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Renaissance Millennium High Income Fund [Class A]



Investment Objective

To achieve the highest possible return that is consistent with a conservative fundamental investment philosophy through investment primarily in a balanced and diversified portfolio of Canadian income securities.

Fund Specifications

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

Distribution of Earnings:
The Fund aims to distribute a consistent amount every month ($0.060 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): 2.00%

Annualized Management Expense Ratio (including applicable taxes) as at August 31, 2013: 2.49%

Front-End Load Option ATL1879
Back-End Load Option ATL1880
Low Load Option ATL2880
   
Inception Date: February 13, 1997
   
Assets Under Management (000’s)
As at: 08/31/2014
$636,272

Portfolio Sub-Advisors

Aston Hill Institutional Partners

Aston Hill Institutional Partners, a division of Aston Hill Asset Management Inc., offers a full suite of investment management solutions for institutional clients, including pension funds, endowments, foundations and corporations. Aston Hill Institutional Partners was originally founded in 1992 under the name Morrison Williams Investment Management. In July 2011, 100% of Morrison Williams was acquired by Aston Hill Financial with the goal to expand and strengthen their investment expertise, research, operations and client service capabilities. Under Aston Hill Institutional Partners, institutional clients have access to pooled fund strategies and segregated account management.

Barry Morrison, CFA
Portfolio Manager, Renaissance Millennium High Income Fund
Aston Hill Institutional Partners

Barry Morrison established Morrison Williams (now Aston Hill Institutional Partners) in 1992. His primary responsibilities include management of fixed income and real estate funds as well as marketing and business development. Prior to establishing Morrison Williams, Barry held senior positions with BGH Investment Management, Mortgage Insurance Co of Canada, United Funds and Dominion Life Assurance Co. Barry holds a BA in Economics and is a Fellow of Life Management Institute as well as a CFA.

Sandy Liang, CFA
Co-Portfolio Manager, Renaissance Millennium High Income Fund
President, AHF Capital Partners
Portfolio Manager, Aston Hill Financial Inc.

Sandy Liang, CFA is a corporate debt Portfolio Manager at Aston Hill Asset Management Inc. Mr. Liang joined Aston Hill in October 2011, bringing with him more than twenty years of experience in credit and equity investments. Mr. Liang joined Aston Hill after three years spent at Cobalt Capital Management, a significant hedge fund in New York, where he was responsible for the firm's fixed income investments. Mr. Liang holds the Chartered Financial Analyst designation, and graduated from the University of Western Ontario with a B.A. in Economics and McGill University with an M.B.A.

Style
Performance and Volatility

Performance
3 mo 6 mo 1 yr 3 yrs 5 yrs 10 yrs YTD Since
Inception
4.9% 10.9% 23.8% 13.0% 13.9% 8.0% 14.0% 9.0%

As at: 08/31/2014


Calendar Year Performance
2013 2012 2011 2010 2009 2008 2007 2006
11.1% 9.3% 7.6% 16.6% 21.9% (31.5%) 5.3% 2.9%

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.

The Fund aims to distribute a consistent amount every month. 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.

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.