The Fund invests in an actively managed, diversified portfolio consisting primarily of short-duration floating rate senior corporate instruments, including senior loans and other senior debt obligations of North American non-investment grade corporate borrowers.
Nuveen Asset Management, LLC (“NAM”), is the is the sub-advisor for the Symphony Floating Rate Senior Loan Fund. NAM specializes in the management of debt and equity strategies including senior loan portfolios. NAM, a registered investment adviser, has been in business for over thirty years and had an aggregate of U.S. $252 billion of assets under management as of September 30, 2022. NAM is an indirect subsidiary of Nuveen, LLC which is a subsidiary of Teachers Insurance and Annuity Association of America.
Summary of Investment Portfolio as at March 31, 2023
|% of Portfolio||% of Net Asset Value|
|QuarterNorth Energy Holding Inc.||5.3%|
|Cash and short-term investments||2.0%|
|Medline Borrower, LP 8.090% due October 21, 2028||1.8%|
|Epicor Software Corporation 8.090% due July 31, 2027||1.6%|
|Surgery Center Holdings Inc. 8.460% due August 31, 2026||1.6%|
|Energy Harbor Corp.||1.5%|
|Zelis Payments Buyer, Inc. 8.340% due September 30, 2026||1.4%|
|Clear Channel Outdoor Holdings, Inc. 8.325% due August 21, 2026||1.3%|
|Bausch + Lomb 8.457% due May 05, 2027||1.3%|
|QuarterNorth Energy Holding Inc. 12.840% due August 27, 2026||1.3%|
|TransDigm Inc. 8.150% due August 24, 2028||1.3%|
|Mileage Plus Holdings, LLC 10.213% due June 20, 2027||1.2%|
|WestJet Airlines Ltd. 7.859% due December 11, 2026||1.1%|
|HD Supply Waterworks, Ltd. 7.400% due June 10, 2028||1.1%|
|Open Text Corp. 8.157% due November 16, 2029||1.1%|
|Norton Life Lock 6.907% due January 28, 2029||1.1%|
|Parexel International, Inc. 8.090% due November 15, 2028||1.1%|
|DIRECTV Financing, LLC 9.840% due August 02, 2027||1.0%|
|Cengage Learning, Inc. 9.880% due July 14, 2026||1.0%|
|Equinox Holdings Inc. 8.159% due March 08, 2024||1.0%|
|Cyxtera DC Holdings, Inc. 7.820% due May 01, 2024||0.9%|
|SkyMiles IP Ltd. 8.558% due October 20, 2027||0.9%|
|Jazz Financing Lux S.a.r.l. 8.340% due May 05, 2028||0.9%|
|Avolon TLB Borrower 1 LLC 6.261% due February 12, 2027||0.8%|
|Informatica LLC 7.625% due October 14, 2028||0.8%|
|YTD||1-Year||3-Year||5-Year||10-Year||S.I.- A & U(2)|
|Symphony Floating Rate Senior Loan Fund - Class A||2.1%||(1.7%)||7.1%||1.3%||2.9%||4.2%|
|Symphony Floating Rate Senior Loan Fund - Class U||2.0%||(1.7%)||7.0%||1.7%||2.8%||4.1%|
|Symphony Floating Rate Senior Loan Fund - Class A||(7.1%)||13.9%||(4.4%)||8.3%||(0.8%)||3.4%||17.2%||(6.2%)||1.0%||9.9%||14.9%|
|Symphony Floating Rate Senior Loan Fund - Class U||(7.2%)||13.5%||(3.2%)||8.8%||(0.6%)||3.6%||15.6%||(5.6%)||0.3%||9.2%||14.5%|
Returns for Symphony Floating Rate Senior Loan Fund are unaudited.
You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the units are purchased or sold on an exchange, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the public filings available at www.sedar.com. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and does not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
The actual breakdown of distributions for tax purposes will be provided to unitholders annually in March as soon as possible following receipt of the information from the Fund’s individual holdings. This information will also be posted on the website as soon as it is available.
This information is of a general nature only and does not constitute legal or tax advice to any particular investor. Accordingly, prospective investors are advised to consult their own tax advisors with respect to their individual circumstances.
The following information is applicable to holders who, for the purposes of the Income Tax Act (Canada), are resident in Canada and hold trust units as capital property. If this is not the case, a tax advisor should be consulted.
Holders of trust units outside of a RRSP, DPSP, RRIF, RESP or TFSA should expect to receive a T3 slip from their investment dealer. T3 supplementary slips will indicate Other Income (Investment Income and Non-Investment Income) in Box 26, Foreign Non-Business Income in Box 25, Capital Gains in Box 21 and Eligible Dividend Income in Box 49. Dividend income is subject to the standard gross up and federal dividend tax credit rules. The return of capital component is a non-taxable amount that serves to reduce the adjusted cost base of the Fund units and is reported in Box 42.
|Record Date||Payment Date||Capital Gains||Eligible Dividend||Foreign Non- Business Income||Foreign Non- Business Income Tax Paid||Other Income||Return of Capital||Total Distribution|
|Jun 30, 2023||Jul 17, 2023||0.00000||0.00000||0.00000||0.00000||0.00000||0.00000||0.05000|
|May 31, 2023||Jun 14, 2023||0.00000||0.00000||0.00000||0.00000||0.00000||0.00000||0.05000|
|Apr 28, 2023||May 12, 2023||0.00000||0.00000||0.00000||0.00000||0.00000||0.00000||0.05000|
|Mar 31, 2023||Apr 17, 2023||0.00000||0.00000||0.00000||0.00000||0.00000||0.00000||0.05000|
|Feb 28, 2023||Mar 14, 2023||0.00000||0.00000||0.00000||0.00000||0.00000||0.00000||0.05000|
|Jan 31, 2023||Feb 14, 2023||0.00000||0.00000||0.00000||0.00000||0.00000||0.00000||0.05000|
|Dec 30, 2022||Jan 16, 2023||0.00000||0.00000||0.03792||(0.00029)||0.00000||0.01237||0.05000|
|Nov 30, 2022||Dec 14, 2022||0.00000||0.00000||0.03792||(0.00029)||0.00000||0.01237||0.05000|
|Oct 31, 2022||Nov 14, 2022||0.00000||0.00000||0.03792||(0.00029)||0.00000||0.01237||0.05000|
|Sep 30, 2022||Oct 17, 2022||0.00000||0.00000||0.03792||(0.00029)||0.00000||0.01237||0.05000|
|Aug 31, 2022||Sep 15, 2022||0.00000||0.00000||0.03792||(0.00029)||0.00000||0.01237||0.05000|
|Jul 29, 2022||Aug 15, 2022||0.00000||0.00000||0.03792||(0.00029)||0.00000||0.01237||0.05000|