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Ninepoint Core Bond Fund

Why Invest in Ninepoint Core Bond Fund

  • Absolute return focus.
  • Active management of duration, security mix, and credit rating to capture upside potential or reduce risk.
  • Portfolio interest risk is managed through tactical options positions.
  • The fund invests strategically in domestic and global corporate credit, government bonds, developed market sovereign debt.
  • Pedigree of the Portfolio Manager with significant experience in the fixed income market.

 

Fund Objective

The investment objective of Ninepoint Core Bond Fund is to seek to provide unitholders with income and long term capital appreciation through an actively managed portfolio consisting primarily of corporate investment grade and high yield securities, and government bonds.

Factors affecting fixed income investments

  1. Significant exposure to low yielding government bonds
  2. Excessive duration
  3. Returns driven by interest rates

Largest Canadian Bond Index ETF:

Portfolio Composition

Yield: 2.9%
Duration: 7.5 years
Number of holdings: over 1200

Source: iShares

For illustrative purposes only.


Target Higher Current Income With Less Volatility

Active Bond Strategies like Ninepoint Core Bond Fund are Better Equipped to:

1) Perform when interest rates are rising - Fixed income funds with long duration are more sensitive to interest rate moves and so, actively managing portfolio duration can help reduce risk and improve performance.

2) Avoid holdings overlap – Fund-of-fund products may be comprised of thousands of fixed income securities, increasing the potential for duplicate holdings and leaving investors overdiversified and overexposed to some securities and sectors.

3) Take advantage of market conditions by tactically shifting portfolio allocation. For example, if the yield curve flattens and interest rates start to rise, an actively managed fund can move holdings from government and high yield bonds to investment grade bonds, which tend to outperform in conditions where the economy is still growing.


The Ninepoint Core Bond Fund is an actively managed portfolio with an emphasis on risk management.

Unlike an index/ETF, the manager uses an asset allocation framework that adjusts the portfolio to reflect macroeconomic conditions.

Slope of the Yield Curve (10-year Treasury Note to 3-Month Treasury Bill Spread) - Canada

Depending on market conditions, the portfolio duration and allocations can be adjusted to better manage risk for the investor:

*Series FS units are lower management fee versions of Series F units of the Fund and are available to all investors until the earlier of March 31, 2019 and the date the Fund has assets under management equal to or greater than $100 million, at which time Series FS will be closed to new purchases.

Are You An Accredited Investor?

The minimum subscription amount is $150,000.00 in all jurisdictions, unless you meet the definition of "accredited investor" under National Instrument 45-106 Prospectus and Registration Exemptions.

If you meet the definition "accredited investor" (see below), you may invest a minimum of $25,000. Please consult the Offering Memorandum to determine your qualification status. Investment Advisors should consult their company's internal policies.

The Subscriber, or one or more beneficial purchasers for whom the Subscriber is acting, is (i) a resident of, or the purchase and sale of securities to the Subscriber is otherwise subject to the securities legislation of one of the following: British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, Newfoundland and Labrador, Nova Scotia, New Brunswick, Prince Edward Island, North West Territories, or Nunavut, and the Subscriber is (and will at the time of acceptance of the Subscription be) an accredited investor within the meaning of National Instrument 45-106 Prospectus and Registration Exemptions ("NI 45-106") because the Subscriber is one of the following:

(a) a Canadian financial institution, or a Schedule III bank;
(b) the Business Development Bank of Canada incorporated under the Business Development Bank of Canada Act (Canada);
(c) a subsidiary of any person referred to in paragraphs (a) or (b), if the person owns all of the voting securities of the subsidiary, except the voting securities required by law to be owned by directors of that subsidiary;
(d) a person registered under the securities legislation of a jurisdiction of Canada as an adviser or dealer, other than a person registered solely as a limited market dealer under one or both of the Securities Act (Ontario) or the Securities Act (Newfoundland and Labrador);
(e) an individual registered or formerly registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred to in paragraph (d);
(f) the Government of Canada or a jurisdiction of Canada, or any crown corporation, agency or wholly owned entity of the Government of Canada or a jurisdiction of Canada;
(g) a municipality, public board or commission in Canada and a metropolitan community, school board, the Comité de gestion de la taxe scolaire de l'île de Montréal or an intermunicipal management board in Québec;
(h) any national, federal, state, provincial, territorial or municipal government of or in any foreign jurisdiction, or any agency of that government;
(i) a pension fund that is regulated by the Office of the Superintendent of Financial Institutions (Canada), a pension commission or similar regulatory authority of a jurisdiction of Canada;
(j) an individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that before taxes, but net of any related liabilities, exceeds $1,000,000;
(k) an individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year;
(Note: If individual accredited investors wish to purchase through wholly-owned holding companies or similar entities, such purchasing entities must qualify under section (t) below, which must be initialled.)
(l) an individual who, either alone or with a spouse, has net assets of at least $5,000,000;
(m) a person, other than an individual or investment fund, that has net assets of at least $5,000,000 as shown on its most recently prepared financial statements;
(n) an investment fund that distributes or has distributed its securities only to:
  1. a person that is or was an accredited investor at the time of the distribution,
  2. a person that acquires or acquired securities in the circumstances referred to in sections 2.10 [Minimum amount investment] or 2.19 [Additional investment in investment funds] of NI 45- 106, or
  3. a person described in paragraph (i) or (ii) that acquires or acquired securities under section 2.18 [Investment fund reinvestment] of NI 45-106;
(o) an investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada for which the regulator or, in Québec, the securities regulatory authority, has issued a receipt;
(p) a trust company or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a fully managed account managed by the trust company or trust corporation, as the case may be;
(q) a person acting on behalf of a fully managed account managed by that person, if that person:
  1. is registered or authorized to carry on business as an adviser or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction; and
  2. Ontario, is purchasing a security that is not a security of an investment fund;
(r) a registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility adviser or an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice on the securities being traded;
(s) an entity organized in a foreign jurisdiction that is analogous to any of the entities referred to in paragraphs (a) to (d) or paragraph (i) in form and function;
(t) a person in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are accredited investors;
(u) an investment fund that is advised by a person registered as an adviser or a person that is exempt from registration as an adviser, or;
(v) a person that is recognized or designated by the securities regulatory authority or, except in Ontario and Québec, the regulator as an accredited investor.

 

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