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 August 31, 2019
Major holdings represent 56.8% of the fund.
View all holdings
Total # of
Equity Holdings
6
Total # of
Fixed Income Holdings
131
Holding name, country and sector Percentage of holding in fund
Canada Housing Trust F/R 09-15-2023
Canada | Federal Government
18.6%
Canada Housing Trust F/R 03-15-2024
Canada | Federal Government
8.1%
Province of Ontario F/R 08-21-2023
Canada | Provincial Governments
7.3%
Dollarama Inc. F/R 03-16-2020
Canada | Corporate - Non Convertible
3.9%
HSBC Bank Canada 2.17% 06-29-2022
Canada | Corporate - Non Convertible
3.6%
The Toronto-Dominion Bank F/R 09-17-2020
Canada | Corporate - Non Convertible
3.4%
United States Treasury 0.50% 04-15-2024 Inflation Indexed
United States | Foreign Governments
3.3%
Royal Bank of Canada F/R 02-11-2020
Canada | Corporate - Non Convertible
2.9%
John Deere Canada Funding Inc. F/R 09-21-2020
United States | Corporate - Non Convertible
2.9%
Manulife Bank of Canada F/R 01-27-2020 Callable 2019
Canada | Corporate - Non Convertible
2.9%

Complete Fund Holdings Help Full holdings list

As of July 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 9,938 13 0.0%
Aegis Toxicology Sciences Corp. Term Loan B 1st Lien F/R 05-09-2025 9,925 13 0.0%
AI Ladder Luxembourg Term Loan B 1st Lien F/R 05-04-2025 6,428 8 0.0%
AL Midcoast Holdings LLC Term Loan B 1st Lien F/R 06-28-2025 19,850 26 0.0%
Alcami Carolinas Corp. Term Loan 1st Lien F/R 07-06-2025 19,850 26 0.0%
Alchemy US Holdco LLC Term Loan B 1st Lien F/R 10-01-2025 19,750 26 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 47 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 40 0.1%
Artis Real Estate Investment Trust F/R 02-07-2020 1,000,000 1,002 1.9%
AT&T Inc. F/R 06-12-2024 900,000 1,210 2.3%
Ball Metalpack Finco LLC Term Loan B 1st Lien F/R 07-26-2025 9,900 13 0.0%
Bank of America Corp. F/R 04-24-2022 Callable 2021 1,150,000 1,152 2.1%
Bank of Montreal 2.27% 07-11-2022 860,000 865 1.6%
Bausch Health Cos Inc. Term Loan B 1st Lien F/R 05-24-2025 9,072 12 0.0%
Bell Canada 2.00% 10-01-2021 980,000 978 1.8%
Brookfield Asset Management Inc. Pfd. Series 46 1,278 32 0.1%
Brookfield Asset Management Inc. Pfd. Series 48 1,209 29 0.1%
Brookfield Renewable Partners LP Pfd. Series 11 3,897 87 0.2%
Bruce Power LP 2.84% 06-23-2021 1,000,000 1,012 1.9%
C&D Technologies Inc. Term Loan B 1st Lien F/R 12-13-2025 19,900 25 0.0%
Calceus Acquisition Inc. Term Loan B1 1st Lien F/R 02-08-2025 29,813 39 0.1%
Canada Housing Trust F/R 03-15-2024 4,250,000 4,242 7.9%
Canada Housing Trust F/R 09-15-2023 9,570,000 9,564 19.6%
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 250,000 254 0.5%
Canadian Imperial Bank of Commerce F/R 04-09-2020 1,300,000 1,300 2.4%
Canadian Mortgage Pools 1.75% 06-01-2024 69,658 69 0.1%
Cards II Trust 2.16% 10-15-2020 440,000 441 0.8%
CareCentrix Inc. Term Loan 1st Lien F/R 03-22-2025 48,438 64 0.1%
Caterpillar Financial Services Ltd. F/R 12-09-2019 1,200,000 1,201 2.2%
CCS-CMGC Holdings Inc. Term Loan 1st Lien F/R 09-25-2025 9,950 13 0.0%
Central 1 Credit Union F/R 02-05-2021 800,000 800 1.5%
CEVA Logistics Finance BV Term Loan B 1st Lien F/R 08-03-2025 10,000 12 0.0%
Charter Communications Operating LLC F/R 02-01-2024 Callable 2024 900,000 1,210 2.3%
Citadel LLC Term Loan B 1st Lien F/R 02-22-2026 59,850 79 0.1%
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 13 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 29,250 39 0.1%
CVS Health Corp. F/R 03-09-2020 500,000 660 1.2%
Diamond 1 Finance Corp. 4.42% 06-15-2021 Callable 2021 144A 740,000 1,006 1.9%
Diamond Sports Group LLC Term Loan B 1st Lien F/R 07-18-2026 10,000 13 0.0%
Dollarama Inc. F/R 03-16-2020 2,000,000 2,005 3.7%
EagleTree-Carbide Acquisition Corp. Term Loan 1st Lien F/R 08-28-2024 68,579 90 0.2%
Eastern Power LLC Term Loan B 1st Lien F/R 10-02-2023 9,612 13 0.0%
Electrical Components International Inc. Term Loan 1st Lien F/R 06-22-2025 19,800 24 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 19,800 26 0.0%
EnTrans International LLC Term Loan 1st Lien F/R 10-29-2025 19,250 25 0.0%
EPCOR Utilities Inc. 1.95% 07-08-2022 130,000 130 0.2%
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 0.7%
Forming Machining Industries Holdings LLC Term Loan 1st Lien F/R 10-03-2025 16,240 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 9,950 13 0.0%
Gaz Metro Inc. 1.52% 05-25-2020 60,000 60 0.1%
GEMS MENASA (Cayman) Ltd. Term Loan B 1st Lien F/R 07-30-2026 10,000 13 0.0%
Genesis Trust II 1.70% 04-15-2020 110,000 110 0.2%
GlaxoSmithKline Capital PLC F/R 05-14-2021 870,000 1,152 2.1%
GLOBALFOUNDRIES Inc. Term Loan B 1st Lien F/R 05/24/2026 30,000 39 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 20 0.0%
Halo Buyer Inc. Term Loan 1st Lien F/R 06-28-2025 9,901 13 0.0%
Heritage Power LLC Term Loan B 1st Lien F/R 07-08-2026 10,000 13 0.0%
Hollis Receivables Term Trust II 1.79% 02-26-2020 340,000 340 0.6%
HSBC Bank Canada 2.17% 06-29-2022 1,850,000 1,848 3.4%
HSBC Bank Canada 2.25% 09-15-2022 10,000 10 0.0%
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 28,500 36 0.1%
II-VI Inc. Term Loan B 1st Lien F/R 05-08-2026 20,000 26 0.0%
INEOS Enterprises Holdings US Finco LLC Term Loan B 1st Lien F/R 07-29-2026 10,000 13 0.0%
Innovative Water Care Global Corp. Term Loan 1st Lien F/R 02-27-2026 9,975 13 0.0%
Institutional Shareholder Services Inc. Term Loan 1st Lien F/R 02-26-2026 9,975 13 0.0%
Intermedia Holdings Inc. Term Loan B 1st Lien F/R 07-13-2025 19,900 26 0.0%
iQor US Inc. Term Loan B 1st Lien F/R 04-01-2021 19,010 24 0.0%
Isagenix International LLC Term Loan 1st Lien F/R 04-26-2025 28,500 30 0.1%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $84.00 Exp. 09-20-2019 3 0.0%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $84.00 Exp. 11-15-2019 2 0.0%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $85.00 Exp. 01-17-2020 3 1 0.0%
iShares iBoxx $ High Yield Corporate Bond ETF Put Option @ $85.00 Exp. 11-15-2019 3 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 9,975 13 0.0%
John Deere Canada Funding Inc. F/R 09-21-2020 1,500,000 1,504 2.8%
JP Intermediate B LLC Term Loan 1st Lien F/R 10-19-2025 9,625 11 0.0%
JPMorgan Chase & Co. 3.19% 03-05-2021 780,000 794 1.5%
Keane Group Holdings LLC Term Loan B 1st Lien F/R 05-18-2025 19,800 26 0.0%
Kestrel Acquisition LLC Term Loan B 1st Lien F/R 05-02-2025 9,900 13 0.0%
Laurentian Bank of Canada 2.55% 06-20-2022 40,000 40 0.1%
Manulife Bank of Canada F/R 01-27-2020 Callable 2019 1,500,000 1,501 2.8%
Metro Inc. 1.52% 02-27-2020 MTN 1,000,000 1,002 1.9%
Minotaur Acquisition Inc. Term Loan 1st Lien F/R 02-27-2026 9,975 13 0.0%
Multi-Color Corp. Term Loan B 1st Lien F/R 06-17-2026 10,000 13 0.0%
MyNEXUS Inc. Term Loan 1st Lien F/R 06-19-2024 10,000 13 0.0%
Natel Engineering Co. Inc. Term Loan B 1st Lien F/R 04-29-2026 10,000 13 0.0%
Norbord Inc. 5.75% 07-15-2027 Callable 2022 144A 10,000 13 0.0%
OCI Beaumont LLC Term Loan B 1st Lien F/R 02-16-2025 9,875 13 0.0%
OMERS Realty Corp. 2.47% 11-12-2019 Callable 1,190,000 1,192 2.2%
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 13 0.0%
Pluto Acquisition I Inc. Term Loan 1st Lien F/R 06-18-2026 10,000 13 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 29,850 39 0.1%
Province of Ontario F/R 08-21-2023 2,750,000 2,752 5.1%
PS HoldCo LLC Term Loan 1st Lien F/R 03-02-2025 9,925 13 0.0%
PSC Industrial Outsourcing LP Term Loan B 1st Lien F/R 10-05-2024 68,950 91 0.2%
R.R. Donnelley & Sons Co. Term Loan B 1st Lien F/R 01-04-2024 13,930 18 0.0%
Radiate Holdco LLC Term Loan 1st Lien F/R 02-01-2024 10,000 13 0.0%
Royal Bank of Canada F/R 02-11-2020 1,500,000 1,505 2.8%
Savage Enterprises LLC Term Loan B 1st Lien F/R 07-02-2025 26,189 35 0.1%
SIRVA Worldwide Inc. Term Loan 1st Lien F/R 07-31-2025 17,775 23 0.0%
SS&C Technologies Inc. Term Loan B5 1st Lien F/R 04-16-2025 9,924 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 59 0.1%
Teneo Holdings LLC Term Loan B 1st Lien F/R 07-12-2025 10,000 13 0.0%
The Bank of Nova Scotia 1.90% 12-02-2021 DPNT 160,000 159 0.3%
The Bank of Nova Scotia F/R 07-03-2029 Callable 2024 20,000 20 0.0%
The Bank of Nova Scotia F/R 08-27-2019 1,000,000 1,000 1.9%
The Goldman Sachs Group Inc. F/R 07-27-2022 Callable 2021 800,000 800 1.5%
The Toronto-Dominion Bank F/R 09-17-2020 1,300,000 1,719 3.2%
Thor Industries Inc. Term Loan B 1st Lien F/R 11-01-2025 30,283 40 0.1%
TransAlta Corp. Pfd. Series A 4,428 48 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 28,580 37 0.1%
Unimin Corp. Term Loan 1st Lien F/R 05-21-2025 29,700 34 0.1%
United States Treasury 0.50% 04-15-2024 Inflation Indexed 1,220,000 1,653 3.1%
US Renal Care Inc. Term Loan B 1st Lien F/R 06-14-2026 10,000 13 0.0%
VeriFone Systems Inc. Term Loan 1st Lien F/R 08-09-2025 9,925 13 0.0%
Vertex Aerospace Services Corp. Term Loan B 1st Lien F/R 06-14-2025 9,900 13 0.0%
VVC Holding Corp. Term Loan B 1st Lien F/R 02-07-2026 49,875 66 0.1%
Vyaire Medical Inc. Term Loan B 1st Lien F/R 04-06-2025 19,800 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 39,250 48 0.1%
Zotec Partners LLC Term Loan 1st Lien F/R 02-09-2024 38,750 51 0.1%
Total Investments -- 51,790 96.5%
Cash & Equivalents -- 1,799 3.4%
Currency Hedge Contracts -- 11 0.0%
Other Assets (Liabilities) -- 73 0.1%
Total Net Assets -- 53,673 100.0%

Asset Allocation (%) Help Holdings by region and sector

As of September 30, 2019
  • Regional Allocation
      Canada
    69.8%
      United States
    25.0%
      United Kingdom
    2.3%
      Cash & Equivalents 2.9%
  • Sector Allocation
      Corporate Bonds 56.3%
      Federal Bonds 26.6%
      Provincial Bonds 7.3%
      Foreign Fixed Income 3.3%
      Bank Loans 2.9%
      Cash & Equivalents 2.9%
      Equities 0.6%
      Mortgage Backed 0.1%
Credit Allocation (%)
AAA 28.8%
AA 17.3%
A 25.3%
BBB 22.2%
BB 0.8%
B 1.8%
CCC & Below 0.1%
NR 0.2%
Cash & Equivalents 2.9%
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.