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Institutional Funds
TD Emerald Long Liability Driven Provincial Bond Pooled Fund Trust
Investment Strategy
Each Fund utilizes a key rate duration matching approach. This approach 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 available hedging instruments. Our approach aims to further reduce risk by matching the overall asset and liability durations and convexities and by ensuring the portfolio returns track the liability benchmark.
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 TD Emerald Liability Driven Provincial Bond Pooled Fund Trusts are designed for institutional investors who wish to create a tailored liability hedging strategy.
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Fund Facts
| Asset Class | Fixed Income |
| Management Philosophy | Active Fundamental |
| Inception Date | April 11, 2016 |
| Benchmark | 100% Long Liability Driven Benchmark |
Details
| NAV($) / Yield (%) | 11.4419 (As of January 23, 2020) |
| Distribution Date | December 31, 2019 |
| Income Distribution | 0.3251 |
| Capital Distribution | 0.0773 |
| Total Distribution | 0.4025 |
| AUM (in millions) | 310.41 (As of December 31, 2019) |
| Distribution Frequency | Annual |
*Rates of return are time-weighted, reflecting income during the period but do not include any deduction for management fees.
Performance
| 1 M | 3 M | YTD | 1 Y | 2 Y | 3 Y | 4 Y | 5 Y | 10 Y | Since Inception | |
| Fund | -3.49 | -2.37 | 17.37 | 17.37 | 7.25 | 8.21 | - | - | - | 6.45 |
| Benchmark | -3.48 | -2.50 | 17.75 | 17.75 | 7.76 | 8.53 | - | - | - | 6.55 |
*Performance as of December 31, 2019. Year To Date - performance based on most recent month-end data.
*Benchmark is 100% Long Liability Driven Benchmark
Note: Fund performance is before fees but after expenses
Yearly Performance
| 2018 | 2017 | 2016 | 2015 | 2014 | |
| Fund | -2.00 | 10.15 | - | - | - |
| Benchmark | -1.38 | 10.09 | - | - | - |