Renaissance Floating Rate Income Fund (US$) [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 an amount every month equal to $CAD 0.044 per unit. Where the distribution is payable in U.S. dollars, the distribution amount is converted into U.S. dollars using the prevailing currency exchange rate on the day that the distribution is paid. If the amount distributed exceeds the fund's net income and net realized capital gains, such excess would 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, 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): 1.25%
Annualized Management Expense Ratio (including applicable taxes) as at Aug 31, 2023: 1.45%
Front-End Load OptionATL2506
Back-End Load Option-
Low Load Option-
Closed to all purchases
Front-End Load Option-
Back-End Load Option**ATL2508
Low Load Option**ATL2507
Inception DateSep 16, 2013
Fund CodeATL2506
Assets Under Management ($000)
As at : 06/28/2024
$1,472,916

Ares Capital Management, an affiliate of Ares Management Corporation (“Ares”), serves as an investment advisor to ASIF. Ares is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. As of September 30, 2023, Ares’ global platform had approximately $395 billion of assets under management, with approximately 2,800 employees4 operating across North America, Europe, Asia Pacific and the Middle East.

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.

Russell Almeida, Ares Management LLC

Mr. Almeida is a Managing Director and U.S. Liquid Credit Portfolio Manager in the Ares Credit Group, where he is primarily responsible for managing Ares' U.S. bank loan credit strategies. Prior to joining Ares in 2008, Mr. Almeida was an Associate in the Securitization Banking Group at Lehman Brothers, where he focused on providing advisory services to financial institutions. Mr. Almeida holds a B.S., magna cum laude, from the University of California, Riverside, in Business Administration.

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 (%) ††
4.48 0.63 8.55
As of May 31, 2024 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
2.0%4.1%4.1%10.0%4.4%4.3%3.2%3.1%
3 mo
6 mo
YTD
1 yr
3 yrs
5 yrs
10 yrs
Since Inception
2.0%
4.1%
4.1%
10.0%
4.4%
4.3%
3.2%
3.1%

As at: 06/28/2024

Calendar Year Performance
2023202220212020201920182017201620152014
11.5%(3.2%)3.8%2.50%9.1%(1.4%)2.9%6.6%(1.1%)0.1%
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
11.5%
(3.2%)
3.8%
2.50%
9.1%
(1.4%)
2.9%
6.6%
(1.1%)
0.1%
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.

†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.