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Renaissance Investments™

Renaissance Floating Rate Income Fund [CLASS H] - HEDGED



Investment Objective

To generate a high level of current income, primarily through investment in senior floating rate loans and other floating rate debt instruments, as well as lower-rated debt securities of issuers located anywhere in the world.

Note
Hedged classes of the Fund attempt to mitigate their currency exposure to non-Canadian dollar currencies by implementing a currency hedging strategy that is aimed at protecting the classes from non-Canadian dollar currency fluctuations. Refer to the Fund Prospectus for more details.

Fund Specifications

Also available in Class F - Hedged

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

Distribution of Earnings:
The Fund aims to distribute a consistent amount every month ($0.041 per unit). If the amount distributed exceeds the Fund's net income and net realized capital gains, such excess will constitute a return of capital. The amount of distribution is not guaranteed and may change from time to time.

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, 2017: 1.83%

Front-End Load Option ATL2479
Back-End Load Option ATL2481
Low Load Option ATL2480
   
Inception Date: May 30, 2014
   
Assets Under Management (000’s)
As at:

Portfolio Sub-Advisors

Ares Management LLC

Ares Management is headquartered in Los Angeles with offices across the U.S., Europe and Asia, supported by approximately 700 employees across four operating divisions. The four divisions are the Private Equity Group, the Private Debt Group, the Commercial Real Estate Group and the Capital Markets Group. Ares Capital Markets Group ("Ares") invests in tradable securities, including broadly syndicated leveraged loans, high yield bonds and other fixed income investments. The Capital Markets Group's Portfolio Managers average more than 15 years of relevant experience investing in below-investment grade debt. A central tenet of Ares disciplined approach is to place a high priority on the preservation of principal (primarily through default avoidance) and minimizing downside risk.


John Leupp, Ares Management LLC

Mr. Leupp is a Portfolio Manager in the Tradable Credit Group at Ares. Additionally, he serves as a member on select Tradable Credit Group investment committees. Mr. Leupp joined Ares in 2003 from Credit Suisse First Boston (formerly DLJ), most recently as a Director in the Fixed Income Department responsible for the gaming, lodging and leisure industries. From 1989 to 1997, Mr. Leupp was involved in the fixed income market as a high yield research analyst covering various industries. Mr. Leupp graduated with a B.S. in Finance from Santa Clara University and received his M.A. in Economics from UCLA.



Style
Portfolio

Fixed Income Strategy
Term to Maturity (Years) Duration (Years) Average YTM (%)
As of

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

Performance
3 mo 6 mo 1 yr 3 yrs 5 yrs 10 yrs YTD Since
Inception

As at:


Calendar Year Performance
2016 2015 2014 2013 2012 2011 2010 2009 2008
6.1% 0.6% n/a n/a n/a n/a n/a n/a n/a

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.

Historical Pricing and Distributions

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.