Stock price when the opinion was issued
Someday this will probably be a good investment but this is not the time. The 10 year bond should be at around 5% and will get there eventually. Then there is the question of short-term interest rates, something that the central bank can control even more. We have a long time to go before they start jacking up short-term interest rates.
Although it’s called “floating-rate”, it is not much of a floating-rate fund. Most of the bonds in it are not floating-rate because there aren’t many floating-rate bonds that are worth buying right now because they all earn about zero percent. This one earns about 1.3% per annum and that is probably what it is going to earn henceforth. 80% of the fund is in 2 to 5 year fixed rate bonds. Very low MER. Better than cash and very safe.