Fund Overview
This fund is designed for investors who …
- Seek capital growth over the long term in a diversified portfolio of Canadian issuers.
- Have a medium to high risk tolerance.
- Have a long-term horizon and expect some performance volatility associated with equity securities.
Investment Objectives
- Achieve long-term capital growth through investment diversification.
- Invest primarily in equity securities of mostly large capitalization Canadian issuers, but also of small or medium capitalization Canadian issuers.
- Invest in equity securities of 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 Equity (Pure)
Start Date: December 31, 1987
RRSP Admissibility: Yes, 100% eligible
Benchmark: S&P/TSX Composite
Assets*: $480,399,925
Number of Securities: 115
Target Asset Mix
- Canadian Equity: 100%
- Foreign Equity: 0%
- Short Term: 0%
*As at April 30, 2024
Portfolio Management
Managers
- Fidelity Investments Canada ULC, Desjardins Gestion internationale d’actifs inc. (DGIA), 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
| Royal Bank of Canada | 7.1% |
| Shopify, Inc. Class A | 5.8% |
| Agnico Eagle Mines Ltd. | 5.0% |
| Toronto-Dominion Bank | 4.8% |
| Enbridge Inc. | 4.5% |
| Brookfield Corporation | 4.0% |
| Bank of Montreal | 3.5% |
| Canadian Pacific Kansas City Ltd. | 3.0% |
| Canadian Imperial Bank of Commerce | 3.0% |
| Canadian Natural Resources Ltd. | 2.7% |
| Alimentation Couche-Tard Inc. | 2.1% |
| Fairfax Financial Holdings Ltd. | 2.1% |
| Constellation Software Inc. | 2.0% |
| Cenovus Energy Inc. | 1.9% |
| Franco-Nevada Corporation | 1.8% |
| Barrick Mining Corporation | 1.8% |
| Cameco Corporation | 1.8% |
| Canadian Dollars | 1.7% |
| Wheaton Precious Metals Corp | 1.7% |
| Bank of Nova Scotia | 1.6% |
| Kinross Gold Corporation | 1.6% |
| Suncor Energy Inc. | 1.6% |
| Dollarama Inc. | 1.6% |
| TC Energy Corporation | 1.5% |
| RB Global, Inc. | 1.2% |
| Net asset value as at September 30, 2025 | 617 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 Canadian Equity Portfolio, Series A posted a net return of 7.9% for the first six months of 2025, versus 20.7% for 2024. The FDP Canadian Equity Portfolio, Series I posted a net return of 8.5% for the first six months of 2025.
The Bank of Canada (BoC) 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 given that 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. The underweight to Materials and stock selection in Industrials and Energy weighed on the Portfolio’s relative performance for the first six months of 2025. Conversely, stock selection in the Information Technology sector proved favourable.
