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.
Symphony Asset Management LLC manages approximately US$14.6 billion in senior loans and has approximately US$17.3 billion in total assets under management, as at December 31, 2019. Symphony is a wholly-owned subsidiary of Nuveen Investments Inc.
Summary of Investment Portfolio as at December 31, 2020
| % of Portfolio | % of Net Asset Value | |
|---|---|---|
| Cash and short-term investments | 4.8% | 6.8% |
| Caesars Resort Collection First Lien Term Loan | 1.6% | 2.3% |
| Intelsat Jackson Holdings S.A. Term Loan B3 | 1.6% | 2.3% |
| Mc-Graw-Hill Education Holdings Inc. Term Loan B | 1.5% | 2.1% |
| Rackspace Hosting, Inc. Term Loan B | 1.5% | 2.1% |
| Clear Channel Outdoor Holdings, Inc. Term Loan B | 1.4% | 2.1% |
| Life Time Fitness Inc. Term Loan B | 1.4% | 2.0% |
| TNT Crance & Rigging Inc. Priority Term Loan | 1.4% | 1.9% |
| Refinitiv Term Loan B | 1.3% | 1.8% |
| Cengage Learning Acquisitions, Inc. (Thomson Learning) Term Loan B | 1.2% | 1.6% |
| Syniverse Holdings, Inc. Tranche Term Loan C | 1.1% | 1.6% |
| Uber Technologies, Inc. Term Loan | 1.1% | 1.6% |
| Cequel Communications, LLC (Cebridge) Term Loan B3 | 1.1% | 1.6% |
| Concordia Healthcare Corp. Exit Term Loan | 1.1% | 1.6% |
| Calpine Corporation Term Loan B-5 | 1.1% | 1.5% |
| Greenden U.S. Holdings II, LLC (Genesys Telecom Holdings U.S., Inc.) Term L | 1.0% | 1.4% |
| Lions Gate Entertainment Corp. Term Loan B | 1.0% | 1.4% |
| Meredith Corporation Tranche Term Loan B-2 | 1.0% | 1.4% |
| Formula One Group (Alpha Topco), Term Loan B | 1.0% | 1.4% |
| Navistar Inc., Tranche B Term Loan | 1.0% | 1.4% |
| Gentiva Health Services, Inc. Term Loan B (First Lien) | 0.9% | 1.2% |
| Micro Focus International Plc Term Loan B | 0.9% | 1.2% |
| Intelsat Jackson Holdings S.A. DIP Term Loan | 0.9% | 1.2% |
| Springer Science and Business Media Inc. Term Loan B16 | 0.9% | 1.2% |
| Syniverse Holdings, Inc. Tranche Term Loan C | 0.9% | 1.2% |
| Total | 32.7% | 45.9% |
| YTD | 1-Year | 3-Year | 5-Year | S.I.- A & U(2) | S.I. - C & F(3) | |
|---|---|---|---|---|---|---|
| Symphony Floating Rate Senior Loan Fund - Class A | 2.3% | (2.3%) | 1.2% | 5.4% | 4.7% | n.a |
| Symphony Floating Rate Senior Loan Fund - Class C | 2.3% | (1.3%) | 1.2% | n.a | n.a | 2.0% |
| Symphony Floating Rate Senior Loan Fund - Class F | 2.3% | (2.2%) | 1.3% | n.a | n.a | 2.1% |
| Symphony Floating Rate Senior Loan Fund - Class U | 2.3% | (1.1%) | 1.8% | 5.6% | 4.7% | n.a |
| 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Symphony Floating Rate Senior Loan Fund - Class A | (4.4%) | 8.3% | (0.8%) | 3.4% | 17.2% | (6.2%) | 1.0% | 9.9% | 14.9% | 0.7%(4) |
| Symphony Floating Rate Senior Loan Fund - Class C | (3.5%) | 8.1% | (1.2%) | 2.9%(5) | n.a | n.a | n.a | n.a | n.a | n.a |
| Symphony Floating Rate Senior Loan Fund - Class F | (4.3%) | 8.1% | (0.2%) | 3.0% (5) | n.a | n.a | n.a | n.a | n.a | n.a |
| Symphony Floating Rate Senior Loan Fund - Class U | (3.2%) | 8.8% | (0.6%) | 3.6% | 15.6% | (5.6%) | 0.3% | 9.2% | 14.5% | 0.3% (4) |
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.
Class F Unit
| 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 |
|---|---|---|---|---|---|---|---|---|
| Mar 31, 2021 | Apr 15, 2021 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04500 |
| Feb 26, 2021 | Mar 12, 2021 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04500 |
| Jan 29, 2021 | Feb 12, 2021 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.00000 | 0.04500 |
| Dec 31, 2020 | Jan 15, 2021 | 0.00000 | 0.00000 | 0.02678 | (0.00006) | 0.00000 | 0.01828 | 0.04500 |
| Nov 30, 2020 | Dec 14, 2020 | 0.00000 | 0.00000 | 0.02678 | (0.00006) | 0.00000 | 0.01828 | 0.04500 |
| Oct 30, 2020 | Nov 13, 2020 | 0.00000 | 0.00000 | 0.02678 | (0.00006) | 0.00000 | 0.01828 | 0.04500 |
| Sep 30, 2020 | Oct 15, 2020 | 0.00000 | 0.00000 | 0.02678 | (0.00006) | 0.00000 | 0.01828 | 0.04500 |
| Aug 31, 2020 | Sep 15, 2020 | 0.00000 | 0.00000 | 0.02678 | (0.00006) | 0.00000 | 0.01828 | 0.04500 |
| Jul 31, 2020 | Aug 17, 2020 | 0.00000 | 0.00000 | 0.02678 | (0.00006) | 0.00000 | 0.01828 | 0.04500 |
| Jun 30, 2020 | Jul 15, 2020 | 0.00000 | 0.00000 | 0.03347 | (0.00007) | 0.00000 | 0.02285 | 0.05625 |
| May 29, 2020 | Jun 12, 2020 | 0.00000 | 0.00000 | 0.03347 | (0.00007) | 0.00000 | 0.02285 | 0.05625 |
| Apr 30, 2020 | May 14, 2020 | 0.00000 | 0.00000 | 0.03347 | (0.00007) | 0.00000 | 0.02285 | 0.05625 |
| Total | 0.00000 | 0.00000 | 0.26109 | (0.00057) | 0.00000 | 0.17823 | 0.57375 | |
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