Fund Portfolio – Mackenzie Credit Absolute Return Fund Series A | Mackenzie Investments

Mackenzie Credit Absolute Return Fund Series A

Asset Class: Alternative Strategies

Major Holdings (%) Help Top holdings by percentage

As of August 31, 2019
Major holdings represent 23.1% of the fund.
View all holdings
Total # of
Fixed Income Holdings
73
Holding name, country and sector Percentage of holding in fund
AT&T Inc. 4.00% 11-25-2025 Callable 2025
United States | Corporate - Non Convertible
2.3%
Emera Inc. 2.90% 06-16-2023
Canada | Corporate - Non Convertible
2.3%
McDonald's Corp. 3.13% 03-04-2025 Callable 2025
United States | Corporate - Non Convertible
2.3%
Bank of America Corp. F/R 09-20-2025 Callable 2024
United States | Corporate - Non Convertible
2.3%
Shaw Communications Inc. 4.35% 01-31-2024 Callable
Canada | Corporate - Non Convertible
2.3%
Capital Power Corp. 4.28% 09-18-2024 Callable 2024
Canada | Corporate - Non Convertible
2.3%
Sysco Canada Inc. 3.65% 04-25-2025 Callable 2025
United States | Corporate - Non Convertible
2.3%
Algonquin Power & Utilities Corp. 4.65% 02-15-2022
Canada | Corporate - Non Convertible
2.3%
AltaLink LP 2.98% 11-28-2022
Canada | Corporate - Non Convertible
2.3%
Greater Toronto Airports Authority 1.51% 02-16-2021
Canada | Corporate - Non Convertible
2.3%

Complete Fund Holdings Help Full holdings list

As of June 30, 2019
Holding Name No. of Shares/Units Market Value CAD (000s) % of NAV
Algonquin Power & Utilities Corp. 4.65% 02-15-2022 1,020,000 1,081 2.2%
Alimentation Couche-Tard Inc. 3.899% 11-01-2022 Callable 1,020,000 1,071 2.2%
AltaLink LP 2.98% 11-28-2022 1,040,000 1,075 2.2%
Anheuser-Busch InBev Finance Inc. 2.60% 05-15-2024 Callable 2024 1,080,000 1,082 2.2%
Aston Martin Capital Holdings Ltd. 6.50% 04-15-2022 Callable 2019 144A -200,000 -261 -0.5%
AT&T Inc. 4.00% 11-25-2025 Callable 2025 1,030,000 1,092 2.2%
Bank of America Corp. F/R 09-20-2025 Callable 2024 1,040,000 1,080 2.2%
Bank of Montreal 2.89% 06-20-2023 840,000 867 1.8%
Bank of Montreal 3.32% 06-01-2026 840,000 858 1.7%
Bell Canada 2.00% 10-01-2021 1,040,000 1,039 2.1%
Brookfield Infrastructure Finance ULC 3.54% 10-30-2020 Reg S 1,040,000 1,057 2.1%
Bruce Power LP 2.84% 06-23-2021 620,000 628 1.3%
Calfrac Holdings LP 8.50% 06-15-2026 Callable 2021 144A 20,000 18 0.0%
Canadian Imperial Bank of Commerce 1.64% 07-12-2021 DPNT 860,000 855 1.7%
Canadian Imperial Bank of Commerce 3.42% 01-26-2026 Callable 2021 840,000 856 1.7%
Canadian National Railway Co. 2.75% 02-18-2021 Callable 2021 1,060,000 1,072 2.2%
Canadian Natural Resources Ltd. 2.89% 08-14-2020 Callable 1,060,000 1,067 2.2%
Capital Power Corp. 4.28% 09-18-2024 Callable 2024 1,030,000 1,077 2.2%
Carvana Co. 8.88% 10-01-2023 144A -75,000 -100 -0.2%
Chobani LLC 7.50% 04-15-2025 Callable 2020 144A -50,000 -61 -0.1%
Choice Properties LP 3.60% 09-20-2022 Callable 1,030,000 1,063 2.2%
Credit Acceptance Corp. 6.63% 03-15-2026 Callable 2022 50,000 69 0.1%
Currency Put Option USD/CAD 07-05-2019 Strike $1.3250 730,000 11 0.0%
Eagle Credit Card Trust 2.15% 09-17-2020 850,000 851 1.7%
Edison International 4.13% 03-15-2028 Callable 2027 -100,000 -128 -0.3%
Emera Inc. 2.90% 06-16-2023 1,070,000 1,087 2.2%
Enbridge Gas Distribution Inc. 4.04% 11-23-2020 Callable 1,020,000 1,047 2.1%
Energizer Holdings Inc. 6.38% 07-15-2026 Callable 2021 144A -150,000 -204 -0.4%
EPCOR Utilities Inc. 1.95% 07-08-2022 200,000 200 0.4%
FAGE International SA / FAGE USA Dairy Industry Inc. 5.63% 08-15-2026 Callable 2021 144A 200,000 232 0.5%
First Quantum Minerals Ltd. 7.50% 04-01-2025 Callable 2020 144A 200,000 248 0.5%
FMG Resources (August 2006) Pty. Ltd. 5.13% 05-15-2024 Callable 2024 144A -50,000 -68 -0.1%
Fortified Trust 2.56% 03-23-2024 70,000 71 0.1%
Freeport-McMoRan Inc. 4.55% 11-14-2024 Callable 2024 -200,000 -267 -0.5%
Futures Contracts 121 0.2%
Greater Toronto Airports Authority 1.51% 02-16-2021 1,080,000 1,074 2.2%
HSBC Bank Canada 2.25% 09-15-2022 50,000 50 0.1%
Hydro One Inc. 2.57% 06-25-2021 1,060,000 1,074 2.2%
Inter Pipeline Ltd. 4.967% 02-02-2021 Callable 1,020,000 1,063 2.2%
Laurentian Bank of Canada 2.55% 06-20-2022 90,000 90 0.2%
Manulife Bank of Canada 1.92% 09-01-2021 860,000 858 1.7%
McDonald's Corp. 3.13% 03-04-2025 Callable 2025 1,040,000 1,077 2.2%
National Bank of Canada 1.81% 07-26-2021 860,000 858 1.7%
OMERS Realty Corp. 3.20% 07-24-2020 1,050,000 1,063 2.2%
Pembina Pipeline Corp. 4.89% 03-29-2021 Callable 1,000,000 1,045 2.1%
PSP Capital Inc. 3.03% 10-22-2020 Series 5 1,040,000 1,057 2.1%
Rackspace Hosting Inc. 8.63% 11-15-2024 Callable 2019 144A 75,000 91 0.2%
Rite Aid Corp. 6.13% 04-01-2023 Callable 2020 144A 25,000 28 0.1%
Rogers Communications Inc. 4.70% 09-29-2020 Callable 1,010,000 1,041 2.1%
Royal Bank of Canada 1.65% 07-15-2021 DPNT 860,000 855 1.7%
Royal Bank of Canada 3.31% 01-20-2026 840,000 854 1.7%
Seagate Hdd Cayman 4.75% 01-01-2025 -75,000 -99 -0.2%
Shaw Communications Inc. 4.35% 01-31-2024 Callable 1,010,000 1,085 2.2%
Springleaf Finance Corp. 6.88% 03-15-2025 -50,000 -72 -0.1%
Staples Inc. 7.50% 04-15-2026 Callable 2022 144A -25,000 -33 -0.1%
Sun Life Financial Inc. F/R 02-19-2026 Callable 2021 840,000 852 1.7%
Suncor Energy Inc. 3.10% 11-26-2021 Callable 2021 1,040,000 1,063 2.2%
Sysco Canada Inc. 3.65% 04-25-2025 Callable 2025 1,020,000 1,073 2.2%
TELUS Corp. 5.05% 07-23-2020 1,020,000 1,050 2.1%
Tesla Inc. 2.38% 03-15-2022 Conv. -45,000 -58 -0.1%
The Bank of Nova Scotia 1.83% 04-27-2022 860,000 857 1.7%
The Bank of Nova Scotia 3.27% 01-11-2021 830,000 847 1.7%
The Bank of Nova Scotia F/R 07-03-2029 Callable 2024 70,000 70 0.1%
The Toronto-Dominion Bank 2.05% 03-08-2021 850,000 852 1.7%
The Toronto-Dominion Bank 2.85% 03-08-2024 30,000 31 0.1%
The Toronto-Dominion Bank 2.982% 09-30-2025 Callable 2020 840,000 848 1.7%
Total Return Swap BKLN 05-10-2019 -13 0.0%
Total Return Swap EMB 06-12-2019 36 0.1%
Total Return Swap HYG 05-10-2019 24 0.0%
Total Return Swap LQD 06-12-2019 75 0.2%
Total Return Swap SHYG 05-10-2019 4 0.0%
TransCanada PipeLines Ltd. 3.65% 11-15-2021 1,030,000 1,068 2.2%
United States Treasury 0.50% 04-15-2024 Inflation Indexed 540,000 726 1.5%
United States Treasury 0.75% 07-15-2028 Inflation Indexed 520,000 723 1.5%
Western Digital Corp. 4.75% 02-15-2026 Callable 2025 75,000 97 0.2%
WeWork Companies Inc. 7.88% 05-01-2025 144A -100,000 -130 -0.3%
Total Investments -- 42,940 87.1%
Cash & Equivalents -- 5,660 11.6%
Currency Hedge Contracts -- 31 0.1%
Other Assets (Liabilities) -- 575 1.2%
Total Net Assets -- 49,206 100.0%

Other Alternative Strategies Funds

Portfolio Managers

Steve Locke, MBA, CFA

Senior Vice President, Portfolio Manager, Head of Team

Mackenzie Fixed Income Team

Investment experience since 1995

Konstantin Boehmer, MBA

Vice President, Portfolio Manager

Mackenzie Fixed Income Team

Investment experience since 2003

Felix Wong, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Fixed Income Team

Investment experience since 1988

Dan Cooper, CFA

Vice President, Portfolio Manager

Mackenzie Fixed Income Team

Investment experience since 2003

Movin Mokbel, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Fixed Income Team

Investment experience since 2000

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 Canada 91 Day T-Bill Index measures the return attributable to 91-day Treasury Bills.

†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.