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
At least 3 years
Fund volatility
Low
Minimum Initial Investment:
$500
Subsequent Investment:
$50
Systematic Investment:
$25
Distribution Frequency:
Monthly
Assets Under Management ($M):
$2,894.8
Price per Unit:
$8.11
Inception Date:
November 28, 2016
Value of $10,000 since inception:
$11,229
Benchmark Index:
Bloomberg Barclays Global Aggregate Bond Index (CAD Hedged)
Management Fee:
1.25%
MER:
1.53%
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:
| Investor Series | NBC305 |
Portfolio Asset Mix (% of Net Assets)
| Foreign Corp Bonds - Invest Gr | 28.89% |
| Foreign high yield bonds | 21.17% |
| Foreign Government Bonds | 17.90% |
| Cash and Equivalents | 15.28% |
| Foreign Corp Bonds - Other | 13.67% |
| Canadian Government Bonds | 2.11% |
| Cdn Corp Bonds - Other | 0.73% |
| Other | 0.25% |
| Credit Rating | % |
|---|---|
| AAA | 20.92 |
| AA | 5.82 |
| A | 12.54 |
| BBB | 26.70 |
| BB | 22.48 |
| <= B | 11.53 |
| Average Duration (Years) | 4.90 |
| Average Maturity (Years) | 16.30 |
| Gross Yield to Maturity (%)† | 4.50 |
| Gross Current Yield (%)‡ | 5.74 |
| Top Holdings | % |
|---|---|
| Interest Rate Swap , due December 16, 2027 | 14.56 |
| Credit default swap 4.95% 20-Dec-2030 | 3.95 |
| Interest Rate Swap 2.32% 11-Aug-2030 | 3.34 |
| Federal National Mrtgage Assoc 4.50% 01-Aug-2052 | 1.92 |
| Canada Government 3.25% 01-Jun-2035 | 1.85 |
| Government Nationl Mrtg Assc 2 4.50% 20-Jun-2053 | 1.83 |
| Federal National Mrtgage Assoc 5.50% 01-Jul-2053 | 1.70 |
| Interest Rate Swap 2.09% 11-Aug-2035 | 1.70 |
| Mexico Government 8.50% 28-Feb-2030 | 1.65 |
| South Africa Government 9.00% 31-Jan-2040 | 1.46 |
| Total of Top Holdings of the Fund (% of Net Assets): |
33.96 |
| Total Number of Securities Held: | 1223 |
| Geographic Allocation | % |
|---|---|
| United States | 53.43 |
| Other | 17.24 |
| Canada | 12.32 |
| Latin America | 8.64 |
| European Union | 4.59 |
| Africa and Middle East | 3.19 |
| Asia/Pacific Rim | 0.36 |
| Multi-National | 0.23 |
Calendar Returns (%)
| YTD | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| 0.69 | 5.40 | 1.35 | 4.43 | -6.93 | -0.64 | 4.81 |
Annualized Returns (%)
| 1 M | 3 M | 6 M | 1 Y | 3 Y | 5 Y | 10 Y | Incp. |
|---|---|---|---|---|---|---|---|
| 0.69 | 0.79 | 3.10 | 5.46 | 3.46 | 0.74 | - | 1.27 |
†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.