Fund Overview
This fund is designed for investors who …
- Seek capital preservation and steady income generation, as well as attractive long-term growth potential.
- Have a low to medium risk tolerance.
- Have a long-term investment horizon.
Investment Objectives
- Achieve a long-term global return through an appropriate stock selection and by taking advantage of interest rate and currency rate shifts on world markets.
- Invest primarily in debt instruments of foreign issuers that may be denominated in other currencies than the Canadian dollar and have different maturity dates. The issuers of securities may be established worldwide, including Canada and emerging countries.
Fund Facts are published once a year. Read them now.
Summary
Volatility:
Category: Fixed Income
Start Date: January 25, 2013
RRSP Admissibility: Yes, 100% eligible
Benchmark:
- 60% Bloomberg Barclays Global Aggregate (hedged to the Canadian dollar)
- 20% ICE BofA Global High Yield (hedged to the Canadian dollar)
- 20% ICE BofA Global High Yield (unhedged to the Canadian dollar)
Assets*: $198,702,146
Number of Securities: 669
Target Asset Mix:
- Short term: 0%
- Global and Canadian government and corporate bonds: 100%
*As at April 30, 2024
Portfolio Management
Managers
- Amundi Canada inc.,Victory Capital Management Inc., Manulife Investment Management Limited (US, Europe) et Manulife Investment Management Limited (Hong Kong), 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
| iShares 0-5 Year Investment Grade Corporate Bond ETF | 13.7% |
| iShares iBoxx $ Investment Grade Corporate Bond ETF | 5.9% |
| Canadian Dollars | 2.4% |
| U.S. Dollar | 1.3% |
| United States Treasury Notes 2.75% 15-AUG-2032 | 0.8% |
| iShares Broad USD High Yield Corporate Bond ETF | 0.7% |
| United States Treasury Notes 3.5% 15-FEB-2033 | 0.6% |
| Total Play Telecomunicaciones SA de CV 11.125% 31-DEC-2032 | 0.5% |
| Government of Brazil 10.0% 01-JAN-2027 | 0.5% |
| Abra Global Finance 14.0% 22-OCT-2029 | 0.5% |
| Avianca Midco 2 Plc 9.0% 01-DEC-2028 | 0.5% |
| Grupo Aeromexico, S.A.B. de C.V. 8.625% 15-NOV-2031 | 0.4% |
| New Zealand 3.5% 14-APR-2033 | 0.4% |
| CoreWeave, Inc. 9.0% 01-FEB-2031 | 0.4% |
| Energean Plc 6.5% 30-APR-2027 | 0.4% |
| Grupo Posadas, S.A.B. de C.V. 7.0% 30-DEC-2027 | 0.4% |
| Japan 0.005% 01-DEC-2025 | 0.4% |
| New Zealand 4.25% 15-MAY-2034 | 0.4% |
| Government of Czech Republic 3.5% 30-MAY-2035 | 0.4% |
| Ford Motor Co. 3.25% 12-FEB-2032 | 0.4% |
| Government of Indonesia 6.375% 15-APR-2032 | 0.4% |
| HCA Inc. 3.5% 01-SEP-2030 | 0.4% |
| CaixaBank, S.A. 3.625% PERP | 0.4% |
| Sirius XM Radio LLC 4.125% 01-JUL-2030 | 0.3% |
| US Acute Care Solutions, LLC. 9.75% 15-MAY-2029 | 0.3% |
| Net asset value as at September 30, 2025 | 271 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 Fixed Income Portfolio, Series A posted a net return of 1.6% for the first six months of 2025, versus 6.1% for 2024. The FDP Global Fixed Income Portfolio, Series I posted a net return of 2.2% for the same period.
The Portfolio’s benchmark index generated a 2.1% return for the first six months of 2025. The portion invested in the global high-yield bond market, as measured by the ICE BofAML Global High Yield Index (currency hedged), was particularly beneficial for the index, posting a 3.5% return for the period. This asset class continued to support the Portfolio’s performance in the first half of 2025. Despite credit spreads widening slightly in March and April following the U.S. government’s tariff announcements, global high-yield bond yields remained attractive, backed by solid fundamentals and strong investor demand.
While still cautious, central banks across several regions cut interest rates, boosting interest in fixed-income securities. High-yield bonds thus benefited from a supportive environment characterized by high earnings, a stable economy and no signs of a sharp downturn in economic activity.
The Portfolio is overweight to high-yield corporate bonds and benefited from narrowing credit spreads. However, with spreads at historically low levels, the portfolio manager continued to increased the quality of the Portfolio’s corporate bond holdings in the past months in order to gradually reduce credit risk.
