Fund Overview
This fund is designed for investors who …
- Have a more aggressive participant profile with a long-term investment horizon.
- Have a low to medium tolerance to risk.
Investment Objectives
- Achieve a return comprised mostly of long-term capital growth and also of a steady income.
- Invest primarily in equity securities of Canadian and foreign issuers and in debt instruments of Canadian and foreign issuers.
Fund Facts are published once a year. Read them now.
Summary
Volatility
Category: Canadian Income Balanced
Start Date: April 30, 2001
RRSP Admissibility: Yes, 100% eligible
Benchmark:
- 40% MSCI World in Canadian dollar
- 30% FTSE TMX Universe
- 25% S&P/TSX Composite
- 5% FTSE Canada 91 Day T-Bill
Assets*: $305,555,518
Number of Securities: 25
Target Asset Mix:
- International Equities: 26.8%
- Bond & Fixed Income : 19.3%
- Canadian Equities: 20.2%
- American Equities: 31.5%
- Cash & Equiv.: 2.2%
*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, 2025
| FDP Global Equity Portfolio A | 20.3% |
| FDP Canadian Equity Portfolio A | 15.3% |
| iShares Core MSCI EAFE ETF | 13.6% |
| SPDR S&P 500 ETF Trust | 10.3% |
| FDP Emerging Market Equity Portfolio A | 5.3% |
| FDP Canadian Bond Portfolio A | 5.3% |
| Invesco QQQ Trust Series I | 5.1% |
| Canada Treasury Bonds 3.5% 01-SEP-2029 | 4.2% |
| iShares S&P/TSX 60 Index ETF | 3.8% |
| iShares Core Canadian Short Term Corporate Bond Index ETF Trust Units | 3.6% |
| Invesco S&P 500 Equal Weight ETF | 3.2% |
| Vanguard Total International Bond ETF | 2.0% |
| iShares Core S&P/TSX Capped Composite Index ETF | 1.9% |
| FDP Global Fixed Income Portfolio A | 1.9% |
| Government of Canada 0.0% 08-OCT-2025 | 1.2% |
| City of Rimouski 0.9% 29-OCT-2025 | 0.9% |
| Canadian Dollars | 0.6% |
| City of Saint-Jerome 10/25 1.1 | 0.5% |
| City of Mascouche 1.25% 08-OCT-2025 | 0.4% |
| City of Coaticook 0.9% 03-NOV-2025 | 0.4% |
| U.S. Dollar | 0.1% |
| Vanguard Growth ETF | 0.0% |
| BMO MSCI EAFE Index ETF | 0.0% |
| iShares NASDAQ 100 Index ETF (CAD-Hedged) | 0.0% |
| BMO Nasdaq 100 Equity Index ETF | 0.0% |
| Net asset value as at September 30, 2025 | 416M $ |
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 Balanced Growth Portfolio, Series A posted a net return of 4.0% for the first six months of 2025, versus 16.9% for 2024.
The bond market, as measured by the FTSE Canada Universe Bond Index, posted a 1.4% return for the period. This performance was chiefly attributable to the further normalization of the yield curve, as expectations of key interest rate cuts were tempered by economic data that proved more resilient than anticipated. However, stable credit spreads and attractive yields to maturity helped mitigate the adverse impacts on overall bond performance.
The Bank of Canada continued the monetary easing cycle initiated in late 2024 with two further rate cuts in January and March 2025, bringing the key interest rate to 2.75% in June. Markets welcomed these cuts as inflation remained firmly within the central bank’s target range. The Canadian stock market, as measured by the S&P/ TSX Composite Index, posted a 10.2% return over the first half of 2025. These results were driven by strong performance in Materials, Consumer Discretionary and Financials against a backdrop of more favourable interest rates and uncertainty stemming from trade tensions.
In the United States, the Federal Reserve (Fed) kept its key interest rate within the 4.25–4.50% range throughout the first half of the year. Although the market eagerly awaited a first rate cut in 2025, the Fed maintained a cautious stance since inflation was still slightly above its target and the economy remained robust early in the new president’s term. The U.S. stock market, as measured by the S&P 500 Index, posted a modest return of 0.8% in Canadian dollars for the first half of 2025. Unlike in 2023 and 2024, large-cap technology stocks lost momentum relative to the rest of the market. The “Magnificent 7” group of the largest U.S. technology companies, which dominated the market over the past few years, saw their relative performance decline, allowing other cyclical and defensive sectors to shine.
The global stock market, as measured by the MSCI World Index, posted a moderate return of 3.9% in Canadian dollars for the first half of 2025. This performance was aided by falling interest rates in a number of large economies and by inflation that was mostly contained but remained under close watch. The Canadian dollar slightly appreciated against the U.S. dollar, which adversely affected returns for Canadian investors holding U.S. dollar-denominated assets.
Unlike in 2023 and 2024, value stocks outperformed their growth counterparts in the first half of 2025. This market rotation is mainly due to waning investor enthusiasm for large-cap technology stocks, combined with the revaluation of cyclical and defensive sectors such as Energy, Financials and Consumer Staples.
Eurozone and Asia-Pacific stock markets also generated positive returns, reflecting the economic recovery underway in both regions despite persistent geopolitical tensions.
