Date:
November 28, 2016
Value of $10,000 since inception:
$11,431
Benchmark Index:
Bloomberg Barclays Global Aggregate Bond Index (CAD Hedged)
Management Fee:
0.75%
MER:
0.97%
Portfolio Manager:
National Bank Investments Inc.
Sub-Advisor:
J.P. Morgan Investment Management Inc.
Management Fee Reduction Plan¹
For High Net Worth investors
Amount Applicable
| Level | to the level* | Reduction |
|---|---|---|
| 1 | First $250,000 | 0.025% |
| 2 | Next $250,000 | 0.050% |
| 3 | In excess of $500,000 | 0.075% |
¹ Subject to satisfying one of the Plan admissibility criteria.
* The levels apply according to the market value of the
assets.
Available Fund Codes:
| Advisor Series | |
|---|---|
| Initial Sales Charge | NBC405 |
| Deferred Sales Charge | NBC505 |
| Low Sales Charge | NBC605 |
| F Series | NBC705 |
| F5 Series | NBC5705 |
| O Series | NBC335 |
| T5 Series | |
| Initial Sales Charge | NBC5405 |
| Deferred Sales Charge | NBC5505 |
| Low Sales Charge | NBC5605 |
Portfolio Asset Mix
(% of Net Assets)
| Foreign Corp Bonds - Invest Gr | 32.70% |
| Foreign high yield bonds | 25.97% |
| Foreign Government Bonds | 20.06% |
| Cash and Equivalents | 13.93% |
| Foreign Corp Bonds - Other | 6.22% |
| Bonds - Other | 0.53% |
| Cdn Corp Bonds - Other | 0.53% |
| Other | 0.06% |
| Credit Rating | % |
|---|---|
| AAA | 7.12 |
| AA | 14.65 |
| A | 16.13 |
| BBB | 26.32 |
| BB | 24.00 |
| <= B | 12.02 |
| Average Duration (Years) | 4.58 |
| Average Maturity (Years) | 14.81 |
| Gross Yield to Maturity (%)† | 4.31 |
| Gross Current Yield (%)‡ | 5.65 |
| Top Holdings | % |
|---|---|
| Interest Rate Swap 3.95% 19-Apr-2029 | 7.58 |
| Credit default swap , due June 20, 2030 | 5.65 |
| Federal National Mrtgage Assoc 4.50% 01-Aug-2052 | 2.16 |
| Interest Rate Swap 2.41% 18-Dec-2034 | 2.16 |
| Government Nationl Mrtg Assc 2 4.50% 20-Jun-2053 | 2.06 |
| Federal National Mrtgage Assoc 5.50% 01-Jul-2053 | 2.00 |
| Interest Rate Swap , due April 19, 2037 | 1.85 |
| Credit default swap , due June 30, 2030 | 1.70 |
| Mexico Government 8.50% 28-Feb-2030 | 1.69 |
| Brazil Government 10.00% 01-Jan-2027 | 1.23 |
| Total of Top Holdings of the Fund (% of Net Assets): |
28.08 |
| Total Number of Securities Held: | 1236 |
| Geographic Allocation | % |
|---|---|
| United States | 62.82 |
| Other | 11.26 |
| Canada | 8.99 |
| Latin America | 7.35 |
| European Union | 5.69 |
| Africa and Middle East | 2.74 |
| Japan | 0.86 |
| Asia/Pacific Rim | 0.29 |
Calendar Returns (%)
| YTD | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| 3.28 | 1.84 | 5.02 | -6.38 | -0.02 | 5.25 | 9.49 |
Annualized Returns (%)
| 1 M | 3 M | 6 M | 1 Y | 3 Y | 5 Y | 10 Y | Incp. |
|---|---|---|---|---|---|---|---|
| -0.18 | 1.51 | 2.51 | 3.85 | 3.22 | 1.56 | - | 1.55 |
†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.
‡Annual income paid by a bond or a stock, expressed as a percentage of its current market price. It does not include any capital gains or losses that may be realized upon maturity.
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.