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 Composite
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 September 30, 2024
| Royal Bank of Canada | 7.8% |
| Constellation Software Inc. | 5.1% |
| Canadian Natural Resources Limited | 4.3% |
| Brookfield Corporation | 4.1% |
| Canadian Pacific Kansas City Limited | 3.9% |
| Shopify, Inc. Class A | 3.8% |
| Canadian Imperial Bank of Commerce | 3.4% |
| Agnico Eagle Mines Limited | 3.2% |
| Fairfax Financial Holdings Limited | 2.8% |
| Toronto-Dominion Bank | 2.8% |
| Waste Connections, Inc. | 2.7% |
| Dollarama Inc. | 2.5% |
| Pembina Pipeline Corporation | 2.2% |
| Intact Financial Corporation | 2.0% |
| Thomson Reuters Corporation | 1.9% |
| Alimentation Couche-Tard Inc. | 1.9% |
| Teck Resources Limited Class B | 1.9% |
| Manulife Financial Corporation | 1.8% |
| Wheaton Precious Metals Corp | 1.7% |
| TC Energy Corporation | 1.7% |
| National Bank of Canada | 1.6% |
| Suncor Energy Inc. | 1.6% |
| Imperial Oil Limited | 1.5% |
| FirstService Corp | 1.5% |
| Enbridge Inc. | 1.5% |
| Net asset value as at September 30, 2024 | 520 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 FDP Canadian Equity Portfolio, Series A posted a net return of 6.6% for the first six months of 2024, versus 9.4% for 2023. The FDP Canadian Equity Portfolio, Series I posted a net return of 7.2% for the first six months of 2024.
The modest key interest rate reduction in early June 2024 (the first since the start of the COVID-19 pandemic in March 2020) was well received in the country and bolstered Canadian stock markets. The economy remains resilient and investors are optimistic. The Canadian stock market, as measured by the S&P/TSX Composite Index, posted a 6.1% return over the first six months of 2024, driven by the Energy and Materials sectors.
WTI oil prices rose from US$71.33 as at December 31, 2023 to US$82.83 as at June 30, 2024. On a relative basis and gross of management fees, the FDP Canadian Equity Portfolio outperformed its benchmark index chiefly due to shrewd stock selection in the Energy, Financial Services and Information Technology sectors as well as an underweight to the Communications sector.
