Fund Overview
The Fund is designed for investors who…
- Seek steady income, as well as attractive medium-term growth potential.
- Have a low to medium risk tolerance and a medium-term investment horizon.
Investment Objectives
- Achieve, through investment diversification, a yield comprised mostly of steady income and also medium-term capital growth.
- Invest primarily in debt instruments of Canadian and foreign issuers and in equity securities of Canadian and foreign issuers.
Fund Facts are published once a year. Read them now.
Summary
Volatility:
Category: Canadian Fixed Income Balanced
Start Date: October 28, 2010
RRSP Admissibility: Yes, 100% eligible
Benchmark:
- 64% FTSE TMX Universe
- 25% S&P/TSX Composite
- 10% MSCI World in Canadian dollar
- 1% FTSE Canada 91 Day T-Bill
Assets*: $124,999,640
Number of Securities: 7
Target Asset Mix:
- Bonds & Fixed Income : 67.9%
- International Equities: 6.4%
- Canadian Equities: 11.6%
- American Equities: 12.1%
- Cash & Equiv.: 2.0%
*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 Canadian Bond Portfolio A | 51.7% |
| FDP Global Equity Portfolio A | 17.6% |
| FDP Canadian Dividend Equity Portfolio A | 15.3% |
| FDP Global Fixed Income Portfolio A | 13.0% |
| iShares MSCI ACWI ex U.S. ETF | 1.8% |
| Canadian Dollars | 0.5% |
| U.S Dollar | 0.0% |
| Net asset value as at September 30, 2025 | 128 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 Balanced Income Portfolio, Series A posted a net return of 2.1% for the first
six months of 2025, versus 7.8% 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 Dividend Index, posted a 10.4% return over the first six months of 2025, outperforming the S&P/TSX Composite Index (10.2% return over the same period).
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. 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.
