Vertex Enhanced Income Fund

- Your source for a fixed 5% yield -

Overview

Portfolio Manager John Thiessen & Emily Wheeler
Firm Assets $824 Million
Fund Assets $36 Million
Purchase Minimum $500 (initial), $50 (subsequent)
Type of Fund North American Income
Inception Date Sept 21, 2009
RSP/TFSA Eligible Yes
Performance Fee 20% of the amount exceeding the daily relative benchmark
Management Fee (B)1.5% (F)0.75%
High Water Mark Yes, relative to benchmark
Early Switch/Redemption 2% fee within 30 calendar days of purchase
Valuation Frequency Daily
Distribution Frequency Monthly. Fixed 5% per annum. Applicable capital gains at year-end.
Offering Type Simplified Prospectus
Administration CIBC Mellon
Trustee CIBC Mellon
Custodian CIBC Mellon
Auditor PwC

Strategy

The fund will invest largely in high yield and convertible bonds, preferred shares, high-yielding equities (up to a 25% weight) and government debt including federal, provincial, state and municipal issues. Covered call writing will be used to enhance yield derived from the equity component of the fund.

Objective

The fundamental investment objective of the Vertex Enhanced Income Fund is to provide preservation of capital while providing high income by investing primarily in Canadian and United States bonds, debentures, and equities. The secondary objective is to provide capital growth.

Portfolio Manager

John Thiessen, CFA - Mr. John Thiessen is a founding partner and director of Vertex One Asset Management. He has operated as the lead manager of the Vertex Fund since its inception on February 6, 1998. Mr. Thiessen has significant investment experience with 23 years of equity, fixed income and arbitrage investing. He began his career with the Alberta Treasury Investment Management Division, after which he became an Investment Officer with National Trust. He was a Portfolio Manager with HSBC Asset Management before co-founding Vertex One Asset Management. Mr. Thiessen holds the professional designation of Chartered Financial Analyst (CFA) and is a member of the Institute of Chartered Financial Analysts.

Fund Codes

  • Class B : VRT 700
  • Class F : VRT 701
  • Low Load : VRT 702

Purchase Info

  • Minimum Investment :
  • $500 (initial)
  • $50 (subsequent)

Downloads

Quarterly Commentary

First Quarter Report 2019: The mandate of the Enhanced Income Fund since it started has been to provide our investors with income levels above those of traditional bonds, while also managing risk and volatility. Over the years we’ve successfully fulfilled this mandate. However, in doing so we remain cognizant that broad market declines that may impact multiple asset classes will occasionally happen. We experienced such an uncommon occurrence in the...

Vertex Enhanced Income Fund F Performance

View Class B Statistics *Annualized compound returns. Returns are Net of all Fees and include reinvested distributions. Inception Sept 21, 2009.

Current Net Asset Value

As at June 21, 2019

One Day

As at June 21, 2019

Month to Date

As at June 21, 2019

Year to Date

As at June 21, 2019
$8.4246 $0.0034 (0.04%) 0.03% 3.38%

Monthly Performance

As at May 31, 2019

1 Month

-2.57%

3 Month

-0.05%

6 Month

0.24%

1 Year

-2.15%

3 Year*

3.03%

5 Year*

-0.54%

Cumulative Return

As at May 31, 2019

Since Inception*

As at May 31, 2019

Percent Positive Months

As at May 31, 2019
52.89% 4.48% 62.39%
 
 
 

Fund vs Benchmark*

*60% PC Mid-Term Overall Bond Index + 20% S&P/TSX Preferred Share Index + 20% TSX TRI

Fund / Benchmark

Correlation

Standard Deviation

Sharpe Ratio†

Largest Monthly Gain

Largest Monthly Loss

Positive Months

Vertex Enhanced Income Fund 0.45 7.03% 0.31 4.43% -5.18% 62.39%
Benchmark* N/A 3.47% 0.42 3.42% -2.58% 66.67%

†Risk Free Rate = 1 Month LIBOR $USD (annualized)

*Returns are based on Class F shares. Inception Sept 21, 2009

Historical Returns*

*Returns are based on Class F shares. Inception Sept 21, 2009

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Year

20193.29%0.11%1.02%1.55%-2.57%3.35%
20182.63%-2.14%-1.71%-0.23%-0.19%0.52%2.31%-0.94%0.39%-4.95%0.41%-3.01%-6.93%
20171.72%2.24%0.26%-0.59%-1.19%-0.86%1.74%0.11%1.51%-1.53%-1.08%1.63%3.91%
2016-2.83%-1.04%4.43%2.67%1.80%-1.06%1.48%0.90%1.88%0.71%3.00%2.21%14.85%
2015-1.18%2.02%-1.22%1.53%-0.25%-0.77%-2.48%-3.21%-3.00%1.81%-2.36%-2.93%-11.47%
20140.63%2.28%0.68%0.61%1.39%1.20%-0.47%1.35%-2.67%-1.06%-1.05%-1.54%1.24%
20132.78%1.46%1.18%1.24%0.84%-1.49%1.27%-0.53%0.90%1.61%0.86%1.07%11.71%
20122.95%2.67%0.74%0.01%-1.70%0.35%2.11%1.33%1.49%1.35%0.07%1.27%13.29%
20112.14%1.82%0.73%0.58%-0.19%-1.97%-0.72%-4.63%-5.18%4.08%-2.17%0.13%-5.64%
20101.74%1.80%2.51%3.08%-4.48%-2.03%4.18%-1.17%4.08%2.73%-0.35%3.74%16.57%
2009-0.02%0.43%2.54%3.69%6.76%