Institutional Investing
 

Institutional Funds

TD Emerald Short Liability Driven Provincial Bond Pooled Fund Trust

Investment Strategy
The Fund seeks to mitigate interest rate risks for pension plans by investing primarily in a diversified portfolio of Canadian provincial issued and guaranteed bonds and debentures, and ensuring that the portfolio characteristics are consistent with those of the custom short-term liability benchmark. The Fund utilizes a key duration matching approach, which focuses on minimizing the key sources of risk in a cost-effective manner while ensuring rebalancing flexibility and taking into account the nature of the hedging instruments. The Liability Driven Funds are available in three different durations (Short, Mid, Long) and are designed to be combined with one another and/or with a portfolio of corporate bonds to create a unique, closely matched liability hedging portfolio.
Investment Objective

The Funds seek to mitigate interest rate risks for pension plans by investing in Canadian provincial bonds. Each Fund's performance objective is to provide performance similar to a benchmark derived from the liability cash flows of typical Canadian pension plans. The benchmark differs for each Fund, with associated demographics ranging from plans with a high proportion of retirees to those with a high proportion of active members.

Who Should Invest
The Fund is designed for institutional investors who wish to create a tailored liability hedging strategy in order to hedge the fundamental risk characteristics of their liabilities and those looking to focus on liability funding, the removal of unintended risk, and the improvement of capital efficiency. The TD Emerald Short Liability Driven Provincial Bond PFT's custom benchmark represents pension plan obligations associated with a plan consisting of a high proportion of retirees.
Fund Facts
Asset ClassShort Fixed Income
Management PhilosophyActive
Inception DateApril 11, 2016
BenchmarkShort Liability Driven Custom Benchmark
Details
NAV($) / Yield (%)10.4643 (As of January 20, 2021)
Distribution DateDecember 31, 2020
Income Distribution0.2388
Capital Distribution0.0000
Total Distribution0.2388
AUM (in millions)322.45 (As of December 31, 2020)
Distribution FrequencyAnnual

*Rates of return are time-weighted, reflecting income during the period but do not include any deduction for management fees.

Performance
1 M3 MYTD1 Y2 Y3 Y4 Y5 Y10 YSince Inception
Fund0.380.428.698.697.405.374.64--3.95
Benchmark0.380.438.868.867.465.414.61--3.90

*Performance as of December 31, 2020. Year To Date - performance based on most recent month-end data.

*Benchmark is Short Liability Driven Custom Benchmark

Note: Fund performance is before fees but after expenses

Yearly Performance
20192018201720162015
Fund6.141.412.48--
Benchmark6.091.432.23--
January 21, 2021