Institutional Investing
 

Institutional Funds

TD Emerald Long 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 long-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 Long Liability Driven Provincial Bond PFT's custom benchmark represents pension plan obligations associated with a plan consisting of a high proportion of active members.
Fund Facts
Asset ClassFixed Income
Management PhilosophyActive Fundamental
Inception DateApril 11, 2016
Benchmark100% Long Liability Driven Benchmark
Details
NAV($) / Yield (%)12.7958 (As of July 31, 2020)
Distribution DateDecember 31, 2019
Income Distribution0.3251
Capital Distribution0.0773
Total Distribution0.4025
AUM (in millions)335.87 (As of June 30, 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
Fund4.9514.7513.0913.9613.8610.137.34--8.80
Benchmark4.5714.6213.4614.1714.5210.367.46--8.97

*Performance as of June 30, 2020. 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
20192018201720162015
Fund17.37-2.0010.15--
Benchmark17.75-1.3810.09--
August 03, 2020