Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class I N I Z NAV | as of 11/05/2024 $8.81 +$0.02 (+0.23%) Morningstar | Style Box L M E H M L Growth of $10,000 (Hypothetical) Since Inception 07/18/2011 to 10/31/2024 = $14,278.18 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. SEE ALL PERFORMANCE The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end, please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the Fund inception date preceded the benchmark, the benchmark data will not be shown. Read Important Investment Disclosures Objective The Fund seeks to provide income and capital growth by investing primarily in a diversified portfolio of fixed-income securities across investment-grade, high-yield, and non-traditional fixed-income asset classes. Why Consider Provides investors with exposure to a diversified portfolio of fixed income securities The Fund employs a disciplined, team-based approach, seeking to add consistent value through management of duration, yield curve, and credit risk The investment strategy utilizes a long-established process of macro driven duration management, yield-curve positioning, and credit allocation with the ability to tactically allocate up to 30% of the portfolio in high-yield bonds and other fixed-income asset classes as opportunities arise Documents Fact Sheet Commentary Summary Prospectus Prospectus 2023 Distributions View All Documents Investment Style Beutel Goodman Core Plus Bond Fund has a Fixed Income objective, seeking to achieve a high level of current income. High Med. Low Ltd. Mod. Ext. Fixed Income Objective Beutel Goodman Core Plus Bond Fund is categorized as Medium-Moderate. It combines medium credit quality with moderate interest-rate sensitivity. Morningstar Ratings Risk-adjusted returns as of 09/30/2024 Overall Rating (of 546) 3 Years (of 546) 5 Years (of 505) 10 Years (of 357) Category Intermediate Core-Plus Bond Read Important Investment Disclosures Derek Brown, MBA, CFA SENIOR VICE PRESIDENT, CO-HEAD OF FIXED INCOME Derek joined Beutel Goodman in 2016 and has over 15 years of investment experience. He is a portfolio manager and co-lead of the fixed income team. His strategic responsibilities include portfolio duration, positioning, and risk exposure management. Prior to joining Beutel Goodman, Derek worked at Fiera Capital where he was a fixed income portfolio manager. Derek is a graduate of Concordia University and McGill University and a CFA charterholder. Sue McNamara, CFA SENIOR VICE PRESIDENT, FIXED INCOME Sue joined Beutel Goodman in 2006 and has over 25 years of investment experience. She is a portfolio manager and strategist with additional responsibilities for credit analysis and product design. In addition, she leads the fixed income team’s responsible investing efforts. Prior to joining Beutel Goodman, Sue worked as a research analyst for several of the large brokerage houses, most recently BMO Nesbitt Burns. Sue is a graduate of the University of Western Ontario and a CFA charterholder. Neil McCabe, MBA, CFA VICE PRESIDENT, FIXED INCOME Neil joined Beutel Goodman in 2019 as a credit analyst to lead the firm's high yield initiative. Prior to joining the firm he gained extensive investment experience, most recently as a portfolio manager for Fiera Capital. Neil is a graduate of McMaster University and IESE Business School and is a CFA charterholder. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month-end, please call 800.548.4539. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the Fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods shorter than one year are not annualized. Expense Ratios Gross Expense Ratio: 0.57% Net Expense Ratio: 0.48% Expense Cap Expiration Date: 03/01/2025 Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Oct 29, 2024 $0.032000 $0.032000 — — Sep 26, 2024 $0.033500 $0.033500 — — Aug 28, 2024 $0.033300 $0.033300 — — Jul 29, 2024 $0.033500 $0.033500 — — Jun 26, 2024 $0.032700 $0.032700 — — May 29, 2024 $0.034400 $0.034400 — — Apr 26, 2024 $0.032800 $0.032800 — — Mar 26, 2024 $0.032700 $0.032700 — — Feb 27, 2024 $0.030700 $0.030700 — — Jan 29, 2024 $0.032600 $0.032600 — — Dec 14, 2023 $0.036600 $0.036600 — — Nov 28, 2023 $0.033200 $0.033200 — — Oct 27, 2023 $0.028800 $0.028800 — — Sep 27, 2023 $0.029100 $0.029100 — — Aug 29, 2023 $0.030400 $0.030400 — — Jul 27, 2023 $0.027800 $0.027800 — — Jun 28, 2023 $0.029500 $0.029500 — — May 26, 2023 $0.029600 $0.029600 — — Apr 26, 2023 $0.029600 $0.029600 — — Mar 29, 2023 $0.031400 $0.031400 — — Feb 24, 2023 $0.027900 $0.027900 — — Jan 27, 2023 $0.026400 $0.026400 — — Dec 15, 2022 $0.047500 $0.047500 — — Nov 28, 2022 $0.037300 $0.037300 — — Oct 27, 2022 $0.034600 $0.034600 — — Sep 28, 2022 $0.027600 $0.027600 — — Aug 29, 2022 $0.024900 $0.024900 — — Jul 27, 2022 $0.029200 $0.029200 — — Jun 28, 2022 $0.026100 $0.026100 — — May 26, 2022 $0.025700 $0.025700 — — Apr 27, 2022 $0.024900 $0.024900 — — Mar 29, 2022 $0.024200 $0.024200 — — Feb 24, 2022 $0.023200 $0.023200 — — Jan 27, 2022 $0.022600 $0.022600 — — Dec 15, 2021 $0.024400 $0.024400 — — Nov 26, 2021 $0.027700 $0.027700 — — Oct 27, 2021 $0.025300 $0.025300 — — Sep 28, 2021 $0.022700 $0.022700 — — Aug 27, 2021 $0.021200 $0.021200 — — Jul 28, 2021 $0.021100 $0.021100 — — Jun 28, 2021 $0.020600 $0.020600 — — May 26, 2021 $0.020100 $0.020100 — — Apr 28, 2021 $0.023200 $0.023200 — — Mar 29, 2021 $0.022300 $0.022300 — — Feb 24, 2021 $0.020700 $0.020700 — — Jan 27, 2021 $0.022200 $0.022200 — — Dec 16, 2020 $0.050600 $0.050600 — — Nov 25, 2020 $0.031500 $0.031500 — — Oct 28, 2020 $0.024700 $0.024700 — — Sep 28, 2020 $0.023300 $0.023300 — — Aug 27, 2020 $0.021700 $0.021700 — — Jul 29, 2020 $0.021400 $0.021400 — — Jun 26, 2020 $0.025100 $0.025100 — — May 27, 2020 $0.019000 $0.019000 — — Apr 28, 2020 $0.033300 $0.033300 — — Mar 27, 2020 $0.035200 $0.035200 — — Feb 26, 2020 $0.025500 $0.025500 — — Jan 29, 2020 $0.026600 $0.026600 — — Dec 16, 2019 $0.030300 $0.030300 — — Nov 26, 2019 $0.035800 $0.035800 — — Oct 29, 2019 $0.035100 $0.035100 — — Sep 26, 2019 $0.029800 $0.029800 — — Aug 28, 2019 $0.029800 $0.029800 — — Jul 29, 2019 $0.032800 $0.032800 — — Jun 26, 2019 $0.032100 $0.032100 — — May 29, 2019 $0.030600 $0.030600 — — Apr 26, 2019 $0.031800 $0.031800 — — Mar 27, 2019 $0.034000 $0.034000 — — Feb 26, 2019 $0.026400 $0.026400 — — Jan 29, 2019 $0.028800 $0.028800 — — Dec 27, 2018 $0.043000 $0.043000 — — Nov 28, 2018 $0.034300 $0.034300 — — Oct 29, 2018 $0.028300 $0.028300 — — Sep 26, 2018 $0.034300 $0.034300 — — Aug 29, 2018 $0.035000 $0.035000 — — Jul 27, 2018 $0.034300 $0.034300 — — Jun 27, 2018 $0.026900 $0.026900 — — May 29, 2018 $0.026800 $0.026800 — — Apr 26, 2018 $0.025500 $0.025500 — — Mar 27, 2018 $0.026300 $0.026300 — — Feb 26, 2018 $0.024900 $0.024900 — — Jan 29, 2018 $0.024300 $0.024300 — — Dec 27, 2017 $0.023700 $0.023700 — — Nov 27, 2017 $0.026300 $0.026300 — — Oct 26, 2017 $0.026900 $0.026900 — — Sep 26, 2017 $0.026900 $0.026900 — — Aug 28, 2017 $0.029400 $0.029400 — — Jul 26, 2017 $0.024400 $0.024400 — — Jun 27, 2017 $0.034600 $0.034600 — — May 25, 2017 $0.034300 $0.034300 — — Apr 25, 2017 $0.034300 $0.034300 — — Mar 28, 2017 $0.029300 $0.029300 — — Feb 23, 2017 $0.026700 $0.026700 — — Jan 26, 2017 $0.027300 $0.027300 — — Dec 27, 2016 $0.075800 $0.055000 $0.020800 — Nov 25, 2016 $0.027300 $0.027300 — — Oct 26, 2016 $0.027600 $0.027600 — — Sep 30, 2016 $0.028200 $0.028200 — — Aug 31, 2016 $0.031200 $0.031200 — — Jul 29, 2016 $0.027100 $0.027100 — — Jun 30, 2016 $0.028600 $0.028600 — — May 31, 2016 $0.028900 $0.028900 — — Apr 29, 2016 $0.025600 $0.025600 — — Mar 31, 2016 $0.028400 $0.028400 — — Feb 29, 2016 $0.025400 $0.025400 — — Jan 29, 2016 $0.020500 $0.020500 — — Dec 30, 2015 $0.034200 $0.034200 — — Nov 30, 2015 $0.033100 $0.033100 — — Oct 30, 2015 $0.028900 $0.028900 — — Sep 30, 2015 $0.030200 $0.030200 — — Aug 31, 2015 $0.034000 $0.034000 — — Jul 31, 2015 $0.035400 $0.035400 — — Jun 30, 2015 $0.038000 $0.038000 — — May 29, 2015 $0.033200 $0.033200 — — Apr 30, 2015 $0.034300 $0.034300 — — Mar 31, 2015 $0.033100 $0.033100 — — Feb 27, 2015 $0.035200 $0.035200 — — Jan 30, 2015 $0.034500 $0.034500 — — Dec 30, 2014 $0.036000 $0.036000 — — Nov 28, 2014 $0.025700 $0.025700 — — Oct 31, 2014 $0.027000 $0.027000 — — Sep 30, 2014 $0.038000 $0.038000 — — Aug 29, 2014 $0.032600 $0.032600 — — Jul 31, 2014 $0.039800 $0.039800 — — Jun 30, 2014 $0.042100 $0.042100 — — May 30, 2014 $0.037700 $0.037700 — — Apr 30, 2014 $0.039700 $0.039700 — — Mar 31, 2014 $0.039400 $0.039400 — — Feb 28, 2014 $0.033200 $0.033200 — — Jan 31, 2014 $0.037600 $0.037600 — — Dec 30, 2013 $0.039400 $0.039400 — — Nov 29, 2013 $0.032900 $0.032900 — — Oct 31, 2013 $0.035300 $0.035300 — — Sep 30, 2013 $0.037500 $0.037500 — — Aug 30, 2013 $0.033200 $0.033200 — — Jul 31, 2013 $0.035900 $0.035900 — — Jun 28, 2013 $0.028300 $0.028300 — — May 31, 2013 $0.031000 $0.031000 — — Apr 30, 2013 $0.033300 $0.033300 — — Mar 28, 2013 $0.027300 $0.027300 — — Feb 28, 2013 $0.028200 $0.028200 — — Jan 31, 2013 $0.027300 $0.027300 — — Dec 28, 2012 $0.090200 $0.030100 $0.058800 $0.001300 Nov 30, 2012 $0.039200 $0.039200 — — Oct 31, 2012 $0.034300 $0.034300 — — Sep 28, 2012 $0.028000 $0.028000 — — Aug 31, 2012 $0.030500 $0.030500 — — Jul 31, 2012 $0.028200 $0.028200 — — Jun 29, 2012 $0.026900 $0.026900 — — May 31, 2012 $0.033700 $0.033700 — — Apr 30, 2012 $0.034300 $0.034300 — — Mar 30, 2012 $0.029800 $0.029800 — — Feb 29, 2012 $0.030600 $0.030600 — — Jan 31, 2012 $0.031800 $0.031800 — — Dec 29, 2011 $0.068000 $0.052700 $0.015300 — Nov 30, 2011 $0.040900 $0.040900 — — Oct 31, 2011 $0.038300 $0.038300 — — Sep 30, 2011 $0.029800 $0.029800 — — Aug 31, 2011 $0.024600 $0.024600 — — Jul 29, 2011 $0.005000 $0.005000 — — From: To: Risk & Return Statistics As of: 10/31/2024 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -0.28 -0.11 0.05 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 7.78 7.40 5.52 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. -0.81 -0.39 -0.05 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 100.79 113.95 100.20 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 102.56 110.08 100.70 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.01 1.03 0.96 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 98.31 76.70 75.25 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 1.01 3.58 2.75 View All Characteristics & Statistics All Characteristics & Statistics Beutel Goodman Core Plus Bond Fund (ADLIX) Portfolio Characteristics (Fixed Income) Risk & Return Effective Maturity Fund Holdings Fund Bloomberg US Aggregate Bond Index Fund Assets (Mil.$) $124 Number of Holdings 99 13657 Average Effective Duration (years) 6.09 6.2 Average Modified Duration (years) 6.22 Convexity 0.29 0.53 Average Maturity (years) 8.61 8.36 Yield to Maturity 4.75% 4.23% Yield to Worst 4.72% 4.23% Current Yield 4.47% 3.58% SEC 30-Day Yield (%) 4.06% SEC 30-Day Yield (%) w/o fee 3.94% Average Coupon 4.48% 3.37% Average Price 97.99 94.04 Average Credit Quality AA- AA2/AA3 Trailing 12-Months Portfolio Turnover 94.47% % Callable 37.95% % Non-US 13.51% Adjustable Coupon 12.90% Step Coupon 0.00% Zero Coupon 0.00% As of: 09/30/2024 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -0.28 -0.11 0.05 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 7.78 7.40 5.52 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. -0.81 -0.39 -0.05 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 100.79 113.95 100.20 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 102.56 110.08 100.70 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.01 1.03 0.96 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 98.31 76.70 75.25 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 1.01 3.58 2.75 Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -0.30 -0.05 -0.02 Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. -6.23 -2.78 -0.28 Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -16.72 -17.51 -17.51 As of: 10/31/2024 Maturity Fund Less Than 2 Years 9.82% 2 to 5 Years 21.84% 5 to 10 Years 52.13% 10 to 15 Years 0.71% More Than 15 Years 15.50% NA 0.00% As of: 09/30/2024 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Fixed) As of: 09/30/2024 United States Treasury Note/Bond Fixed 8.80% United States Treasury Note/Bond Fixed 4.58% Fannie Mae Pool FS2676 Fixed 3.55% Fannie Mae Pool BL4421 Fixed 3.48% United States Treasury Note/Bond Fixed 2.90% United States Treasury Note/Bond Fixed 2.87% Bank of America Corp Floating 2.42% Fannie Mae Pool BL5484 Fixed 2.36% United States Treasury Note/Bond Fixed 2.27% Mileage Plus Holdings LLC Fixed 144A 1.86% % in Top 10 Holdings 35.08% View Holding Details Holding Details Beutel Goodman Core Plus Bond Fund (ADLIX) Top 10 Holdings (Fixed Income) All Holdings Fund Holdings Coupon Maturity % of Net Assets United States Treasury Note/Bond Fixed 4.5% Nov 2033 8.80% United States Treasury Note/Bond Fixed 4.25% Feb 2054 4.58% Fannie Mae Pool FS2676 Fixed 3% Jun 2052 3.55% Fannie Mae Pool BL4421 Fixed 2.14% Oct 2029 3.48% United States Treasury Note/Bond Fixed 3% Aug 2052 2.90% United States Treasury Note/Bond Fixed 1.88% Feb 2041 2.87% Bank of America Corp Floating - Apr 2028 2.42% Fannie Mae Pool BL5484 Fixed 2.26% Jan 2030 2.36% United States Treasury Note/Bond Fixed 3.5% Feb 2033 2.27% Mileage Plus Holdings LLC Fixed 144A 6.5% Jun 2027 1.86% % in Top 10 Holdings 35.08% As of: 09/30/2024 Download All Holdings (PDF) As of: 09/30/2024 Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund United States Treasury Note/Bond Fixed 4.50% Nov 2033 U.S. Government B US USD 10,346,000 105.61 $10,925,942 8.80% United States Treasury Note/Bond Fixed 4.25% Feb 2054 U.S. Government B US USD 5,585,000 101.91 $5,691,464 4.58% Fannie Mae Pool FS2676 Fixed 3.00% Jun 2052 Mortgage-Backed Security B US USD 4,901,955 90.01 $4,412,284 3.55% Fannie Mae Pool BL4421 Fixed 2.14% Oct 2029 Mortgage-Backed Security B US USD 4,700,000 91.88 $4,318,269 3.48% United States Treasury Note/Bond Fixed 3.00% Aug 2052 U.S. Government B US USD 4,484,000 80.36 $3,603,490 2.90% United States Treasury Note/Bond Fixed 1.88% Feb 2041 U.S. Government B US USD 4,855,000 73.33 $3,560,080 2.87% Bank of America Corp Floating Apr 2028 Corporate B US USD 3,000,000 100.16 $3,004,752 2.42% Fannie Mae Pool BL5484 Fixed 2.26% Jan 2030 Mortgage-Backed Security B US USD 3,200,000 91.47 $2,927,157 2.36% United States Treasury Note/Bond Fixed 3.50% Feb 2033 U.S. Government B US USD 2,865,000 98.26 $2,815,086 2.27% Mileage Plus Holdings LLC Fixed 6.50% Jun 2027 144A Corporate B US USD 2,275,167 101.24 $2,303,456 1.86% Freddie Mac Pool SD8104 Fixed 1.50% Nov 2050 Mortgage-Backed Security B US USD 2,799,197 79.22 $2,217,661 1.79% United States Treasury Note/Bond Fixed 4.75% Nov 2053 U.S. Government B US USD 1,975,000 110.46 $2,181,526 1.76% Bank of Nova Scotia Floating Oct 2082 Corporate B CA USD 2,000,000 108.16 $2,163,286 1.74% Goldman Sachs Group Inc Floating Apr 2035 Corporate B US USD 2,000,000 107.45 $2,148,994 1.73% Enbridge Inc Floating Perpetual Corporate B CA USD 2,000,000 105.93 $2,118,566 1.71% Fannie Mae Pool BL4420 Fixed 2.14% Oct 2029 Mortgage-Backed Security B US USD 2,300,000 91.88 $2,113,195 1.70% Columbia Pipelines Holding Co LLC Fixed 5.68% Jan 2034 144A Corporate B US USD 2,000,000 103.15 $2,062,900 1.66% Solventum Corp Fixed 5.45% Mar 2031 144A Corporate B US USD 2,000,000 103.09 $2,061,770 1.66% Federation des Caisses Desjardins du Quebec Fixed 5.25% Apr 2029 144A Corporate B CA USD 2,000,000 103.06 $2,061,289 1.66% Intact Financial Corp Fixed 5.46% Sep 2032 144A Corporate B CA USD 2,000,000 102.56 $2,051,229 1.65% Fannie Mae Pool MA4209 Fixed 1.50% Dec 2050 Mortgage-Backed Security B US USD 2,402,560 79.13 $1,901,191 1.53% Freddie Mac Pool SD8112 Fixed 1.50% Dec 2050 Mortgage-Backed Security B US USD 2,395,252 79.18 $1,896,626 1.53% Morgan Stanley Floating Oct 2028 Corporate B US USD 1,500,000 105.72 $1,585,743 1.28% General Motors Financial Co Inc Fixed 5.55% Jul 2029 Corporate B US USD 1,500,000 103.12 $1,546,807 1.25% TTX Co Fixed 5.50% Sep 2026 144A Corporate B US USD 1,500,000 102.14 $1,532,101 1.23% American Airlines Inc Fixed 5.50% Apr 2026 144A Corporate B US USD 1,458,333 99.71 $1,454,173 1.17% United States Treasury Note/Bond Fixed 3.88% Aug 2033 U.S. Government B US USD 1,397,000 100.80 $1,408,241 1.13% Fannie Mae Pool MA4562 Fixed 2.00% Mar 2052 Mortgage-Backed Security B US USD 1,574,341 82.81 $1,303,705 1.05% Freddie Mac Pool SD8245 Fixed 4.50% Sep 2052 Mortgage-Backed Security B US USD 1,256,947 98.36 $1,236,286 1.00% Freddie Mac Pool SD8238 Fixed 4.50% Aug 2052 Mortgage-Backed Security B US USD 1,255,610 98.43 $1,235,841 1.00% Freddie Mac Pool SD8231 Fixed 4.50% Jul 2052 Mortgage-Backed Security B US USD 1,253,306 98.34 $1,232,458 0.99% Fannie Mae Pool MA4701 Fixed 4.50% Aug 2052 Mortgage-Backed Security B US USD 1,251,024 98.40 $1,230,956 0.99% Fannie Mae Pool MA4918 Fixed 5.00% Feb 2053 Mortgage-Backed Security B US USD 1,219,737 100.02 $1,219,996 0.98% Fannie Mae REMICS Fixed 3.00% Jan 2045 Mortgage-Backed Security B US USD 1,264,387 96.38 $1,218,583 0.98% Consolidated Edison Co of New York Inc Fixed 6.15% Nov 2052 Corporate B US USD 1,000,000 114.25 $1,142,512 0.92% Bank of America Corp Floating Sep 2034 Corporate B US USD 1,000,000 107.89 $1,078,859 0.87% Toronto-Dominion Bank Floating Oct 2082 Corporate B CA USD 1,000,000 107.28 $1,072,812 0.86% GFL Environmental Inc Fixed 6.75% Jan 2031 144A Corporate B CA USD 1,000,000 104.88 $1,048,832 0.84% Air Lease Corp Fixed 5.85% Dec 2027 Corporate B US USD 1,000,000 104.27 $1,042,691 0.84% Duke Energy Progress LLC Fixed 5.35% Mar 2053 Corporate B US USD 1,000,000 103.47 $1,034,673 0.83% Delta Air Lines Inc Fixed 7.38% Jan 2026 Corporate B US USD 1,000,000 102.88 $1,028,765 0.83% Charter Communications Operating LLC Fixed 6.15% Nov 2026 Corporate B US USD 1,000,000 102.78 $1,027,801 0.83% Element Fleet Management Corp Fixed 6.27% Jun 2026 144A Corporate B CA USD 1,000,000 102.68 $1,026,841 0.83% Albertsons Cos Inc Fixed 6.50% Feb 2028 144A Corporate B US USD 1,000,000 101.82 $1,018,201 0.82% Rogers Communications Inc Fixed 5.30% Feb 2034 Corporate B CA USD 1,000,000 101.74 $1,017,359 0.82% Kroger Co Fixed 5.00% Sep 2034 Corporate B US USD 1,000,000 100.83 $1,008,339 0.81% Synchrony Bank Fixed 5.40% Aug 2025 Corporate B US USD 1,000,000 100.21 $1,002,108 0.81% Delta Air Lines Inc Fixed 4.75% Oct 2028 144A Corporate B US USD 1,000,000 99.88 $998,816 0.80% Ford Motor Credit Co LLC Fixed 5.30% Sep 2029 Corporate B US USD 1,000,000 99.53 $995,292 0.80% Videotron Ltd Fixed 5.13% Apr 2027 144A Corporate B CA USD 998,000 99.67 $994,689 0.80% Videotron Ltd Fixed 3.63% Jun 2029 144A Corporate B CA USD 998,000 95.42 $952,279 0.77% Freddie Mac Gold Pool G08658 Fixed 3.00% Aug 2045 Mortgage-Backed Security B US USD 924,000 92.38 $853,597 0.69% Freddie Mac Pool SD0035 Fixed 3.00% Apr 2047 Mortgage-Backed Security B US USD 758,084 92.16 $698,626 0.56% Canadian Pacific Railway Co Fixed 7.13% Oct 2031 Corporate B CA USD 600,000 115.76 $694,576 0.56% COMM 2016-CR28 Mortgage Trust Floating Feb 2049 Mortgage-Backed Security B US USD 726,000 89.75 $651,567 0.52% Fannie Mae REMICS Fixed 4.00% Apr 2042 Mortgage-Backed Security B US USD 664,363 97.78 $649,635 0.52% Freddie Mac Gold Pool G08653 Fixed 3.00% Jul 2045 Mortgage-Backed Security B US USD 695,699 92.38 $642,692 0.52% Freddie Mac Pool SD8342 Fixed 5.50% Jul 2053 Mortgage-Backed Security B US USD 606,546 101.15 $613,511 0.49% JPMBB Commercial Mortgage Securities Trust 2015-C33 Floating Dec 2048 Mortgage-Backed Security B US USD 670,000 89.47 $599,436 0.48% Columbia Pipelines Operating Co LLC Fixed 6.54% Nov 2053 144A Corporate B US USD 500,000 112.63 $563,133 0.45% JBS USA Holding Lux Sarl Fixed 6.75% Mar 2034 144A Corporate B LU USD 500,000 110.79 $553,948 0.45% Ginnie Mae Ii Pool MA9364 Fixed 6.50% Dec 2053 Mortgage-Backed Security B US USD 512,298 102.36 $524,402 0.42% South Bow Canadian Infrastructure Holdings Ltd Floating Mar 2055 144A Corporate B CA USD 500,000 103.64 $518,176 0.42% Cheniere Energy Inc Fixed 5.65% Apr 2034 144A Corporate B US USD 500,000 103.46 $517,305 0.42% Fannie Mae Pool AS4645 Fixed 3.00% Mar 2045 Mortgage-Backed Security B US USD 559,083 92.39 $516,543 0.42% Delta Air Lines Inc Fixed 7.00% May 2025 144A Corporate B US USD 500,000 101.05 $505,267 0.41% United States Treasury Note/Bond Fixed 4.88% Apr 2026 U.S. Government B US USD 475,000 101.71 $483,108 0.39% Fannie Mae REMICS Fixed 2.75% Nov 2042 Mortgage-Backed Security B US USD 511,460 93.76 $479,544 0.39% CSAIL 2017-CX10 Commercial Mortgage Trust Floating Nov 2050 Mortgage-Backed Security B US USD 506,000 90.80 $459,440 0.37% Suncor Energy Inc Fixed 7.15% Feb 2032 Corporate B CA USD 400,000 112.82 $451,286 0.36% Citigroup Commercial Mortgage Trust 2019-GC43 Fixed 2.98% Nov 2052 Mortgage-Backed Security B US USD 451,760 99.82 $450,968 0.36% State Of California Fixed 7.55% Apr 2039 Municipal Bond B US USD 330,000 125.69 $414,774 0.33% Fannie Mae REMICS Fixed 4.00% Jan 2041 Mortgage-Backed Security B US USD 457,020 88.68 $405,264 0.33% JPMBB Commercial Mortgage Securities Trust 2014-C23 Floating Sep 2047 Mortgage-Backed Security B US USD 330,824 96.52 $319,326 0.26% United States Treasury Note/Bond Fixed 4.13% Aug 2053 U.S. Government B US USD 320,000 99.58 $318,663 0.26% Freddie Mac REMICS Fixed 4.00% Nov 2041 Mortgage-Backed Security B US USD 309,149 97.13 $300,281 0.24% JPMDB Commercial Mortgage Securities Trust 2020-COR7 Floating May 2053 Mortgage-Backed Security B US USD 496,000 55.00 $272,790 0.22% Freddie Mac Gold Pool T65110 Fixed 3.50% Oct 2042 Mortgage-Backed Security B US USD 198,705 94.72 $188,207 0.15% GSCG Trust 2019-600C Fixed 3.76% Sep 2034 144A Mortgage-Backed Security B US USD 862,000 11.90 $102,603 0.08% Fannie Mae Pool MA0919 Fixed 3.50% Dec 2031 Mortgage-Backed Security B US USD 87,026 98.36 $85,600 0.07% Government National Mortgage Association Fixed 4.50% May 2039 Mortgage-Backed Security B US USD 83,338 100.57 $83,812 0.07% Government National Mortgage Association Fixed 4.50% Sep 2039 Mortgage-Backed Security B US USD 80,533 100.62 $81,033 0.07% Fannie Mae Pool MA0949 Fixed 3.50% Jan 2032 Mortgage-Backed Security B US USD 78,593 98.18 $77,166 0.06% Government National Mortgage Association Fixed 4.50% May 2039 Mortgage-Backed Security B US USD 74,361 99.18 $73,748 0.06% Freddie Mac REMICS Fixed 5.00% Dec 2034 Mortgage-Backed Security B US USD 61,545 102.80 $63,271 0.05% Vodafone Group PLC Fixed 7.88% Feb 2030 Corporate B GB USD 44,000 116.96 $51,464 0.04% Fannie Mae REMICS Fixed 4.50% Dec 2041 Mortgage-Backed Security B US USD 44,055 99.01 $43,617 0.04% Freddie Mac REMICS Fixed 5.50% Aug 2036 Mortgage-Backed Security B US USD 39,765 105.28 $41,865 0.03% Fannie Mae Pool MA3894 Fixed 4.00% Sep 2031 Mortgage-Backed Security B US USD 29,551 99.55 $29,419 0.02% Fannie Mae Pool AB5459 Fixed 4.00% Jun 2042 Mortgage-Backed Security B US USD 24,231 98.24 $23,804 0.02% Freddie Mac REMICS Fixed 4.50% Jul 2041 Mortgage-Backed Security B US USD 22,163 99.92 $22,146 0.02% Freddie Mac Gold Pool T60392 Fixed 4.00% Oct 2041 Mortgage-Backed Security B US USD 16,777 97.13 $16,295 0.01% Freddie Mac REMICS Floating Jan 2041 Mortgage-Backed Security B US USD 18,652 72.09 $13,446 0.01% Freddie Mac REMICS Fixed 4.00% Jun 2041 Mortgage-Backed Security B US USD 10,300 98.86 $10,182 0.01% Government National Mortgage Association Floating Mar 2034 Mortgage-Backed Security B US USD 6,337 101.15 $6,410 0.01% Freddie Mac Gold Pool G01840 Fixed 5.00% Jul 2035 Mortgage-Backed Security B US USD 5,797 102.65 $5,951 0.00% United States Treasury Note/Bond Fixed 1.88% Feb 2032 U.S. Government B US USD 400 88.31 $353 0.00% Freddie Mac REMICS Fixed 4.00% Mar 2042 Mortgage-Backed Security B US USD - 98.33 $0 0.00% Foresight Other Equities S US USD 202 14.57 $2,939 0.00% Cash & Equivalents Cash C US USD - - $7,449,781 6.00% Read Important Investment Disclosures Read Important Investment Disclosures Sector Allocation (Fixed) As of: 09/30/2024 View Allocation Details Allocation Details Beutel Goodman Core Plus Bond Fund (ADLIX) Sector Allocation (Fixed Income) Credit Allocation Sector Sort Order Fund Bloomberg US Aggregate Bond Index U.S. Agency 10 0.00% 0.76% U.S. Treasury 20 24.96% 43.63% Sovereign Debt 30 0.00% 3.72% Corporate 60 38.21% 24.55% Investment Grade 70 34.95% 24.55% Non-Investment Grade & Not Rated 100 3.25% 0.00% Mortgage-Backed Security 130 30.50% 26.89% Asset-Backed Security 170 0.00% 0.45% Municipal Bond 180 0.33% 0.00% Other Bonds 190 0.00% 0.00% Interest Rate Futures 200 0.00% 0.00% Equity Futures 210 0.00% 0.00% Swaps, Caps, and Floors 220 0.00% 0.00% Preferred Stock 230 0.00% 0.00% Options 240 0.00% 0.00% Other Sectors 250 0.00% 0.00% Cash 270 6.00% As of: 09/30/2024 Credit 09/30/2024 Treasury 26.55% Agency 30.00% AAA 0.39% AA 6.51% A 9.22% BBB 23.79% BB 3.46% B 0.00% CCC 0.00% CC 0.00% C 0.00% D 0.09% Not Rated 0.00% As of: 09/30/2024 Read Important Investment Disclosures About the Affiliate About Beutel Goodman Founded in 1967, Beutel, Goodman & Company Ltd. is an independent value-focused investment manager that serves institutional, private wealth, and retail clients. The firm’s equity strategies use bottom-up, fundamental research to invest in high-quality companies trading at discounts to their business value. Beutel Goodman takes a disciplined, team-based approach to fixed income, seeking to add value through management of duration, yield curve, and credit risk. Learn More About Beutel Goodman's Approach FOUNDED 1967 AMG AFFILIATE SINCE 2005 HEADQUARTERS Toronto, Canada Portfolio Managers Derek Brown, MBA, CFA SENIOR VICE PRESIDENT, CO-HEAD OF FIXED INCOME Read full bio Sue McNamara, CFA SENIOR VICE PRESIDENT, FIXED INCOME Read full bio Neil McCabe, MBA, CFA VICE PRESIDENT, FIXED INCOME Read full bio Investment Approach Related products Other Products From Beutel Goodman Beutel Goodman Global Equity Strategy View SMA Details Beutel Goodman International Equity Strategy View SMA Details Beutel Goodman U.S. Large Cap Value Equity Strategy View SMA Details Stay up-to-date Sign up to receive our latest views and thinking, in addition to other news and product-related information. CHOOSE SUBSCRIPTIONS