Fund Overview

 

The investment objective of the Fixed Income Fund is to provide total long term returns primarily through interest income and moderate capital appreciation. To achieve this objective, the fund invests mainly in high quality fixed income securities issued or guaranteed by North American or International corporations or governments. The fund relies on student analysis to identify fixed income securities which are believed to offer the greatest opportunity for income or capital appreciation on a relative risk basis.

 

The Fixed Income Fund performs bottom-up fundamental analysis of individual credit, coupled with macro analysis used to manage duration and currency allocations. With a geographic focus in North America, we make investments in companies across industry sector and the credit-rating spectrum. At times, we identify interesting global macro themes and look for opportunities yielding attractive risk-adjusted returns.

 

The Fixed Income Fund currently has approximately $1.5M in assets under management.

 

Fund Details

 

• Manager: Desautels Capital Management Inc.

• Custodian: CIBC Mellon

• Legal Advisor: Border Ladner Gervais LLP

• Fund Auditor: Deloitte LLP

• Inception Date: January 2010

• Minimum Investment: $50,000

• Liquidity: Every Friday on 30 days' notice

• Benchmark: 45% Barclays Aggregate Bond Index, 45% DEX Universe Bond Index, 10% Citi International Treasury Bond Index, in CAD

• Management Fee: 0.5% per annum

• Investment Objective: Exceed benchmark return by 25 basis points, net of fees, per year, as measured over a four-year rolling period

• Target Number of Securities: 10 - 20

• Duration: 2-8 years

• Maximum in North American Provies: 50%

• Maximum in North American Corporates: 50%

• Maximum in High Yield Securities: 15%

• Maximum in ex-North American Govies: 20%

• Leverage: The use of leverage is not permitted