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.
Minimum Initial Investment:
Lump Sum
Initial: $500
Subsequent: $100
| Inception Date | Jun 3, 2014 |
|---|---|
| Fund Code | ATL2483 |
| Assets Under Management ($000) As at : 08/31/2024 | $1,557,801 |
Ares Capital Management, an affiliate of Ares Management Corporation (“Ares”), serves as an investment advisor to ASIF. Ares is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. As of September 30, 2023, Ares’ global platform had approximately $395 billion of assets under management, with approximately 2,800 employees4 operating across North America, Europe, Asia Pacific and the Middle East.
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.
Russell Almeida, Ares Management LLC
Mr. Almeida is a Managing Director and U.S. Liquid Credit Portfolio Manager in the Ares Credit Group, where he is primarily responsible for managing Ares' U.S. bank loan credit strategies. Prior to joining Ares in 2008, Mr. Almeida was an Associate in the Securitization Banking Group at Lehman Brothers, where he focused on providing advisory services to financial institutions. Mr. Almeida holds a B.S., magna cum laude, from the University of California, Riverside, in Business Administration.
Style
| Term to Maturity (Years) †† | Duration (Years) †† | Average YTM (%) †† |
| 4.39 | 0.65 | 8.82 |
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.
| 3 mo | 6 mo | YTD | 1 yr | 3 yrs | 5 yrs | 10 yrs | Since Inception |
|---|---|---|---|---|---|---|---|
| 1.8% | 4.3% | 6.9% | 10.7% | 5.3% | 4.9% | 4.0% | 4.0% |
As at: 08/31/2024
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|
| 11.8% | (2.9%) | 4.6% | 2.00% | 9.1% | (1.3%) | 3.0% | 6.1% | 0.6% | N/A |
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 F 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 fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer, nor are they guaranteed. There can be no assurance that a money market fund will be able to maintain its net asset value per unit at a constant amount or that the full amount of your investment will be returned to you. The values of many mutual funds change frequently. Past performance may not be repeated.
Renaissance Floating Rate Income Fund - Hedged (Class F) was awarded the 2021 Lipper Fund Award in the Floating Rate Loan category for the 3 year period out of a total of 10 funds ending July 31, 2021. Performance for the fund for the period ended October 31, 2021 is: 7.3% (1 year), 4.0% (3 years), 3.5% (5 years), and 3.5% (since inception on June 3, 2014). The corresponding Lipper Leader ratings of the fund for the period ended October 29, 2021 are as follows: N/A (1 year), 5 (3 years) [124 funds], 4 (5 years) [100 funds], N/A (10 years). The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The highest 20% of funds in each category are named Lipper Leaders for Consistent Return and receive a score of 5, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2 and the lowest 20% are scored 1. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification per award universe wins the Refinitiv Lipper Fund Award. Lipper Leader Ratings change monthly. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.
This material is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments.
Please read the simplified prospectus before investing. To obtain a copy of the simplified prospectus, call 1-888-888-FUND (3863). Alternatively, you may obtain a copy from your advisor. The indicated rates of return are the historical annual compounded total returns 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.
Any information or discussion about the current characteristics of this mutual fund or how the portfolio manager is managing the mutual fund that is supplementary to information in the prospectus is not a discussion about material investment objectives or strategies, but solely a discussion of the current characteristics or manner of fulfilling the investment objectives and strategies, and is subject to change without notice.
Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer, nor are they guaranteed. Past performance may not be repeated. The material and/or its contents may not be reproduced without the express written consent of CIBC Asset Management Inc.
