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*: $1,369,877,437
Number of Securities: 165
Target Asset Mix:
- Emerging Markets Equity: 0%
- Global Equity: 100%
- Short Term: 0%
*As at April 30, 2023
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, 2023
| SPDR S&P 500 ETF Trust | 6.6% |
| iShares Core MSCI EAFE ETF | 3.6% |
| Microsoft Corporation | 3.5% |
| Alphabet Inc., Cl. A | 2.8% |
| Aon PLC, Cl. A | 1.9% |
| Accenture PLC, Cl. A | 1.8% |
| Cash and Cash Equivalents | 1.7% |
| Visa Inc. Class A | 1.5% |
| Eaton Corporation PLC | 1.5% |
| Schneider Electric SE | 1.4% |
| Taiwan Semiconductor Manufacturing Company Limited Sponsored ADR | 1.4% |
| Icon Public Limited Company | 1.3% |
| The Charles Schwab Corporation | 1.3% |
| UBS Group AG Registered Shares | 1.2% |
| Canadian Pacific Kansas City Limited | 1.1% |
| Apple Inc. | 1.1% |
| Becton, Dickinson and Company | 1.1% |
| Comcast Corporation, Cl. A | 1.1% |
| Aptiv PLC | 1.0% |
| Fiserv, Inc. | 1.0% |
| Analog Devices, Inc. | 1.0% |
| Diageo PLC | 1.0% |
| Boston Scientific Corporation Fiserv, Inc. | 0.9% |
| CGI Inc. | 0.9% |
| Tencent Holdings Limited | 0.9% |
| Net asset value as at September 30, 2023 | 1 378 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, 2022.
The FDP Global Equity Portfolio, Series A posted a net return of -9.5% for 2022, versus 16.8% for 2021. The FDP Global Equity Portfolio, Series I posted a net return of 8.5% for 2022.
The global stock market, as measured by the MSCI World Index, posted a net return of -12.2% in Canadian dollars for 2022. In turn, the Canadian dollar, like many other global currencies, weakened by 6.8% relative to the U.S. dollar, which bolstered returns for Canadian investors. Value-style securities, helped in part by the Energy sector performance, substantially outperformed their growth-style counterparts, with each posting a -0.3% and -24.1% return, respectively.
The U.S. stock market, as measured by the S&P 500 Index, posted a net return of -12.2% in Canadian dollars for 2022. Moreover, value-style securities substantially outperformed their growth-style counterparts during the period, with each posting a 1.7% and -24.3% return, respectively.
Asian markets returned -11.2% (MSCI AC Asia Pacific Index), while emerging markets (MSCI Emerging Markets Index (CAD)) fell by 14.3% in Canadian dollars.
The portfolio manager’s shrewd stock selection added 402 basis points relative to the benchmark. The lack of holdings or underweight to certain Information Technology companies such as Apple, NVIDIA and Shopify added 196 basis points within the sector. Stock selection within Consumer Discretionary also generated 176 basis points relative to the benchmark, chiefly due to a lack of positions in Amazon. com and Tesla. Conversely, the underweight to Energy lowered relative returns by 128 bps. The portfolio manager reduced the allocation to more defensive securities in light of their relative outperformance and invested instead in companies with higher growth outlook.
