Cash in Action

Strategy Overview

Investment Strategy

The Fiera Cash in Action strategy is an actively managed cash management solution whose primary objectives are to provide robust liquidity and preserve capital, with a secondary focus on generating the highest possible income within a risk-controlled environment. The strategy employs a combination of top-down macroeconomic and bottom-up credit analysis to benefit from both spread variations and interest rate fluctuations to generate consistent outperformance across all market environments.

Why Invest in this Strategy

Experienced fixed income team working together for over 20 years with specialized credit sector responsibilities.
Highly liquid, highly secure fund benefitting from the same rigorous credit research and approval process that underpins all Integrated Fixed Income strategies.
Cash management solution with 30+ year track record developed in conjunction with Canadian universities, emphasizing liquidity and capital preservation.

Highlights

								Inception Date
								April 1, 2013
							

								Assets Under Management ($M)
								$367 (As of December 31, 2025)
							

								Price
								$10.0000 (As of April 28, 2026)
							

								Last Distribution Paid ($)
								$0.0006 (April 28, 2026)
							

								Process
								Top-down and bottom-up analysis
							

								Performance objective
								FTSE Canada 30‑day T-bills +0.15%
							

								Minimum credit rating
								R1 Mid
							

								Maximum maturity
								60 days for each holding
							

Performance (%)

Annual Performance

	Q4 2025	YTD - 2025	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Cash in Action Strategy	0.63	2.84	2.84	4.60	5.02	1.96	0.14	0.72	1.82	1.51	0.85	0.67
FTSE Canada 30 Day T-Bill Index	0.61	2.73	2.73	4.71	4.77	1.69	0.09	0.61	1.68	1.30	0.63	0.47
Value Added	0.02	0.11	0.11	-0.11	0.25	0.27	0.05	0.11	0.14	0.21	0.22	0.20

Q4 2025
	%
Cash in Action Strategy	0.63
FTSE Canada 30 Day T-Bill Index	0.61
Value Added	0.02

YTD - 2025
	%
Cash in Action Strategy	2.84
FTSE Canada 30 Day T-Bill Index	2.73
Value Added	0.11

2025
	%
Cash in Action Strategy	2.84
FTSE Canada 30 Day T-Bill Index	2.73
Value Added	0.11

2024
	%
Cash in Action Strategy	4.60
FTSE Canada 30 Day T-Bill Index	4.71
Value Added	-0.11

2023
	%
Cash in Action Strategy	5.02
FTSE Canada 30 Day T-Bill Index	4.77
Value Added	0.25

2022
	%
Cash in Action Strategy	1.96
FTSE Canada 30 Day T-Bill Index	1.69
Value Added	0.27

2021
	%
Cash in Action Strategy	0.14
FTSE Canada 30 Day T-Bill Index	0.09
Value Added	0.05

2020
	%
Cash in Action Strategy	0.72
FTSE Canada 30 Day T-Bill Index	0.61
Value Added	0.11

2019
	%
Cash in Action Strategy	1.82
FTSE Canada 30 Day T-Bill Index	1.68
Value Added	0.14

2018
	%
Cash in Action Strategy	1.51
FTSE Canada 30 Day T-Bill Index	1.30
Value Added	0.21

2017
	%
Cash in Action Strategy	0.85
FTSE Canada 30 Day T-Bill Index	0.63
Value Added	0.22

2016
	%
Cash in Action Strategy	0.67
FTSE Canada 30 Day T-Bill Index	0.47
Value Added	0.20

Annualized as at December 31, 2025

	1 Y	2 Y	3 Y	4 Y	5 Y	6 Y	7 Y	8 Y	9 Y	10 Y	SI
Cash in Action Strategy	2.84	3.71	4.15	3.60	2.90	2.53	2.43	2.31	2.15	2.00	3.53
FTSE Canada 30 Day T-Bill Index	2.73	3.72	4.07	3.47	2.78	2.42	2.31	2.19	2.01	1.86	-
Value Added	0.11	-0.01	0.08	0.13	0.12	0.11	0.12	0.12	0.14	0.14	-

1 Y
	%
Cash in Action Strategy	2.84
FTSE Canada 30 Day T-Bill Index	2.73
Value Added	0.11

2 Y
	%
Cash in Action Strategy	3.71
FTSE Canada 30 Day T-Bill Index	3.72
Value Added	-0.01

3 Y
	%
Cash in Action Strategy	4.15
FTSE Canada 30 Day T-Bill Index	4.07
Value Added	0.08

4 Y
	%
Cash in Action Strategy	3.60
FTSE Canada 30 Day T-Bill Index	3.47
Value Added	0.13

5 Y
	%
Cash in Action Strategy	2.90
FTSE Canada 30 Day T-Bill Index	2.78
Value Added	0.12

6 Y
	%
Cash in Action Strategy	2.53
FTSE Canada 30 Day T-Bill Index	2.42
Value Added	0.11

7 Y
	%
Cash in Action Strategy	2.43
FTSE Canada 30 Day T-Bill Index	2.31
Value Added	0.12

8 Y
	%
Cash in Action Strategy	2.31
FTSE Canada 30 Day T-Bill Index	2.19
Value Added	0.12

9 Y
	%
Cash in Action Strategy	2.15
FTSE Canada 30 Day T-Bill Index	2.01
Value Added	0.14

10 Y
	%
Cash in Action Strategy	2.00
FTSE Canada 30 Day T-Bill Index	1.86
Value Added	0.14

SI
	%
Cash in Action Strategy	3.53
FTSE Canada 30 Day T-Bill Index	-
Value Added	-

Past performance is not a guarantee or indicator of future results. Inherent in any investment is the risk of loss.

Pooled fund performance, gross of management fees.

Investment Team

Jeff Seaver BA, CFA

Portfolio Manager, Fixed Income

Toronto

View profile

He is supported by the credit analysis skills of the Integrated Fixed Income Team as well as by a trader dedicated to treasury management.

Documents

Strategy Profile

Disclaimer

Please read the simplified prospectus before investing. The amount of risk associated with any particular investment depends largely on your own personal circumstances including your time horizon, liquidity needs, portfolio size, income, investment knowledge and attitude toward price fluctuations. Investors should consult their financial advisor before making a decision as to whether this fund is a suitable investment for them.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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 mutual fund or returns on investment in the mutual fund. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns.