Fund Portfolio – Mackenzie Floating Rate Income Fund Series A MFC4324 MFC7210 MFC4325 MFC4326 MFC7211 MFC4327 | Mackenzie Investments

Mackenzie Floating Rate Income Fund Series A

Asset Class: Global Fixed Income

Major Holdings (%) Help Top holdings by percentage

As of March 31, 2017
Major holdings represent 17.1% of the fund.
View all holdings
Total # of
Equity Holdings
8
Total # of
Fixed Income Holdings
194
Holding name, country and sector Percentage of holding in fund
Uber Technologies Inc. Term Loan B 1st Lien F/R 07-07-2023
United States | Bank Loans
2.5%
Electrical Components International Inc. Term Loan B
United States | Bank Loans
2.2%
JBS USA LUX SA Term Loan B 1st Lien F/R 10-30-2022
Brazil | Bank Loans
2.1%
Innocor Inc. Term Loan 1st Lien F/R 02-02-2024
United States | Bank Loans
1.6%
REP WWEX Acquisition Parent LLC Term Loan 1st Lien
United States | Bank Loans
1.6%
Global Eagle Entertainment Inc. Term Loan 1st Lien
United States | Bank Loans
1.5%
Interior Logic Group Inc. Term Loan B 1st Lien
United States | Bank Loans
1.5%
MEG Energy Corp. Term Loan B 1st Lien F/R 12-31-2023
Canada | Bank Loans
1.5%
Hennessy Capital Acquisition Corp. II Term Loan 1st Lien
United States | Bank Loans
1.4%
Hyperion Insurance Group Ltd. Term Loan B 1st Lien F/R
United States | Bank Loans
1.3%

Complete Fund Holdings Help Full holdings list

As of January 31, 2017
Holding Name No. of Shares/Units Market Value CAD (000s) % of NAV
AGT Food and Ingredients Inc. 5.88% 12-21-2021 Callable 2018 1,080,000 1,107 0.2%
ASP MSG Acquisition Co. Inc. Term Loan 1st Lien F/R 08-04-2023 877,800 1,153 0.3%
Air Medical Group Holdings Inc. Term Loan B 1st Lien F/R 04-16-2022 365,219 475 0.1%
Albertsons LLC. Term Loan B4 1st Lien F/R 08-22-2021 315,708 414 0.1%
Alliant Holdings Intermediate LLC Term Loan B2 1st Lien F/R 08-14-2022 2,049,700 2,694 0.6%
Alpha 3 BV 6.25% 02-01-2025 Callable 2020 144A 370,000 485 0.1%
Alpha 3 BV Term Loan B1 1st Lien F/R 01-24-2024 1,600,000 2,097 0.5%
Amaya Holdings BV Term Loan 1st Lien F/R 08-01-2021 365,219 479 0.1%
American Bath Group LLC Term Loan 1st Lien F/R 09-30-2023 3,187,547 4,151 0.9%
American Bath Group LLC Term Loan 1st Lien F/R 09-30-2023 Delayed Draw 192,453 248 0.1%
American Beacon Advisors Inc. Term Loan 2nd Lien F/R 03-06-2023 750,000 978 0.2%
Asurion LLC Term Loan B4 1st Lien F/R 08-04-2022 363,797 479 0.1%
BMC Software Inc. Term Loan B 1st Lien F/R 09-11-2020 365,072 475 0.1%
Bellatrix Exploration Ltd. 8.50% 05-15-2020 Callable 2017 144A 1,090,000 1,392 0.3%
Berry Plastics Corp. Term Loan I 1st Lien F/R 10-01-2022 349,552 459 0.1%
Brookfield Asset Management Inc. 4.80% Pfd. Callable 2017 Series 30 1,598 36 0.0%
Brookfield Asset Management Inc. Pfd. Series 46 38,350 986 0.2%
CHS/Community Health Systems Inc. Term Loan H 1st Lien F/R 01-27-2021 353,996 437 0.1%
CSM Bakery Solutions LLC Term Loan 2nd Lien F/R 05-23-2021 2,320,000 2,295 0.5%
CSM NV Term Loan B F/R 05-23-2020 3,914,465 4,701 1.0%
CSP Technologies North America LLC Term Loan 1st Lien F/R 02-02-2022 2,839,509 3,737 0.8%
CTI Foods Holding Co. LLC Term Loan 1st Lien F/R 06-14-2020 280,545 360 0.1%
CTI Foods Holding Co. LLC Term Loan 2nd Lien F/R 06-14-2021 300,000 355 0.1%
CVR Partners LP 9.25% 06-15-2023 Callable 2019 144A 880,000 1,224 0.3%
Camelot Finance LP Term Loan B 1st Lien F/R 09-15-2023 4,757,950 6,253 1.4%
Camelot Finance SA 7.88% 10-15-2024 Callable 2019 144A 770,000 1,063 0.2%
Canada Housing Trust F/R 03-15-2021 20,000,000 20,056 4.5%
Canada Housing Trust No. 1 1.075% 09-15-2021 4,900,000 4,909 1.1%
CareCentrix Inc. Term Loan B 1st Lien F/R 07-08-2021 4,214,932 5,472 1.2%
Charter Communications Operating LLC Term Loan I 1st Lien F/R 01-15-2024 2,371,962 3,102 0.7%
Cision AB Term Loan B 1st Lien F/R 05-17-2023 3,084,250 4,018 0.9%
Commonwealth of Bahamas 5.75% 01-16-2024 620,000 809 0.2%
Communications Sales & Leasing Inc. Term Loan B 1st Lien F/R 10-24-2022 3,712,931 4,890 1.1%
Community Health Systems Inc. 7.125% 07-15-2020 Callable 670,000 721 0.2%
Computer Sciences Government Services Inc. Term Loan B 1st Lien F/R 10-29-2022 229,348 302 0.1%
Conn's Inc. 7.25% 07-15-2022 Callable 2017 1,070,000 1,205 0.3%
Constellation Brands Canada Inc. Term Loan B 1st Lien F/R 11-15-2023 2,710,000 3,575 0.8%
ConvergeOne Holdings Corp. Term Loan 1st Lien F/R 06-16-2020 1,565,985 2,035 0.5%
DBRS Ltd. Term Loan 1st Lien F/R 02-25-2022 2,053,351 2,485 0.6%
DHX Media Ltd. 5.875% 12-02-2021 Callable 2017 820,000 828 0.2%
Dell International LLC Term Loan B 1st Lien F/R 05-24-2022 5,300,000 6,965 1.6%
Diebold Inc. 8.5% 04-15-2024 Series WI 620,000 884 0.2%
Drive DeVilbiss (CD&R Reign Merger Sub Inc.) Term Loan 1st Lien F/R 12-21-2022 4,580,000 5,606 1.2%
Dynamic Energy Services International LLC Term Loan B 1st Lien F/R 03-05-2018 2,525,000 1,725 0.4%
Enbridge Inc. 4.00% Cum. Red. Pfd. Series B 66,800 1,217 0.3%
Energy Solutions LLC Term Loan B 1st Lien F/R 05-06-2020 3,295,135 4,342 1.0%
FBM Finance Inc. 8.25% 08-15-2021 Callable 2018 144A 1,345,000 1,875 0.4%
FCA US LLC Term Loan B 1st Lien F/R 05-24-2017 368,000 480 0.1%
FR Dixie Acquisition Corp. Term Loan B 1st Lien F/R 01-23-2021 3,889,504 3,290 0.7%
Fairmount Santrol Holdings Inc. Term Loan B2 1st Lien F/R 09-05-2019 4,431,378 5,652 1.3%
Flex Acquisition Co. Inc. Term Loan 1st Lien F/R 12-16-2023 3,460,000 4,546 1.0%
Flex Acquisition Co.Inc. 6.88% Callable 2020 144A 540,000 717 0.2%
Floor & Decor Outlets of America Inc. Term Loan 1st Lien F/R 09-29-2023 2,204,475 2,894 0.6%
Frontier Communications Corp. 11.00% 09-15-2025 Callable 2025 730,000 963 0.2%
Frontier Communications Corp. 6.875% 01-15-2025 Callable 2024 1,180,000 1,292 0.3%
Frontier Communications Corp. 8.75% 04-15-2022 1,310,000 1,723 0.4%
G-III Apparel Group Ltd. Term Loan B 1st Lien F/R 10-05-2022 2,988,571 3,812 0.8%
GFL Environmental Inc. 9.875% 02-01-2021 Callable 2018 144A 570,000 814 0.2%
GST AutoLeather Inc. Term Loan B 1st Lien F/R 06-03-2020 2,153,171 2,732 0.6%
Garda World Security Corp. 7.25% 11-15-2021 Callable 144A 700,000 872 0.2%
Garda World Security Corp. Term Loan B 1st Lien F/R 11-01-2020 4,398,723 4,223 0.9%
Gates Global LLC Term Loan 1st Lien F/R 07-03-2021 2,805,157 3,647 0.8%
Gateway Casinos & Entertainment Ltd. 8.50% 11-26-2020 Callable 144A 1,850,000 1,859 0.4%
Global Eagle Entertainment Inc. Term Loan 1st Lien F/R 12-22-2022 6,325,000 8,273 1.8%
Grande Communications Networks LLC Bridge Loan 05-20-2017 1,790,000 0.0%
Great Canadian Gaming Corp. 6.625% 07-25-2022 Callable 2017 144A 1,090,000 1,147 0.3%
Hardwoods Acquisition Inc. 7.50% 08-01-2021 Callable 2017 144A 180,000 206 0.0%
Highland Acquisition Holdings LLC Term Loan B 1st Lien F/R 11-23-2023 4,515,000 5,714 1.3%
Hilton Worldwide Finance LLC Term Loan B1 1st Lien F/R 10-26-2020 240,600 316 0.1%
Hyperion Insurance Group Ltd. Term Loan B 1st Lien F/R 03-26-2022 5,223,851 6,834 1.5%
Imagine! Print Solutions Inc. Term Loan B 1st Lien F/R 03-16-2022 2,317,071 3,072 0.7%
Inception Merger Sub Inc. 8.63% 11-15-2024 Callable 2019 144A 1,210,000 1,636 0.4%
Integro Ltd. United States Term Loan B1 1st Lien F/R 11-02-2022 4,606,596 5,965 1.3%
Intelsat Connect Finance SA 12.50% 04-01-2022 218,000 181 0.0%
Intelsat Jackson Holdings SA 7.25% 04-01-2019 Callable 330,000 370 0.1%
Intelsat Jackson Holdings SA Term Loan B2 1st Lien F/R 06-30-2019 400,000 513 0.1%
Intelsat Luxembourg SA 7.75% 06-01-2021 162,000 73 0.0%
International Equipment Solutions LLC Term Loan B 1st Lien F/R 07-25-2019 4,724,028 5,718 1.3%
Invenergy Thermal Operating I LLC Term Loan B 1st Lien F/R 10-09-2022 2,996,072 3,782 0.8%
JBS USA Lux SA Term Loan B 1st Lien F/R 10-30-2022 8,060,000 0.0%
Kindred Healthcare Inc. 8.00% 01-15-2020 Callable 710,000 919 0.2%
LD Intermediate Holdings Inc. Term Loan B 1st Lien F/R 12-08-2022 2,910,000 3,607 0.8%
Lanai Holdings III Inc. Term Loan B 1st Lien F/R 08-14-2022 931,792 1,216 0.3%
Lannett Co. Inc. Term Loan B 1st Lien F/R 11-25-2022 3,170,276 4,069 0.9%
Lantheus Medical Imaging Inc. Term Loan B 1st Lien F/R 06-30-2022 3,667,412 4,778 1.1%
Lee Enterprises Inc. 9.50% 03-15-2022 Callable 2018 144A 400,000 555 0.1%
Lions Gate Entertainment Corp. Term Loan B 1st Lien F/R 10-12-2023 2,555,000 3,354 0.7%
Livingston International Inc. Term Loan 2nd Lien F/R 04-18-2020 1,516,205 1,841 0.4%
Livingston International Inc. Term Loan B2 1st Lien F/R 04-18-2019 1,972,390 1,844 0.4%
MEG Energy Corp. Term Loan B 1st Lien F/R 12-31-2023 5,590,000 7,318 1.6%
MJ Acquisition Corp. Term Loan 1st Lien F/R 04-08-2022 365,219 478 0.1%
MWI Holdings Inc./Illinois Term Loan 1st Lien F/R 06-23-2020 1,168,464 1,530 0.3%
Mallinckrodt International Finance SA 5.625% 10-15-2023 Callable 2018 144A 420,000 483 0.1%
Manulife Bank of Canada F/R 06-01-2018 2,500,000 2,513 0.6%
Mattamy Group Corp. 6.50% 11-15-2020 Callable 144A 350,000 467 0.1%
Mexican Bonos 5.00% 12-11-2019 55,800,000 3,316 0.7%
Micron Technology Inc. Term Loan B 1st Lien F/R 04-26-2022 1,205,521 1,594 0.4%
Mission Broadcasting Inc. Term Loan B 1st Lien F/R 01-17-2024 110,516 142 0.0%
NWH Escrow Corp. 7.50% 08-01-2021 Callable 2017 144A 630,000 726 0.2%
Nexstar Broadcasting Group Inc. Term loan B 1st lien F/R 09-22-2023 1,199,484 1,579 0.4%
Nielsen Finance LLC Term Loan B3 1st Lien F/R 09-28-2023 698,250 916 0.2%
Novitex Acquisition LLC Term Loan 1st Lien F/R 07-01-2020 2,448,448 3,160 0.7%
Novitex Acquisition LLC Term Loan 2nd Lien F/R 07-01-2021 2,715,000 3,339 0.7%
Numericable-SFR 6.00% 05-15-2022 Callable 2017 144A 1,110,000 1,489 0.3%
Numericable-SFR SA 7.375% 05-01-2026 Callable 2021 144A 720,000 962 0.2%
Oxbow Carbon & Minerals LLC Term Loan B 2nd Lien F/R 01-19-2020 2,700,000 3,518 0.8%
PBF Holding Co 7.00% 11-15-2023 1,530,000 2,033 0.5%
Paradigm Acquisition Corp. Term Loan 1st Lien F/R 06-02-2022 2,496,109 3,243 0.7%
Parfums de Coeur Ltd. Term Loan 1st Lien F/R 06-30-2022 299,272 390 0.1%
Parkland Fuel Corp. 5.75% 09-16-2024 Callable 2019 730,000 756 0.2%
Parkland Fuel Corp. 6.00% 11-21-2022 Callable 2017 850,000 894 0.2%
Pattern Energy Group Inc. 5.88% 02-01-2024 Callable 2020 144A 280,000 372 0.1%
Petco Animal Supplies Inc. Term Loan B1 1st Lien F/R 01-26-2023 365,240 476 0.1%
Plaskolite Inc. Term Loan 1st Lien F/R 11-02-2022 1,389,341 1,821 0.4%
Plaskolite Inc. Term Loan 1st Lien F/R 11-03-2022 500,000 655 0.1%
Polycom Inc. Term Loan 1st Lien F/R 09-27-2023 3,046,512 3,994 0.9%
Power Products LLC Term Loan 1st Lien F/R 01-31-2023 4,240,000 5,490 1.2%
Presidio Inc./GA Term Loan 1st Lien F/R 02-02-2022 1,771,073 2,330 0.5%
Primeline Utility Services LLC Term Loan B 1st Lien F/R 11-12-2022 Preliminary 3,203,698 4,187 0.9%
Propulsion Acquisition LLC Term Loan 1st Lien F/R 06-18-2021 3,456,250 4,408 1.0%
Prospect Medical Holdings Inc. Term Loan B 1st Lien F/R 06-01-2022 3,950,517 5,128 1.1%
Province of Ontario F/R 03-16-2021 1,350,000 1,359 0.3%
Province of Ontario F/R 10-27-2021 4,900,000 4,884 1.1%
Q Holdings Co. Term Loan B 1st Lien F/R 12-18-2021 3,770,382 4,827 1.1%
QCP SNF West 8.125% 11-01-2023 Callable 2019 144A 1,250,000 1,649 0.4%
Quad Graphics Inc. 7.00% 05-01-2022 560,000 713 0.2%
Quicken Loans Inc. 5.75% 05-01-2025 Callable 2020 144A 730,000 916 0.2%
Ramundsen Holdings LLC (SunGard Puclic Sector) Term Loan 1st Lien F/R 02-01-2024 630,000 830 0.2%
Redbox Automated Retail LLC Term Loan 1st Lien F/R 09-26-2021 1,071,000 1,373 0.3%
Renfro Corp. Term Loan B 1st Lien F/R 01-30-2019 2,322,829 2,728 0.6%
Resolute Forest Products Inc. 5.875% 05-15-2023 1,020,000 1,164 0.3%
Riverbed Technology Inc. Term Loan 1st Lien F/R 04-27-2022 368,000 484 0.1%
SIG Combibloc US Acquisition Inc. Term Loan B 1st Lien F/R 03-13-2022 354,592 465 0.1%
Sage Automotive Holdings Inc. Term Loan 1st Lien F/R 10-27-2022 3,515,000 4,609 1.0%
Scientific Games International Inc. Term Loan B1 1st Lien F/R 10-18-2020 365,176 480 0.1%
Seahawk Holding Cayman Ltd. Term Loan 1st Lien F/R 09-27-2022 2,115,000 2,795 0.6%
Silversea Cruise Finance Ltd. 7.25% 02-01-2025 Callable 2020 144A 1,160,000 1,560 0.3%
Solenis International LP Term Loan 2nd Lien F/R 07-02-2022 1,290,000 1,665 0.4%
Solera LLC Term Loan B 1st Lien F/R 03-03-2023 225,000 296 0.1%
Source Energy Services Canada LP 10.50% 12-15-2021 Callable 2018 144A 1,920,000 2,146 0.5%
Star West Generation LLC Term Loan B 1st Lien F/R 03-13-2020 3,820,603 4,599 1.0%
Sybil Software LLC Term Loan 1st lien Term B F/R 08-03-2022 2,478,625 3,277 0.7%
Team Health Holdings Inc. Bridge Loan 05-05-2017 Sr. Unsecured 6,100,000 0.0%
Team Health Inc. Term Loan B 1st Lien F/R 11-23-2022 365,240 476 0.1%
Tembec Industries Inc. 9.00% 12-15-2019 Callable 144A 1,480,000 1,948 0.4%
Tenet Healthcare Corp. 6.75% 06-15-2023 1,020,000 1,256 0.3%
Tennessee Merger Sub Inc. 6.38% 02-01-2025 Callable 2020 144A 360,000 460 0.1%
Tennessee Merger Sub Inc. Term Loan B 1st Lien F/R 01-12-2024 3,845,000 5,004 1.1%
Tensar International Corp. Term Loan 2nd Lien F/R 07-09-2022 820,000 835 0.2%
Terex Corp. Term Loan 1st Lien F/R 01-27-2024 600,000 785 0.2%
The Men's Wearhouse Inc. 7.00% 07-01-2022 Callable 2017 345,000 422 0.1%
The Neiman Marcus Group Inc. Term Loan F/R 10-25-2020 365,184 396 0.1%
Toys R Us Property Co. I LLC Term Loan B F/R 08-21-2019 1,052,263 1,340 0.3%
TransAlta Corp. 5.00% 11-25-2020 650,000 679 0.2%
TransCanada Corp. 4.00% Pfd. Series 7 6,392 131 0.0%
TransCanada Corp. 4.25% First Pfd. Cum. Red. Series 9 5,413 116 0.0%
TransCanada Corp. Pfd. Series 15 96,849 2,465 0.5%
Travel Leaders Group LLC Term Loan B 1st Lien F/R 01-19-2024 3,430,000 4,531 1.0%
Tribune Media Co. Term Loan B 1st Lien F/R 12-27-2020 347,355 455 0.1%
TricorBraun Inc. (KRAIND) Delayed Draw Term loan 1st Lien F/R 11-28-2023 420,909 554 0.1%
TricorBraun Inc. (KRAIND) Term Loan 1st Lien F/R 11-28-2023 4,209,091 5,544 1.2%
U.S. Renal Care Inc. Term Loan 1st Lien F/R 12-31-2022 365,233 450 0.1%
US Farathane LLC Term Loan B 1st Lien F/R 12-23-2021 354,200 466 0.1%
US LBM Holdings LLC Term Loan 1st Lien F/R 08-20-2022 4,948,393 6,455 1.4%
Uber Technologies Inc. Term Loan B 1st Lien F/R 07-07-2023 7,612,500 9,982 2.2%
VCVH Holding Corp. Term Loan 1st Lien F/R 05-10-2023 3,039,725 3,956 0.9%
VRX Escrow Corp. 5.875% 05-15-2023 Callable 2018 144A 630,000 625 0.1%
Valeant Pharmaceuticals International Inc. 5.625% 12-01-2021 Callable 144A 559,000 578 0.1%
Verdesian Life Sciences LLC Term Loan 1st Lien F/R 06-25-2020 3,271,965 3,726 0.8%
Videotron Ltee 5.625% 06-15-2025 Callable 2025 21,000 22 0.0%
Wajax Corp. 6.125% 10-23-2020 Callable 2017 1,750,000 1,776 0.4%
WellDyneDx Inc. Term Loan 1st Lien F/R 10-12-2023 2,890,000 3,629 0.8%
Westcoast Energy Inc. 5.20% Cum. Red. First Pfd. Series 12 14,700 383 0.1%
Western Refining Inc. Term Loan B2 1st Lien F/R 05-27-2023 3,464,250 4,537 1.0%
Windstream Services LLC Term Loan 1st Lien F/R 03-18-2021 1,052,500 1,387 0.3%
Winnebago Industries Inc. Term Loan B 1st Lien F/R 11-02-2023 3,245,000 4,286 1.0%
Xerox Business Services LLC Term Loan B 1st Lien F/R 11-18-2023 3,430,000 4,548 1.0%
iQor US Inc. Term Loan 2nd Lien F/R 02-20-2022 2,600,000 2,955 0.7%
iQor US Inc. Term Loan B 1st Lien F/R 02-20-2021 5,032,144 6,292 1.4%
Total Investments -- 417,029 92.7%
Cash & Equivalents -- 44,479 10.1%
Currency Hedge Contracts -- 7,638 1.7%
Other Assets (Liabilities) -- -20,023 -4.5%
Total Net Assets -- 449,123 100.0%

Asset Allocation (%) Help Holdings by region and sector

As of March 31, 2017
  • Regional Allocation
      United States
    84.7%
      Canada
    11.4%
      Brazil
    2.1%
      Netherlands
    1.0%
      Sweden
    0.8%
      Cayman Islands
    0.8%
      Mexico
    0.7%
      Other
    0.6%
      Bahamas
    0.5%
      Luxembourg
    0.4%
      Cash & Equivalents -3.0%
  • Sector Allocation
      Bank Loans 87.8%
      Corporate Bonds 10.5%
      Equities 1.6%
      Provincial Bonds 1.2%
      Federal Bonds 1%
      Foreign Fixed Income 0.9%
      Cash & Equivalents -3%
Credit Allocation (%)
AAA 1%
AA 1.2%
A 0.7%
BBB 4.9%
BB 19.8%
B 54%
C 7.5%
NR 12.2%
Cash & Equivalents -3%
Equities 1.6%

Other Global 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

Movin Mokbel, MBA, CFA

Vice President, Portfolio Manager

Mackenzie Fixed Income Team

Investment experience since 2000

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

You can no longer purchase this fund under the US dollar settlement option.

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 S&P/LSTA Leveraged Loan Index (Hedged to CAD) is a broad index designed to reflect the performance of U.S. dollar facilities in the leverage loan market. The foreign currency exposure of the Index is hedged back to the Canadian dollar.

†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).