Fund Portfolio – Mackenzie Investment Grade Floating Rate Fund Series F MFC4724 | Mackenzie Investments

Mackenzie Investment Grade Floating Rate Fund Series F

Asset Class: Canadian Fixed Income

Major Holdings (%) Help Top holdings by percentage

As of July 31, 2019
Major holdings represent 52.7% of the fund.
View all holdings
Total # of
Equity Holdings
6
Total # of
Fixed Income Holdings
132
Holding name, country and sector Percentage of holding in fund
Canada Housing Trust F/R 09-15-2023
Canada | Federal Government
17.8%
Canada Housing Trust F/R 03-15-2024
Canada | Federal Government
7.9%
Province of Ontario F/R 08-21-2023
Canada | Provincial Governments
5.1%
Dollarama Inc. F/R 03-16-2020
Canada | Corporate - Non Convertible
3.7%
HSBC Bank Canada 2.17% 06-29-2022
Canada | Corporate - Non Convertible
3.4%
The Toronto-Dominion Bank F/R 09-17-2020
Canada | Corporate - Non Convertible
3.2%
United States Treasury 0.50% 04-15-2024 Inflation Indexed
United States | Foreign Governments
3.1%
Royal Bank of Canada F/R 02-11-2020
Canada | Corporate - Non Convertible
2.8%
John Deere Canada Funding Inc. F/R 09-21-2020
United States | Corporate - Non Convertible
2.8%
Manulife Bank of Canada F/R 01-27-2020 Callable 2019
Canada | Corporate - Non Convertible
2.8%

Complete Fund Holdings Help Full holdings list

As of May 31, 2019
Holding Name No. of Shares/Units Market Value CAD (000s) % of NAV
Acproducts Inc. Term Loan 1st Lien F/R 02-14-2024 10,000 13 0.0%
Aegis Toxicology Sciences Corp. Term Loan B 1st Lien F/R 05-09-2025 9,950 13 0.0%
AI Ladder Luxembourg Term Loan B 1st Lien F/R 05-04-2025 16,456 22 0.0%
AL Midcoast Holdings LLC Term Loan B 1st Lien F/R 06-28-2025 19,900 27 0.0%
Alcami Carolinas Corp. Term Loan 1st Lien F/R 07-06-2025 19,900 27 0.0%
Alchemy US Holdco LLC Term Loan B 1st Lien F/R 10-01-2025 19,875 27 0.0%
Allegiant Travel Co. Term Loan B 1st Lien F/R 01-29-2024 29,925 40 0.1%
AltaGas Ltd. Pfd. Series K 2,215 45 0.1%
APFS Staffing Holdings Inc. Term Loan 1st Lien F/R 04-10-2026 10,000 13 0.0%
Artis Real Estate Investment Trust 3.68% 02-22-2021 40,000 41 0.1%
Artis Real Estate Investment Trust F/R 02-07-2020 1,000,000 1,002 1.8%
AT&T Inc. F/R 06-12-2024 900,000 1,226 2.2%
Ball Metalpack Finco LLC Term Loan B 1st Lien F/R 07-26-2025 9,925 13 0.0%
Bank of America Corp. F/R 04-24-2022 Callable 2021 1,150,000 1,150 2.1%
Bank of Montreal 2.27% 07-11-2022 860,000 866 1.5%
Bausch Health Cos Inc. Term Loan B 1st Lien F/R 05-24-2025 9,250 12 0.0%
Bell Canada 2.00% 10-01-2021 980,000 978 1.7%
Brookfield Asset Management Inc. Pfd. Series 46 1,278 31 0.1%
Brookfield Asset Management Inc. Pfd. Series 48 1,209 27 0.0%
Brookfield Renewable Partners LP Pfd. Series 11 3,897 83 0.1%
Bruce Power LP 2.84% 06-23-2021 1,000,000 1,010 1.8%
C&D Technologies Inc. Term Loan B 1st Lien F/R 12-13-2025 19,950 25 0.0%
Calceus Acquisition Inc. Term Loan B1 1st Lien F/R 02-08-2025 29,813 40 0.1%
Canada Goose Inc. Term Loan 1st Lien F/R 12-02-2024 84,546 114 0.2%
Canada Housing Trust F/R 03-15-2024 5,250,000 5,249 9.4%
Canada Housing Trust No. 1 F/R 09-15-2023 10,070,000 10,076 19.7%
Canadian Imperial Bank of Commerce 2.47% 12-05-2022 20,000 20 0.0%
Canadian Imperial Bank of Commerce 2.90% 09-14-2021 250,000 255 0.5%
Canadian Imperial Bank of Commerce F/R 07-22-2019 1,300,000 1,300 2.3%
Canadian Western Bank 2.12% 07-29-2019 800,000 800 1.4%
Cards II Trust 2.16% 10-15-2020 440,000 441 0.8%
CareCentrix Inc. Term Loan 1st Lien F/R 03-22-2025 48,750 66 0.1%
Caterpillar Financial Services Ltd. F/R 12-09-2019 1,200,000 1,199 2.1%
CCS-CMGC Holdings Inc. Term Loan 1st Lien F/R 09-25-2025 9,975 13 0.0%
Central 1 Credit Union F/R 02-05-2021 800,000 799 1.4%
CEVA Logistics Finance BV Term Loan B 1st Lien F/R 08-03-2025 10,000 13 0.0%
Charter Communications Operating LLC F/R 02-01-2024 Callable 2024 900,000 1,220 2.2%
Citadel LLC Term Loan B 1st Lien F/R 02-22-2026 40,000 54 0.1%
CommScope Inc. Term Loan B2 1st Lien F/R 02-07-2026 20,000 27 0.0%
Concrete Pumping Merger Sub Inc. Term Loan 1st Lien F/R 11-14-2025 19,750 26 0.0%
Conterra Ultra Broadband Holdings Inc. Term Loan B 1st Lien F/R 04-26-2026 10,000 14 0.0%
Crombie Real Estate Investment Trust 4.80% 01-31-2025 Callable 2024 10,000 11 0.0%
Crown Subsea Communications Holding Inc. Term Loan 1st Lien F/R 11-02-2025 29,625 40 0.1%
Currency Put Option USD/CNY 06-11-2019 Strike $0.995 480,000 1 0.0%
CVS Health Corp. F/R 03-09-2020 500,000 676 1.2%
Dawn Acquisition LLC Term Loan 1st Lien F/R 10-25-2025 19,950 26 0.0%
Diamond 1 Finance Corp. 4.42% 06-15-2021 Callable 2021 144A 740,000 1,025 1.8%
Dollarama Inc. F/R 03-16-2020 2,000,000 2,003 3.6%
EagleTree-Carbide Acquisition Corp. Term Loan 1st Lien F/R 08-28-2024 68,753 92 0.2%
Eastern Power LLC Term Loan B 1st Lien F/R 10-02-2023 9,690 13 0.0%
Electrical Components International Inc. Term Loan 1st Lien F/R 06-22-2025 19,850 26 0.0%
EnerCare Solutions Inc. 3.38% 02-21-2022 Callable 2022 130,000 132 0.2%
Ensono LP Term Loan 1st Lien F/R 04-30-2025 19,850 27 0.0%
EnTrans International LLC Term Loan 1st Lien F/R 10-29-2025 19,625 26 0.0%
Fédération des Caisses Desjardins du Québec 3.06% 09-11-2023 530,000 550 1.0%
Fédération des Caisses Desjardins du Québec F/R 08-22-2019 360,000 360 0.6%
Forming Machining Industries Holdings LLC Term Loan 1st Lien F/R 10-03-2025 16,281 21 0.0%
Fortified Trust 1.67% 07-23-2021 180,000 179 0.3%
Foundation Building Materials LLC Term Loan B 1st Lien F/R 05-11-2025 9,975 13 0.0%
Gaz Metro Inc. 1.52% 05-25-2020 60,000 60 0.1%
Genesis Trust II 1.70% 04-15-2020 110,000 110 0.2%
GlaxoSmithKline Capital PLC F/R 05-14-2021 870,000 1,180 2.1%
GLOBALFOUNDRIES Inc. Term Loan B 1st Lien F/R 05/24/2026 30,000 40 0.1%
Government of Canada 1.00% 09-01-2022 10,000 10 0.0%
Government of Canada 1.50% 09-01-2024 10,000 10 0.0%
Government of Canada 2.00% 09-01-2023 20,000 21 0.0%
H&R Real Estate Investment Trust F/R 07-23-2019 1,800,000 1,801 3.2%
Halo Buyer Inc. Term Loan 1st Lien F/R 06-28-2025 9,926 13 0.0%
Hollis Receivables Term Trust II 1.79% 02-26-2020 340,000 339 0.6%
HSBC Bank Canada 2.17% 06-29-2022 1,850,000 1,848 3.3%
HSBC Bank Canada 3.25% 09-15-2023 20,000 21 0.0%
Hydro One Inc. 2.54% 04-05-2024 Callable 2024 20,000 20 0.0%
IEA Energy Services LLC Term Loan 1st Lien F/R 09-25-2024 29,250 38 0.1%
II-VI Inc. Term Loan B 1st Lien F/R 05-08-2026 20,000 27 0.0%
Innovative Water Care Global Corp. Term Loan 1st Lien F/R 02-27-2026 10,000 13 0.0%
Institutional Shareholder Services Inc. Term Loan 1st Lien F/R 02-26-2026 10,000 13 0.0%
Intermedia Holdings Inc. Term Loan B 1st Lien F/R 07-13-2025 19,950 27 0.0%
iQor US Inc. Term Loan B 1st Lien F/R 04-01-2021 19,060 25 0.0%
Isagenix International LLC Term Loan 1st Lien F/R 04-26-2025 28,875 31 0.1%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $82.00 Exp. 07-19-2019 2 0.0%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $84.00 Exp. 06-21-2019 5 0.0%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $84.00 Exp. 09-20-2019 3 1 0.0%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $84.00 Exp. 11-15-2019 2 1 0.0%
Ivanhoe Cambridge II Inc. 2.91% 06-27-2023 Callable 2023 10,000 10 0.0%
Jane Street Group LLC. Term Loan B 1st Lien F/R 08-25-2022 10,000 13 0.0%
Janus International Group LLC Term Loan 1st Lien F/R 02-15-2025 10,000 14 0.0%
John Deere Canada Funding Inc. F/R 09-21-2020 1,500,000 1,500 2.7%
JP Intermediate B LLC Term Loan 1st Lien F/R 10-19-2025 9,750 12 0.0%
JPMorgan Chase & Co. 3.19% 03-05-2021 780,000 795 1.4%
Keane Group Holdings LLC Term Loan B 1st Lien F/R 05-18-2025 19,850 26 0.0%
Kestrel Acquisition LLC Term Loan B 1st Lien F/R 05-02-2025 9,925 13 0.0%
Manulife Bank of Canada F/R 01-27-2020 Callable 2019 1,500,000 1,501 2.7%
Metro Inc. 1.52% 02-27-2020 MTN 1,000,000 1,001 1.8%
Minotaur Acquisition Inc. Term Loan 1st Lien F/R 02-27-2026 10,000 13 0.0%
Natel Engineering Co. Inc. Term Loan B 1st Lien F/R 04-29-2026 10,000 13 0.0%
OCI Beaumont LLC Term Loan B 1st Lien F/R 02-16-2025 9,900 13 0.0%
OMERS Realty Corp. 2.47% 11-12-2019 Callable 1,190,000 1,193 2.1%
Panther BF Aggregator 2 LP Term Loan B 1st Lien F/R 03-18-2026 10,000 13 0.0%
Pisces Midco Inc. 8.00% 04-15-2026 Callable 2021 144A 10,000 12 0.0%
Polymer Process Holdings Inc. Term Loan 1st Lien F/R 04-29-2026 10,000 13 0.0%
Project Leopard Holdings Inc. Term Loan 1st Lien F/R 07-07-2023 29,925 40 0.1%
Prospect Medical Holdings Inc. Term Loan B 1st Lien F/R 02-15-2024 49,450 63 0.1%
Province of Ontario F/R 08-21-2023 2,750,000 2,752 4.9%
PS HoldCo LLC Term Loan 1st Lien F/R 03-02-2025 9,950 13 0.0%
PSC Industrial Outsourcing LP Term Loan B 1st Lien F/R 10-05-2024 69,125 93 0.2%
R.R. Donnelley & Sons Co. Term Loan B 1st Lien F/R 01-04-2024 13,965 19 0.0%
R1 RCM Inc. Term Loan B 1st Lien F/R 05-02-2025 19,850 27 0.0%
Royal Bank of Canada F/R 02-11-2020 1,500,000 1,506 2.7%
Savage Enterprises LLC Term Loan B 1st Lien F/R 07-02-2025 26,325 36 0.1%
SIRVA Worldwide Inc. Term Loan 1st Lien F/R 07-31-2025 17,888 24 0.0%
SNC-Lavalin Group Inc. F/R 03-02-2021 590,000 583 1.0%
SS&C Technologies Inc. Term Loan B5 1st Lien F/R 04-16-2025 9,949 13 0.0%
Sun Life Financial Inc. F/R 11-23-2027 Callable 2022 20,000 20 0.0%
Superior Plus LP 7.00% 07-15-2026 Callable 2021 144A 10,000 14 0.0%
TC Energy Corp. Pfd. Series 15 2,304 57 0.1%
Teva Pharmaceutical Industries Ltd. 2.20% 07-21-2021 7,000 9 0.0%
The Bank of Nova Scotia 1.90% 12-02-2021 DPNT 160,000 160 0.3%
The Bank of Nova Scotia F/R 08-27-2019 1,000,000 1,001 1.8%
The Goldman Sachs Group Inc. F/R 07-27-2022 Callable 2021 800,000 797 1.4%
The KeyW Holding Corp. Term Loan 1st Lien F/R 05-04-2024 18,605 25 0.0%
The Toronto-Dominion Bank F/R 09-17-2020 1,300,000 1,763 3.1%
Thor Industries Inc. Term Loan B 1st Lien F/R 11-01-2025 34,164 45 0.1%
TransAlta Corp. Pfd. Series A 4,428 54 0.1%
Travelport Finance Luxembourg Sarl Term Loan 1st Lien F/R 03-18-2026 10,000 13 0.0%
Ultra Clean Holdings Inc. Term Loan B 1st Lien F/R 08-27-2025 29,625 39 0.1%
Unimin Corp. Term Loan 1st Lien F/R 05-21-2025 29,775 35 0.1%
VeriFone Systems Inc. Term Loan 1st Lien F/R 08-09-2025 9,950 13 0.0%
Vertex Aerospace Services Corp. Term Loan B 1st Lien F/R 06-14-2025 9,920 13 0.0%
VVC Holding Corp. Term Loan B 1st Lien F/R 02-07-2026 50,000 68 0.1%
Vyaire Medical Inc. Term Loan B 1st Lien F/R 04-06-2025 19,850 24 0.0%
Wells Fargo & Co. 3.19% 02-08-2024 Callable 2024 20,000 21 0.0%
Yak Access LLC Term Loan B 1st Lien F/R 06-26-2025 39,500 50 0.1%
Zotec Partners LLC Term Loan 1st Lien F/R 02-09-2024 39,000 53 0.1%
Total Investments -- 54,885 97.9%
Cash & Equivalents -- 1,047 1.9%
Currency Hedge Contracts -- -120 -0.2%
Other Assets (Liabilities) -- 221 0.4%
Total Net Assets -- 56,033 100.0%

Asset Allocation (%) Help Holdings by region and sector

As of July 31, 2019
  • Regional Allocation
      Canada
    70.3%
      United States
    24.1%
      United Kingdom
    2.1%
      Cash & Equivalents 3.5%
  • Sector Allocation
      Corporate Bonds 58.5%
      Federal Bonds 25.8%
      Provincial Bonds 5.1%
      Cash & Equivalents 3.5%
      Bank Loans 3.3%
      Foreign Fixed Income 3.1%
      Equities 0.6%
      Mortgage Backed 0.1%
Credit Allocation (%)
AAA 27.9%
AA 18.3%
A 23.2%
BBB 20.9%
BB 0.8%
B 2%
CCC & Below 0.1%
NR 2.7%
Cash & Equivalents 3.5%
Equities 0.6%

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.

Effective June 1, 2018, the management fee and/or administration fee of series F, PW, PWB, PWT, PWFB, and PWX of the fund was reduced. The new fees will not be fully reflected in the current MER until the semi-annual MER for the period ended September 30, 2019.

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 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 ratings issued by a designated rating organization.