Canada’s LSEG Lipper Fund Award-Winning Fixed Income Lineup*
At Guardian Capital LP, we believe that investors benefit from professional portfolio management, including within fixed income. Our deep and experienced Canadian fixed income portfolio management team has been managing assets for institutional and retail clients for decades and, as a testament to their exemplary efforts, have been awarded the LSEG Lipper Fund Award Canada 2025 for Best Bond Fund Family Group Over Three Years.
In our view, one of the biggest potential pitfalls for fixed income investors is focusing on yield rather than risk management.
Fixed income, as an asset class, is generally meant to serve three important purposes within portfolios:
Generate Income
Buffer Portfolios Against Equity Market Volatility
Preserve Capital
Chasing yield can result in disastrous consequences if investors don’t understand the various risks of the fixed income securities they are investing in. Guardian Capital LP’s Canadian Fixed Income Team has a process rooted in balancing between generating attractive levels of income and managing risks in the portfolio.
The Guardian Fixed Income Process
The process to strike this balance is completed by undertaking an in-depth analysis of the fixed income securities in the portfolio. Starting with a disciplined method of evaluating macro-opportunities, our experienced Fixed Income Team conducts a detailed bottom-up assessment, aiming to identify investment opportunities focused on generating optimal returns for every unit of risk. This disciplined methodology is designed with long-term income generation in mind. Guardian Capital LP’s Canadian Fixed Income Team uses tools that aim to capture added value from macroeconomic and microeconomic analysis, while managing volatility and downside risks. The team uses a combination of risk identification, value-add considerations and critical bottom-up security analysis, seeking to ensure an optimal mix of holdings in the fixed income portfolios.
Our Multi-Stage Process, Visualized
Our investment process incorporates an environmental, social and governance (ESG) consideration framework and also seeks to achieve three key goals:
Maximize diversification within the confines of the mandate (utilizing a globally diversified fixed income platform to optimize portfolios)
Focus on what we believe to be the best opportunities on a risk-adjusted basis (risk budgeting and allocation)
Construct portfolios that are focused on reducing downside risk and preserving capital (high-quality focus)
Decades of Experience
A team of nine Investment Professionals with over 25 years of average industry experience. (Years with firm/Industry experience)
Aubrey Basdeo
Head of Canadian Fixed Income
(5/35)
Domenic Gallelli
Portfolio Manager
(28/29)
Derrick Knie
Portfolio Manager
(15/31)
Scott Glassco
Fixed Income Strategist
(9/45)
Judith Henry
Trader, Money Market
(27/35)
Neil Wiacek
Investment Grade Credit Analyst
(2/4)
Benjamin Peng
Risk and Quantitative Analyst
(6/16)
Amanpreet Lamba
Trader
(2/6)
Andrew Silla
High Yield Credit Analyst
(5/7)
Our Landscape of Fixed Income Solutions
Guardian Capital LP offers a range of fixed income solutions that can be used as core holdings through various market environments. Depending on investment needs, investors can access either targeted or diversified exposure to a variety of fixed income solutions that we manage, such as via mutual funds and ETFs that invest in ultra-short treasury bills, Canadian and U.S. government bonds, investment-grade and high-yield bonds, and a range of defined maturity investment grade bond funds that mature just like individual bonds.
For Illustrative Purposes Only. Does not necessarily reflect current risk exposures, which are subject to change over time. Source: Guardian Capital LP as at September 30, 2025. Based on the average credit quality and duration metrics of the underlying holdings in each Fund’s portfolio on this date. Credit Risk (Avg. Credit Quality): Credit ratings are given by recognized, independent rating organizations like Moody’s, Standard & Poor’s and Fitch to gauge the relative level of default risk associated with a bond issuer. The higher the credit quality (rating), the lower the implied risk of default. Interest Rate Risk (Duration): The sensitivity of a bond to changes in interest rates is referred to as the bond’s duration. The higher the duration, the greater the potential decline in price when interest rates rise. Conversely, the higher the duration, the greater the potential increase in price when interest rates fall.
Guardian Capital’s Bond Fund Family
| FUND NAME | PORTFOLIO HOLDINGS | RISK RATING | SERIES | FUND CODE/TICKER | MGMT FEE |
| GuardBonds™ 1-3 Year Laddered Investment Grade Bond Fund | Fund-of-funds structure holding approximately equally weighted exposure to GuardBonds™ Funds maturing within 1-, 2- and 3-years | Low | A | GCG5107 | 0.70% |
| Low | F | GCG6107 | 0.20% | ||
| Low | ETF | GBLF | 0.20% | ||
| Guardian Canadian Bond Fund | Canadian government and investment grade corporate bonds with interest rate sensitivity closely aligned to broad Canadian bond market | Low | A | GCG554 | 0.80% |
| Low | F | GCG654 | 0.30% | ||
| Low | ETF | GCBD | 0.30% | ||
| Guardian Fixed Income Select Fund | Laddered exposure to Canadian government and investment grade corporate bonds | Low | A | GCG501A | 0.80% |
| Low | F | GCG601 | 0.30% | ||
| Guardian Investment Grade Corporate Bond Fund | Primarily Canadian mid-term investment grade corporate bonds | Low | A | GCG591 | 0.90% |
| Low | F | GCG694 | 0.40% | ||
| Low | ETF | GIGC | 0.40% | ||
| Guardian Short Duration Bond Fund | Primarily Canadian short duration investment grade bonds | Low | A | GCG503 | 0.80% |
| Low | F | GCG603 | 0.30% | ||
| Guardian Strategic Income Fund | Liquid alternative fixed income solution with an opportunistic and flexible approach to security selection across a broad investable universe | Low-to-Medium | A | GCG102 | 1.85% |
| Low-to-Medium | F | GCG602 | 0.85% | ||
| Low-to-Medium | ETF | GSIF | 0.85% | ||
| Guardian Ultra-Short Canadian T-Bill Fund | Canadian Federal and provincial T-Bills maturing primarily in three months or less | Low | A | GCG5101 | 0.37% |
| Low | F | GCG6101 | 0.12% | ||
| Low | ETF | GCTB | 0.12% | ||
| Guardian Ultra-Short U.S. T-Bill Fund | U.S. Federal T-Bills maturing primarily in three months or less | Low | A | GCG5102 | 0.37% |
| Low | F | GCG6102 | 0.12% | ||
| Low | ETF | GUTB.U | 0.12% |
*Fund Award Disclosures
| FIRM NAME | AWARD | RECOGNITION |
| Guardian Capital | Best Bond Fund Family Group | Trophy |
The Canada Group Award was based on risk-adjusted performance over 3 years for the following Guardian Capital Funds:
- GC One Fixed Income Portfolio (Series A)
- Guardian Investment Grade Corporate Bond Fund (Series F)
- Guardian Canadian Bond Fund (Series F)
- Guardian Short Duration Bond Fund (Series F)
- Sustainable Income 100 Fund (Series CCF)
Source: LSEG as at July 31, 2025.
* LSEG Classification uses CIFSC categories in Canada, rather than Lipper Global classifications. Canadian Investment Funds Standards Committee (CIFSC) is a Canadian independent organization that defines the categories of funds.
About the Lipper Methodology
rom LSEG Lipper Fund Awards © 2025 LSEG. All rights reserved. Used under license. The LSEG Lipper Fund Awards for Canada are granted annually and highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leaders Rating for Consistent Return, which is an objective, quantitative, risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award that year. LSEG Group is a leading global financial markets infrastructure and data provider. For more information please refer to their website at: www.lipperfundawards.com. Although LSEG Lipper makes reasonable efforts to ensure the accuracy and reliability of the data used to calculate the awards, their accuracy is not guaranteed.
Lipper Leaders Rating for Consistent Return
The Lipper Leaders Rating System includes Lipper Ratings for Consistent Return, which reflects a fund’s historical risk-adjusted returns relative to funds in the same classification, and takes into account both short- and long-term risk-adjusted performance, together with a measure of a fund’s consistency. The measure is based on the Lipper Effective Return computation. Effective Return is a risk-adjusted return measure that looks back over a variety of holding periods (measured in days, weeks, months, and/or years). The overall calculation is based on an equal-weighted average of percentile ranks of the Consistent Return metrics over three, five-, and ten-year periods (if applicable). The highest 20% of funds in each classification are named Lipper Leaders for Consistent Return, with a rating of 5, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2, and the lowest 20% are rated 1. Lipper Leaders Ratings are subject to change every month.
Lipper Asset Class Group Awards
Asset class group awards for Canada will be given to the best fund family group with at least three equity, bond or mixed-asset portfolios in the respective asset class. The highest average decile rank of the three years’ Lipper Leader for Consistent Return (Effective Return) measure of the eligible funds per asset class group will determine the award winner over the three-year period. In cases of identical results, the higher average percentile rank will determine the winner.
