Company Details

Directors and Officers

The following are the names, office(s) held and principal occupations of the directors and officers of the Trustee:

Brian D. McChesney
President, Chief Executive Officer and Director
(Corporate Director)

Massimo Ceschia
Chief Financial Officer and Director
(Director, Scotia Capital Inc.)

Douglas Derry
(Corporate Director)

Terry Jackson
(Corporate Director)

D. Anthony Ross
(Chair of the Board of Infrastructure Ontario)

Robert Hall
(Managing Director, Scotia Capital Inc.)


The Fund has been established to provide investors with investment exposure to a diversified portfolio of Canadian high yield fixed income securities ("Canadian HY Corporate Bonds") to be actively managed by High Rock Capital Management Inc. (the "Portfolio Manager"). The Portfolio Manager believes that Canadian HY Corporate Bonds can provide investors with: (i) attractive yields that historically have had a low correlation with rising interest rates; (ii) the potential for "equity-like" total return performance with lower volatility than equities; (iii) portfolio diversification from other fixed income securities; and (iv) a replacement for income trust securities.

Summary Statistics as at 01/17/2019

HideClass A Units
Net Asset Value (NAV) per Unit $7.67
Units Outstanding 2,178,814
Market Capitalization $15,774,613
Expense Ratio 1.89%
IPO Date 03/31/2011
Ticker Symbol AHY.UN
Issue Price $10.00
Market Price (TSX) $7.24
Trailing 12-Month Distrbution 0.4600

HideClass F Units
Net Asset Value (NAV) per Unit $7.75
Units Outstanding 268,350
Total NAV $2,080,962
Expense Ratio 1.00%
IPO Date 03/31/2011
Issue Price $10.00
Trailing 12-Month Distrbution $0.7400

General Information

Distribution Policy

The Fund intends to make quarterly cash distributions to unitholders of record on the last business day of each calendar quarter. The Fund does not have a fixed distribution but targets quarterly distributions based on the estimated annual cash available to the Fund from the income on the portfolio of Canadian HY Corporate Bonds net of any expenses.


Unitholders will have the right to surrender their Class A or Class F units for redemption at an amount equal to the NAV per unit on December 15 of each year (less any costs and expenses incurred in connection with funding the redemption). Units must be surrendered for redemption on or before November 15. Payment of the proceeds of redemption will be made on or before December 31 of each year.

Legal Notices

You will usually pay brokerage fees to your dealer if you purchase or sell units of the investment fund on the TSX (or other eligible market) where the investment fund is listed and quoted. If the units are purchased or sold on the TSX or other market, investors may pay more than the current net asset value when buying units of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in these documents. The indicated rates of return on this site are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account certain fees such as redemption fees or optional charges or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.