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:
Category: Global Equity
Start Date: April 29, 2005
RRSP Admissibility: Yes, 100% eligible
Benchmark: MSCI World (Net Dividend) in Canadian dollar
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 September 30, 2024
Microsoft Corporation | 4.0% |
SPDR S&P 500 ETF Trust | 2.9% |
Aon PLC, Cl. A | 1.8% |
Accenture PLC, Cl. A | 1.7% |
Taiwan Semiconductor Manufacturing Company Limited Sponsored ADR | 1.7% |
Schneider Electric SE | 1.7% |
Alphabet Inc., Cl. A | 1.6% |
Visa Inc., Cl. A | 1.6% |
Charles Schwab Corporation | 1.6% |
Fiserv, Inc. | 1.3% |
Becton, Dickinson and Company | 1.3% |
Eaton Corporation PLC | 1.3% |
Apple Inc. | 1.3% |
NVIDIA Corporation | 1.3% |
Capgemini SE | 1.3% |
UBS Group AG Registered Shares | 1.2% |
Tencent Holdings Limited | 1.1% |
NatWest Group Plc | 1.1% |
Canadian Pacific Kansas City Limited | 1.1% |
Agilent Technologies, Inc. | 1.1% |
Johnson Controls International plc | 1.0% |
The Goldman Sachs Group, Inc. | 1.0% |
Masco Corporation | 1.0% |
HDFC Bank Limited Sponsored ADR | 1.0% |
Medtronic Plc | 0.9% |
Net asset value as at September 30, 2024 | 1 632 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 Global Equity Portfolio, Series A posted a net return of 9.7% for the first six months of 2024, versus 15.1% for 2023. The FDP Global Equity Portfolio, Series I posted a net return of 10.3% for the first six months of 2024.
The global stock market, as measured by the MSCI World Index, posted a 16.0% return in Canadian dollars for the first half of 2024. The Canadian dollar depreciated about 1.6% against the U.S. dollar, which had a positive impact on returns for Canadian investors holding U.S. dollar-denominated assets. The pause in key interest rate hikes in major global markets (and even slight cuts in some countries) coupled with the growing possibility of inflation stabilizing at reasonable levels (within central banks’ target ranges) helped growth stocks outperform value stocks over the first half of 2024, which continues to greatly benefit technology companies.
The U.S. stock market, as measured by the S&P 500 Index, posted a 19.6% return in Canadian dollars for the first half of 2024. As was the case for the MSCI World Index, S&P 500 growth-style stocks (especially those of the Magnificent Seven, the seven largest technology companies) contributed the most to gains during the first six months of 2024, continuing a trend from 2023. These seven stocks now account for 30% of the S&P 500 Index.
All eurozone markets (MSCI Europe) yielded returns of 9.8%, while Asian markets (MSCI AC Asia Pacific) gained 11.8% and emerging markets (iShares MSCI Emerging Markets ETF) gained 10.6% in Canadian dollars.
The Portfolio’s underperformance during the period was mainly due to its value-style holdings, which underperformed the MSCI World Index, while the Portfolio’s growth- style holdings generated a negative return that was in line with the index. Sector allocation helped returns while stock selection detracted from performance.