Investment objective

To provide total returns comprised of interest income and capital growth while minimizing the exposure to currency fluctuations between foreign currencies and the Canadian dollar. The fund invests primarily in government debt securities of emerging market countries and may also invest in emerging market corporate bonds and government debt securities of developed countries. The fund may do so either directly or indirectly through investment in other mutual funds managed by RBC GAM or an affiliate. The fund will also use derivatives to hedge against the fluctuations in the value of foreign currencies relative to the Canadian dollar.

  • Fund Category Fixed Income Funds
  • Inception Date Sep 26, 2016
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Fund details

Series
Currency
Fund code
MER * (%)
F CAD 35146 0.93%

Portfolio analysis As of Mar 31, 2025

0% 100%
Equity Fixed Income

Asset mix

Fixed Income Breakdown
Government Bonds80.1%
Corporate Bonds15.3%
ST Investments (Cash & Other)4.6%
Top 10 Holdings
% Assets
Philippine Government International Bond 7.750% Jan 14, 2031 2.2%
Oman Government International Bond 4.750% Jun 15, 2026 2.1%
Peruvian Government International Bond 8.750% Nov 21, 2033 1.9%
Oman Government International Bond 6.500% Mar 08, 2047 1.8%
Saudi Government International Bond 4.500% Apr 17, 2030 1.7%
Argentine Republic Government International Bond 4.125% Jul 09, 2035 1.7%
United States Treasury Note/Bond 4.000% Jul 31, 2029 1.6%
Petroleos Mexicanos 5.950% Jan 28, 2031 1.5%
Colombia Government International Bond 6.125% Jan 18, 2041 1.5%
Dominican Republic International Bond 7.450% Apr 30, 2044 1.5%
Total % of Top 10 Holdings 17.5%

Geographic allocation

Region

Performance analysis

Growth of $10,000 since inception

Calendar returns

Trailing return

1 Mth 3 Mth 6 Mth 1 year 3 years 5 years 10 years Since Inception
-0.7 -0.4 0.4 6.9 4.5 2.6 - 1.2 Fund

Distribution ($)/unit

YTD* 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Total distributions 0.10 0.37 0.35 0.38 0.38 0.37 0.36 0.41 0.63 0.32 ---
Interest --- 0.37 0.35 0.38 0.37 0.37 0.36 0.41 0.39 0.14 ---
Canadian dividends --- --- --- --- --- --- --- --- --- --- ---
Foreign dividends --- --- --- 0.00 0.00 --- --- --- --- --- ---
Foreign taxes paid --- --- --- --- 0.00 --- --- --- --- --- ---
Capital gains --- --- --- --- 0.01 --- --- --- 0.25 0.18 ---
Return of capital --- --- --- --- --- --- --- --- --- --- ---

* MER (%) is based on actual expenses for the preceding calendar year or most recent half-year period ended June 30 expressed on an annualized basis, depending on availability of date at the time of publication.