CI First Asset Canadian Convertible Bond ETF
Fund Overview
The Fund's objectives are to provide holders with (i) quarterly cash distributions, and (ii) the opportunity for capital appreciation by investing on a capitalization weighted basis in a portfolio (the "Convertible Portfolio") of Convertible Bonds of Canadian issuers. Inclusion of a Convertible Bond in the Convertible Portfolio is based upon the following criteria: (i) minimum market capitalization outstanding of $50 million; (ii) minimum trailing 30 day average daily volume traded of $150 thousand; (iii) publicly traded on a stock exchange in Canada; (iv) not currently in default of payment of either interest or principal; and (v) at least 31 days to maturity (either term or next call), provided that, to the extent that an index is developed and published which establishes criteria and methodologies, which are, in the opinion of the Manager, similar to that of the Fund, the Manager may decide, in its discretion, to track that index and invest pursuant to such index's methodology.
Investor suitability
For those who:
- want diversified Canadian convertible bond exposure
- want income but also want above average capital appreciation potential relative to traditional Canadian corporate bonds
- want to receive regular monthly cash flows (if any)
- can tolerate low to medium risk.
Performance
| 1m | 3m | 6m | YTD | 1y | 2y | 3y | 4y | 5y | SI | |
|---|---|---|---|---|---|---|---|---|---|---|
| CXF | 3.01% | 7.69% | -2.66% | -1.72% | 2.64% | 3.70% | 4.17% | 4.60% | 4.89% | 4.48% |
| As at: 31 Jul 2020 | ||||||||||
Historical NAVs
Sector Breakdown
As at June 30, 2020
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.
Key Facts
Fund Characteristics | |
| Weighted Average Duration | 3.23 |
|---|---|
| Weighted Average Term to Maturity | 3.63 |
| Weighted Average Coupon % | 5.04 |
| Weighted Average Yield to Maturity % | 5.69 |
| Weighted Average Current Yield % | 5.37 |
| As at 30 Jun, 2020 | |
Distributions
Twelve month trailing distribution yield : 5.04% (as at 5 Aug 2020)
| CXF | Total | Cash | Reinvested | Eligible dividends | Non eligible dividends | Other income | Capital Gains | Return of capital | Foreign Income | Foreign tax paid |
|---|---|---|---|---|---|---|---|---|---|---|
| SI | $4.39760 | $4.38960 | $0.00800 | $0.00106 | - | $3.59748 | $0.12402 | $0.39504 | - | - |
| 2020 + | $0.28000 | $0.28000 | - | - | - | - | - | - | - | - |
| 27-Jul | $0.04000 | $0.04000 | - | - | - | - | - | - | - | - |
| 24-Jun | $0.04000 | $0.04000 | - | - | - | - | - | - | - | - |
| 25-May | $0.04000 | $0.04000 | - | - | - | - | - | - | - | - |
| 24-Apr | $0.04000 | $0.04000 | - | - | - | - | - | - | - | - |
| 25-Mar | $0.04000 | $0.04000 | - | - | - | - | - | - | - | - |
| 24-Feb | $0.04000 | $0.04000 | - | - | - | - | - | - | - | - |
| 27-Jan | $0.04000 | $0.04000 | - | - | - | - | - | - | - | - |
| 2019 + | $0.48800 | $0.48000 | $0.00800 | - | - | $0.37381 | $0.11419 | - | - | - |
| 30-Dec | $0.00800 | - | $0.00800 | - | - | $0.00613 | $0.00187 | - | - | - |
| 23-Dec | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 25-Nov | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 25-Oct | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 24-Sep | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 26-Aug | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 25-Jul | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 24-Jun | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 27-May | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 24-Apr | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 25-Mar | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 22-Feb | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 25-Jan | $0.04000 | $0.04000 | - | - | - | $0.03064 | $0.00936 | - | - | - |
| 2018 + | $0.48000 | $0.48000 | - | - | - | $0.36364 | - | $0.11636 | - | - |
| 21-Dec | $0.04000 | $0.04000 | - | - | - | $0.00724 | - | $0.03276 | - | - |
| 26-Nov | $0.04000 | $0.04000 | - | - | - | $0.03240 | - | $0.00760 | - | - |
| 25-Oct | $0.04000 | $0.04000 | - | - | - | $0.03240 | - | $0.00760 | - | - |
| 24-Sep | $0.04000 | $0.04000 | - | - | - | $0.03240 | - | $0.00760 | - | - |
| 27-Aug | $0.04000 | $0.04000 | - | - | - | $0.03240 | - | $0.00760 | - | - |
| 25-Jul | $0.04000 | $0.04000 | - | - | - | $0.03240 | - | $0.00760 | - | - |
| 25-Jun | $0.04000 | $0.04000 | - | - | - | $0.03240 | - | $0.00760 | - | - |
| 25-May | $0.04000 | $0.04000 | - | - | - | $0.03240 | - | $0.00760 | - | - |
| 24-Apr | $0.04000 | $0.04000 | - | - | - | $0.03240 | - | $0.00760 | - | - |
| 23-Mar | $0.04000 | $0.04000 | - | - | - | $0.03240 | - | $0.00760 | - | - |
| 22-Feb | $0.04000 | $0.04000 | - | - | - | $0.03240 | - | $0.00760 | - | - |
| 25-Jan | $0.04000 | $0.04000 | - | - | - | $0.03240 | - | $0.00760 | - | - |
| 2017 + | $0.48000 | $0.48000 | - | - | - | $0.36012 | - | $0.11988 | - | - |
| 28-Dec | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 29-Nov | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 30-Oct | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 28-Sep | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 30-Aug | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 28-Jul | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 29-Jun | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 30-May | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 27-Apr | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 30-Mar | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 27-Feb | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 30-Jan | $0.04000 | $0.04000 | - | - | - | $0.03001 | - | $0.00999 | - | - |
| 2016 + | $0.46670 | $0.46670 | - | - | - | $0.36870 | - | $0.09800 | - | - |
| 29-Dec | $0.04000 | $0.04000 | - | - | - | $0.03160 | - | $0.00840 | - | - |
| 29-Nov | $0.04000 | $0.04000 | - | - | - | $0.03160 | - | $0.00840 | - | - |
| 28-Oct | $0.04000 | $0.04000 | - | - | - | $0.03160 | - | $0.00840 | - | - |
| 29-Sep | $0.04000 | $0.04000 | - | - | - | $0.03160 | - | $0.00840 | - | - |
| 30-Aug | $0.04000 | $0.04000 | - | - | - | $0.03160 | - | $0.00840 | - | - |
| 28-Jul | $0.04000 | $0.04000 | - | - | - | $0.03160 | - | $0.00840 | - | - |
| 29-Jun | $0.04000 | $0.04000 | - | - | - | $0.03160 | - | $0.00840 | - | - |
| 30-May | $0.04000 | $0.04000 | - | - | - | $0.03160 | - | $0.00840 | - | - |
| 28-Apr | $0.04000 | $0.04000 | - | - | - | $0.03160 | - | $0.00840 | - | - |
| 30-Mar | $0.03530 | $0.03530 | - | - | - | $0.02789 | - | $0.00741 | - | - |
| 26-Feb | $0.03550 | $0.03550 | - | - | - | $0.02805 | - | $0.00745 | - | - |
| 28-Jan | $0.03590 | $0.03590 | - | - | - | $0.02836 | - | $0.00754 | - | - |
| 2015 + | $0.43960 | $0.43960 | - | - | - | $0.43622 | - | $0.00338 | - | - |
| 30-Dec | $0.03550 | $0.03550 | - | - | - | $0.03523 | - | $0.00027 | - | - |
| 27-Nov | $0.03550 | $0.03550 | - | - | - | $0.03523 | - | $0.00027 | - | - |
| 29-Oct | $0.03530 | $0.03530 | - | - | - | $0.03503 | - | $0.00027 | - | - |
| 29-Sep | $0.03660 | $0.03660 | - | - | - | $0.03632 | - | $0.00028 | - | - |
| 28-Aug | $0.03650 | $0.03650 | - | - | - | $0.03622 | - | $0.00028 | - | - |
| 30-Jul | $0.03630 | $0.03630 | - | - | - | $0.03602 | - | $0.00028 | - | - |
| 29-Jun | $0.03630 | $0.03630 | - | - | - | $0.03602 | - | $0.00028 | - | - |
| 28-May | $0.03640 | $0.03640 | - | - | - | $0.03612 | - | $0.00028 | - | - |
| 29-Apr | $0.03630 | $0.03630 | - | - | - | $0.03602 | - | $0.00028 | - | - |
| 30-Mar | $0.03820 | $0.03820 | - | - | - | $0.03791 | - | $0.00029 | - | - |
| 26-Feb | $0.03830 | $0.03830 | - | - | - | $0.03800 | - | $0.00030 | - | - |
| 29-Jan | $0.03840 | $0.03840 | - | - | - | $0.03810 | - | $0.00030 | - | - |
| 2014 + | $0.48790 | $0.48790 | - | - | - | $0.44533 | - | $0.04257 | - | - |
| 30-Dec | $0.03980 | $0.03980 | - | - | - | $0.03633 | - | $0.00347 | - | - |
| 27-Nov | $0.03980 | $0.03980 | - | - | - | $0.03633 | - | $0.00347 | - | - |
| 30-Oct | $0.03980 | $0.03980 | - | - | - | $0.03633 | - | $0.00347 | - | - |
| 29-Sep | $0.03980 | $0.03980 | - | - | - | $0.03633 | - | $0.00347 | - | - |
| 28-Aug | $0.04000 | $0.04000 | - | - | - | $0.03651 | - | $0.00349 | - | - |
| 30-Jul | $0.04000 | $0.04000 | - | - | - | $0.03651 | - | $0.00349 | - | - |
| 27-Jun | $0.04090 | $0.04090 | - | - | - | $0.03733 | - | $0.00357 | - | - |
| 29-May | $0.04100 | $0.04100 | - | - | - | $0.03742 | - | $0.00358 | - | - |
| 29-Apr | $0.04170 | $0.04170 | - | - | - | $0.03806 | - | $0.00364 | - | - |
| 28-Mar | $0.04170 | $0.04170 | - | - | - | $0.03806 | - | $0.00364 | - | - |
| 27-Feb | $0.04170 | $0.04170 | - | - | - | $0.03806 | - | $0.00364 | - | - |
| 30-Jan | $0.04170 | $0.04170 | - | - | - | $0.03806 | - | $0.00364 | - | - |
| 2013 + | $0.50860 | $0.50860 | - | - | - | $0.49375 | - | $0.01485 | - | - |
| 30-Dec | $0.04170 | $0.04170 | - | - | - | $0.04048 | - | $0.00122 | - | - |
| 28-Nov | $0.05210 | $0.05210 | - | - | - | $0.05058 | - | $0.00152 | - | - |
| 30-Oct | $0.05210 | $0.05210 | - | - | - | $0.05058 | - | $0.00152 | - | - |
| 27-Sep | $0.04170 | $0.04170 | - | - | - | $0.04048 | - | $0.00122 | - | - |
| 29-Aug | $0.04170 | $0.04170 | - | - | - | $0.04048 | - | $0.00122 | - | - |
| 30-Jul | $0.04170 | $0.04170 | - | - | - | $0.04048 | - | $0.00122 | - | - |
| 27-Jun | $0.04170 | $0.04170 | - | - | - | $0.04048 | - | $0.00122 | - | - |
| 30-May | $0.04170 | $0.04170 | - | - | - | $0.04048 | - | $0.00122 | - | - |
| 29-Apr | $0.04170 | $0.04170 | - | - | - | $0.04048 | - | $0.00122 | - | - |
| 27-Mar | $0.03750 | $0.03750 | - | - | - | $0.03641 | - | $0.00109 | - | - |
| 27-Feb | $0.03750 | $0.03750 | - | - | - | $0.03641 | - | $0.00109 | - | - |
| 30-Jan | $0.03750 | $0.03750 | - | - | - | $0.03641 | - | $0.00109 | - | - |
| 2012 + | $0.48220 | $0.48220 | - | $0.00106 | - | $0.48114 | - | - | - | - |
| 28-Dec | $0.04600 | $0.04600 | - | $0.00010 | - | $0.04590 | - | - | - | - |
| 29-Nov | $0.03420 | $0.03420 | - | $0.00008 | - | $0.03412 | - | - | - | - |
| 30-Oct | $0.03420 | $0.03420 | - | $0.00008 | - | $0.03412 | - | - | - | - |
| 27-Sep | $0.03420 | $0.03420 | - | $0.00008 | - | $0.03412 | - | - | - | - |
| 30-Aug | $0.04170 | $0.04170 | - | $0.00009 | - | $0.04161 | - | - | - | - |
| 30-Jul | $0.04170 | $0.04170 | - | $0.00009 | - | $0.04161 | - | - | - | - |
| 30-Jun | $0.04170 | $0.04170 | - | $0.00009 | - | $0.04161 | - | - | - | - |
| 30-May | $0.04170 | $0.04170 | - | $0.00009 | - | $0.04161 | - | - | - | - |
| 27-Apr | $0.04170 | $0.04170 | - | $0.00009 | - | $0.04161 | - | - | - | - |
| 29-Mar | $0.04170 | $0.04170 | - | $0.00009 | - | $0.04161 | - | - | - | - |
| 29-Feb | $0.04170 | $0.04170 | - | $0.00009 | - | $0.04161 | - | - | - | - |
| 30-Jan | $0.04170 | $0.04170 | - | $0.00009 | - | $0.04161 | - | - | - | - |
| 2011 + | $0.28460 | $0.28460 | - | - | - | $0.27477 | $0.00983 | - | - | - |
| 29-Dec | $0.04170 | $0.04170 | - | - | - | $0.04026 | $0.00144 | - | - | - |
| 29-Nov | $0.04170 | $0.04170 | - | - | - | $0.04026 | $0.00144 | - | - | - |
| 28-Oct | $0.04170 | $0.04170 | - | - | - | $0.04026 | $0.00144 | - | - | - |
| 29-Sep | $0.04170 | $0.04170 | - | - | - | $0.04026 | $0.00144 | - | - | - |
| 30-Aug | $0.11780 | $0.11780 | - | - | - | $0.11373 | $0.00407 | - | - | - |
(1) Future distribution dates may be amended at any time. (2) Reinvested distributions are not paid in cash but instead remain invested in the Fund. To recognize that these distributions have been allocated to investors for tax purposes the amounts of these distributions should be added to the adjusted cost base of the units held. (3) The characterization of distributions for tax purposes (such as dividends/other income/capital gains etc.) will not be known for certain until after the Fund's tax year end. Therefore investors will be informed of the characterization of the amounts distributed for tax purposes only for the entire year and not with each distribution. For tax purposes these amounts will be reported by brokers on official tax statements.
News
Documents
31 Dec, 2019 - Annual Financial Statements
30 Jun, 2019 - Interim Financial Statements
31 Dec, 2019 - Annual Management Report of Fund Performance
30 Jun, 2019 - Interim Management Report of Fund Performance
31 Mar, 2020 - Summary of Investment Portfolio
30 Sep, 2019 - Summary of Investment Portfolio
National Instrument 81-106 Investment Fund Continuous Disclosure requires disclosure of the proxy voting record on an annual basis for the period ending on June 30 of each year. The proxy voting record must be posted on the website no later than August 31 of each year.
Canadian securities law provides that the manager of an investment funds (in this case, CI Investments Inc. ("CI")), acting on behalf of the investment fund, has the right and obligation to vote proxies relating to the investment fund's portfolio securities. As a practical matter, CI delegates this function to the applicable portfolio manager or sub-adviser, as part of the portfolio manager's or sub-adviser's general management of the investment fund assets, subject to oversight by CI. CI generally requires that applicable portfolio managers or sub-advisers vote all proxies in the best interest of CI's funds and their securityholders, as determined solely by the portfolio manager or sub-adviser, and subject to CI's proxy voting policy, the guidelines applicable to the individual portfolio manager or sub-adviser, and applicable legislation. Portfolio managers and sub-advisers are generally expected to vote on any matter for which the investment fund receives proxy materials for a meeting of securityholders of an issuer.
Proxy voting record for the most recent year:
30 Jun, 2019 - 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 CI First Asset Canadian Convertible Bond ETF please click here