First Asset Canadian Convertible Bond Fund

view Class F

Investment Objectives

Canadian Convertible Bond Fund's investment objective is to provide unitholders with quarterly distributions and opportunity for capital appreciation through investment predominantly in Canadian debentures that are convertible into equity of Canadian issuers, investments of convertible debentures of non-Canadian issuers as well as fixed income instruments and equities.

Investment Strategies

The Fund has been created to invest in a portfolio comprised primarily of convertible debentures of Canadian issuers, with the ability to invest up to 30% of the net asset value in convertible debentures of non-Canadian issuers. No more than 20% of the Fund's net asset value will be invested in equities as a result of any conversions and fixed income instruments, other equities and cash. At the Manager's discretion, the Fund may be invested entirely in cash or cash equivalents.

Convertible debentures generally provide:

  • security of principal through the obligation of the issuer to repay the principal amount in full at maturity,
  • income from fixed coupons which rank in priority to dividends on common and preferred shares and distributions on trust units, and
  • the potential for capital appreciation through the holder's right to convert the securities at a specified price into the underlying equity securities of the issuer.

The convertible debentures in the portfolio will combine the attributes of both equity and fixed income investing. The portfolio manager intends to assess the relative attractiveness of a convertible debenture factoring in elements, including, but not limited to, the stability of historical and projected cash flow, overall levels of indebtedness of an issuer, key financial ratios, as well as the overall prospects of the business. The portfolio manager will endeavour to construct a portfolio that is diversified by sector as well as by issuer, and will attempt to mitigate reinvestment and interest rate risk by monitoring both the issuers and the duration of the portfolio. The portfolio manager anticipates that, from time to time, certain sectors may be overweighted due to, among other things, trends in the issuance of new convertible debentures and overall market liquidity.

The Fund intends to hedge 80-100% of the U.S. dollar currency exposure within the portfolio.

 1m3m6mYTD1y2y3y4y5ySI
Class A -1.34%0.45%3.14%4.12%7.01%7.94%2.52%5.35%3.88%5.93%
As at: 31 Jul 2017
 1m3m6mYTD1y2y3y4y5ySI
Class F -1.24%0.78%3.79%4.90%8.39%9.31%3.83%6.69%5.20%7.23%
As at: 31 Jul 2017

 

Sector Breakdown

As at 31 July 2017

The indicated rates of return are the historical annual compounded total returns, including changes in unit value and do not take into account sales, redemption or optional charges or income taxes payable by a security holder that would have reduced returns.

Top holdings

CouponMaturity% Weighting
Pure Multi-family Reit Lp6.50%30 Sep 205.1
H&r Reit5.40%30 Nov 184.1
Northland Power Inc5.00%30 Jun 194.0
Ag Growth International Inc5.25%31 Dec 183.7
Atlantic Power Corp5.75%30 Jun 193.7
Chemtrade Logistic Income Fd0.00%3.2
Element Fleet Management Corp5.13%30 Jun 193.1
Genalta Power Inc8.00%05 Apr 172.9
Mainstreet Health Investments5.00%31 Jan 222.9
New Flyer Industries Inc0.00%2.7
As at 31 July 2017

Distributions

Distribution details (.csv)

Twelve month-trailing distribution yield: 5.76%

Class ATotal
SI$4.41120
2017 +$0.30000
29-Jun$0.15000
30-Mar$0.05960
8-Mar$0.09040
2016 +$0.60000
29-Dec$0.15000
29-Sep$0.15000
29-Jun$0.15000
30-Mar$0.15000
2015 +$0.60000
30-Dec$0.15000
29-Sep$0.15000
29-Jun$0.15000
30-Mar$0.15000
2014 +$0.60000
30-Dec$0.15000
29-Sep$0.15000
27-Jun$0.15000
28-Mar$0.15000
2013 +$0.60000
30-Dec$0.15000
27-Sep$0.15000
27-Jun$0.15000
27-Mar$0.15000
2012 +$0.60000
28-Dec$0.15000
27-Sep$0.15000
28-Jun$0.15000
29-Mar$0.15000
2011 +$0.61120
29-Dec$0.21120
29-Sep$0.15000
29-Jun$0.12500
30-Mar$0.12500
2010 +$0.50000
30-Dec$0.12500
29-Sep$0.12500
29-Jun$0.12500
30-Mar$0.12500
Distribution details (.csv)

Twelve month-trailing distribution yield: 5.12%

Class FTotal
SI$4.41120
2017 +$0.30000
29-Jun$0.15000
30-Mar$0.05960
8-Mar$0.09040
2016 +$0.60000
29-Dec$0.15000
29-Sep$0.15000
29-Jun$0.15000
30-Mar$0.15000
2015 +$0.60000
30-Dec$0.15000
29-Sep$0.15000
29-Jun$0.15000
30-Mar$0.15000
2014 +$0.60000
30-Dec$0.15000
29-Sep$0.15000
27-Jun$0.15000
28-Mar$0.15000
2013 +$0.60000
30-Dec$0.15000
27-Sep$0.15000
27-Jun$0.15000
27-Mar$0.15000
2012 +$0.60000
28-Dec$0.15000
27-Sep$0.15000
28-Jun$0.15000
29-Mar$0.15000
2011 +$0.61120
29-Dec$0.21120
29-Sep$0.15000
29-Jun$0.12500
30-Mar$0.12500
2010 +$0.50000
30-Dec$0.12500
29-Sep$0.12500
29-Jun$0.12500
30-Mar$0.12500

News

11 Apr 2016 First Asset Opens the Market First Asset
23 Oct 2015 CI Financial scoops up ETF provider First Asset Capital The Globe and Mail | Clare O'Hara
21 Jul 2015 Stripping away preconceived notions of fixed income Financial Post | John Pagliacci
26 May 2015 Multi-factor ETFs bring better returns - and risks www.benefitscanada.com | Yaldaz Sadakova
6 Apr 2015 Modern day ETFs offer a world of choice & styles 24News.ca | Michael Prittie
30 Sep 2014 A look inside Canada's hottest ETFs Special to the Globe and Mail | Andrew Hallam
18 Jun 2014 First Asset ETFs June Distributions Marketwired
20 May 2014 First Asset ETF Funds May Distributions Marketwired
15 May 2014 There’s no debating the intelligence of “smart beta” Your Guide to ETF Investing
13 May 2014 Behind the Scenes with Smart Beta www.wealthprofessional.ca
5 May 2014 Taming Wild Currency Plays www.wealthprofessional.ca
14 Apr 2014 Fifteen top Canadian equity funds The Globe and Mail | Jacqueline Nelson
19 Mar 2014 First Asset ETFs March Distributions Marketwired
14 Mar 2014 Understanding factor-indexed ETFs ADVISOR.CA
10 Dec 2013 Intelligent indexing puts a new spin on ETF investing Special to Financial Post
17 Oct 2013 Scouring for ETFs that mix growth, value The Globe and Mail | Ian McGugan
13 Sep 2013 Don't buy exchange-traded funds blindly Richmond News
21 May 2013 First Asset ETFs Announce Distributions Marketwired
18 Apr 2013 First Asset ETFs Announce Distributions Marketwired
15 Feb 2013 First Asset ETFs Announce Distributions Marketwired
21 Jan 2013 First Asset ETFs Announce Distributions Marketwired
1 Dec 2012 Fixed-income ETFs hit the sweet spot Investment Executive | Dwarka Lakhan
30 Nov 2012 5 myths about exchange traded funds Financial Post | David Pett
14 Mar 2012 Don't take your ETF's yield at face value Morningstar | John Gabriel
12 Mar 2012 XTF Insight: Convertible bond exchange-traded funds show potential in diversified portfolios Financial Post | Postmedia for XTF | Barry Gordon
9 Mar 2012
7 Mar 2012 Are ETFs bought, rather than sold? Financial Post | Jonathan Chevreau
5 Mar 2012 XTF Insight: Hedging your bets with ETFs Financial Post | Postmedia for XTF
17 Feb 2012 More room to grow for Canadian ETFs Financial Post | David Pett
13 Feb 2012 How ETFs Have Evolved ETF TRENDS | John Spence
13 Feb 2012 XTF Insight: The evolution of ETFs Financial Post | Postmedia for XTF | Barry Gordon
8 Feb 2012 ETFs spurring shift to fee-based advice The Globe and Mail | John Heinzl
6 Feb 2012 XTF Insight: Understanding the basics of ETF liquidity Financial Post | Postmedia for XTF
30 Jan 2012 XTF Insight: Understanding the basics of ETF liquidity Financial Post | Postmedia for XTF
20 Jan 2012 ETF firms take aim at advisors Investment Executive | Megan Harman
13 Dec 2011 First Asset licenses Morningstar indexes for ETFs Investment Executive | James Langton
15 Nov 2011 Advisors embracing ETFs Investment Executive | Megan Harman
8 Jun 2011 First convertible-bond ETF launched Morningstar | Rudy Luukko
7 Jun 2011 Convertible bond ETF debuts in Canada Financial Post Staff
7 Jun 2011 Vanguard targets fee-only advisers The Global and Mail | Shirley Won
6 Jun 2011 Vanguard poised to set off ETF price war The Globe and Mail | Shirley Won
6 Jun 2011 XTF Launches Convertible Bond ETF Advisor.ca
6 Jun 2011 Canada's first ETF on convertible debentures opens Tuesday Financial Post | Barry Critchley

Documents

30 Jun, 2016 | Proxy Voting Record

30 Jun, 2015 | Proxy Voting Record

30 Jun, 2014 | Proxy Voting Record

30 Jun, 2013 | Proxy Voting Record

30 Jun, 2012 | Proxy Voting Record

30 Jun, 2011 | Proxy Voting Record

Warning: Documents posted on this website (including, without limitation, prospectuses) are current only as of the date on them

To access the SEDAR filings of First Asset Canadian Convertible Bond Fund please click here