Fixed income

IA Clarington Core Plus Bond Fund

Fixed income

Fund series navigation	Fund series information
Fund series navigation	Series F

NAV

as of

Fund code(s)

$CDN Series F

$CDN	FB
Series F	9308

Distribution frequency

Monthly, variable

MER

as of September 30, 2023

0.65%

Risk tolerance

Inception date

June 25, 2014

Fund assets

as of March 28, 2024

$702.2 million

Fund Facts

Fund Profile

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 March 28, 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	1.0	1.0	4.9	0.6	1.8	—	2.2

Calendar year performance (%)

Table view | Chart view

Description	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Rate of return	5.6	-7.0	2.3	5.1	5.4	1.1	2.6	3.2	2.6	—

Value of $10,000 investment

Disclaimers

Portfolio as of March 28, 2024

Asset mix

Equity

1.6%

Preferred Equities

1.4%

U.S. Equities

0.2%

Fixed Income

98.4%

Canadian Investment Grade Corporate Bonds

55.8%

Canadian High Yield Corporate Bonds

10.4%

Asset-Backed Securities

8.4%

U.S. Investment Grade Corporate Bonds

7.4%

Foreign Investment Grade Corporate Bonds

7.4%

Senior Loans

4.7%

U.S. High Yield Corporate Bonds

3.0%

Other

1.3%

Cash and Other Net Assets

0.0%

Geographic allocation

Canada

70.3%

United States

13.9%

Cayman Islands

6.5%

Europe-Other

4.7%

United Kingdom

2.9%

Australia & Oceania

1.7%

Total number of investments

250

Fixed income

239

Equity

Portfolio characteristics

Portfolio yield

6.6%

Average coupon

5.2%

Modified duration

3.1 yrs

Average term

11.9 yrs

Average credit quality

BBB

Credit rating

AAA

4.9%

3.9%

20.0%

BBB

53.5%

8.6%

0.6%

Pfd-2

1.4%

Not Rated

6.4%

Top holdings

Top 25 holdings

Fixed income

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

1.4%

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

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%

Stars Group Holdings BV, Term Loan, 2026-07-21

1.0%

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

1.0%

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

1.0%

Total allocation

11.6%

Top issuers

Canadian Imperial Bank of Commerce

6.0%

The Bank of Nova Scotia

5.0%

Enbridge Inc.

3.3%

Bank of Montreal

2.5%

Royal Bank of Canada

2.5%

Sienna Senior Living Inc.

2.4%

AGL CLO Ltd.

1.9%

SmartCentres REIT

1.9%

Chartwell Retirement Residences

1.8%

Primaris REIT

1.7%

Total allocation

29.0%

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

1.4%

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

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%

Stars Group Holdings BV, Term Loan, 2026-07-21

1.0%

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

1.0%

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

1.0%

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

1.0%

Crosthwaite Park CLO DAC, Series 1A, Class A1BR, Callable, 5.140%, 2034-03-15

1.0%

Magnetite Ltd., Series 37X, Class A, Callable, 7.076%, 2036-10-20

1.0%

AGL CLO Ltd., Series 27X, Class A, Callable, 7.048%, 2036-10-21

1.0%

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

1.0%

Dryden Leveraged Loan CDO, Series 85A, Class CR, Callable, 7.626%, 2035-10-15

1.0%

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

1.0%

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%

TransCanada Pipelines Ltd., 5.277%, 2030-07-15

0.9%

CIFC Funding Ltd., Series 5A, Class BR, Callable, 7.726%, 2035-01-15

0.9%

Canadian Imperial Bank of Commerce, 5.000%, 2026-12-07

0.9%

SNC-Lavalin Group Inc., 5.700%, 2029-03-26

0.9%

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 March 28, 2024

Recent distributions

Payment date	Frequency	$/unit or share
Mar. 28, 2024	Monthly, variable	0.03293
Feb. 29, 2024	Monthly, variable	0.03602
Jan. 31, 2024	Monthly, variable	0.03453
Dec. 31, 2023	Monthly, variable	0.02798
Nov. 30, 2023	Monthly, variable	0.03216
Oct. 31, 2023	Monthly, variable	0.02338
Sep. 30, 2023	Monthly, variable	0.03689
Aug. 31, 2023	Monthly, variable	0.03925
Jul. 31, 2023	Monthly, variable	0.03068
Jun. 30, 2023	Monthly, variable	0.03324
May. 31, 2023	Monthly, variable	0.03751
Apr. 30, 2023	Monthly, variable	0.03203

Distribution tax factors

Description	2023	2022	2021	2020	2019	2018	2017	2016
Canadian eligible dividends ($/unit or share)	$0.015	$0.009	$0.007	$0.015	$0.014	$0.023	$0.032	$0.033
Foreign income ($/unit or share)	$0.152	$0.175	$0.154	$0.139	$0.100	$0.110	$0.093	$0.128
Capital gain ($/unit or share)	—	—	$0.137	—	$0.032	$0.029	—	—
Other income ($/unit or share)	$0.226	$0.204	$0.148	$0.133	$0.175	$0.111	$0.111	$0.086
Return of capital ($/unit or share)	—	—	—	—	—	—	—	—
Total distribution ($/unit or share)	$0.393	$0.388	$0.446	$0.287	$0.321	$0.273	$0.236	$0.247
NAV Dec. 31 ($/unit or share)	$9.15	$9.05	$10.14	$10.36	$10.14	$9.93	$10.10	$10.07

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 F

MRFP - Annual

MRFP - Semi-Annual

Top 25 Holdings - Summary of investment portfolio

Support materials

2024 Market Outlook - Wellington Square

Core Plus Bond Fund overview

Core Plus Bond Fund performance overview

Fund Profile - Series F

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".

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 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