Kipling Strategic Income Fund
This fund provides a steady stream of income through fixed income investing. It focuses on capital preservation while mitigating risk exposure from both an interest rate risk and credit risk perspective.
The fund is managed by a multi-disciplinary team led by Portfolio Manager Owen Morgan, MBA, CFA, along with Portfolio Managers John Poulter, CFA and Patrick Lau, PEng, CFA.
Available to accredited investors only. Ask your financial advisor for further information.
Owen Morgan, MBA, CFA
Investment Management
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Current Price
November 6, 2026
$10.47
0.03% $0.00
Fund Benefits
Higher income potential
The enhanced structure gives the portfolio manager more ways to drive returns.
More opportunities
Portfolio can include high yield, commercial paper, preferred shares and debentures.
Broad diversification
The portfolio is broadly diversified by sector, issuer and maturity.
Risk Rating
Performance
Compounded Returns As at September 30, 2026
| 1 month | 3 month | 6 month | 1 year | 3 year* | 5 year* | 10 year* | Inception* |
|---|---|---|---|---|---|---|---|
| 0.2% | 0.8% | 3.0% | 6.2% | 9.8% | 6.4% | 5.6% | 5.6% |
Annual Returns As at September 30, 2026
| YTD 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016* |
|---|---|---|---|---|---|---|---|---|---|---|
| 4.7% | 7.5% | 13.3% | 8.8% | -1.8% | 5.1% | 4.7% | 6.6% | 2.0% | 4.2% | 2.6% |
Dividends As at September 30, 2026
| YTD 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| $0.3240 | $0.8487 | $0.7209 | $0.5745 | $0.4057 | $0.5088 | $0.4685 | $0.4413 | $0.3492 | $0.3846 | $0.1712 |
Growth of $10,000
Top 10 Holdings As at September 30, 2026
- Bonterra Energy Corp 10.500 Jan 28 30 Fixed Income
- Enbridge Inc Fltg 5.375 Sep 27 77 Fixed Income
- First West Crd Union 9.186 Aug 09 33 Fixed Income
- Heavy Metal Equip Rn 7.250 Feb 26 30 Fixed Income
- Mda Space Ltd 7.000 Dec 23 30 Fixed Income
- Obsidian Energy Ltd 8.125 Dec 03 30 Fixed Income
- Surge Energy Inc. 8.500 Sep 05 29 Fixed Income
- Top Aces Inc 9.000 Mar 13 30 Fixed Income
- Transcanada Tr Fltg 4.650 May 18 77 Fixed Income
- West Edmonton Mall P 7.791 Oct 04 27 Fixed Income
Portfolio Region (%) As at September 30, 2026
-
Canadian Fixed Income 98.9%
-
US Fixed Income 1.0%
-
Cash 0.1%
Fixed Income Rating (%) As at September 30, 2026
-
AAA -18.9%
-
AA 3.3%
-
A 1.7%
-
BBB 63.3%
-
BB 46.2%
-
NR 1.0%
-
Preferred Shares 3.3%
-
Cash and Cash Equivalents 0.1%
DISCLAIMER
Except where indicated otherwise, F Series data, net of fees, * annualized.
The cumulative return shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the investment fund or returns on investment in the investment fund. The Kipling Funds are only available for sale to investors who meet the definition of “accredited investor” as set forth in National Instrument 45-106 Prospectus and Registration Exemptions, or non-individuals who will be investing a minimum of $150,000. Please contact us or consult the offering documents to determine your qualification status. Investors should take note that certain statements in this report about a fund or strategy, including expected future performance, are forward-looking. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the forward-looking statements. Although the forward-looking statements contained herein are based upon what the portfolio manager believes are reasonable assumptions, the portfolio manager cannot assure that actual results will be consistent with these forward-looking statements. Due to ongoing portfolio transactions, the positions discussed in this communication may no longer be held in the Fund. Past performance is not indicative of future results. NCM Asset Management Ltd. as manager and portfolio manager of the Kipling Funds may engage one or more sub advisors to provide investment management services to certain Funds, including its affiliate, Cumberland Investment Counsel Inc.
Purchase Exemptions and Minimum Investment Requirements
The Kipling Group of Funds are generally available to Canadian residents who can meet certain eligibility requirements under one of the following exemptions from the prospectus requirements in order to invest. The exemptions and their minimum initial investment amounts are:
Accredited Investor Exemption: This exemption is available only to “accredited investors” as defined in National Instrument 45-106 – Prospectus Exemption.
Minimum Amount Exemption: This exemption is available to residents in the offering jurisdictions, and the minimum initial purchase amount is $150,000.00.
Investors should contact their Financial Advisor for more information regarding these exemptions and their requirements. If you qualify under any of the above exemptions and can comfortably invest the minimum dollar amount specified, please accept the disclaimer below to learn more about the Kipling Group of Funds.
If you are a registered Portfolio Manager (Advising Representative) with a client in a fully managed account, there is no minimum purchase amount. There is a bulk subscription agreement that can be used to execute purchases for managed accounts.