Integrated Fixed Income – Short Term

Strategy Overview

Investment Strategy

The Integrated Fixed Income Short Term Bond strategy combines top‑down macroeconomic analysis and bottom-up credit research, with an emphasis on security selection, with the goal of generating consistent outperformance across all market environments. This strategy prioritizes capital preservation, liquidity, and diversification while benefitting from the Integrated Fixed Income team’s extensive credit research experience.

Why Invest in this Strategy

Experienced fixed income team working together for over 20 years with specialized credit sector responsibilities
Proven ability to consistently outperform across market cycles
Flexible multi-discipline approach with an emphasis on credit research and issuer selection
Core fixed income strategy focused on capital preservation, liquidity, and targeting superior risk-adjusted returns

Highlights

								Inception Date
								October 1, 2000
							

								Assets Under Management ($M)
								$1,813 (As of December 31, 2025)
							

								Price
								$97.0699 (As of April 14, 2026)
							

								Last Distribution Paid ($)
								$0.3021 (March 31, 2026)
							

								Style
								Active, multi-strategy, emphasis on credit
							

								Process
								Integration of bottom-up and top-down analysis
							

								Expected sources of added value
								75% Credit and sector, 15% Duration, 10% Yield Curve
							

								Turnover
								Moderate
							

								Duration
								Typically benchmark ± 0.3 year
							

Performance (%)

Annual Performance

	Q4 2025	YTD - 2025	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IFI – Short Term Bond Composite	0.34	4.19	4.19	6.47	5.75	-3.70	-0.72	5.86	3.58	1.97	0.75	1.80
FTSE Canada Short Term Bond	0.33	3.88	3.88	5.70	5.02	-4.04	-0.93	5.29	3.10	1.91	0.08	1.01
Value Added	0.01	0.31	0.31	0.77	0.73	0.34	0.21	0.57	0.48	0.06	0.67	0.79

Q4 2025
	%
IFI – Short Term Bond Composite	0.34
FTSE Canada Short Term Bond	0.33
Value Added	0.01

YTD - 2025
	%
IFI – Short Term Bond Composite	4.19
FTSE Canada Short Term Bond	3.88
Value Added	0.31

2025
	%
IFI – Short Term Bond Composite	4.19
FTSE Canada Short Term Bond	3.88
Value Added	0.31

2024
	%
IFI – Short Term Bond Composite	6.47
FTSE Canada Short Term Bond	5.70
Value Added	0.77

2023
	%
IFI – Short Term Bond Composite	5.75
FTSE Canada Short Term Bond	5.02
Value Added	0.73

2022
	%
IFI – Short Term Bond Composite	-3.70
FTSE Canada Short Term Bond	-4.04
Value Added	0.34

2021
	%
IFI – Short Term Bond Composite	-0.72
FTSE Canada Short Term Bond	-0.93
Value Added	0.21

2020
	%
IFI – Short Term Bond Composite	5.86
FTSE Canada Short Term Bond	5.29
Value Added	0.57

2019
	%
IFI – Short Term Bond Composite	3.58
FTSE Canada Short Term Bond	3.10
Value Added	0.48

2018
	%
IFI – Short Term Bond Composite	1.97
FTSE Canada Short Term Bond	1.91
Value Added	0.06

2017
	%
IFI – Short Term Bond Composite	0.75
FTSE Canada Short Term Bond	0.08
Value Added	0.67

2016
	%
IFI – Short Term Bond Composite	1.80
FTSE Canada Short Term Bond	1.01
Value Added	0.79

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
IFI – Short Term Bond Composite	4.19	5.32	5.47	3.10	2.32	2.90	3.00	2.87	2.63	2.55	3.82
FTSE Canada Short Term Bond	3.88	4.78	4.86	2.56	1.85	2.42	2.51	2.44	2.17	2.06	3.52
Value Added	0.31	0.54	0.61	0.54	0.47	0.48	0.49	0.43	0.46	0.49	0.30

1 Y
	%
IFI – Short Term Bond Composite	4.19
FTSE Canada Short Term Bond	3.88
Value Added	0.31

2 Y
	%
IFI – Short Term Bond Composite	5.32
FTSE Canada Short Term Bond	4.78
Value Added	0.54

3 Y
	%
IFI – Short Term Bond Composite	5.47
FTSE Canada Short Term Bond	4.86
Value Added	0.61

4 Y
	%
IFI – Short Term Bond Composite	3.10
FTSE Canada Short Term Bond	2.56
Value Added	0.54

5 Y
	%
IFI – Short Term Bond Composite	2.32
FTSE Canada Short Term Bond	1.85
Value Added	0.47

6 Y
	%
IFI – Short Term Bond Composite	2.90
FTSE Canada Short Term Bond	2.42
Value Added	0.48

7 Y
	%
IFI – Short Term Bond Composite	3.00
FTSE Canada Short Term Bond	2.51
Value Added	0.49

8 Y
	%
IFI – Short Term Bond Composite	2.87
FTSE Canada Short Term Bond	2.44
Value Added	0.43

9 Y
	%
IFI – Short Term Bond Composite	2.63
FTSE Canada Short Term Bond	2.17
Value Added	0.46

10 Y
	%
IFI – Short Term Bond Composite	2.55
FTSE Canada Short Term Bond	2.06
Value Added	0.49

SI
	%
IFI – Short Term Bond Composite	3.82
FTSE Canada Short Term Bond	3.52
Value Added	0.30

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

Composite returns, presented gross of management fees

Investment Team

Philippe Ouellette MSc, CFA

Senior Portfolio Manager, Integrated Fixed Income

Montreal

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Jeff Seaver BA, CFA

Portfolio Manager, Fixed Income

Toronto

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Nicolas Normandeau MSc, CFA

Portfolio Manager, Fixed Income

Montreal

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Jasper Beerepoot MBA, MSc

Portfolio Manager, Credit Research

MONTREAL

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The team is supported by four analysts and benefits from the expertise of our entire fixed income team, which boasts two distinct trading desks in Montreal and Toronto.

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.