The fund actively invests in government and corporate debt issued by Canadian institutions. A wide variety of securities may be included, as long as they have more than one year to maturity. The fund may hold up to 30% in foreign securities and up to 25% in non-investment grade securities, given that the issuers of these securities have a credit rating of A- or higher. Portfolio maturities are adjusted to take advantage of different stages in the economic cycle. Macroeconomic factors, such as economic growth, inflation, and monetary and fiscal policy are analyzed by the advisor to position the maturity and credit quality of MKBs portfolio for different stages in the economic cycle.