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Renaissance Investments™

Renaissance High-Yield Bond Fund [Class A]

Investment Objective

To generate a high level of current income, primarily through investment in high-yield corporate bonds from issuers around the world and, where consistent with this objective, the Fund will also seek capital appreciation.

Fund Specifications

Minimum Initial Investment:
Lump Sum
Initial: $500
Subsequent: $100

Distribution of Earnings:
This Fund expects to distribute net income monthly. Distributions of net realized capital gains occur annually in December.

Pre-Authorized Chequing Investment (PAC) or Group RRSP:
$50 minimum investment for monthly, quarterly, semi-annual or annual deposit.

Systematic Withdrawal Plan:
With minimum initial account value of $10,000. Withdrawals may be made monthly, quarterly, semi-annually or annually. $50 minimum.

Annual Management Fee (excluding applicable taxes): 1.50%

Annualized Management Expense Ratio (including applicable taxes) as at August 31, 2016: 1.93%

Front-End Load Option ATL908
Back-End Load Option ATL823
Low Load Option ATL667
Inception Date: September 23, 1994
Assets Under Management (000’s)
As at: 08/31/2017

Portfolio Sub-Advisors

CIBC Asset Management

CIBC Asset Management is one of Canada's largest asset management firms and provides a broad range of high-quality global investment management solutions to retail and institutional clients.

Nicholas Leach, CIBC Asset Management Inc.
Nicholas joined CIBC Asset Management Inc. in September 2012. As a portfolio manager, Nicholas takes an active role managing key high yield mandates by contributing to the overall high yield portfolio strategy in terms of country, industry, company and rating allocations. Nicholas works closely with our team of credit analysts, and he is a member of our firm's High Yield Credit Committee.


Fixed Income Strategy
Term to Maturity (Years) Duration (Years) Average YTM (%)
As of July 31, 2017

Source: BNY Mellon Analytics

Term to Maturity (Years)
The time remaining on a bond's life, or the date on which the debt will cease to exist and the borrower will have completely paid off the amount borrowed.

Duration (Years)
Duration is defined as the weighted average time to full recovery of principal and interest.

Yield to Maturity (Average YTM)
The percentage rate of return paid on a bond, note or other fixed income security if the investor buys and holds it to its maturity date. The calculation for YTM is based on the coupon rate, length of time to maturity and market price. It assumes that coupon interest paid over the life of the bond will be reinvested at the same rate.

Performance and Volatility

3 mo 6 mo 1 yr 3 yrs 5 yrs 10 yrs YTD Since
0.2% 1.5% 5.7% 3.1% 5.3% 4.6% 4.0% 5.6%

As at: 08/31/2017

Calendar Year Performance
2016 2015 2014 2013 2012 2011 2010 2009 2008
15.1% (5.7%) 2.5% 7.4% 10.6% 1.5% 9.5% 32.0% (22.6%)

Historical Pricing and Distributions

Investment Performance

Value of $10,000 invested since inception

The rate of return or mathematical table shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the fund or returns on investment in the fund.

Please refer to the Annual/Interim Management Reports of Fund Performance for further details.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Renaissance Investments family of funds simplified prospectus before investing. The indicated rates of return are the historical annual compounded total returns for the class A units including changes in unit value and reinvestment of all distributions, but do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed. The values of many mutual funds change frequently. Past performance may not be repeated.