Renaissance Floating Rate Income Fund [Class A]

To generate a high level of current income, primarily through investment in senior floating rate loans and other floating rate debt instruments, as well as lower-rated debt securities of issuers located anywhere in the world.

Additional Fund Information
Also available in Class F

Minimum Initial Investment:
Lump Sum
Initial: $500
Subsequent: $100

Distributions: The Fund aims to distribute a consistent amount every month ($0.044 per unit). If the amount distributed exceeds the Fund's net income and net realized capital gains, such excess will constitute a return of capital. The amount of distribution is not guaranteed and may change from time to time.
Pre-Authorized Chequing Investment: $50 minimum investment for monthly, quarterly, semi-annual or annual deposit.
Systematic Withdrawal Plan: With minimum initial account value of $10,000. Withdrawals may be made monthly, quarterly, semi-annually or annually. $50 minimum.
Annual Management Fee (excluding applicable taxes): N/A* 
Annualized Management Expense Ratio (including applicable taxes) as at Aug 31, 2022: 1.52%
Front-End Load OptionATL2503
Back-End Load Option-
Low Load Option-
Closed to all purchases
Front-End Load Option-
Back-End Load Option**ATL2505
Low Load Option**ATL2504
Inception DateSep 16, 2013
Fund CodeATL2503
Assets Under Management ($000)
As at : 09/29/2023
$1,332,120

Ares Management is headquartered in Los Angeles with offices across the U.S., Europe and Asia, supported by approximately 700 employees across four operating divisions. The four divisions are the Private Equity Group, the Private Debt Group, the Commercial Real Estate Group and the Capital Markets Group. Ares Capital Markets Group ("Ares") invests in tradable securities, including broadly syndicated leveraged loans, high yield bonds and other fixed income investments. The Capital Markets Group's Portfolio Managers average more than 15 years of relevant experience investing in below-investment grade debt. A central tenet of Ares disciplined approach is to place a high priority on the preservation of principal (primarily through default avoidance) and minimizing downside risk.

Jason Duko, Ares Management LLC

Portfolio Manager, Ares Management LLC
Mr. Duko is a Partner and Portfolio Manager of U.S. Liquid Credit in the Ares Credit Group, where he is primarily responsible for managing Ares’ U.S. bank loan credit strategies. Mr. Duko also serves as a Vice President of Ares Dynamic Credit Allocation Fund, Inc. Additionally, he serves as a member of the Ares Credit Group’s U.S. Liquid Credit Investment Committee. Prior to joining Ares in 2018, Mr. Duko was a Portfolio Manager at PIMCO, where he managed bank loan assets across a broad range of investment strategies and was responsible for secondary loan trading across all sectors. Previously, Mr. Duko was an Associate Portfolio Manager at Lord Abbett & Co. LLC., where he focused on its leveraged loan business, portfolio management, trading decisions and marketing. He also held positions at Nomura Corporate Research and Asset Management and ING Pilgrim Research. Mr. Duko holds a B.S. from Arizona State University in Finance, where he was a Barrett Honors College Graduate.

Samantha Milner, Ares Management LLC

Ms. Milner is a Partner, Portfolio Manager and Head of U.S. Liquid Credit Research in the Ares Credit Group, where she is primarily responsible for managing Ares’ U.S. bank loan credit strategies. Additionally, she serves as a member of the Ares Credit Group’s U.S. Liquid Credit Investment Committee, and the Ares Dynamic Credit Allocation Fund Investment Committee. Prior to joining Ares in 2004, Ms. Milner was an Associate in the Financial Restructuring Group at Houlihan Lokey Howard & Zukin, where she focused on providing advisory services in connection with restructurings, distressed mergers and acquisitions and private placements. Ms. Milner holds a B.B.A., with distinction, from Emory University’s Goizueta Business School in Finance and Accounting.

Style

The investment style box is a graphical depiction of the investing categories an investment manager will invest within.
Fixed Income Strategy †† Net Rates

Term to Maturity (Years) ††Duration (Years) ††Average YTM (%) ††
4.39 0.63 8.76
As of Aug 31, 2023 Source: BNY Mellon Analytics
Term to Maturity (Years)
The time remaining on a bond's life, or the date on which the debt will cease to exist and the borrower will have completely paid off the amount borrowed.

Duration (Years)
Duration is defined as the weighted average time to full recovery of principal and interest.

Yield to Maturity (Average YTM)
The percentage rate of return paid on a bond, note or other fixed income security if the investor buys and holds it to its maturity date. The calculation for YTM is based on the coupon rate, length of time to maturity and market price. It assumes that coupon interest paid over the life of the bond will be reinvested at the same rate.
Performance
3 mo6 moYTD1 yr3 yrs5 yrs10 yrsSince Inception
4.9%5.3%8.3%8.7%4.6%4.3%5.5%5.5%
3 mo
6 mo
YTD
1 yr
3 yrs
5 yrs
10 yrs
Since Inception
4.9%
5.3%
8.3%
8.7%
4.6%
4.3%
5.5%
5.5%

As at: 09/29/2023

Calendar Year Performance
2022202120202019201820172016201520142013
3.7%3.1%0.50%3.8%7.1%(3.7%)3.4%17.7%9.4%N/A
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
3.7%
3.1%
0.50%
3.8%
7.1%
(3.7%)
3.4%
17.7%
9.4%
N/A
Investment Performance

Value of $10,000 invested since inception

The rate of return or mathematical table shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the fund or returns on investment in the fund.

*Denotes Projected MERs as at December 1, 2021. Actual MERs may vary.

† Please refer to the Annual/Interim Management Reports of Fund Performance for further details.

**Effective May 13, 2022, all deferred sales charge (referred to as DSC) purchase options (i.e. back-end load and low-load options) are closed to new purchases, including purchases through pre-authorized chequing plans. Switches to units of another Fund managed by CIBC Asset Management Inc. under the same DSC purchase option will continue to be available.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Renaissance Investments family of funds simplified prospectus before investing. The indicated rates of return are the historical annual compounded total returns for the class A units including changes in unit value and reinvestment of all distributions, but 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. The values of many mutual funds change frequently. Past performance may not be repeated.