|LP Credit Strategies Fund||-0.1%||-0.04%||-0.07%||-0.07%||3.34%||6.97%||5.92%||5.87%|
|Canadian Corporate Bond Index*||0.45%||0.53%||0.58%||0.58%||0.75%||1.48%||2.26%||3.51%|
|Barclays Global Corporate Index||-0.38%||-0.92%||-1.52%||-1.52%||0.16%||2.53%||1.75%||1.65%|
*iShares FTSE TMX Corporate Bond Index ETF
All return figures for the Lawrence Park Credit Strategies Fund (the “Fund” or “LP Credit Strategies Fund”) are based on the A Series units and are net of management fees, performance fees, trailing commissions (if any) and Fund expenses. Other series may have higher fees and differing redemption terms. Any indicated rates of return are the historical and year-to-date compounded returns, including changes in security value and reinvestment of all distributions and does not take into account any redemption charges or applicable income taxes payable by any security holder that would have reduced returns. The Fund’s returns are not guaranteed, its value changes frequently, and past performance may not be repeated. No representations or warranties of any kind are intended or should be inferred with respect to the economic return or the tax consequences from an investment in the Fund. Potential qualified investors should read the Fund’s offering memorandum carefully prior to investing.
The historical performance data for the period from March 1, 2012 to date is based on the data for the Series A units.
This presentation has used the following benchmarks in comparison to historic returns on the Fund:
- The XCB is an index-based ETF that replicates the FTSE TMX Canada All Corporate Index, a benchmark index of Canadian Dollar corporate bonds published daily by PC Bond Analytics. The Fund has a high % of its assets in C$ corporate bonds, and thus the FTSE TMX Canada All Corporate is a relevant index for comparing risk and return in the Fund. The FTSE TMX Canada All Corporate Index has a high component of interest rate risk, whereas the Fund has a low component of interest rate risk.
- BCGI refers to the Barclays Global Corporate Index. Returns for this benchmark are calculated as excess daily returns, or the difference between total returns of the security and an implied Treasury portfolio matching the term-structure profile of that security. Returns are calculated in Canadian dollars, assuming currency exposures on non-Canadian holdings are fully hedged. In the opinion of the portfolio managers, this index represents a valid benchmark for the Credit Strategies Fund on the basis it is a) based on a global portfolio of publically traded corporate bonds, b) expressed in Canadian Dollars, and c) assumes currency and interest rate risk have been hedged from the portfolio.
Investors should note that the Fund utilizes long and short positions in both domestic and international fixed-income products, and may incorporate leverage and derivative overlays. Fund performance may deviate significantly from the benchmark indices mentioned above.