Fund Portfolio – Mackenzie Canadian Bond Fund Series A MFC302 MFC7012 MFC3168 | Mackenzie Investments

Mackenzie Canadian Bond Fund Series A

Asset Class: Canadian Fixed Income

Major Holdings (%) Help Top holdings by percentage

As of October 31, 2017
Major holdings represent 28.8% of the fund.
View all holdings
Total # of
Fixed Income Holdings
193
Holding name, country and sector Percentage of holding in fund
Province of Ontario 2.60% 06-02-2027
Canada | Provincial Governments
4.6%
Province of Ontario 2.80% 06-02-2048
Canada | Provincial Governments
4.2%
Province of Quebec 3.50% 12-01-2045
Canada | Provincial Governments
3.2%
Province of Ontario 2.40% 06-02-2026
Canada | Provincial Governments
3.0%
Canada Housing Trust No. 1 2.40% 12-15-2022
Canada | Federal Government
2.4%
Government of Canada 1.25% 12-01-2047 Real Return
Canada | Federal Government
2.4%
Canada Housing Trust No. 1 2.35% 06-15-2027
Canada | Federal Government
2.4%
Province of Quebec 2.75% 09-01-2027
Canada | Provincial Governments
2.3%
Province of Ontario 2.90% 12-02-2046
Canada | Provincial Governments
2.2%
Government of Canada 1.00% 09-01-2022
Canada | Federal Government
2.2%

Complete Fund Holdings Help Full holdings list

As of August 31, 2017
Holding Name No. of Shares/Units Market Value CAD (000s) % of NAV
407 International Inc. 3.43% 06-01-2033 MTN 3,870,000 3,954 0.4%
407 International Inc. 3.60% 05-21-2047 Callable 1,960,000 1,958 0.2%
Access Justice Durham 5.015% 08-31-2039 3,062,719 3,493 0.3%
AIMCo Realty Investors LP 2.27% 06-26-2024 Callable 2024 1,990,000 1,962 0.2%
Algonquin Power & Utilities Corp. 4.09% 02-17-2027 Callable 2,610,000 2,733 0.3%
Algonquin Power & Utilities Corp. 4.65% 02-15-2022 2,380,000 2,569 0.2%
Algonquin Power & Utilities Corp. 5.50% 07-25-2018 Callable 440,000 454 0.0%
Alimentation Couche-Tard Inc. 3.06% 07-26-2024 Callable 2024 2,700,000 2,717 0.3%
Allied Properties Real Estate Investment Trust 3.64% 04-21-2025 Callable 2025 2,660,000 2,605 0.2%
Allied Properties REIT 3.748% 05-13-2020 Series A 1,745,000 1,793 0.2%
Allied Properties REIT 3.93% 11-14-2022 Series B 1,736,000 1,782 0.2%
AltaGas Ltd. 3.72% 09-28-2021 Callable 2,470,000 2,575 0.2%
Altalink LP 3.72% 12-03-2046 Callable Series MTN 2,029,000 2,080 0.2%
Anheuser-Busch InBev Finance Inc. 2.60% 05-15-2024 Callable 2024 2,810,000 2,784 0.3%
Anheuser-Busch InBev Finance Inc. 3.30% 02-01-2023 Callable 2022 2,400,000 3,116 0.3%
APT Pipelines Ltd. 4.20% 03-23-2025 Callable 2024 144A 2,490,000 3,269 0.3%
APT Pipelines Ltd. 4.245% 07-24-2019 4,460,000 4,604 0.4%
Artis Real Estate Investment Trust 3.753% 03-27-2019 1,730,000 1,746 0.2%
AT&T Inc. 3.825% 11-25-2020 2,790,000 2,909 0.3%
Aviva PLC 4.50% 05-10-2021 1,380,000 1,464 0.1%
Bank of America Corp. F/R 03-15-2023 Callable 2022 4,670,000 4,658 0.4%
Bank of Montreal 1.61% 10-28-2021 DPNT 6,830,000 6,687 0.6%
Bank of Montreal 1.88% 03-31-2021 DPNT 3,660,000 3,637 0.3%
Bank of Montreal 2.27% 07-11-2022 3,020,000 3,022 0.3%
Bank of Montreal 3.32% 06-01-2026 6,020,000 6,169 0.6%
Bank of Montreal 3.34% 12-08-2025 Callable 2020 5,620,000 5,762 0.5%
Bank of Montreal F/R 06-01-2027 Callable 2022 4,490,000 4,438 0.4%
bcIMC Realty Corp. 3.00% 03-31-2027 Callable 2026 2,570,000 2,600 0.2%
Bell Canada 2.70% 02-27-2024 Callable 3,250,000 3,237 0.3%
Bell Canada 4.45% 02-27-2047 Callable 5,670,000 5,757 0.5%
BMW Canada Inc. 1.88% 12-11-2020 Series Q 2,920,000 2,900 0.3%
Brookfield Asset Management Inc. 3.95% 04-09-2019 2,780,000 2,865 0.3%
Brookfield Renewable Energy Partners ULC 3.63% 01-15-2027 Callable 2026 2,200,000 2,209 0.2%
Brookfield Renewable Energy Partners ULC 3.752% 06-02-2025 Callable 2025 5,610,000 5,778 0.5%
Bruce Power LP 2.84% 06-23-2021 5,390,000 5,480 0.5%
Bruce Power LP 3.00% 06-21-2024 Callable 2024 Series:17-1 4,020,000 4,038 0.4%
Caisse Centrale Desjardins 2.09% 01-17-2022 13,240,000 13,164 1.2%
Cameco Corp. 5.67% 09-02-2019 Series D 3,720,000 3,907 0.4%
Canada Housing Trust 2.35% 06-15-2027 25,400,000 25,458 2.4%
Canada Housing Trust No. 1 2.40% 12-15-2022 25,790,000 26,415 2.5%
Canadian Commercial Mortgage Origination Trust 1 2.768% 11-12-2018 1,301,289 1,308 0.1%
Canadian Commercial Mortgage Origination Trust 2.658% 11-12-2017 814,014 814 0.1%
Canadian Credit Card Trust II 1.829% 03-24-2020 3,990,000 3,983 0.4%
Canadian Imperial Bank 2.30% 07-11-2022 Series DPNT 10,330,000 10,352 1.0%
Canadian Imperial Bank of Commerce 3.42% 01-26-2026 Callable 2021 7,750,000 7,962 0.7%
Canadian Imperial Bank of Commerce F/R 3.00% 10-28-2024 Callable 2019 2,410,000 2,444 0.2%
Canadian National Railway Co. 3.60% 08-01-2047 Callable 2047 1,240,000 1,248 0.1%
Canadian Real Estate Investment Trust 2.95% 01-18-2023 Callable 2022 1,750,000 1,727 0.2%
Canadian Real Estate Investment Trust 4.323% 01-15-2021 1,400,000 1,466 0.1%
Canadian Western Bank 2.74% 06-16-2022 Series DPNT 1,090,000 1,087 0.1%
Cards II Trust 2.155% 10-15-2020 4,610,000 4,637 0.4%
Chartwell Retirement Residences 3.79% 12-11-2023 Callable 2023 1,680,000 1,673 0.2%
CHIP Mortgage Trust 2.33% 04-29-2020 950,000 937 0.1%
CHIP Mortgage Trust 2.98% 11-15-2021 1,060,000 1,047 0.1%
Choice Properties Real Estate Investment Trust 4.055% 11-24-2025 Callable 2,580,000 2,704 0.3%
Citigroup Inc. 3.39% 11-18-2021 2,947,000 3,052 0.3%
Citigroup Inc. 4.09% 06-09-2025 Series MPLE 3,730,000 3,880 0.4%
Crosslinx Transit Solutions General Partnership 4.651% 09-30-2046 2,610,000 2,668 0.2%
CU Inc. 3.76% 11-19-2046 Callable 2046 1,400,000 1,433 0.1%
Danske Bank AS 2.75% 09-17-2020 144A 750,000 956 0.1%
Danske Bank AS 2.80% 03-10-2021 144A 1,840,000 2,349 0.2%
Eagle Credit Card Trust 2.147% 09-17-2020 1,760,000 1,768 0.2%
Enbridge Inc. 3.20% 06-08-2027 Callable 2027 1,480,000 1,437 0.1%
Enbridge Inc. 4.24% 08-27-2042 1,830,000 1,732 0.2%
Enbridge Inc. 4.57% 03-11-2044 5,080,000 5,054 0.5%
EnerCare Solutions Inc. 3.38% 02-21-2022 Callable 2022 2,320,000 2,357 0.2%
EnerCare Solutions Inc. 3.99% 02-21-2024 Callable 2023 2,300,000 2,366 0.2%
Fairfax Financial Holdings Ltd. 4.50% 03-22-2023 1,670,000 1,747 0.2%
Fairfax Financial Holdings Ltd. 4.70% 12-16-2026 Callable 2026 3,500,000 3,639 0.3%
Fairfax Financial Holdings Ltd. 5.84% 10-14-2022 1,920,000 2,133 0.2%
Fortified Trust 1.67% 07-23-2021 2,890,000 2,846 0.3%
Fortis Inc. 2.85% 12-12-2023 Callable 2023 1,720,000 1,739 0.2%
FortisAlberta Inc. 3.34% 09-21-2046 Callable Series MTN 640,000 604 0.1%
Futures Contracts -255 0.0%
Gaz Metro Inc. 1.52% 05-25-2020 1,010,000 1,002 0.1%
General Motors Financial of Canada Ltd. 2.60% 06-01-2022 2,020,000 1,982 0.2%
Genesis Trust II 1.675% 09-17-2018 2,760,000 2,761 0.3%
Genesis Trust II 1.699% 04-15-2020 2,770,000 2,758 0.3%
Glacier Credit Card Trust 2.05% 09-20-2022 3,440,000 3,386 0.3%
Government of Canada 0.75% 09-01-2021 17,470,000 17,019 1.6%
Government of Canada 1.00% 06-01-2027 18,240,000 16,870 1.6%
Government of Canada 1.25% 12-01-2047 Real Return 20,790,000 25,497 2.4%
Government of Canada 1.50% 06-01-2023 3,190,000 3,176 0.3%
Government of Canada 2.00% 12-01-2041 Real Return 1,450,000 2,207 0.2%
Government of Canada 2.75% 06-01-2022 30,000 32 0.0%
Government of Canada 2.75% 12-01-2048 5,710,000 6,334 0.6%
Government of Canada 3.25% 06-01-2021 1,750,000 1,867 0.2%
Government of Canada 3.50% 06-01-2020 520,000 550 0.1%
Government of Canada 3.50% 12-01-2045 18,430,000 23,087 2.1%
Granite REIT Holdings LP 3.87% 11-30-2023 Callable 2023 4,115,000 4,152 0.4%
H&R Real Estate Investment Trust 2.92% 05-06-2022 2,260,000 2,242 0.2%
H&R Real Estate Investment Trust 3.37% 01-30-2024 Callable 2023 2,550,000 2,533 0.2%
HCN Canadian Holdings-1 LP 3.35% 11-25-2020 1,650,000 1,697 0.2%
Health Montreal Collective LP 6.721% 09-30-2049 1,490,000 2,018 0.2%
Heathrow Funding Ltd. 3.25% 05-21-2025 2,580,000 2,637 0.2%
Hollis Receivables Term Trust II 1.788% 02-26-2020 3,970,000 3,960 0.4%
Hollis Receivables Term Trust II 2.434% 06-26-2019 4,380,000 4,431 0.4%
Honda Canada Finance Inc. 1.631% 08-12-2019 3,150,000 3,137 0.3%
HSBC Bank of Canada 2.17% 06-29-2022 DPNT 12,920,000 12,806 1.2%
HSBC Holdings PLC 3.20% 12-05-2023 3,460,000 3,516 0.3%
Hydro One Inc. 3.72% 11-18-2047 3,130,000 3,178 0.3%
Hydro One Inc. 3.91% 02-23-2046 Callable 2045 2,080,000 2,182 0.2%
Hydro-Quebec Interest Strip 0% 02-15-2025 2,880,000 2,372 0.2%
Industrial Alliance Insurance and Financial Services Inc. 2.80% 05-16-2024 Callable 2019 1,230,000 1,240 0.1%
Inter Pipeline Ltd. 2.73% 04-18-2024 Callable 2024 4,680,000 4,617 0.4%
Inter Pipeline Ltd. 3.173% 03-24-2025 Callable 2024 Series MTN 3,590,000 3,603 0.3%
Inter Pipeline Ltd. 3.48% 12-16-2026 Callable 2026 2,610,000 2,630 0.2%
International Finance Corp. 3.625% 05-20-2020 2,960,000 2,726 0.3%
John Deere Canada Funding Inc. 1.85% 03-24-2021 1,120,000 1,110 0.1%
JPMorgan Chase & Co. 3.19% 03-05-2021 2,630,000 2,717 0.3%
Manulife Bank of Canada 1.92% 09-01-2021 2,630,000 2,593 0.2%
Manulife Bank of Canada 2.08% 05-26-2022 3,060,000 3,019 0.3%
Manulife Financial Corp. F/R 08-20-2029 Callable 2024 3,310,000 3,326 0.3%
Metropolitan Life Global Funding I 3.11% 04-16-2021 2,160,000 2,225 0.2%
Molson Coors International LP 2.25% 09-18-2018 1,200,000 1,205 0.1%
Molson Coors International LP 2.84% 07-15-2023 Callable 2023 2,270,000 2,259 0.2%
Morgan Stanley 3.00% 02-07-2024 Series MPLE 4,110,000 4,117 0.4%
National Bank of Canada 1.96% 06-30-2022 10,760,000 10,608 1.0%
NBC Asset Trust 7.447% Perpetual (F/R @ 06-30-2020) Callable 2020 10,620,000 11,850 1.1%
Nissan Canada Financial Services Inc. 1.58% 10-07-2019 610,000 605 0.1%
Nissan Canada Financial Services Inc. 1.75% 04-09-2020 3,110,000 3,087 0.3%
North Battleford Power LP 4.958% 12-31-2032 1,747,590 1,954 0.2%
North West Redwater Partnership 2.80% 06-01-2027 Callable 2027 800,000 781 0.1%
North West Redwater Partnership 3.65% 06-01-2035 Callable 2034 1,480,000 1,479 0.1%
Northgroup Preferred Capital Corp. F/R 10-15-2017 Callable 1,370,000 1,707 0.2%
Nykredit Realkredit AS 1.00% 01-01-2021 51,270,000 10,663 1.0%
OMERS Realty Corp. 3.328% 11-12-2024 4,700,000 4,935 0.5%
Ontario Electricity Financial Corp. 0% 11-27-2020 4,910,000 4,613 0.4%
Ontario Hydro 0% 05-26-2025 2,580,000 2,086 0.2%
OPB Finance Trust 2.98% 01-25-2027 Series F 2,190,000 2,228 0.2%
Pembina Pipeline Corp. 2.99% 01-22-2024 Callable 2023 3,554,000 3,539 0.3%
Pembina Pipeline Corp. 3.71% 08-11-2026 Callable 2026 3,160,000 3,209 0.3%
Pembina Pipeline Corp. 4.24% 06-15-2027 Callable 2027 4,820,000 5,041 0.5%
PepsiCo Inc. 2.15% 05-06-2024 Callable 2024 1,580,000 1,553 0.1%
Province of Alberta 3.30% 12-01-2046 13,570,000 13,832 1.3%
Province of Manitoba 1.738% 12-01-2018 Real Return 8,615,000 10,597 1.0%
Province of Manitoba 2.85% 09-05-2046 10,480,000 9,722 0.9%
Province of Manitoba 3.40% 09-05-2048 6,570,000 6,804 0.6%
Province of Ontario 0% 06-02-2024 14,560,000 12,310 1.1%
Province of Ontario 0% 06-02-2026 3,170,000 2,499 0.2%
Province of Ontario 0% 07-13-2022 5,870,000 5,276 0.5%
Province of Ontario 0% 12-02-2023 7,050,000 6,066 0.6%
Province of Ontario 2.40% 06-02-2026 24,210,000 24,040 2.2%
Province of Ontario 2.60% 06-02-2027 31,210,000 31,302 2.9%
Province of Ontario 2.80% 06-02-2048 28,670,000 27,033 2.5%
Province of Ontario 2.90% 12-02-2046 28,980,000 27,835 2.6%
Province of Quebec 0% 04-01-2026 3,380,000 2,664 0.2%
Province of Quebec 2.75% 09-01-2027 28,466,000 28,933 2.7%
Province of Quebec 3.50% 12-01-2045 32,110,000 34,478 3.2%
Province of Quebec 3.50% 12-01-2048 3,000,000 3,249 0.3%
PSP Capital Inc. 2.09% 11-22-2023 Series 9 1,020,000 1,013 0.1%
Reliance LP 3.813% 09-15-2020 1,540,000 1,575 0.1%
Reliance LP 5.187% 03-15-2019 5,700,000 5,914 0.5%
Royal Bank of Canada 2.00% 03-21-2022 10,300,000 10,200 0.9%
Royal Bank of Canada 2.33% 12-05-2023 DPNT 4,430,000 4,407 0.4%
Royal Bank of Canada 3.31% 01-20-2026 8,850,000 9,063 0.8%
Royal Bank of Canada 4.65% 01-27-2026 GMTN 2,220,000 3,009 0.3%
Saputo Inc. 1.94% 06-13-2022 Callable 2022 1,550,000 1,520 0.1%
Saputo Inc. 2.83% 11-21-2023 Callable 2023 950,000 959 0.1%
Sea to Sky Highway Investment LP 2.63% 08-31-2030 Series A 2,690,267 2,613 0.2%
Spy Hill Power LP 4.14% 03-31-2036 1,701,083 1,762 0.2%
Sun Life Financial Inc. F/R 02-19-2026 Callable 2021 3,310,000 3,387 0.3%
Sun Life Financial Inc. F/R 09-19-2028 Callable 2023 4,010,000 4,065 0.4%
Sun Life Financial Inc. F/R 09-25-2025 Callable 2020 4,280,000 4,317 0.4%
Sydney Airport Finance Co. Pty. Ltd. 3.625% 04-28-2026 Callable 2026 144A 2,950,000 3,779 0.4%
TD Capital Trust IV 6.631% 06-30-2021 Callable 2021 3,510,000 4,000 0.4%
Telus Corp. 4.70% 03-06-2048 Callable 2047 2,970,000 3,060 0.3%
The Bank of Nova Scotia 1.83% 04-27-2022 5,850,000 5,742 0.5%
The Bank of Nova Scotia 1.90% 12-02-2021 Series DPNT 10,750,000 10,624 1.0%
The Bank of Nova Scotia 2.29% 06-28-2024 6,830,000 6,726 0.6%
The Bank of Nova Scotia 2.58% 03-30-2027 Callable 2022 3,510,000 3,480 0.3%
The Bank of Nova Scotia 4.50% 12-16-2025 1,420,000 1,891 0.2%
The Bank of Nova Scotia 6.45% 01-01-2025 2,835,125 3,402 0.3%
The Fédération des Caisses Desjardins du Québec 2.39% 08-25-2022 3,400,000 3,408 0.3%
The Goldman Sachs Group Inc. 2.43% 04-26-2023 Callable 4,040,000 3,990 0.4%
The Goldman Sachs Group Inc. 3.55% 02-12-2021 6,740,000 7,005 0.7%
The International Bank for Reconstruction and Development 3.50% 01-22-2021 9,200,000 8,453 0.8%
The Manufacturers Life Insurance Co. 2.389% 01-05-2026 Callable 2021 3,200,000 3,214 0.3%
The Manufacturers Life Insurance Co. 2.81% 02-21-2024 Callable 2019 5,450,000 5,518 0.5%
The Toronto-Dominion Bank 1.68% 06-08-2021 Covered 2,180,000 2,154 0.2%
The Toronto-Dominion Bank 1.91% 07-18-2023 DPNT 7,240,000 7,059 0.7%
The Toronto-Dominion Bank 2.05% 03-08-2021 320,000 320 0.0%
The Toronto-Dominion Bank 2.05% 12-01-2022 1,420,045 1,415 0.1%
The Toronto-Dominion Bank 2.982% 09-30-2025 Callable 2020 2,480,000 2,518 0.2%
The Toronto-Dominion Bank 4.86% 03-04-2031 Callable 2026 6,210,000 6,916 0.6%
The Toronto-Dominion Bank 5.375% 07-01-2028 (99007783) 6,695,136 7,744 0.7%
The Toronto-Dominion Bank 5.50% 04-01-2024 991,572 1,138 0.1%
The Toronto-Dominion Bank 6.125% 12-01-2024 5,060,055 5,991 0.6%
The Toronto-Dominion Bank F/R 07-25-2029 Callable 2024 10,070,000 10,107 0.9%
Thomson Reuters Corp. 3.309% 11-12-2021 Callable 2,270,000 2,348 0.2%
TMX Group Ltd. 4.46% 10-03-2023 Callable 2023 3,225,000 3,490 0.3%
TransCanada Trust F/R 05-18-2077 Callable 2027 3,220,000 3,228 0.3%
Transurban Finance Co. Pty Ltd. 3.368% 03-06-2019 4,000,000 4,089 0.4%
Trillium Windpower LP 5.80% 02-15-2033 1,668,228 1,921 0.2%
Union Gas Ltd. 8.65% 11-10-2025 3,390,000 4,787 0.4%
Ventas Canada Finance Ltd. 2.55% 03-15-2023 Callable 2023 2,740,000 2,701 0.3%
Verizon Communications Inc. 2.63% 08-15-2026 Callable 2026 4,220,000 4,937 0.5%
Wells Fargo & Co. 2.222% 03-15-2021 5,690,000 5,678 0.5%
Wells Fargo & Co. 2.51% 10-27-2023 2,490,000 2,453 0.2%
Wells Fargo & Co. 2.975% 05-19-2026 Series MPLE 2,263,000 2,223 0.2%
Wells Fargo & Co. 3.874% 05-21-2025 Series MTN 3,480,000 3,598 0.3%
Westcoast Energy Inc. 4.79% 10-28-2041 2,570,000 2,771 0.3%
WTH Car Rental ULC 1.912% 07-20-2020 820,000 814 0.1%
Total Investments -- 1,005,492 93.6%
Cash & Equivalents -- 61,249 5.4%
Currency Hedge Contracts -- 1,670 0.2%
Other Assets (Liabilities) -- 8,145 0.8%
Total Net Assets -- 1,076,556 100.0%

Asset Allocation (%) Help Holdings by region and sector

As of November 30, 2017
  • Regional Allocation
      Canada
    84.0%
      United States
    8.7%
      Australia
    1.4%
      United Kingdom
    0.9%
      New Zealand
    0.8%
      Belgium
    0.7%
      Denmark
    0.3%
      Cash & Equivalents 3.2%
  • Sector Allocation
      Corporate Bonds 51.7%
      Provincial Bonds 28.6%
      Federal Bonds 11.5%
      Cash & Equivalents 3.2%
      Foreign Fixed Income 2.1%
      Mortgage Backed 1.9%
      Other 1%
Credit Allocation (%)
AAA 19.8%
AA 37.9%
A 21%
BBB 18.2%
BB 0%
B 0%
CCC & Below 0%
NR 0%
Cash & Equivalents 3.2%
Equities 0%

Other Canadian Fixed Income Funds

Portfolio Managers

Steve Locke, MBA, CFA

Senior Vice President, Portfolio Manager, Head of Team

Mackenzie Fixed Income Team

Investment experience since 1995

Felix Wong, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Fixed Income Team

Investment experience since 1988

Series A Front End of this fund is closed to new investments.

The Series G and Investor Series versions of this fund are closed to new investments.

Series A Front End of this fund is closed to new investments.

Fund Risk Measures:
  • Annualized Standard Deviation: A measure of how widely returns varied over a period. A lower standard deviation means the returns of the fund have historically been less volatile and vice-versa. Standard deviation is a measure of historical risk; future risk may be different.
  • Annualized Standard Deviation Benchmark: A measure of how widely returns varied over a period. A lower standard deviation means the returns of the benchmark have historically been less volatile, and vice-versa.
  • Alpha: A measure of the difference between a portfolio's actual return and its expected return given its level of risk. Risk is measured by beta. A positive number indicates that it has performed better than beta would predict.
  • Beta: A measure of the tendency of the value of the fund and the value of the benchmark to move together. The market has a beta of 1. If beta of a fund is higher than 1, the movement in value compared to the benchmark tends to be amplified. A beta less than 1 means the movement in value tends to be dampened.
  • R2: A measure that represents the percentage of a fund's movements that can be attributed to movements of a benchmark index.
  • Sharpe Ratio: A measure of how much of a fund's excess return is achieved for a certain level of risk. The greater a fund's Sharpe Ratio, the higher the risk-adjusted returns.

Commissions, trailing commissions, management fees, brokerage fees and expenses may be associated with investment funds. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security holder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

For changes in the business, operations or affairs of an investment fund, and reorganization or acquisition of assets in an investment fund during the most recent 10 years that could have materially affected the performance of the investment fund, please refer to the "Major Changes During the Last 10 Years” section in the most recent Annual Information Form.

Mutual Fund US Dollar Settlement Option details.

Index performance does not include the impact of fees, commissions, and expenses that would be payable by investors in the investment products that seek to track an index.

The rate of return is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the investment fund or asset allocation service or returns on investment in the investment fund or from the use of the asset allocation service.

* The FTSE TMX Canada Universe Bond Index is a broad measure of Canadian bonds with terms to maturity of more than one year. It includes approximately 1,000 federal, provincial, municipal and corporate bonds rated 'BBB' or higher.

†The major holdings of the Fund may, but do not necessarily, represent the largest holdings of the Fund. Rather, the major holdings are selected for their overall significance in evaluating the investment portfolio. Please see mackenzieinvestments.com/currency to view the funds/products using currency derivatives to hedge exchange risk.

‡ Credit ratings and rating categories are based on Standard & Poor’s or DBRS (or equivalent ratings issued by other approved credit rating organizations).