Fund Overview
This fund is designed for investors who …
- Seek capital growth over the long term in a diversified portfolio of Canadian issuers.
- Have a medium to high risk tolerance.
- Have a long-term horizon and expect some performance volatility associated with equity securities.
Investment Objectives
- Achieve long-term capital growth through investment diversification.
- Invest primarily in equity securities of mostly large capitalization Canadian issuers, but also of small or medium capitalization Canadian issuers.
- Invest in equity securities of foreign issuers and in debt instruments of Canadian and foreign issuers.
Fund Facts are published once a year. Read them now.
Summary
Volatility:
Average Category: Canadian Equity (Pure)
Start Date: December 31, 1987
RRSP Admissibility: Yes, 100% eligible
Benchmark: S&P/TSX Toronto Stock Exchange Index
Assets*: $480,399,925
Number of Securities: 115
Target Asset Mix
- Canadian Equity: 100%
- Foreign Equity: 0%
- Short Term: 0%
*As at April 30, 2024
Portfolio Management
Managers
- Fidelity Investments Canada ULC, Desjardins Gestion internationale d’actifs inc. (DGIA) and Manulife Investment Management Limited., 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
| Royal Bank of Canada | 6.1% |
| Canadian Natural Resources Limited | 5.7% |
| Constellation Software Inc. | 5.0% |
| Canadian Pacific Kansas City Limited | 4.1% |
| Bank of Montreal | 3.6% |
| Shopify Inc., Cl. A | 3.4% |
| Waste Connections, Inc. | 3.0% |
| National Bank of Canada | 2.7% |
| Fairfax Financial Holdings Limited | 2.5% |
| Canadian National Railway Company | 2.4% |
| WSP Global Inc. | 2.4% |
| Franco-Nevada Corporation | 2.4% |
| Brookfield Asset Management Ltd., Cl. A | 2.0% |
| Restaurant Brands International Inc. | 2.0% |
| The Toronto-Dominion Bank | 2.0% |
| Intact Financial Corporation | 1.9% |
| Wheaton Precious Metals Corp. | 1.9% |
| Thomson Reuters Corporation | 1.9% |
| SNC-Lavalin Group Inc., Cl. A | 1.9% |
| Cash and Cash Equivalents | 1.9% |
| Agnico Eagle Mines Limited | 1.8% |
| Canadian Imperial Bank of Commerce | 1.8% |
| Alimentation Couche-Tard Inc. | 1.7% |
| FirstService Corporation | 1.7% |
| TFI International Inc. | 1.7% |
| Net asset value as at March 31, 2024 | 494 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 Canadian Equity Portfolio, Series A posted a net return of 9.4% for 2023, versus -8.8% for 2022. The FDP Canadian Equity Portfolio, Series I posted a net return of 10.6% for 2023.
Rate hikes weighed heavily on Canadian markets, but the unexpectedly resilient Canadian economy drove investors’ optimism. The Canadian stock market, as measured by the S&P/TSX Composite Index, posted an 11.8% return for 2023, led by technology stocks such as Shopify and Constellation Software.
WTI oil prices fell from US$80.26 as at December 31, 2022, to US$71.33 as at December 31, 2023. The slight underweight to the Energy sector somewhat helped performance in 2023, as did the overweight to the Information Technology sector.
