Investment Objective
To generate income and long-term capital growth by tracking the performance of the Morningstar® Canada Liquid Bond Index, an index of Canadian government and corporation bonds. The fund invests directly, or indirectly through investments in securities of other mutualfunds or through the use of derivatives, in a portfolio composed mainly of Canadian bonds.
Fund Details
Investment horizon
Fund volatility
Minimum Initial Investment:
-
Subsequent Investment:
-
Systematic Investment:
-
Distribution Frequency:
Monthly
Assets Under Management ($M):
$67.4
Price per Unit:
$7.33
Inception Date:
May 22, 2018
Value of $10,000 since inception:
$11,743
Benchmark Index:
Morningstar Canada Liquid Bond Index
Management Fee:
-
MER:
0.03%
Portfolio Manager:
National Bank Investments Inc.
Portfolio Asset Mix
(% of Net Assets)
| Cdn Corp Bonds - Invest Grade | 39.14% |
| Canadian Government Bonds | 28.62% |
| Canadian Provincial Bonds | 24.20% |
| Cdn Corp Bonds - Other | 7.36% |
| Cash and Equivalents | 0.68% |
| Credit Rating | % |
|---|---|
| AAA | 0.06 |
| AA | 73.59 |
| A | 14.13 |
| BBB | 12.22 |
| Average Duration (Years) | 6.63 |
| Average Maturity (Years) | 9.05 |
| Gross Yield to Maturity (%)† | 3.68 |
| Gross Current Yield (%)‡ | 3.53 |
| Top Holdings | % |
|---|---|
| Canada Government 2.00% 01-Jun-2028 | 7.95 |
| Canada Government 2.25% 01-Jun-2029 | 5.89 |
| Bank of Montreal 3.19% 01-Mar-2028 | 5.36 |
| Canada Government 1.25% 01-Jun-2030 | 4.92 |
| Rogers Communications Inc 6.75% 09-Nov-2039 | 2.96 |
| Canada Government 2.75% 01-Jun-2033 | 2.84 |
| North West Redwater Partnershp 4.25% 01-Mar-2029 | 2.84 |
| iShares Core Canadian Universe Bond Idx ETF (XBB) | 2.51 |
| Canadian Imperial Bank Commrce 5.00% 07-Dec-2026 | 2.36 |
| Ontario Province 2.70% 02-Jun-2029 | 2.30 |
| Total of Top Holdings of the Fund (% of Net Assets): |
39.93 |
| Total Number of Securities Held: | 85 |
| Allocation by Maturity | % |
|---|---|
| Short Term | 43.72 |
| Mid Term | 23.44 |
| Long Term | 32.85 |
Calendar Returns (%)
| YTD | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|
| 1.52 | 4.85 | 7.63 | -11.07 | -2.33 | 8.74 | 6.25 |
Annualized Returns (%)
| 1 M | 3 M | 6 M | 1 Y | 3 Y | 5 Y | 10 Y | Incp. |
|---|---|---|---|---|---|---|---|
| 0.14 | -0.27 | 1.52 | 6.30 | 4.89 | 0.20 | - | 2.29 |
†The rate of return anticipated on a bond if it is held until the maturity date expressed as an annual rate. It is assumed that all coupons are reinvested at the same rate.
‡Annual income paid by a bond or a stock, expressed as a percentage of its current market price. It does not include any capital gains or losses that may be realized upon maturity.
Disclosure
NBI Mutual Funds (the “Funds”) are offered by National Bank Investments Inc. an indirect wholly owned subsidiary of National Bank of Canada and sold by authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds. Please read the prospectus of the Funds before investing. The indicated rates of return are the historical annual compounded total returns which include changes in the value of securities and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. The Funds’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. For money market funds, there can be no assurances that a fund will be able to maintain its net asset value per security at a constant amount or that the full amount of the investment in a fund will be returned. The Funds are not guaranteed, their values change frequently and past performance may not be repeated.