Capital Group Funds (Canada)
Canadian Core Plus Fixed Income
Series F
Portfolio data as of February 29, 2024 (updated monthly)
Investment Objective
Steady income, capital preservation and long-term total return consistent with prudent management by investing mainly in a broad range of Canadian and global fixed-income securities.
Fund Description
A focus on capital preservation
Invests in Canadian, global and high-yield bonds, including emerging markets.
Returns
Growth of $10,000 since inception (Series F)
Returns include reinvestment of all distributions and do not reflect the effect of a sales charge. Past returns are not predictive of future returns.
Returns (%) Series F
1 month -0.39
YTD -1.87
1 year* 3.21
3 years* -2.71
5 years* 0.19
10 years* 1.25
Lifetime* 2.46
Lifetime (cumulative) 46.99
2023 6.07
2022 -12.21
2021 -2.63
2020 7.94
2019 6.76
*Annualized compound returns.
Portfolio information
Fund assets ($mil) combined series $118.5
Companies / issuers   197
Income distributions paid   Monthly
Capital gains paid   December
Portfolio turnover (2022)   47%
Trading expense ratio1   0.04%
Effective duration (years)2   7.1
Yield to maturity   4.32%
Yield to worst 2   4.30%
Asset breakdown4
Developed markets (investment grade)
Government 54.4%
Corporate 31.3%
Inflation-linked 0.5%
Asset backed 3.5%
Mortgage backed 1.8%
Subtotal 91.5%
Corporate high yield 1.4%
Emerging market debt5 2.8%
Other —   
Cash and cash equivalents
  & other assets less liabilities
4.3%
Total portfolio   100.0%
Portfolio characteristics
  Series F
FundSERV CIF 821
MER6 0.61%
Fund inception Apr 30, 2008
Minimum initial investment $500
12-month distribution rate7 2.5%
Portfolio managers
Years with Capital / Years in profession
Timothy Ng 10 / 18
Thomas Reithinger 10 / 13
Top 10 issuers4
% of Portfolio Yield %
Canada Housing Trust No.1 14.4 4.3
Government of Canada 10.4 3.5
Province of British Columbia 5.2 4.1
Province of Quebec 4.6 4.3
Province of Saskatchewan 4.6 4.3
Intl Bank For Reconstruct 4.0 4.2
Province of Prince Edward Island 3.1 4.2
Canadian Imperial Bank of Commerce 2.9 5.3
Bank of Montreal 2.7 6.3
Royal Bank of Canada 2.4 4.7
Country and currency4
Top 5 countries
Canada 69.6%
United States 12.7%
Supranational 4.0%
Germany 3.1%
United Kingdom 1.8%
Top 5 currencies (after hedging)
Canadian Dollar 98.1%
Yen 0.7%
Euro 0.7%
Rupiah 0.3%
Mexican Peso 0.2%
Bond quality summary4
% of Bonds
AAA/Aaa 24.4
AA/Aa 33.7
A 16.1
BBB/Baa 20.0
BB/Ba 3.9
B 0.9
CCC/Caa & below 0.4
Unrated 0.6
Investment grade 94.2
Below investment grade 5.2
1 As of June 30, 2023.
2 Includes the impact of callable bonds. Duration is a measure of the approximate sensitivity of a bond portfolio's value to interest rate changes.
3 Reflects the lowest yield that can be realized by either calling or putting on one of the available call/put dates, or holding a bond to maturity. Includes the underlying holdings in Capital Group Global High Income Opportunities (LUX).
4 Includes the Fund's direct portfolio holdings as well as the holdings through Capital Group Global High Income Opportunities (LUX).
5 May include a portion of investment-grade issues.
6
Capital Group, at its discretion, currently waives some of its management fees or absorbs some expenses of certain Capital Group funds. Such waivers and absorptions may be terminated at any time, but can be expected to continue for certain portfolios until such time as such funds are of sufficient size to reasonably absorb all management fees and expenses incurred in their operations.
The management expense ratios for the portfolios are based on unaudited total expenses for the six-month period ended June 30, 2023 and are expressed as an annualized percentage of daily average net assets during the period. Actual MERs may vary. The following lists the management expense ratios for Capital Group Canadian Core Plus Fixed Income Fund (Canada) before waivers or absorptions for the six-month period ended June 30, 2023: Series A, 1.15%; Series F, 0.61%; Series I, 0.17%.
7 Reflects the sum of income distributions over the trailing 12 months, divided by the sum of the previous month's ending NAV plus any capital gains distributed over the 12-month period.
Not available to U.S. residents.
Updated on a monthly basis.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their value changes frequently and past performance may not be repeated.
Timothy Ng
Years at Capital: 10
Years in profession: 18
Based in Los Angeles
Timothy Ng is a fixed income portfolio manager at Capital Group. As a fixed income investment analyst, he covers U.S. Treasuries, TIPS, and interest rate swaps. Prior to joining Capital, Tim was an analyst for a global macro hedge fund at WCG Management L.P., a director in U.S. dollar rates trading at UBS Investment Bank and an assistant vice president in fixed income trading at Barclays Capital. He holds a bachelor’s degree with honours in computer science from the University of Waterloo, Ontario.
Thomas Reithinger
Years at Capital: 10
Years in profession: 13
Based in London
Thomas Reithinger is a fixed income portfolio manager at Capital Group. As a fixed income investment analyst, he covers sovereign debt. Prior to joining Capital, Thomas worked as an analyst at Monashee Investment Management and as a research associate at Dix Hills Partners. He holds an MBA from Harvard Business School and double bachelor's degrees in business & management and computer engineering from Rensselaer Polytechnic Institute graduating summa cum laude.
Capital Group funds and Capital International Asset Management (Canada), Inc., are part of Capital Group, a global investment management firm originating in Los Angeles, California in 1931. Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed-income investment professionals provide fixed-income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Distributions
    Series F
2024 YTD Income $0.041
  Capital gains
  Total $0.041
2023 Income $0.233
  Capital gains
  Total $0.233
2022 Income $0.221
  Capital gains
  Total $0.221
2021 Income $0.142
  Capital gains $0.008
  Total $0.150
2020 Income $0.191
  Capital gains $0.140
  Total $0.331
Historical Prices & Distributions
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Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.