Mackenzie Global Tactical Investment Grade Bond Fund
FIXED INCOME FUND
Quarterly Portfolio Disclosure
As of June 30, 2016
Summary of Investment Portfolio
Portfolio Allocation
Top 25 Long Holdings
% of NAV
Bonds...................................................................................................88.2
Bonds...............................................................................................88.6
Purchased options*............................................................................0.0
Short futures**................................................................................. (0.4)
Cash and short-term investments........................................................10.5
Other assets (liabilities).........................................................................1.3
Regional Allocation
% of NAV
United States.......................................................................................19.2
Canada................................................................................................. 17.7
Other.................................................................................................... 11.8
Cash and short-term investments........................................................10.5
Mexico....................................................................................................6.2
New Zealand..........................................................................................5.9
France....................................................................................................4.6
Australia.................................................................................................4.5
Poland....................................................................................................2.8
Netherlands............................................................................................2.6
Spain......................................................................................................2.5
Chile.......................................................................................................2.5
Norway...................................................................................................2.4
Portugal.................................................................................................2.0
Denmark.................................................................................................1.8
Germany.................................................................................................1.7
Other assets (liabilities).........................................................................1.3
Sector Allocation
% of NAV
Foreign government bonds...................................................................52.2
Corporate bonds...................................................................................20.8
Cash and short-term investments........................................................10.5
Provincial bonds.....................................................................................5.2
Term loans.............................................................................................4.4
Federal bonds.........................................................................................2.9
Supra-national bonds.............................................................................2.6
Other assets (liabilities).........................................................................1.3
Mortgage backed...................................................................................0.4
Asset backed..........................................................................................0.1
Other.................................................................................................... (0.4)
Net Currency Exposure
% of NAV
Canadian dollar....................................................................................82.2
U.S. dollar............................................................................................10.8
Other......................................................................................................2.3
Swedish krona........................................................................................1.8
Mexican peso.........................................................................................1.5
New Zealand dollar.................................................................................1.4
Issuer
% of NAV
Cash and short-term investments
Government of New Zealand 4.50% 04-15-2027
Government of France 1.00% 11-25-2025
Government of France 0.50% 05-25-2025
Government of Netherlands 0.25% 07-15-2025
Queensland Treasury Corp. 4.75% 07-21-2025
United States Treasury 1.50% 10-31-2019
Government of New Zealand 3.50% 04-14-2033
Government of Poland 3.25% 07-25-2025
Mexican Bonos 5.00% 12-11-2019
United States Treasury Inflation Indexed Bonds 0.75% 02-15-2045
The Kingdom of Denmark 1.75% 11-15-2025
Government of Portugal 5.125% 10-15-2024
United States Treasury Inflation Indexed Bonds 0.125% 04-15-2019
Province of Ontario 4.20% 06-02-2020
Government of Mexico 10.00% 12-05-2024
Government of Canada 1.25% 12-01-2047
Province of Ontario 2.85% 06-02-2023
Commonwealth of Bahamas 5.75% 01-16-2024
Government of Spain Inflation Linked Bond 1.00% 11-30-2030
Republic of Chile 5.50% 08-05-2020
Government of Malaysia 3.955% 09-15-2025
Province of Ontario 1.875% 05-21-2020
United States Treasury 1.00% 09-15-2018
Government of Norway 1.75% 03-13-2025
10.5
3.3
2.3
2.3
2.3
2.2
2.1
2.1
2.0
1.7
1.6
1.5
1.5
1.5
1.5
1.4
1.3
1.3
1.2
1.2
1.1
1.1
1.1
1.0
1.0
Top long positions as a percentage
of total net asset value
50.1
*Notional principal values represent 7.0% of NAV for purchased options.
**Notional principal values represent –0.7% of NAV for Canadian 10-Year Bond
Futures, –1.8% of NAV for Euro-Bund Futures, –1.9% of NAV for US Treasury
Note 10-Year Futures, –2.1% of NAV for CME Ultra Long-Term U.S. Treasury Bond
Futures, and –5.6% of NAV for Swedish 10-Year Government Bond Futures.
Mackenzie Global Tactical Investment Grade Bond Fund
FIXED INCOME FUND
Quarterly Portfolio Disclosure (cont’d)
As of June 30, 2016
Top 25 Short Holdings
Issuer
% of NAV
Canadian 10-Year Bond Futures**
Euro-Bund Futures**
US Treasury Note 10-Year Futures**
CME Ultra Long-Term U.S. Treasury Bond Futures**
Swedish 10-Year Government Bond Futures**
(0.0)
(0.0)
(0.1)
(0.1)
(0.2)
Top short positions as a percentage
of total net asset value
(0.4)
Total net asset value of the Fund
$81.2 million
The investments and percentages may have changed since June 30, 2016, due to the
ongoing portfolio transactions of the Fund. Quarterly updates of holdings are available
within 60 days of the end of each quarter except for March 31, the Fund’s fiscal
year‑end, when they are available within 90 days.