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, 2018
Major holdings represent 37.6% of the fund.
View all holdings
Total # of
Equity Holdings
6
Total # of
Fixed Income Holdings
135
Holding name, country and sector Percentage of holding in fund
The Toronto-Dominion Bank F/R 02-18-2020
Canada | Corporate - Non Convertible
3.8%
Canada Housing Trust No. 1 F/R 03-15-2023
Canada | Federal Government
3.8%
Daimler Canada Finance Inc. F/R 07-08-2019
Canada | Corporate - Non Convertible
3.8%
Royal Bank of Canada F/R 02-11-2020
Canada | Corporate - Non Convertible
3.8%
Dollarama Inc. F/R 03-16-2020
Canada | Corporate - Non Convertible
3.8%
BMW Canada Inc. F/R 06-14-2019
Germany | Corporate - Non Convertible
3.8%
Central 1 Credit Union F/R 11-21-2018
Canada | Corporate - Non Convertible
3.8%
Hydro One Inc. F/R 03-21-2019
Canada | Corporate - Non Convertible
3.8%
Toyota Credit Cabada Inc. F/R 10-13-2020
Canada | Corporate - Non Convertible
3.8%
Canadian Imperial Bank of Commerce F/R 01-17-2019
Canada | Corporate - Non Convertible
3.7%

Complete Fund Holdings Help Full holdings list

As of February 28, 2018
Holding Name No. of Shares/Units Market Value CAD (000s) % of NAV
AltaGas Ltd. Pfd. Series K 2,215 56 0.1%
Arch Merger Sub Inc. 8.50% 09-15-2025 Callable 2020 80,000 99 0.2%
Artis Real Estate Investment Trust 3.753% 03-27-2019 600,000 606 1.1%
Artis Real Estate Investment Trust F/R 02-07-2020 500,000 501 0.9%
ATS Consolidated Inc. Term Loan B 1st Lien F/R 02-23-2025 20,000 26 0.0%
Aviva PLC 4.50% 05-10-2021 120,000 125 0.2%
Bank of Montreal 2.27% 07-11-2022 80,000 79 0.1%
Bank of Montreal 3.32% 06-01-2026 500,000 507 0.9%
Bank of Montreal F/R 04-11-2019 1,000,000 1,004 1.9%
Bell Canada 3.00% 10-03-2022 Callable 1,500,000 1,509 2.8%
Bell Canada 3.35% 06-18-2019 280,000 284 0.5%
BMW Canada Inc. F/R 06-14-2019 2,000,000 2,014 3.7%
Brookfield Asset Management Inc. Pfd. Series 46 3,842 100 0.2%
Brookfield Asset Management Inc. Pfd. Series 48 1,679 43 0.1%
Brookfield Renewable Partners LP Pfd. Series 11 4,673 117 0.2%
Can Am Construction Inc./Canada Term Loan B 1st Lien F/R 07-01-2024 119,400 156 0.3%
Canada Goose Inc. Term Loan 1st Lien F/R 12-22-2021 110,000 140 0.3%
Canada Housing Trust F/R 09-15-2022 2,190,000 2,207 4.1%
Canada Housing Trust No. 1 F/R 03-15-2023 2,010,000 2,017 3.7%
Canadian Imperial Bank of Commerce 2.30% 07-11-2022 DPNT 130,000 128 0.2%
Canadian Imperial Bank of Commerce 2.47% 12-05-2022 60,000 59 0.1%
Canadian Imperial Bank of Commerce 3.00% 10-28-2024 Callable 2019 50,000 50 0.1%
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 2,005 3.7%
Canadian Western Bank 2.92% 12-15-2022 20,000 20 0.0%
Cards II Trust 2.155% 10-15-2020 440,000 437 0.8%
Careerbuilder LLC Term Loan 1st Lien F/R 07-31-2023 118,500 151 0.3%
Central 1 Credit Union F/R 11-21-2018 2,000,000 2,008 3.7%
Chassix Inc. Term Loan B 1st Lien F/R 11-10-2023 40,000 52 0.1%
Choice Properties Real Estate Investment Trust 3.01% 03-21-2022 Callable 2022 30,000 30 0.1%
Citigroup Inc. 3.39% 11-18-2021 50,000 51 0.1%
Comfort Holding LLC Term Loan 1st Lien F/R 02-05-2024 129,025 162 0.3%
Communications Sales & Leasing Inc. Term Loan B 1st Lien F/R 10-24-2022 213,059 264 0.5%
ConvergeOne Holdings Corp. Term Loan B 1st Lien F/R 06-20-2024 10,945 14 0.0%
CSC Holdings LLC Term Loan B 1st Lien F/R 01-12-2026 30,000 39 0.1%
CSP Technologies North America LLC Term Loan B 1st Lien F/R 01-29-2022 231,015 298 0.6%
Daimler Canada Finance Inc. F/R 07-08-2019 2,000,000 2,017 3.7%
Daseke Inc. Term Loan 1st Lien F/R 02-27-2024 199,297 259 0.5%
Digicert Holdings Inc. Term Loan 1st Lien F/R 09-20-2024 50,000 65 0.1%
Dollarama Inc. F/R 03-16-2020 2,000,000 2,016 3.7%
EagleTree-Carbide Acquisition Corp. Term Loan 1st Lien F/R 08-28-2024 109,725 142 0.3%
Enbridge Inc. 3.19% 12-05-2022 590,000 595 1.1%
EnerCare Solutions Inc. 3.38% 02-21-2022 Callable 2022 130,000 131 0.2%
Envigo Holdings Inc. Term Loan B 1st Lien F/R 12-14-2023 40,000 50 0.1%
Ford Auto Securitization Trust 1.42% 04-15-2021 17-R2 750,000 745 1.4%
Ford Credit Canada Co. F/R 12-01-2020 170,000 170 0.3%
Fortified Trust 1.67% 07-23-2021 180,000 175 0.3%
Fortified Trust 2.16% 10-23-2020 210,000 209 0.4%
Futures Contracts -11 0.0%
FXI Holdings Inc. 7.88% 11-01-2024 Callable 2020 30,000 38 0.1%
Gaz Metro Inc. 1.52% 05-25-2020 60,000 59 0.1%
Genesis Trust II 1.699% 04-15-2020 110,000 109 0.2%
Gibson Energy Inc. 5.25% 07-15-2024 Callable 2020 REGS 80,000 81 0.1%
Greater Toronto Airports Authority 5.26% 04-17-2018 Callable 1,500,000 1,507 2.8%
Green Plains Inc. Term Loan B 1st Lien F/R 08-29-2023 69,825 91 0.2%
Greenhill & Co. Inc. Term Loan B 1st Lien F/R 10-12-2022 40,000 52 0.1%
H&R Real Estate Investment Trust F/R 07-23-2019 1,800,000 1,819 3.4%
HCN Canadian Holdings-1 LP 3.35% 11-25-2020 160,000 163 0.3%
Hollis Receivables Term Trust II 1.788% 02-26-2020 340,000 337 0.6%
HSBC Bank Canada 2.17% 06-29-2022 1,880,000 1,833 3.4%
Hydro One Inc. F/R 03-21-2019 2,000,000 2,008 3.7%
Hyster-Yale Group Inc. Term Loan B 1st Lien F/R 05-30-2023 117,000 151 0.3%
Interior Logic Group Inc. Term Loan B 1st Lien F/R 03-01-2024 105,875 137 0.3%
iQor US Inc. Term Loan B 1st Lien F/R 04-01-2021 29,414 38 0.1%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $85.00 Exp. 03-16-2018 4 0.0%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $86.00 Exp. 03/16/2018 5 0.0%
Itron Inc. 5.00% 01-15-2026 Callable 2021 20,000 26 0.0%
Jane Street Group LLC Term Loan B 1st Lien F/R 08-25-2022 119,000 155 0.3%
John Deere Canada Funding Inc. F/R 09-21-2020 1,500,000 1,507 2.8%
KEMET Corp. Term Loan B 1st Lien F/R 04-26-2024 156,000 204 0.4%
Laurentian Bank of Canada F/R 04-24-2019 750,000 966 1.8%
LifeMiles Ltd. Term Loan B 1st Lien F/R 08-18-2022 58,500 78 0.1%
Manulife Bank of Canada F/R 06-01-2018 2,500,000 2,504 5.4%
Mattamy Group Corp. 6.50% 10-01-2025 Callable 2020 20,000 21 0.0%
McAfee LLC Term Loan B 1st Lien F/R 09-30-2024 129,675 168 0.3%
Meredith Corp. Term Loan B 1st Lien F/R 01-18-2025 60,000 78 0.1%
Metro Inc. 2.68% 12-05-2022 Callable 2022 30,000 30 0.1%
National Bank of Canada F/R 06-14-2018 DPNT 2,000,000 2,003 3.7%
Neenah Foundry Co. Term Loan B 1st Lien F/R 12-08-2022 30,000 39 0.1%
Nissan Canada Financial Services Inc. F/R 04-09-2019 1,000,000 1,004 1.9%
Nissan Motor Acceptance Corp. F/R 01-13-2020 1,450,000 1,871 3.5%
OCI Beaumont LLC Term Loan B 1st Lien F/R 02-16-2025 20,000 26 0.0%
Office Depot Inc. Term Loan B 1st Lien F/R 11-08-2022 70,000 91 0.2%
Osteon Merger Sub Inc. Term Loan B 1st Lien F/R 02-06-2025 20,000 26 0.0%
Pioneer Holdings LLC 9.00% 11-01-2022 Callable 2019 20,000 27 0.1%
PNI Canada Acquireco Corp. Term Loan B 1st Lien F/R 08-23-2022 49,875 64 0.1%
Prospect Medical Holdings Inc. Term Loan B 1st Lien F/R 02-15-2024 60,000 78 0.1%
PSC Industrial Outsourcing LP Term Loan B 1st Lien F/R 10-05-2024 70,000 91 0.2%
Red Ventures LLC Term Loan B 1st Lien F/R 11-08-2024 89,775 116 0.2%
Reliance Intermediate Holdings LP 6.50% 04-01-2023 Callable 2018 10,000 13 0.0%
Research Now Group Inc. Term Loan 1st Lien F/R 12-20-2024 60,000 76 0.1%
Royal Bank of Canada 2.00% 03-21-2022 250,000 244 0.5%
Royal Bank of Canada F/R 02-11-2020 2,000,000 2,017 3.7%
Sinclair Television Group Inc. Term Loan B 1st Lien F/R 12-12-2024 30,000 39 0.1%
SmartCentres Real Estate Investment Trust F/R 12-21-2020 270,000 271 0.5%
SNC-Lavalin Group Inc. 2.69% 11-24-2020 20,000 20 0.0%
SNC-Lavalin Group Inc. F/R 03-02-2021 200,000 200 0.4%
Staples Inc. Term Loan 1st Lien F/R 08-15-2024 99,750 127 0.2%
Sun Life Financial Inc. F/R 11-23-2027 Callable 2022 20,000 20 0.0%
Syniverse Holdings Inc. Term Loan 1st Lien F/R 02-09-2023 20,000 26 0.0%
Talen Energy Supply LLC 10.50% 01-15-2026 Callable 2022 10,000 12 0.0%
TerraForm Power Operating LLC 5.00% 01-31-2028 Callable 2027 10,000 12 0.0%
Teva Pharmaceutical Finance Netherlands III BV 3.15% 10-01-2026 Callable 10,000 10 0.0%
The Bank of Nova Scotia 1.90% 12-02-2021 DPNT 160,000 156 0.3%
The Bank of Nova Scotia F/R 10-12-2018 2,000,000 2,001 3.7%
The Toronto-Dominion Bank F/R 02-18-2020 2,000,000 2,016 3.7%
Toyota Credit Cabada Inc. F/R 10-13-2020 2,000,000 2,007 3.7%
TransAlta Corp. Pfd. Series A 4,290 65 0.1%
TransCanada Corp. Pfd. Series 15 4,568 118 0.2%
Traverse Midstream Partners LLC Term Loan B 1st Lien F/R 09-21-2024 30,000 39 0.1%
Trico Products Corp. Term Loan 1st Lien F/R 02-02-2024 30,000 39 0.1%
Vistage Worldwide Inc. Term Loan 1st Lien F/R 02-01-2025 20,000 26 0.0%
Williams Scotsman International Inc. 7.88% 12-15-2022 Callable 2019 35,000 47 0.1%
YRC Worldwide Inc. Term Loan 1st Lien F/R 07-21-2022 77,412 100 0.2%
Zotec Partners LLC Term Loan 1st Lien F/R 02-09-2024 40,000 51 0.1%
Total Investments -- 53,320 99.1%
Cash & Equivalents -- 824 1.5%
Currency Hedge Contracts -- -105 -0.2%
Other Assets (Liabilities) -- -206 -0.4%
Total Net Assets -- 53,833 100.0%

Asset Allocation (%) Help Holdings by region and sector

As of April 30, 2018
  • Regional Allocation
      Canada
    76.6%
      United States
    13.6%
      Germany
    5.6%
      Japan
    3.5%
      United Kingdom
    0.3%
      Netherlands
    0.2%
      Colombia
    0.2%
      Cash & Equivalents 0.0%
  • Sector Allocation
      Corporate Bonds 84.5%
      Bank Loans 9%
      Federal Bonds 5.7%
      Equities 0.8%
      Cash & Equivalents 0%
Credit Allocation (%)
AAA 9.4%
AA 21.5%
A 34%
BBB 17.7%
BB 2%
B 6.8%
CCC & Below 0.3%
NR 7.5%
Cash & Equivalents 0%
Equities 0.8%

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).