Fixed income

IA Clarington Core Plus Bond Fund

Fixed income

Fund series navigation	Fund series information
Fund series navigation	Series E5

NAV

as of

Fund code(s)

$CDN Series E5

$CDN	FE
Series E5	4975

Distribution frequency

Monthly, fixed

MER

as of N/A

N/A

Risk tolerance

Inception date

June 30, 2023

Fund assets

as of June 30, 2024

$712.6 million

Fund Facts

Investment goal

The fund seeks to obtain current income while preserving capital and mitigating the effects of interest rate fluctuations through investments in and exposure to bonds including government bonds, investment grade bonds and high yield bonds, as well as other income-producing securities such as asset-backed securities and senior floating rate loans.

Key reasons to invest

Focus on capital preservation through an investment grade portfolio.

Diversification beyond traditional fixed income strategies.

Enhanced yield potential from non-investment grade exposure (max 25%) and wide latitude in credit selection.

Portfolio manager(s)

Jeff Sujitno
HBA, CPA, CIM
Wellington Square
Read Jeff Sujitno's bio

Amar Dhanoya
MBA, CFA
Wellington Square Advisors Inc.
Read Amar Dhanoya's bio

Andrew Khazzam
CFA
Wellington Square Advisors Inc.
Read Andrew Khazzam's bio

Tracy Zhao
CFA
Wellington Square Advisors Inc.
Read Tracy Zhao's bio

Monthly commentary

Monthly Commentary

Quarterly commentary

Quarterly Commentary - Core Plus Bond Fund

Disclaimers

Performance as of June 30, 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	0.7	0.3	1.1	5.0	—	—	—	5.0

Calendar year performance (%)

Table view | Chart view

Performance data is not available for a full calendar year.

Value of $10,000 investment

Disclaimers

Portfolio as of June 30, 2024

Asset mix

Equity

1.1%

Other

1.1%

Fixed Income

97.5%

Canadian Investment Grade Corporate Bonds

59.9%

Foreign Investment Grade Corporate Bonds

8.7%

Canadian High Yield Corporate Bonds

8.0%

Asset-Backed Securities

7.9%

U.S. Investment Grade Corporate Bonds

6.1%

Senior Loans

3.2%

U.S. High Yield Corporate Bonds

2.4%

Other

1.3%

Cash and other

1.4%

Cash and Other Net Assets

1.4%

Geographic allocation

Canada

70.3%

United States

11.8%

Europe-Other

6.2%

Cayman Islands

6.0%

United Kingdom

2.8%

Australia & Oceania

1.5%

Total number of investments

225

Fixed income

215

Equity

Portfolio characteristics

Portfolio yield

6.4%

Average coupon

5.1%

Modified duration

3.2 yrs

Average term

12.5 yrs

Average credit quality

BBB

Credit rating

AAA

4.9%

3.5%

22.6%

BBB

53.6%

6.9%

0.4%

Pfd-2

1.0%

Not Rated

5.1%

Top holdings

Top 25 holdings

Fixed income

The Bank of Nova Scotia, 3.625%, 2081-10-27

1.5%

Canadian Imperial Bank of Commerce, 4.000%, 2082-01-28

1.4%

Fore 8 Developments Inc., 8.000%, 2025-12-15

1.3%

Royal Bank of Canada, 4.500%, 2080-11-24

1.2%

Chartwell Retirement Residences, 6.000%, 2026-12-08

1.1%

Enbridge Inc., 8.495%, 2084-01-15

1.1%

Canadian Imperial Bank of Commerce, 4.200%, 2032-04-07

1.1%

Inter Pipeline Ltd., 5.710%, 2030-05-29

1.1%

Crosthwaite Park CLO DAC, Series 1A, Class A1BR, Callable, 4.919%, 2034-03-15

1.0%

Bank of Montreal, 6.034%, 2033-09-07

1.0%

Total allocation

11.8%

Top issuers

The Bank of Nova Scotia

5.6%

Canadian Imperial Bank of Commerce

5.3%

Bank of Montreal

3.1%

Enbridge Inc.

2.6%

Sienna Senior Living Inc.

2.4%

Coastal Gaslink Pipeline LP

2.2%

Royal Bank of Canada

2.2%

The Toronto-Dominion Bank

2.1%

Primaris REIT

1.9%

Allied Properties REIT

1.9%

Total allocation

29.3%

The Bank of Nova Scotia, 3.625%, 2081-10-27

1.5%

Canadian Imperial Bank of Commerce, 4.000%, 2082-01-28

1.4%

Cash and Net Other Assets

1.4%

Fore 8 Developments Inc., 8.000%, 2025-12-15

1.3%

Royal Bank of Canada, 4.500%, 2080-11-24

1.2%

Chartwell Retirement Residences, 6.000%, 2026-12-08

1.1%

Enbridge Inc., 8.495%, 2084-01-15

1.1%

Canadian Imperial Bank of Commerce, 4.200%, 2032-04-07

1.1%

Inter Pipeline Ltd., 5.710%, 2030-05-29

1.1%

Crosthwaite Park CLO DAC, Series 1A, Class A1BR, Callable, 4.919%, 2034-03-15

1.0%

Bank of Montreal, 6.034%, 2033-09-07

1.0%

The Bank of Nova Scotia, 5.679%, 2033-08-02

1.0%

Magnetite Ltd., Series 37X, Class A, Callable, 6.975%, 2036-10-20

1.0%

National Australia Bank Ltd., 3.515%, 2030-06-12

1.0%

AGL CLO Ltd., Series 27X, Class A, Callable, 7.055%, 2036-10-21

1.0%

Dryden Leveraged Loan CDO, Series 85A, Class CR, Callable, 7.640%, 2035-10-15

1.0%

Cenovus Energy Inc., 3.500%, 2028-02-07

0.9%

Aviva PLC, 4.000%, 2030-10-02

0.9%

Sienna Senior Living Inc., 3.109%, 2024-11-04

0.9%

AGL CLO Ltd., Series 28A, Class A, Callable, 7.003%, 2037-01-21

0.9%

SmartCentres REIT, 3.526%, 2029-12-20

0.9%

CIFC Funding Ltd., Series 5A, Class BR, Callable, 7.740%, 2035-01-15

0.9%

Canadian Imperial Bank of Commerce, 5.300%, 2034-01-16

0.9%

The Bank of Nova Scotia, 3.934%, 2032-05-03

0.8%

Manulife Financial Corp., 4.100%, 2082-03-19

0.8%

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.

Interest rate payments for the following securities in the fund are reset periodically: senior loan (term loans), CLO (Collateralized Loan Obligations), MBS (Mortgage-Backed Securities), and ABS (Asset-Backed Securities). As a result, in calculating the modified duration of the Fund, these securities are individually assigned a duration based on its interest rate reset frequency. A security is assigned a duration of 0.08 years if its interest payments are reset monthly, a duration of 0.25 years if reset quarterly, 0.5 if reset semi-annually, and 1 if reset annually.

Distributions as of June 30, 2024

Recent distributions

Payment date	Frequency	$/unit or share
Jun. 30, 2024	Monthly, fixed	0.04167
May. 31, 2024	Monthly, fixed	0.04167
Apr. 30, 2024	Monthly, fixed	0.04167
Mar. 31, 2024	Monthly, fixed	0.04167
Feb. 29, 2024	Monthly, fixed	0.04167
Jan. 31, 2024	Monthly, fixed	0.04167
Dec. 31, 2023	Monthly, fixed	0.04167
Nov. 30, 2023	Monthly, fixed	0.04167
Oct. 31, 2023	Monthly, fixed	0.04167
Sep. 30, 2023	Monthly, fixed	0.04167
Aug. 31, 2023	Monthly, fixed	0.04167
Jul. 31, 2023	Monthly, fixed	0.04167

Distribution tax factors

Description	2023
Canadian eligible dividends ($/unit or share)	$0.006
Foreign income ($/unit or share)	$0.059
Capital gain ($/unit or share)	—
Other income ($/unit or share)	$0.088
Return of capital ($/unit or share)	$0.097
Total distribution ($/unit or share)	$0.250
NAV Dec. 31 ($/unit or share)	$10.13

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:

Download Chart

Download NAVs

Disclaimers

Documents

Regulatory documents

Financial Statement - Annual

Financial Statement - Semi-Annual

Fund Facts - Series E5

MRFP - Annual

MRFP - Semi-Annual

Top 25 Holdings - Summary of investment portfolio

Support materials

2024 Market Outlook - Wellington Square

2024 Mid-Year Review - Wellington Square

Core Plus Bond Fund overview

Core Plus Bond Fund performance overview

Investor Brochure

Market Insights - Jeff Sujitno

Other

Disclaimers

Wellington Square refers to Wellington Square Capital Partners Inc. (sub-advisor) and Wellington Square Advisors Inc. (sub-sub advisor).

Periodically, specific securities in the Portfolio section may not be disclosed, as disclosure may impair the portfolio manager’s ability to transact the security, which may result in harm for the Fund and its unitholders. These are noted as "Undisclosed".

Performance data is not presented for a Fund that has been distributing securities for less than 12 consecutive months. For an existing mutual fund where one or more of its Series have existed for less than 12 consecutive months ("new series"), performance data specific to each new series is not shown. The performance data of different series may differ for a number of reasons, including but not limited to the different fee structures.

Where the MER is not listed, this information is not yet available because this is a new fund or series and is not yet required to file its first MRFP.

Quick list

Select up to 25 funds for your personal reference

Compare funds

Select up to 3 funds for quick comparison

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