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 July 31, 2017
Major holdings represent 44% of the fund.
View all holdings
Total # of
Equity Holdings
5
Total # of
Fixed Income Holdings
76
Holding name, country and sector Percentage of holding in fund
Province of Ontario F/R 06-27-2022
Canada | Provincial Governments
7.0%
Canada Housing Trust No. 1 1.08%
Canada | Federal Government
6.8%
Manulife Bank of Canada F/R 06-01-2018
Canada | Corporate - Non Convertible
4.6%
Toyota Credit Canada Inc. F/R 02-25-2019
Canada | Corporate - Non Convertible
3.7%
Daimler Canada Finance Inc. F/R 07-08-2019
Canada | Corporate - Non Convertible
3.7%
The Toronto-Dominion Bank F/R 02-18-2020
Canada | Corporate - Non Convertible
3.7%
Royal Bank of Canada F/R 02-11-2020
Canada | Corporate - Non Convertible
3.7%
BMW Canada Inc. F/R 06-14-2019
Germany | Corporate - Non Convertible
3.7%
The Bank of Nova Scotia F/R 04-20-2018
Canada | Corporate - Non Convertible
3.7%
Hydro One Inc. F/R 03-21-2019
Canada | Corporate - Non Convertible
3.7%

Complete Fund Holdings Help Full holdings list

As of May 31, 2017
Holding Name No. of Shares/Units Market Value CAD (000s) % of NAV
AltaGas Ltd. Pfd. Series K 7,600 196 0.3%
AMS FinCo SARL Term Loan 1st Lien F/R 05-17-2024 40,000 54 0.1%
ASP AMC Merger Sub Inc. Term Loan 1st Lien F/R 04-13-2024 78,675 106 0.2%
Bank of Montreal 1.61% 10-28-2021 DPNT 250,000 249 0.4%
Bank of Montreal 1.88% 03-31-2021 DPNT 90,000 91 0.2%
Bank of Montreal 3.32% 06-01-2026 500,000 520 0.9%
Bank of Montreal 3.34% 12-08-2025 Callable 2020 420,000 436 0.8%
Bank of Montreal F/R 04-11-2019 1,000,000 1,005 1.8%
BMW Canada Inc. F/R 06-14-2019 2,000,000 2,016 3.6%
Brookfield Asset Management Inc. Pfd. Series 46 5,487 143 0.3%
Brookfield Renewable Partners LP Pfd. Series 11 8,380 211 0.4%
Canada Housing Trust No. 1 1.08% 09-15-2021 3,700,000 3,722 6.6%
Canadian Imperial Bank of Commerce 2.04% 03-21-2022 190,000 192 0.3%
Canadian Imperial Bank of Commerce 3.42% 01-26-2026 Callable 2021 50,000 52 0.1%
Canadian Imperial Bank of Commerce F/R 01-17-2019 2,000,000 2,005 3.6%
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 440,000 449 0.8%
CenturyLink Inc. Term Loan B 1st Lien F/R 01-31-2025 140,000 189 0.3%
Cision AB Term Loan B 1st Lien F/R 06-16-2023 99,250 135 0.2%
Citigroup Inc. 3.39% 11-18-2021 50,000 53 0.1%
Communications Sales & Leasing Inc. Term Loan B 1st Lien F/R 10-24-2022 214,673 291 0.5%
ConvergeOne Holdings Corp. Term Loan 1st Lien F/R 06-16-2020 49,744 67 0.1%
CSP Technologies North America LLC Term Loan B 1st Lien F/R 01-29-2022 232,810 320 0.6%
Currency Put Option EUR/JPY 06-07-2017 Strike 118.00 1,200,000 0.0%
Daimler Canada Finance Inc. F/R 07-08-2019 2,000,000 2,021 3.6%
Dayco Products LLC Term Loan B 1st Lien F/R 05-04-2023 120,000 162 0.3%
Dell International LLC Term Loan 1st Lien F/R 09-07-2023 159,201 217 0.4%
Dollarama Inc. F/R 03-16-2020 1,000,000 1,004 1.8%
Drive DeVilbiss Healthcare Ltd. Term Loan 1st Lien F/R 12-21-2022 89,438 118 0.2%
Enbridge Inc. 4.00% Cum. Red. Pfd. Series B 840 15 0.0%
EnerCare Solutions Inc. 3.38% 02-21-2022 Callable 2022 130,000 133 0.2%
Ford Auto Securitization Trust 1.42% 04-15-2021 17-R2 750,000 751 1.3%
Fortified Trust 1.67% 07-23-2021 180,000 181 0.3%
Futures Contracts -12 0.0%
Garda World Security Corp. Term Loan B 1st Lien F/R 05-03-2024 409,000 498 0.9%
Gaz Metro Inc. 1.52% 05-25-2020 60,000 60 0.1%
Genesis Trust II 1.675% 09-17-2018 280,000 282 0.5%
Global Eagle Entertainment Inc. Term Loan 1st Lien F/R 12-22-2022 170,000 215 0.4%
Government of Canada 2.75% 06-01-2022 120,000 130 0.2%
GST AutoLeather Inc. Term Loan B 1st Lien F/R 07-11-2020 119,277 159 0.3%
H&R Real Estate Investment Trust F/R 07-23-2019 1,800,000 1,815 3.2%
HCN Canadian Holdings-1 LP 3.35% 11-25-2020 160,000 168 0.3%
Heathrow Funding Ltd. 3.25% 05-21-2025 40,000 43 0.1%
Hennessy Capital Acquisition Corp. II Term Loan 1st Lien F/R 02-03-2024 114,286 156 0.3%
Hennessy Capital Acquisition Corp. II Term Loan Delayed Draw 1st Lien F/R 02-03-2024 45,714 62 0.1%
Hollis Receivables Term Trust II 2.434% 06-26-2019 450,000 460 0.8%
Honda Canada Finance Inc. 2.27% 07-15-2022 130,000 133 0.2%
Honda Canada Finance Inc. F/R 04-17-2020 1,750,000 1,759 3.1%
Hydro One Inc. F/R 03-21-2019 2,000,000 2,010 3.6%
Hyster-Yale Group Inc. Term Loan B 1st Lien F/R 05-22-2023 120,000 163 0.3%
Innocor Inc. Term Loan 1st Lien F/R 02-02-2024 130,000 176 0.3%
Integro Ltd. United States Term Loan B1 1st Lien F/R 11-02-2022 196,839 266 0.5%
Interior Logic Group Inc. Term Loan B 1st Lien F/R 02-27-2024 110,000 147 0.3%
iQor US Inc. Term Loan B 1st Lien F/R 04-01-2021 49,745 67 0.1%
JBS USA Lux SA Term Loan B 1st Lien F/R 10-30-2022 40,000 53 0.1%
John Deere Canada Funding Inc. 1.85% 03-24-2021 60,000 60 0.1%
KEMET Corp. Term Loan B 1st Lien F/R 04-21-2024 160,000 216 0.4%
Keystone Peer Review Organization Holdings Inc. Term Loan 1st Lien F/R 05-10-2024 40,000 53 0.1%
Lantheus Medical Imaging Inc. Term Loan B 1st Lien F/R 06-30-2022 140,000 190 0.3%
Laurentian Bank of Canada F/R 04-24-2019 750,000 1,014 1.8%
LD Intermediate Holdings Inc. Term Loan B 1st Lien F/R 12-08-2022 79,500 103 0.2%
Manulife Bank of Canada F/R 06-01-2018 2,500,000 2,509 4.5%
Merrill Lynch Canada Inc. 1.30% 08-01-2021 439,684 439 0.8%
Merrill Lynch Canada Inc. 1.62% 03-01-2022 455,254 458 0.8%
Mexican Bonos 5.00% 12-11-2019 12,690,000 872 1.6%
Molson Coors International LP 2.25% 09-18-2018 280,000 283 0.5%
National Bank of Canada F/R 06-14-2018 DPNT 2,000,000 2,008 3.6%
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 1,002 1.8%
Nissan Motor Acceptance Corp. F/R 01-13-2020 1,450,000 1,964 3.5%
Ontario Electricity Financial Corp. 0% 11-27-2020 370,000 352 0.6%
Polycom Inc. Term Loan 1st Lien F/R 09-27-2023 90,217 124 0.2%
Province of Ontario F/R 10-27-2021 3,850,000 3,865 6.9%
Q Holding Co. Term Loan B 1st Lien F/R 12-18-2021 99,491 135 0.2%
Renfro Corp. Term Loan B 1st Lien F/R 01-30-2019 369,620 489 0.9%
REP WWEX Acquisition Parent LLC Term Loan 1st Lien F/R 02-02-2024 130,000 176 0.3%
Royal Bank of Canada 2.00% 03-21-2022 340,000 343 0.6%
Royal Bank of Canada 2.33% 12-05-2023 DPNT 120,000 122 0.2%
Royal Bank of Canada F/R 02-11-2020 2,000,000 2,015 3.6%
Sage Automotive Holdings Inc. Term Loan 1st Lien F/R 10-27-2022 109,725 149 0.3%
Select Medical Corp. Term Loan B 1st Lien F/R 02-09-2024 60,000 82 0.1%
Tempo Acquisition LLC Term Loan B 1st Lien F/R 04-21-2024 40,000 54 0.1%
The Bank of Nova Scotia F/R 04-20-2018 2,000,000 2,009 3.6%
The Toronto-Dominion Bank 1.68% 06-08-2021 Covered 180,000 181 0.3%
The Toronto-Dominion Bank F/R 02-18-2020 2,000,000 2,016 3.6%
Toyota Credit Canada Inc. F/R 02-25-2019 2,000,000 2,029 3.6%
Toys R Us Property Co. I LLC Term Loan B F/R 08-21-2019 99,018 129 0.2%
TransAlta Corp. Pfd. Series A 6,476 83 0.1%
TransCanada Corp. 4.00% Pfd. Series 7 575 12 0.0%
TransCanada Corp. Pfd. Series 15 13,852 361 0.6%
VW Credit Canada Inc. 2.45% 11-14-2017 90,000 90 0.2%
WellDyneDx Inc. Term Loan 1st Lien F/R 10-12-2023 100,000 132 0.2%
Western Refining Inc. Term Loan B2 1st Lien F/R 05-27-2023 111,375 151 0.3%
Winnebago Industries Inc. Term Loan B 1st Lien F/R 11-08-2023 79,200 108 0.2%
Total Investments -- 52,403 93.1%
Cash & Equivalents -- 4,267 7.7%
Currency Hedge Contracts -- -18 0.0%
Other Assets (Liabilities) -- -451 -0.8%
Total Net Assets -- 56,201 100.0%

Asset Allocation (%) Help Holdings by region and sector

As of July 31, 2017
  • Regional Allocation
      Canada
    75.9%
      United States
    6.5%
      Germany
    3.7%
      Japan
    3.3%
      Mexico
    1.6%
      United Kingdom
    0.1%
      Cash & Equivalents 8.9%
  • Sector Allocation
      Corporate Bonds 65.4%
      Cash & Equivalents 8.9%
      Provincial Bonds 7.6%
      Federal Bonds 7%
      Bank Loans 6.5%
      Equities 1.8%
      Foreign Fixed Income 1.6%
      Mortgage Backed 1.2%
Credit Allocation (%)
AAA 12.3%
AA 32.9%
A 30.1%
BBB 7.4%
BB 1.4%
B 4.4%
C 0.3%
NR 0.4%
Cash & Equivalents 8.9%
Equities 1.8%

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).