"With central banks becoming more hawkish, and with volatility in bond yields, fixed income managers need to be nimble and have the tools at their disposal to quickly and tactically navigate through risks and opportunities"
- Paul Sandhu, Vice-President and Portfolio Manager, Marret Asset Management Inc. | August 2017
Our best-selling ETF, First Asset Investment Grade Bond ETF (TSX: FIG), actively managed by Paul Sandhu of Marret Asset Management, was both the top performing and highest yielding ETF in Morningstar’s Canadian Fixed Income category for the 1 year and YTD periods ended July 31st, 2017.1
Through both rising and falling yield environments, Paul has demonstrated his ability to add alpha through his active, flexible approach to managing credit, duration and currency risk.
|YTD||1 Year||3 Years||5 Years||Since Inception
(Oct 23, 2009)2
|First Asset Investment Grade Bond ETF||2.87%||2.72%||2.51%||3.07%||4.38%|
|FTSE TMX Canada All Corporate Bond Index||1.45%||0.43%||3.35%||3.65%||5.00%|
|FTSE TMX Canada Universe Bond Index||0.42%||-2.70%||2.91%||2.76%||4.19%|
(Morningstar Canadian Fixed Income)
|as at July 31, 2017|
Core fixed income portfolio comprised of high quality, liquid investments
Attractive monthly distributions
Focus on capital preservation and risk-adjusted returns
Actively managed by Paul Sandhu (Marret Asset Management), one of Canada's preeminent bond investors, who's experience working with domestic and international fixed income dates back to 1987
1 Source: Morningstar Direct. FIG was the top performing fund within Morningstar's "Canadian Fixed Income" category for ETFs, for both the 1 year and YTD periods ended July 31, 2017. The Morningstar ranking for FIG and the number of funds its compared to within the category for each period, respectively, are: 1yr period, [1st, 27]; 3yr period, [11th, 23]; 5yr period, [5th, 17]; 10yr period, [n/a, 3]. The Morningstar performance ranking is solely based on total return performance, and is annualized for periods greater than 1 year. The fund's performance is subject to change every month. © Morningstar Inc. All Rights Reserved. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
2 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. The Fund was originally launched as a TSX-listed closed-end fund on October 23, 2009, and converted into an exchange traded fund on August 22, 2016. Performance shown is since inception of the closed-end fund. In connection with the conversion, and pursuant to unitholder approval, the annual management fee payable by the Fund to First Asset, as manager, was increased to 0.65% (from 0.50%) of the NAV per unit and certain changes were made to the investment objectives, strategies and restrictions applicable to the Fund. Material among these changes is that the Fund is no longer able to utilize leverage in its portfolio. Had these changes been in effect prior to this date the performance of the Fund could have been different.
Mr. Sandhu has 29 years of domestic and international fixed-income experience. Prior to joining Marret, he was responsible for the global distribution of Canadian fixed-income and money market products at BMO Capital Markets and was directly responsible for advising the world's largest fixed-income asset managers on portfolio strategy, asset mix, security selection, and alpha/beta generation.