Monthly Investment Review
RBC Regent Strategy Fund Canadian Dollar Bond 1-5 Year
As at January 31, 2016 - Data in Canadian Dollars
Objective
To provide shareholders with as high a level of total return as is
consistent with preservation of capital through investing in high
grade Canadian Dollar fixed income securities with a maximum
maturity not exceeding five years.
Benchmark
FTSE TMX Canadian Short Term Fed
Fund Particulars
Class F (CAD)
Fund
Size
Yield
NAV per
Share
Bloomberg
Code
ISIN
Code
29.8mm
1.08
101.07
RBCCNBF JY
GB00B07G6W49
Fund Size (CAD): 29.8mm
Investment Manager
RBC Global Asset Management Inc.
PERFORMANCE (Total Return)
Class F (CAD)
Benchmark (CAD)
1 Month
3 Months
YTD
1 Year
3 Years
5 Years
SI*
Launch Date
0.2%
0.3%
0.6%
0.7%
0.2%
0.3%
0.5%
0.9%
2.3%
2.2%
2.3%
2.4%
3.4%
3.4%
18-Apr-05
--
* Since Inception
Returns more than one year are annualized. Class F since inception performance is calculated from the first month-end following inception. Benchmark
since inception performance is calculated from the first month-end following Class F inception. Prior to Sep 01, 2007, the benchmark was the FTSETMX Cda 15 Euro Index. From Apr 18, 2005 to November 21, 2013 the product was managed by RBC Caribbean. Starting on November 22, 2013 the product is managed
by RBC Global Asset Management Inc. For full details of fees and conditions applying to each Class, please refer to the Fund prospectus.
FUND INFORMATION
Top Ten Holdings
Current
Canada Housing Trust 2.35% 15/12/2018
Province of Ontario 4.2% 08/03/2018
Province of British Columbia Canada 3.7% 18-12-2020
Province of Alberta 1.6% 15/06/2018
Toyota Credit Canada 2.48% 19/11/2019
Canadian Credit Card Trust II 1.83% 24-03-2020
BCIMC Realty Corp 2.79% 02/08/2018
Glacier Credit Card Trust 2.75% 20/11/2018
Omers Realty Corp 2.5% 05/06/2014
Canadian Imperial Bank of Commerce/Canada 2.22% 07-03-2018
Total
29.1%
9.8%
8.6%
6.8%
4.1%
4.0%
3.9%
3.8%
3.8%
3.8%
77.8%
Cash and Equivalents
Purchases
N/A
Sales
N/A
3.4%
No. of Holdings
15
Credit Quality
Maturity Distribution
18.1%
23.6%
76.4%
AAA/AA
> 10 years
A
5 to 10 years
BBB
3 to 5 years
<BBB
1 to 3 years
81.9%
Monthly Investment Review
RBC Regent Strategy Fund Canadian Dollar Bond 1-5 Year
As at January 31, 2016 - Data in Canadian Dollars
PERFORMANCE ANALYSIS
Top 5 Contributors
Beginning
Weight
Security
Return
Security
Contribution
30.1%
8.9%
10.2%
4.3%
7.1%
0.4
0.5
0.1
0.2
0.1
0.11
0.04
0.01
0.01
0.00
Beginning
Weight
Security
Return
Security
Contribution
3.9%
3.9%
3.9%
4.0%
3.9%
(0.1)
0.0
0.0
0.0
0.1
(0.01)
0.00
0.00
0.00
0.00
Canada Housing Trust 2.35% 15/12/2018
Province of British Columbia Canada 3.7% 18-12-2020
Province of Ontario 4.2% 08/03/2018
Toyota Credit Canada 2.48% 19/11/2019
Province of Alberta 1.6% 15/06/2018
Bottom 5 Contributors
Omers Realty Corp 2.5% 05/06/2014
Canadian Imperial Bank of Commerce/Canada 2.22% 07-03-2018
Toronto-Dominion Bank 2.17% 02/04/2014
BCIMC Realty Corp 2.79% 02/08/2018
Bank of Nova Scotia 2.37% 11/01/2018
Portfolio Characteristics
Convexity
Modified Duration
Yield to Maturity
Portfolio
Benchmark
11.01
2.60
1.08
9.89
2.66
0.61
Value Added Chart
3 Year Rolling Added Value
Monthly Added Value in Up Markets
Monthly Added Value in Down Markets
0.6%
0.4%
0.2%
0.0%
-0.2%
-0.4%
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
May-13
Value added calculation is based on performance of Class F Shares.
This report is incomplete without the Legal Disclaimer included on the last page
Sep-13
Jan-14
May-14
Sep-14
Jan-15
May-15
Sep-15
Jan-16
Monthly Investment Review
RBC Regent Strategy Fund Canadian Dollar Bond 1-5 Year
As at January 31, 2016 - Data in Canadian Dollars
Manager and Registrar
RBC Regent Fund Managers Limited, PO Box 194, 19-21 Broad
Street, St Helier, Jersey, Channel Islands, JE4 8RR
Administrator
RBC Offshore Fund Managers Limited, PO Box 246, Canada
Court, Upland Road, St Peter Port, Guernsey, Channel Islands,
GY1 3QE
Dealing
Dealing takes place on a daily basis (between 9am and 4 pm
(Jersey time) on days on which the banks in Jersey are open for
business) with the Shares being issued and redeemed at a
single dealing price equal to the mid market value of the assets
of the Share Class at 5pm (Jersey time) on the previous
business day (or such other time or day determined by the
Manager). The dealing price will be calculated and expressed to
at least four significant figures and rounded to the nearest
unit of currency. The resultant shares will be issued to three
decimal places.
DISCLAIMER
This review has been issued by RBC Regent Fund Managers Limited (“the Manager”) on behalf of RBC Regent Strategy Fund Limited (“the
Fund”).
The Jersey Financial Services Commission (the “Commission”) has granted to the Fund under the Collective Investment Funds (Jersey) Law
1988, as amended (the “Funds Law”) a fund certificate (“Certificate”) as a “Company Issuing Units”. The Commission is protected by the
Funds Law against liability arising from the discharge of its functions under the Funds Law. It must be distinctly understood that in giving
this consent the Commission does not take any responsibility for the financial soundness of the Fund or for the correctness of any statements
made or opinions expressed with regard to the Fund.
Investment in the Fund is through the purchase of shares (“Shares”). This review does not constitute an offer to transact business in the
Shares in any jurisdiction where such an offer would be considered unlawful. The Shares have not been and will not be registered under the
United States Securities Act of 1933, as amended (the “1933 Act”). Except in a transaction which does not violate the 1933 Act, they may not
be directly or indirectly offered or sold in the United States of America, or any of its territories, possessions or areas subject to its jurisdiction,
or to nationals or residents thereof (“US Persons”) including the estate of any such US Person or any corporation, partnership or other entity
created or organised under the laws of the United States or any political sub-division thereof. The Shares have also not been registered with
any authority in Canada and therefore may not be directly or indirectly offered or sold to any resident of any of its jurisdictions. In addition,
the Fund's shares are not being marketed to investors domiciled within the European Economic Area.
Investment in the Fund is only open to certain clients of RBC and is not available to the general public. Certain RBC Wealth Management
offices may not be able to promote the Fund and, depending upon their citizenship and residency, the Shares may not be available to certain
clients or types of clients (for example, applications for Shares made by US Persons or Canadian residents will not be accepted).
Before deciding to invest in the Fund, potential investors should read the latest Prospectus document and note the important regulatory
disclosures and risk warnings, restrictions and acknowledgements contained therein. Readers should also note that, in some or all respects,
the regulatory regime applying in Jersey (including any investor protection or compensation schemes) may well be different from that of their
home jurisdiction. The past performance of any Fund class is not necessarily a guide to any future performance of that class. The price and
value of investments can fall as well as rise and investors may not receive, on redemption of their Shares, the original amount invested.
Changes in rates of exchange between currencies may have an independent effect, which may be favourable or unfavourable, on the value of
investments and income derived from them.
Source: FTSE TMX Global Debt Capital Markets Inc., dba PC-Bond. Copyright © FTSE TMX Global Debt Capital Markets Inc. All rights
reserved. The information contained herein may not be redistributed, sold or modified or used to create any derivative work without the
prior written consent of PC-Bond.
RBC Regent Fund Managers Limited, 19/21 Broad Street, St. Helier, Jersey, Channel Islands, JE4 8RR.
® Registered trademark of Royal Bank of Canada.™ Trademark of Royal Bank of Canada. Used under licence.