For its outstanding performance…
Winner of a FundGrade A+® Award in 2023 at Fundata’s from Fundata Canada inc., for the third time, in the Global Equity category.
Fund Overview
This fund is designed for investors who…
- Want to invest in foreign markets.
- Prefer a unified global approach to investment in global equities rather than establishing separate strategies for the United States, Europe and Asia.
Investment Objectives
- Achieve long-term capital growth through investment diversification.
- Invest primarily in equity securities of issuers worldwide, including Canada and emerging markets.
Fund Facts are published once a year. Read them now.
Summary
Volatility:
Average Category: Global Equity
Start Date: April 29, 2005
RRSP Admissibility: Yes, 100% eligible
Benchmark: MSCI World in Canadian dollars
Assets*: $1,500,645,293
Number of Securities: 170
Target Asset Mix:
- Emerging Markets Equity: 0%
- Global Equity: 100%
- Short Term: 0%
*As at April 30, 2024
Portfolio Management
Managers
- MFS Investment Management Canada Inc., Professionals’ Financial – Mutual Funds Inc.
The Funds’ Investment Policies are developed by the Fund Manager’s Investment Committee, which meets regularly to make any necessary changes. The Committee includes both internal and external investment experts, as well as representatives of professional association shareholders.
Main Securities as at March 31, 2024
| Microsoft Corporation | 4.2% |
| SPDR S&P 500 ETF Trust | 4.0% |
| Cash and Cash Equivalents | 2.1% |
| Taiwan Semiconductor Manufacturing Company Limited Sponsored ADR | 1.9% |
| Alphabet Inc., Cl. A | 1.9% |
| Aon PLC, Cl. A | 1.9% |
| Schneider Electric SE | 1.7% |
| Visa Inc., Cl. A | 1.6% |
| Accenture PLC, Cl. A | 1.6% |
| The Charles Schwab Corporation | 1.5% |
| Eaton Corporation PLC | 1.5% |
| UBS Group AG Registered Shares | 1.3% |
| Fiserv, Inc. | 1.3% |
| Becton, Dickinson and Company | 1.2% |
| Canadian Pacific Kansas City Limited | 1.2% |
| Icon Public Limited Company | 1.2% |
| Tencent Holdings Limited | 1.2% |
| JPMorgan Chase & Co. | 1.1% |
| The Goldman Sachs Group, Inc. | 1.1% |
| Amphenol Corporation, Cl. A | 1.0% |
| Agilent Technologies, Inc. | 1.0% |
| NVIDIA Corporation | 1.0% |
| Apple Inc. | 1.0% |
| iShares Core MSCI EAFE ETF | 1.0% |
| Analog Devices, Inc. | 1.0% |
| Net asset value as at March 31, 2024 | 1 538 M $ |
Returns
Returns *
* Returns for the first and last year are not annualized
* Non annualized return
$1,000 Invested Amount since inception
Note that the results shown are for information purposes only. Commissions, trailing commissions, management fees and expenses all may be associated with investments ins FDP Portfolio’s. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns, including changes in portfolio value and reinvestment of all distributions, but do not take into account sales, redemption, distribution or optional charges or income taxes payable by an investor that would have reduced returns. References to indices are for information purposes only. Comparisons with indices may vary according to the portfolio size, investment timing, and mandate objective. The funds’ securities are not insured by the Canada Deposit Insurance Corporation. Mutual funds are not guaranteed, their value changes frequently, and past performance may not be repeated.
Managers' Comments
The Managers’ Comments are taken from the Annual Management Report of Portfolio Performance (Operating Results), as at December 31, 2023.
The FDP Global Equity Portfolio, Series A posted a net return of 15.1% for 2023, versus -9.5% for 2022. The FDP Global Equity Portfolio, Series I posted a net return of 16.5% for 2023.
The global stock market, as measured by the MSCI World Index, posted a 20.5% return in Canadian dollars for 2023, which offset most of the losses suffered in 2022. The Canadian dollar appreciated about 2.1% against the U.S. dollar, which impeded returns for Canadian investors. Slower key interest rate increases and the increased likelihood that inflation will ease while the economy achieves a soft landing caused growth-style equities to outperform their value-style counterparts. These conditions especially favoured Information Technology companies.
The U.S. stock market, as measured by the S&P 500 Index, posted a net return of 22.9% in Canadian dollars in 2023. As was the case in the MSCI World Index, growth-style stocks (especially those of the Magnificent Seven, the seven largest U.S. technology companies) contributed the most to performance during the year.
All eurozone markets (MSCI Europe) yielded negative returns of 17.4%, while Asian markets (MSCI AC Asia Pacific) gained 8.1% and emerging markets (iShares MSCI Emerging Markets ETF) 5.6% in Canadian dollars.
The portfolio’s underperformance during the year was mainly due to its value-style holdings, which underperformed the MSCI World Index by 658 basis points (bps) while the portfolio’s growth-style holdings underperformed the index by 160 bps.
