High level of capital preservation as Senior Loans have first priority of repayment and are secured by the issuer’s assets
Low interest rate risk as the floating rate coupons on Senior Loans protect investors from capital loss when interest rates rise
Experienced, best in class Sub-Advisor Symphony Asset Management has top-ranked performance and US$16bn Senior Loan AUM
Provide monthly distributions, and
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.
This Fund is for Investors who are:
Seeking a high level of income
Seeking capital preservation
Comfortable with an investment that employs leverage
Class A Unit Ouststanding
(Jul 18, 2019) 10,204,546
Class U Unit CUSIP
Class C Unit CUSIP
Class F Unit CUSIP
Inception Date November 1, 2011
Currency Hedged to CAD (Class A, C, F)
Manager/Portfolio Manager Brompton Funds Limited
Auditor PricewaterhouseCoopers LLP
Custodian CIBC Mellon Trust Company
Eligibility All registered and non-registered accounts
Annual Redemption Date 2nd last business day of March
Annual Redemption Notice Deadline Last business day of January
Leverage Up to 40% of total assets
Sub Advisor Symphony Asset Management LLC
Symphony Asset Management LLC manages approximately US$16.3 billion in senior loans and has approximately US$19.6 billion in total assets under management, as at June 30, 2018. Senior Loan closed end funds sub-advised by Symphony have achieved top Lipper performance rankings in the Loan Participation Fund category over 10 years (as at June 30, 2018)(1). Symphony is a wholly-owned subsidiary of Nuveen Investments Inc.
(1) Lipper; June 30, 2018. Rankings should not be construed as a statement of client experience or endorsement. Ranking is based on annual total returns across the 15 funds in the Loans Participation Fund category which had at least 10 years of operating history as at the date of the ranking.
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Symphony Floating Rate Senior Loan Fund
Summary of Investment Portfolio as at March 31, 2019
Total Net Asset Value$95,931,290.00
Top 10 Holdings
% of Portfolio
% of Net Asset Value
Cash and short-term investments
Tibco Software, Inc. (Balboa Merger Sub) Term Loan B-1
Fieldwood Energy LLC Exit Term Loan
Cengage Learning Acquisitions, Inc. (Thomson Learning) Exit Term Loan
Sequa Corporation Initial Term Loan
Uber Technologies, Inc. Term Loan
Caesars Resort Collection First Lien Term Loan
Syniverse Holdings, Inc. Tranche C Term Loan
Scientific Games Corp Term B-5 Loan
Intelsat (Luxembourg) S.A. 8.125% June 1, 2023
1)The investment portfolio may change due to ongoing portfolio transactions of the investment fund. Quarterly updates are available on the Fund's website at www.bromptongroup.com within 60 days of each quarter end.
The tables show the past performance of the Fund. Past performance does not necessarily indicate how the Fund will perform in the future. The information shown is based on Net Asset Value per Class A or Class U unit and assumes that distributions made by the Fund on its units in the periods shown were reinvested (at Net Asset Value per Class A or Class U unit) in additional units of the Fund.
The tables show the Fund’s year-by-year and compound returns for each period indicated compared with the Credit Suisse Leveraged Loan Index. The Credit Suisse Leveraged Loan Index (“Loan Index”) is an appropriate benchmark as it is designed to mirror the investable universe of the US dollar denominated leveraged loan market in which the Fund also invests. The Loan Index is unleveraged and its returns are calculated without the deduction of fees and Fund expenses, whereas the performance of the Fund includes the impact of leverage and is calculated after deducting fees and Fund expenses. Since the Fund is actively managed, the sector weightings may differ from those of the Loan Index.
(1) Returns are for the periods ended June 30, 2019.
(2) Period from September 24, 2015 (commencement of operations) to June 30, 2019.
(3) Period from November 1, 2011 (inception) to December 31, 2011.
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.
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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.
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Class F Unit
Return of Capital
Foreign Non- Business Income
Foreign Non- Business Income Tax Paid
Jun 28, 2019
Jul 15, 2019
May 31, 2019
Jun 14, 2019
Apr 30, 2019
May 14, 2019
Mar 29, 2019
Apr 12, 2019
Feb 28, 2019
Mar 14, 2019
Jan 31, 2019
Feb 14, 2019
Dec 31, 2018
Jan 15, 2019
Nov 30, 2018
Dec 14, 2018
Oct 31, 2018
Nov 14, 2018
Sep 28, 2018
Oct 15, 2018
Aug 31, 2018
Sep 17, 2018
Jul 31, 2018
Aug 15, 2018
(1) The distribution was automatically reinvested in additional units. Immediately following the issuance, the units of the Fund were automatically consolidated and, as a result, unitholders held the same number of units after the distribution as they held before it. The adjusted cost base of a holder’s units would be increased by the amount of the distributions reinvested in units.
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