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Renaissance Investments™

Renaissance Floating Rate Income Fund (US$) [Class A]



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.

Additional Fund Information

Fund Profile

Fund Facts

Fund Specifications

Also available in Class F

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

Distribution of Earnings:
The fund aims to distribute an amount every month equal to $CAD 0.044 per unit. Where the distribution is payable in U.S. dollars, the distribution amount is converted into U.S. dollars using the prevailing currency exchange rate on the day that the distribution is paid. If the amount distributed exceeds the fund’s net income and net realized capital gains, such excess would 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, 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, 2018: 1.80%

Front-End Load Option ATL2506
Back-End Load Option ATL2508
Low Load Option ATL2507
   
Inception Date: September 16, 2013
   
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.


Jason Duko, Ares Management LLC

Portfolio Manager, Ares Management LLC
Mr. Duko is a Partner and Portfolio Manager of U.S. Liquid Credit in the Ares Credit Group, where he is primarily responsible for managing Ares’ U.S. bank loan credit strategies. Mr. Duko also serves as a Vice President of Ares Dynamic Credit Allocation Fund, Inc. Additionally, he serves as a member of the Ares Credit Group’s U.S. Liquid Credit Investment Committee. Prior to joining Ares in 2018, Mr. Duko was a Portfolio Manager at PIMCO, where he managed bank loan assets across a broad range of investment strategies and was responsible for secondary loan trading across all sectors. Previously, Mr. Duko was an Associate Portfolio Manager at Lord Abbett & Co. LLC., where he focused on its leveraged loan business, portfolio management, trading decisions and marketing. He also held positions at Nomura Corporate Research and Asset Management and ING Pilgrim Research. Mr. Duko holds a B.S. from Arizona State University in Finance, where he was a Barrett Honors College Graduate.


Samantha Milner, Ares Management LLC

Ms. Milner is a Partner, Portfolio Manager and Head of U.S. Liquid Credit Research in the Ares Credit Group, where she is primarily responsible for managing Ares’ U.S. bank loan credit strategies. Additionally, she serves as a member of the Ares Credit Group’s U.S. Liquid Credit Investment Committee, and the Ares Dynamic Credit Allocation Fund Investment Committee. Prior to joining Ares in 2004, Ms. Milner was an Associate in the Financial Restructuring Group at Houlihan Lokey Howard & Zukin, where she focused on providing advisory services in connection with restructurings, distressed mergers and acquisitions and private placements. Ms. Milner holds a B.B.A., with distinction, from Emory University’s Goizueta Business School in Finance and Accounting.


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
2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
-1.42% 2.86% 6.6% (1.1%) 0.1% 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.