Fund Portfolio – Mackenzie Investment Grade Floating Rate Fund Series A MFC4721 MFC7229 MFC4722 | Mackenzie Investments

Mackenzie Investment Grade Floating Rate Fund Series A

Asset Class: Canadian Fixed Income

Major Holdings (%) Help Top holdings by percentage

As of October 31, 2017
Major holdings represent 44% of the fund.
View all holdings
Total # of
Equity Holdings
6
Total # of
Fixed Income Holdings
88
Holding name, country and sector Percentage of holding in fund
Canada Housing Trust F/R 09-15-2023
Canada | Federal Government
10.8%
Manulife Bank of Canada F/R 06-01-2018
Canada | Corporate - Non Convertible
4.5%
Royal Bank of Canada F/R 02-11-2020
Canada | Corporate - Non Convertible
3.6%
Daimler Canada Finance Inc. F/R 07-08-2019
Canada | Corporate - Non Convertible
3.6%
The Toronto-Dominion Bank F/R 02-18-2020
Canada | Corporate - Non Convertible
3.6%
BMW Canada Inc. F/R 06-14-2019
Germany | Corporate - Non Convertible
3.6%
Central 1 Credit Union F/R 11-21-2018
Canada | Corporate - Non Convertible
3.6%
Hydro One Inc. F/R 03-21-2019
Canada | Corporate - Non Convertible
3.6%
National Bank of Canada F/R 06-14-2018
Canada | Corporate - Non Convertible
3.6%
Toyota Credit Cabada Inc. F/R 10-13-2020
Canada | Corporate - Non Convertible
3.6%

Complete Fund Holdings Help Full holdings list

As of August 31, 2017
Holding Name No. of Shares/Units Market Value CAD (000s) % of NAV
AltaGas Ltd. Pfd. Series K 7,600 196 0.4%
Arch Merger Sub Inc. 8.50% 09-15-2025 Callable 2020 80,000 97 0.2%
Bank of Montreal 1.61% 10-28-2021 DPNT 250,000 245 0.4%
Bank of Montreal 1.88% 03-31-2021 DPNT 90,000 89 0.2%
Bank of Montreal 3.32% 06-01-2026 500,000 512 0.9%
Bank of Montreal 3.34% 12-08-2025 Callable 2020 420,000 431 0.8%
Bank of Montreal F/R 04-11-2019 1,000,000 1,004 1.8%
BMW Canada Inc. F/R 06-14-2019 2,000,000 2,014 3.7%
Brookfield Asset Management Inc. Pfd. Series 46 5,487 142 0.3%
Brookfield Renewable Partners LP Pfd. Series 11 8,380 211 0.4%
Can Am Construction Inc./Canada Term Loan B 1st Lien F/R 06-29-2024 120,000 150 0.3%
Canada Goose Inc. Term Loan 1st Lien F/R 08-14-2021 110,000 136 0.2%
Canada Housing Trust F/R 09-15-2022 6,630,000 6,644 12.5%
Canada Housing Trust No. 1 2.40% 12-15-2022 710,000 727 1.3%
Canadian Imperial Bank 2.30% 07-11-2022 Series DPNT 190,000 190 0.3%
Canadian Imperial Bank of Commerce 3.42% 01-26-2026 Callable 2021 50,000 51 0.1%
Canadian Imperial Bank of Commerce F/R 01-17-2019 2,000,000 2,007 3.7%
Canadian Imperial Bank of Commerce F/R 3.00% 10-28-2024 Callable 2019 50,000 51 0.1%
Cards II Trust 2.155% 10-15-2020 440,000 443 0.8%
Careerbuilder LLC Term Loan 1st Lien F/R 07-27-2023 120,000 147 0.3%
Citigroup Inc. 3.39% 11-18-2021 50,000 52 0.1%
Communications Sales & Leasing Inc. Term Loan B 1st Lien F/R 10-24-2022 214,135 259 0.5%
ConvergeOne Holdings Corp. Term Loan B 1st Lien F/R 06-02-2024 11,000 14 0.0%
CSP Technologies North America LLC Term Loan B 1st Lien F/R 01-29-2022 232,211 292 0.5%
Currency Call Option USD/CAD 09-22-2017 Strike 1.35 902,500 0.0%
Currency Call Option USD/CAD 09-25-2017 Strike 1.35 445,500 0.0%
Daimler Canada Finance Inc. F/R 07-08-2019 2,000,000 2,017 3.7%
Dollarama Inc. F/R 03-16-2020 1,000,000 1,004 1.8%
Enbridge Inc. 3.19% 12-05-2022 590,000 604 1.1%
EnerCare Solutions Inc. 3.38% 02-21-2022 Callable 2022 130,000 132 0.2%
Ford Auto Securitization Trust 1.42% 04-15-2021 17-R2 750,000 740 1.4%
Fortified Trust 1.67% 07-23-2021 180,000 177 0.3%
Frontier Communications Corp. Term Loan B 1st Lien F/R 06-01-2024 140,000 167 0.3%
Futures Contracts -13 0.0%
Garda World Security Corp. Term Loan B 1st Lien F/R 05-03-2024 159,600 160 0.3%
Gaz Metro Inc. 1.52% 05-25-2020 60,000 60 0.1%
Genesis Trust II 1.675% 09-17-2018 280,000 280 0.5%
Global Eagle Entertainment Inc. Term Loan 1st Lien F/R 01-06-2023 98,938 120 0.2%
Government of Canada 2.75% 06-01-2022 120,000 127 0.2%
Green Plains Inc. Term Loan B 1st Lien F/R 08-08-2023 70,000 88 0.2%
GST AutoLeather Inc. Term Loan B 1st Lien F/R 07-11-2020 119,277 126 0.2%
H&R Real Estate Investment Trust F/R 07-23-2019 1,800,000 1,812 3.3%
HCN Canadian Holdings-1 LP 3.35% 11-25-2020 160,000 165 0.3%
Heathrow Funding Ltd. 3.25% 05-21-2025 40,000 41 0.1%
Hennessy Capital Acquisition Corp. II Term Loan 1st Lien F/R 02-03-2024 148,835 188 0.3%
Hennessy Capital Acquisition Corp. II Term Loan Delayed Draw 1st Lien F/R 02-03-2024 10,834 14 0.0%
Hollis Receivables Term Trust II 2.434% 06-26-2019 450,000 455 0.8%
HSBC Bank of Canada 2.17% 06-29-2022 DPNT 1,880,000 1,863 3.4%
Hydro One Inc. F/R 03-21-2019 2,000,000 2,007 3.7%
Hyster-Yale Group Inc. Term Loan B 1st Lien F/R 05-22-2023 120,000 151 0.3%
Innocor Inc. Term Loan 1st Lien F/R 02-02-2024 129,675 150 0.3%
Interior Logic Group Inc. Term Loan B 1st Lien F/R 02-27-2024 108,625 136 0.2%
iQor US Inc. Term Loan B 1st Lien F/R 04-01-2021 49,617 62 0.1%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $85.00 Exp. 03/16/18 4 1 0.0%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $86.00 Exp. 11/17/17 5 0.0%
Jane Street Group LLC Term Loan B 1st Lien F/R 08-10-2022 80,000 101 0.2%
John Deere Canada Funding Inc. 1.85% 03-24-2021 60,000 59 0.1%
JPW Industries Bridge Loan 10-28-2017 60,000 0.0%
KEMET Corp. Term Loan B 1st Lien F/R 04-21-2024 160,000 201 0.4%
Laurentian Bank of Canada F/R 04-24-2019 750,000 940 1.7%
LifeMiles Ltd. Term Loan B 1st Lien F/R 08-17-2022 60,000 76 0.1%
Manulife Bank of Canada F/R 06-01-2018 2,500,000 2,509 4.6%
Mexican Bonos 5.00% 12-11-2019 12,690,000 854 1.6%
Molson Coors International LP 2.25% 09-18-2018 280,000 281 0.5%
National Bank of Canada F/R 06-14-2018 DPNT 2,000,000 2,007 3.7%
Nissan Canada Financial Services Inc. 1.75% 04-09-2020 60,000 60 0.1%
Nissan Canada Financial Services Inc. F/R 04-09-2019 1,000,000 1,003 1.8%
Nissan Motor Acceptance Corp. F/R 01-13-2020 1,450,000 1,819 3.3%
Ontario Electricity Financial Corp. 0% 11-27-2020 370,000 348 0.6%
PNI Canada Acquireco Corp. Term Loan B 1st Lien F/R 08-23-2022 50,000 60 0.1%
REP WWEX Acquisition Parent LLC Term Loan 1st Lien F/R 02-02-2024 129,675 163 0.3%
Royal Bank of Canada 2.00% 03-21-2022 340,000 337 0.6%
Royal Bank of Canada 2.33% 12-05-2023 DPNT 120,000 119 0.2%
Royal Bank of Canada F/R 02-11-2020 2,000,000 2,018 3.7%
Sage Automotive Holdings Inc. Term Loan 1st Lien F/R 10-27-2022 109,450 138 0.3%
Saputo Inc. 1.94% 06-13-2022 Callable 2022 80,000 78 0.1%
Securus Technologies Holdings Inc. Term Loan 1st Lien F/R 06-20-2024 17,500 22 0.0%
STAPLES INC. BRIDGE LOAN 12/28/17 SR. UNSECURED 220,000 0.0%
Staples Inc. Term Loan 1st Lien F/R 08-15-2024 100,000 124 0.2%
The Bank of Nova Scotia F/R 04-20-2018 2,000,000 2,007 3.7%
The Toronto-Dominion Bank 1.68% 06-08-2021 Covered 180,000 178 0.3%
The Toronto-Dominion Bank F/R 02-18-2020 2,000,000 2,018 3.7%
Toyota Credit Canada Inc. F/R 02-25-2019 2,000,000 2,028 3.7%
TransAlta Corp. Pfd. Series A 6,825 98 0.2%
TransCanada Corp. Pfd. Series 15 13,852 360 0.7%
VW Credit Canada Inc. 2.45% 11-14-2017 90,000 90 0.2%
YRC Worldwide Inc. Term Loan 1st Lien F/R 07-21-2022 78,000 97 0.2%
Total Investments -- 49,131 90.0%
Cash & Equivalents -- 5,213 9.6%
Currency Hedge Contracts -- 491 0.9%
Other Assets (Liabilities) -- -284 -0.5%
Total Net Assets -- 54,551 100.0%

Asset Allocation (%) Help Holdings by region and sector

As of November 30, 2017
  • Regional Allocation
      Canada
    80.6%
      United States
    9.2%
      Germany
    3.6%
      Japan
    3.4%
      Mexico
    1.5%
      United Kingdom
    0.2%
      Netherlands
    0.1%
      Colombia
    0.1%
      Cash & Equivalents 1.3%
  • Sector Allocation
      Corporate Bonds 78.6%
      Federal Bonds 10.1%
      Bank Loans 6.5%
      Equities 2%
      Foreign Fixed Income 1.5%
      Cash & Equivalents 1.3%
      Mutual&Pooled 0%
Credit Allocation (%)
AAA 13.8%
AA 24.7%
A 37.9%
BBB 13.2%
BB 1.7%
B 4.8%
CCC & Below 0.3%
NR 0.4%
Cash & Equivalents 1.4%
Equities 2%

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

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

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 Floating Rate Note Index comprises Canadian dollar-denominated, government or corporate floating rate bonds having a face value of $300 million or more, a remaining terms to maturity of at least three months, and a rating of A 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).