Fixed income

IA Clarington Strategic Corporate Bond Fund

Fixed income

Fund series navigation	Fund series information
Fund series navigation	Series A

NAV

as of

Fund code(s)

$CDN Series A

$CDN	FE	LL	DSC
Series A	3550	3552 Closed	3551 Closed

Distribution frequency

Monthly, variable

MER

as of March 31, 2024

2.00%

Risk tolerance

Inception date

September 26, 2011

Fund assets

as of October 31, 2024

$791.1 million

Fund Facts

Fund Profile

Investment goal

The Fund’s objective is to provide income and the potential for long term capital growth by investing primarily in fixed income securities with an emphasis on corporate and other higher yielding fixed income securities.

Key reasons to invest

High yield corporate bonds have historical returns similar to equities with lower volatility

Fixed income diversification through high yield debt securities which may have lower interest rate sensitivity than investment grade bonds

Rigorous & active investment process that focuses on safety of income and incorporates the manager’s macro outlook

Portfolio manager(s)

Dan Bastasic
CFA, MBA
iA Global Asset Management Inc.
Read Dan Bastasic's bio

Monthly commentary

Monthly Commentary

Quarterly commentary

Quarterly Commentary - Strategic Corporate Bond Fund

Disclaimers

Performance as of October 31, 2024

Fund performance (%)

Table view | Chart view

Description	1-month	3-month	YTD	1-year	3-year	5-year	10-year	Since inception
Rate of return	0.2	1.9	6.1	11.4	2.0	2.9	2.9	3.8

Calendar year performance (%)

Table view | Chart view

Description	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Rate of return	6.4	-6.3	5.1	3.1	5.1	-1.6	2.7	16.2	-4.6	3.1

Value of $10,000 investment

Disclaimers

Portfolio as of October 31, 2024

Asset mix

Equity

1.5%

Preferred Equities

1.3%

Other

0.2%

Fixed Income

87.7%

Canadian High Yield Corporate Bonds

50.8%

U.S. High Yield Corporate Bonds

16.4%

Canadian Investment Grade Corporate Bonds

9.4%

U.S. Investment Grade Corporate Bonds

6.2%

Investment Fund(s) - Fixed Income

3.8%

Other

1.1%

Cash and other

10.8%

Cash and Other Net Assets

10.8%

Geographic allocation

Canada

75.6%

United States

25.5%

Europe

0.7%

Total number of investments

114

Fixed income

104

Equity

Portfolio characteristics

Portfolio yield

6.1%

Average coupon

6.6%

Modified duration

2.5 yrs

Average term

8.5 yrs

Average credit quality

Credit rating

3.3%

BBB

12.3%

43.8%

19.6%

CCC

2.9%

Pfd-2

0.6%

Pfd-3

0.7%

12.5%

Not Rated

2.0%

Top holdings

Top 25 holdings

Fixed income

Brookfield Corp., 5.087%, 2024-11-25

2.6%

Brookfield Corp., 4.792%, 2024-11-01

2.5%

KeHE Distributors LLC / KeHE Finance Corp. / NextWave Distribution Inc., 9.000%, 2029-02-15

2.4%

Doman Building Materials Group Ltd., 7.500%, 2029-09-17

2.2%

Enbridge Gas Inc., 4.097%, 2024-11-01

2.1%

iShares iBoxx $ Investment Grade Corporate Bond ETF

2.1%

AtkinsRéalis Group Inc., 7.000%, 2026-06-12

2.0%

Chemtrade Logistics Inc., 6.375%, 2029-08-28

1.7%

ATS Corp., 6.500%, 2032-08-21

1.7%

Enbridge Inc., 4.185%, 2024-11-18

1.6%

Total allocation

20.9%

Top issuers

Brookfield Corp.

5.5%

goeasy Ltd.

4.4%

Enbridge Inc.

4.3%

Doman Building Materials Group Ltd.

3.6%

Enbridge Gas Inc.

2.8%

Garda World Security Corp.

2.7%

KeHE Distributors LLC / KeHE Finance Corp. / NextWave Distribution Inc.

2.4%

Kruger Products Inc.

2.4%

GFL Environmental Inc.

2.3%

Bombardier Inc.

2.1%

Total allocation

32.5%

Brookfield Corp., 5.087%, 2024-11-25

2.6%

Brookfield Corp., 4.792%, 2024-11-01

2.5%

KeHE Distributors LLC / KeHE Finance Corp. / NextWave Distribution Inc., 9.000%, 2029-02-15

2.4%

Doman Building Materials Group Ltd., 7.500%, 2029-09-17

2.2%

Enbridge Gas Inc., 4.097%, 2024-11-01

2.1%

iShares iBoxx $ Investment Grade Corporate Bond ETF

2.1%

AtkinsRéalis Group Inc., 7.000%, 2026-06-12

2.0%

Chemtrade Logistics Inc., 6.375%, 2029-08-28

1.7%

ATS Corp., 6.500%, 2032-08-21

1.7%

Enbridge Inc., 4.185%, 2024-11-18

1.6%

Garda World Security Corp., 9.500%, 2027-11-01

1.6%

TransDigm Inc., 6.750%, 2028-08-15

1.6%

Superior Plus LP, 4.250%, 2028-05-18

1.6%

G. Cooper Equipment Rentals Ltd., 7.450%, 2029-07-04

1.6%

CCO Holdings LLC/CCO Holdings Capital Corp., 7.375%, 2031-03-01

1.6%

Wolf Midstream Canada LP., 6.400%, 2029-07-18

1.6%

Cineplex Inc., 7.625%, 2029-03-31

1.6%

Secure Energy Services Inc., 6.750%, 2029-03-22

1.5%

NOVA Chemicals Corp., 9.000%, 2030-02-15

1.5%

Uber Technologies Inc., 8.000%, 2026-11-01

1.5%

Northland Power Inc., 9.250%, 2083-06-30

1.4%

Wynn Las Vegas LLC/Capital Corp., 5.250%, 2027-05-15

1.4%

Doman Building Materials Group Ltd., 5.250%, 2026-05-15

1.4%

Air Canada, 4.625%, 2029-08-15

1.4%

CES Energy Solutions Corp., 6.875%, 2029-05-24

1.3%

Disclaimers

Cash is included in the average credit quality.

The credit quality of debt instruments of the Fund through direct holdings and/or underlying funds. Credit ratings are obtained from DBRS, Standard & Poor's or Moody's. DBRS rating or equivalent is presented.

Cash and cash equivalents are excluded.

Excludes cash and other net assets and applicable investment funds not managed by IA Clarington Investments Inc.

Distributions as of October 31, 2024

Recent distributions

Payment date	Frequency	$/unit or share
Oct. 31, 2024	Monthly, variable	0.03637
Sep. 30, 2024	Monthly, variable	0.03005
Aug. 31, 2024	Monthly, variable	0.03157
Jul. 31, 2024	Monthly, variable	0.03202
Jun. 30, 2024	Monthly, variable	0.03265
May. 31, 2024	Monthly, variable	0.03074
Apr. 30, 2024	Monthly, variable	0.03330
Mar. 31, 2024	Monthly, variable	0.03191
Feb. 29, 2024	Monthly, variable	0.02809
Jan. 31, 2024	Monthly, variable	0.02705
Dec. 31, 2023	Monthly, variable	0.03211
Nov. 30, 2023	Monthly, variable	0.03066

Distribution tax factors

Description	2023	2022	2021	2020	2019	2018	2017	2016
Canadian eligible dividends ($/unit or share)	$0.010	$0.009	$0.009	$0.008	$0.013	$0.013	$0.004	—
Foreign income ($/unit or share)	$0.105	$0.087	$0.076	$0.112	$0.124	$0.160	$0.186	$0.233
Capital gain ($/unit or share)	—	—	—	—	—	—	—	—
Other income ($/unit or share)	$0.231	$0.229	$0.240	$0.320	$0.273	$0.282	$0.304	$0.302
Return of capital ($/unit or share)	—	—	—	—	—	—	—	—
Total distribution ($/unit or share)	$0.346	$0.325	$0.325	$0.440	$0.410	$0.455	$0.494	$0.535
NAV Dec. 31 ($/unit or share)	$9.00	$8.79	$9.73	$9.57	$9.74	$9.66	$10.26	$10.47

Disclaimers

Distribution data may not be shown for years in which the distribution amount was immaterial. For funds with a track record of less than 12 months, distribution data cannot be shown.

The distribution information presented is based on the calendar year-end, and is indicated in dollar per unit or share.

Historical

Historical prices

Start NAV:

End NAV:

Min. NAV:

Max. NAV:

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Download NAVs

Disclaimers

Documents

Regulatory documents

Financial Statement - Annual

Financial Statement - Semi-Annual

Fund Facts - Series A

MRFP - Annual

MRFP - Semi-Annual

Top 25 Holdings - Summary of investment portfolio

Support materials

2024 Market Outlook - Dan Bastasic

2024 Mid-Year Review - Dan Bastasic

Dan Bastasic Investment Philosophy

Fund Profile - Series A

Investor Brochure

Market Insights - Dan Bastasic

Strategic Corporate Bond Fund - Monthly Commentary

Strategic Corporate Bond Fund - Performance overview

Strategic Corporate Bond Fund overview

Webcasts, podcasts and conference calls - Dan Bastasic

Other

Disclaimers

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Series I

For institutional investors only. Not available for individual investors.

Series V

For institutional investors only. Not available for individual investors.

Series O

For institutional investors only. Not available for individual investors.

Series A

Front-end, low-load and deferred sales commission options (depending on Fund).

Series B

Available to investors in a front-end purchase option.

Series B5

Available to investors in a front-end purchase option. This is a payout series for investors seeking regular monthly distributions.

Series DA

Front-end series for lump-sum investments into the Dollar-Cost Averaging Service.

Series DF

Fee-based series for lump-sum investments into the Dollar-Cost Averaging Service.

Series E

Elite Pricing front-end series for qualifying investors.

Series E4

Elite Pricing front-end series for qualifying investors seeking regular monthly distributions.

Series E5

Elite Pricing front-end series for qualifying investors seeking regular monthly distributions.

Series E6

Elite Pricing front-end series for qualifying investors seeking regular monthly distributions.

Series E8

Elite Pricing front-end series for qualifying investors seeking regular monthly distributions.

Series EF

Elite Pricing fee-based series for qualifying investors participating in a fee-based program through their dealer. This series is closed to new investors.

Series EF4

Elite Pricing fee-based series for qualifying investors participating in a fee-based program through their dealer. This is a payout series for investors seeking regular monthly distributions; it is closed to new investors.

Series EF5

Series EF6

Series EFX

Elite Pricing fee-based series for qualifying investors participating in a fee-based program through their dealer. This series is closed to new investors.

Series EFX6

Series ETF

TSX-listed ETF series.

Series EX

Elite Pricing front-end series for qualifying investors. This series is closed to new investors.

Series EX5

Elite Pricing front-end series for qualifying investors. This is a payout series for investors seeking regular monthly distributions; it is closed to new investors.

Series EX6

Elite Pricing front-end series for qualifying investors. This is a payout series for investors seeking regular monthly distributions; it is closed to new investors.

Series F

Fee-based series for investors participating in a fee-based program through their dealer.

Series F10