Renaissance High-Yield Bond Fund [Class A]

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.

Also available in Class F

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

Distributions: This Fund expects to distribute net income monthly. Distributions of net realized capital gains occur annually in December.
Pre-Authorized Chequing Investment: $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): 1.20%
Annualized Management Expense Ratio (including applicable taxes) as at Aug 31, 2023: 1.39%
Front-End Load OptionATL908
Back-End Load Option-
Low Load Option-
Closed to all purchases
Front-End Load Option-
Back-End Load Option**ATL823
Low Load Option**ATL667
Inception DateSep 23, 1994
Fund CodeATL823
Assets Under Management ($000)
As at : 02/29/2024
$987,903

CIBC Asset Management (CIBC AM) 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.

Jeremy Kinney

Portfolio Manager

Jeremy Kinney is a member of the Global Fixed Income team and lead portfolio manager of our High-Yield strategy overseeing all facets of the research, portfolio construction, and risk management processes. His team also provides research coverage and trade recommendations for our Core Plus strategy. Mr. Kinney started his career at CIBC in 2001 and held the position of High Yield Credit Analyst, Assistant Vice President at CIBC Asset Management from 2011-2015. He holds an MS from the City University of New York and a BA from Dalhousie University. He is also a CFA charterholder and a member of the CFA Society of Toronto.

Style

The investment style box is a graphical depiction of the investing categories an investment manager will invest within.
Fixed Income Strategy †† Net Rates

Term to Maturity (Years) ††Duration (Years) ††Average YTM (%) ††
4.05 3 6.82
As of Feb 29, 2024 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
3 mo6 moYTD1 yr3 yrs5 yrs10 yrsSince Inception
2.9%4.9%0.2%8.1%(0.3%)1.4%2.1%4.6%
3 mo
6 mo
YTD
1 yr
3 yrs
5 yrs
10 yrs
Since Inception
2.9%
4.9%
0.2%
8.1%
(0.3%)
1.4%
2.1%
4.6%

As at: 02/29/2024

Calendar Year Performance
2023202220212020201920182017201620152014
9.9%(12%)2.6%0.80%13.60%(4.2%)4.2%15.1%(5.7%)2.5%
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
9.9%
(12%)
2.6%
0.80%
13.60%
(4.2%)
4.2%
15.1%
(5.7%)
2.5%
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.

**Effective May 13, 2022, all deferred sales charge (referred to as DSC) purchase options (i.e. back-end load and low-load options) are closed to new purchases, including purchases through pre-authorized chequing plans. Switches to units of another Fund managed by CIBC Asset Management Inc. under the same DSC purchase option will continue to be available.

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.