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 April 30, 2017
Major holdings represent 42.8% of the fund.
View all holdings
Total # of
Equity Holdings
7
Total # of
Fixed Income Holdings
82
Holding name, country and sector Percentage of holding in fund
Province of Ontario F/R 10-27-2021
Canada | Provincial Governments
6.8%
Canada Housing Trust No. 1 1.08%
Canada | Federal Government
6.6%
Manulife Bank of Canada F/R 06-01-2018
Canada | Corporate - Non Convertible
4.4%
Toyota Credit Canada Inc. F/R 02-25-2019
Canada | Corporate - Non Convertible
3.6%
Daimler Canada Finance Inc. F/R 07-08-2019
Canada | Corporate - Non Convertible
3.6%
Royal Bank of Canada F/R 02-11-2020
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%
The Bank of Nova Scotia F/R 04-20-2018
Canada | Corporate - Non Convertible
3.6%
National Bank of Canada F/R 06-14-2018
Canada | Corporate - Non Convertible
3.6%

Complete Fund Holdings Help Full holdings list

As of February 28, 2017
Holding Name No. of Shares/Units Market Value CAD (000s) % of NAV
Alimentation Couche-Tard Inc. 3.32% 11-01-2019 Callable 480,000 501 0.9%
AltaGas Ltd. Pfd. Series K 7,600 190 0.3%
ASP MSG Acquisition Co. Inc. Term Loan 1st Lien F/R 08-16-2023 89,775 120 0.2%
Bank of Montreal 1.61% 10-28-2021 DPNT 250,000 248 0.4%
Bank of Montreal 1.88% 03-31-2021 DPNT 180,000 181 0.3%
Bank of Montreal 3.32% 06-01-2026 500,000 517 0.9%
Bank of Montreal 3.34% 12-08-2025 Callable 2020 420,000 434 0.8%
Bank of Montreal F/R 04-11-2019 1,000,000 1,004 1.8%
Bellatrix Exploration Ltd. 8.50% 05-15-2020 Callable 2017 100,000 130 0.2%
BMW Canada Inc. F/R 06-14-2019 2,000,000 2,014 3.6%
Brookfield Asset Management Inc. Pfd. Series 46 5,487 142 0.3%
Brookfield Renewable Partners LP Pfd. Series 11 8,380 208 0.4%
Camelot Finance LP Term Loan B 1st Lien F/R 09-15-2023 149,625 201 0.4%
Canada Housing Trust No. 1 1.08% 09-15-2021 3,700,000 3,711 6.6%
Canadian Imperial Bank of Commerce 3.42% 01-26-2026 Callable 2021 30,000 31 0.1%
Canadian Imperial Bank of Commerce F/R 01-17-2019 2,000,000 2,002 3.6%
Canadian Imperial Bank of Commerce F/R 3.00% 10-28-2024 Callable 2019 70,000 71 0.1%
Cards II Trust 2.155% 10-15-2020 440,000 449 0.8%
Cision AB Term Loan B 1st Lien F/R 06-16-2023 99,500 133 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 215,211 287 0.5%
ConvergeOne Holdings Corp. Term Loan 1st Lien F/R 06-16-2020 49,872 66 0.1%
CSP Technologies North America LLC Term Loan 1st Lien F/R 02-02-2022 233,408 315 0.6%
Daimler Canada Finance Inc. F/R 07-08-2019 2,000,000 2,017 3.6%
Dell International LLC Term Loan 1st Lien F/R 09-07-2023 159,600 214 0.4%
Drive DeVilbiss Healthcare Ltd. Term Loan 1st Lien F/R 12-21-2022 90,000 112 0.2%
Enbridge Inc. 4.00% Cum. Red. Pfd. Series B 4,590 83 0.1%
EnerCare Solutions Inc. 3.38% 02-21-2022 Callable 2022 130,000 132 0.2%
Ford Auto Securitization Trust 1.381% 03-15-2018 3,604 4 0.0%
Fortified Trust 1.67% 07-23-2021 180,000 179 0.3%
Futures Contracts 5 0.0%
Garda World Security Corp. Term Loan B 1st Lien F/R 11-01-2020 381,195 366 0.7%
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 170,000 217 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 119,374 155 0.3%
H&R Real Estate Investment Trust F/R 07-23-2019 1,800,000 1,808 3.2%
HCN Canadian Holdings-1 LP 3.35% 11-25-2020 160,000 167 0.3%
Heathrow Funding Ltd. 3.25% 05-21-2025 40,000 41 0.1%
Hennessy Capital Acquisition Corp. II Delayed Draw Term Loan 1st Lien F/R 02-03-2024 45,714 61 0.1%
Hennessy Capital Acquisition Corp. II Term Loan 1st Lien F/R 02-03-2024 114,286 153 0.3%
Hollis Receivables Term Trust II 2.434% 06-26-2019 450,000 461 0.8%
Honda Canada Finance Inc. 2.155% 02-18-2021 170,000 172 0.3%
Honda Canada Finance Inc. F/R 04-17-2020 1,750,000 1,757 3.1%
HSBC Bank Canada F/R 04-28-2017 2,000,000 2,001 3.6%
Hydro One Inc. F/R 03-21-2019 2,000,000 2,006 3.6%
Innocor Inc. Term Loan 1st Lien F/R 02-02-2024 130,000 173 0.3%
Integro Ltd. United States Term Loan B1 1st Lien F/R 11-02-2022 197,337 263 0.5%
Inter Pipeline Ltd. F/R 05-30-2017 2,000,000 2,001 3.6%
iQor US Inc. Term Loan B 1st Lien F/R 04-01-2021 49,872 64 0.1%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $85.00 Exp. 05-19-2017 130 10 0.0%
JBS USA Lux SA Term Loan B 1st Lien F/R 10-30-2022 170,000 227 0.4%
Lantheus Medical Imaging Inc. Term Loan B 1st Lien F/R 06-30-2022 139,552 186 0.3%
LD Intermediate Holdings Inc. Term Loan B 1st Lien F/R 12-08-2022 80,000 102 0.2%
Manulife Bank of Canada F/R 06-01-2018 2,500,000 2,510 4.5%
Merrill Lynch Canada Inc. 1.30% 08-01-2021 447,685 444 0.8%
Merrill Lynch Canada Inc. 1.40% 05-01-2021 246,610 246 0.4%
Mexican Bonos 5.00% 12-11-2019 12,690,000 799 1.4%
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 2,010 3.6%
Nissan Motor Acceptance Corp. F/R 01-13-2020 1,450,000 1,930 3.4%
Novitex Acquisition LLC Term Loan 1st Lien F/R 07-01-2020 339,898 448 0.8%
Ontario Electricity Financial Corp. 0% 11-27-2020 370,000 348 0.6%
Polycom Inc. Term Loan 1st Lien F/R 09-27-2023 94,708 127 0.2%
Province of Ontario F/R 10-27-2021 3,850,000 3,846 6.7%
Q Holding Co. Term Loan B 1st Lien F/R 12-18-2021 99,746 134 0.2%
Renfro Corp. Term Loan B 1st Lien F/R 01-30-2019 371,922 452 0.8%
REP WWEX Acquisition Parent LLC Term Loan 1st Lien F/R 02-02-2024 130,000 175 0.3%
Royal Bank of Canada 1.65% 07-15-2021 310,000 308 0.5%
Royal Bank of Canada 2.33% 12-05-2023 DPNT 120,000 121 0.2%
Royal Bank of Canada F/R 02-11-2020 2,000,000 2,011 3.6%
Sage Automotive Holdings Inc. Term Loan 1st Lien F/R 10-27-2022 110,000 147 0.3%
Seahawk Holding Cayman Ltd. Term Loan 1st Lien F/R 11-01-2022 69,825 94 0.2%
Select Medical Corp. Term Loan B 1st Lien F/R 02-09-2024 80,000 107 0.2%
Team Health Holdings Inc. Term Loan B 1st Lien F/R 02-06-2024 100,000 133 0.2%
The Bank of Nova Scotia F/R 04-20-2018 2,000,000 2,010 3.6%
The Chemours Co. Term Loan B 1st Lien F/R 05-07-2022 94,680 127 0.2%
The Toronto-Dominion Bank 1.68% 06-08-2021 DPNT 180,000 180 0.3%
The Toronto-Dominion Bank F/R 02-18-2020 2,000,000 2,013 3.6%
Toyota Credit Canada Inc. F/R 02-25-2019 2,000,000 2,030 3.6%
Toys R Us Property Co. I LLC Term Loan B F/R 08-21-2019 102,377 132 0.2%
TransAlta Corp. Pfd. Series A 6,990 92 0.2%
TransCanada Corp. 4.00% Pfd. Series 7 915 20 0.0%
TransCanada Corp. Pfd. Series 15 13,852 356 0.6%
Uber Technologies Inc. Term Loan B 1st Lien F/R 07-07-2023 219,775 294 0.5%
US LBM Holdings LLC Term Loan 1st Lien F/R 08-20-2022 237,474 316 0.6%
VW Credit Canada Inc. 2.45% 11-14-2017 90,000 91 0.2%
VW Credit Canada Inc. F/R 04-03-2017 2,000,000 2,000 3.6%
WellDyneDx Inc. Term Loan 1st Lien F/R 10-12-2023 90,000 115 0.2%
Western Refining Inc. Term Loan B2 1st Lien F/R 05-27-2023 111,750 149 0.3%
Winnebago Industries Inc. Term Loan B 1st Lien F/R 11-08-2023 80,000 108 0.2%
Total Investments -- 55,323 98.3%
Cash & Equivalents -- 583 1.0%
Currency Hedge Contracts -- -75 -0.1%
Other Assets (Liabilities) -- 455 0.8%
Total Net Assets -- 56,286 100.0%

Asset Allocation (%) Help Holdings by region and sector

As of April 30, 2017
  • Regional Allocation
      Canada
    73.6%
      United States
    9.2%
      Japan
    6.9%
      Germany
    3.6%
      Mexico
    1.6%
      Sweden
    0.2%
      Luxembourg
    0.2%
      United Kingdom
    0.1%
      Cash & Equivalents 4.6%
  • Sector Allocation
      Corporate Bonds 66.8%
      Bank Loans 9.4%
      Provincial Bonds 7.4%
      Federal Bonds 6.8%
      Cash & Equivalents 4.6%
      Equities 1.8%
      Mortgage Backed 1.6%
      Foreign Fixed Income 1.6%
Credit Allocation (%)
AAA 12.5%
AA 29%
A 33%
BBB 10.1%
BB 1.8%
B 6%
C 0%
NR 1.1%
Cash & Equivalents 4.6%
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).