Fund Overview
This fund is designed for investors who…
- Want to diversify part of their portfolio geographically.
- Have a long-term investment horizon and are capital growth-oriented
- Have a medium risk tolerance.
Investment Objectives
- Achieve medium- and long-term capital growth through investment diversification.
- Invest primarily in equity securities of issuers listed on a stock exchange and located in emerging countries or having commercial interests in such countries.
Fund Facts are published once a year. Read them now.
Summary
Volatility:
Average / High Category: Emerging Markets International Equity Fund
Start Date: April 8, 2008
RRSP Admissibility: Yes, 100% eligible
Benchmark: ETF ishare MSCI Emerging Markets in Canadian dollar
Assets*: $143,926,480
Number of Securities: 11
Target Asset Mix:
- Emerging markets equity: 100%
- Short term: 0%
*As at April 30, 2024
Portfolio Management
Managers
- 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
| iShares Core MSCI Emerging Markets ETF | 57.2% |
| iShares MSCI Emerging Markets ETF | 13.3% |
| Franklin FTSE China ETF | 6.6% |
| iShares MSCI Emerging Markets ex China ETF | 6.3% |
| Franklin FTSE India ETF | 5.3% |
| iShares MSCI South Korea ETF | 2.4% |
| Franklin FTSE Brazil ETF | 2.2% |
| iShares MSCI Taiwan ETF | 2.1% |
| Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR | 1.6% |
| iShares MSCI Brazil ETF | 1.4% |
| iShares MSCI India ETF | 0.9% |
| Canadian dollar | 0.6% |
| U.S. dollar | 0.1% |
| Net asset value as at September 30, 2024 | 175 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 Emerging Markets Equity Portfolio, Series A posted a net return of 8.8% for the first six months of 2024, versus 4.5% for 2023. The FDP Emerging Markets Equity Portfolio, Series I posted a net return of 9.5% for the first six months of 2024. The emerging stock markets, as measured by the iShares MSCI Emerging Markets ETF, posted a 10.6% return in Canadian dollars for the first six months of 2024.
The FDP Emerging Markets Equity Portfolio maintains significant exposure to MSCI Emerging Markets stocks and adds relative value through exchange-traded fund (ETF) investments. For the first six months of 2024, the Portfolio underperformed its benchmark index, primarily due to its overweight to Mexico and Brazil. However, the overweight to India and the inclusion of Taiwan Semiconductor Manufacturing Co. (TSMC) ADRs (American depositary receipts) offset some of the losses from the Mexico and Brazil holdings. Elections in Mexico and fiscal negotiations in Brazil caused market volatility.
In the short term, the strong demand for technology components from companies involved in AI development continues to benefit TSMC’s stock and Taiwan’s market more broadly given the significant weight of TSMC in this market.
