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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.



Low / Average

Category: Canadian Income Balanced
Start Date: April 30, 2001
RRSP Admissibility: Yes, 100% eligible


  • 25% S&P/TSX Composite Index
  • 40% MSCI World (in CA$)
  • 30% DEX short term/mid-term
  • 5% 91-day Treasury Bonds

Assets*: $ 171,033,032
Number of Securities: 18
Bond Duration: 5.04 years

Target Asset Mix:

  • Canadian Equity – large cap: 25%
  • Foreign Equity: 40%
  • Bonds: 30%
  • Short Term: 5%

*As at May 24, 2019

Portfolio Management


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 March 31, 2019

FDP Global Equity Portfolio 25.40%
FDP Canadian Equity Portfolio 14.60%
FDP Canadian Bond Portfolio 12.20%
SPDR S&P 500 ETF Trust 11.20%
iShares S&P/TSX 60 Index ETF 8.10%
iShares Core MSCI EAFE ETF 6.60%
Cash and Cash Equivalent 5.60%
FDP Global Fixed Income Portfolio 4.00%
iShares Core MSCI Emerging Markets ETF JDR 3.50%
Invesco QQQ Trust Series 1 2.90%
The Bank of Nova Scotia 2.27% Jan. 13, 2020 2.40%
iShares J.P. Morgan USD Emerging Markets Bond ETF 1.30%
FDP Emerging Markets Equity Portfolio 1.10%
iShares China Large-Cap ETF 1.10%
Net asset value as at May 24, 2019
171 M $


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 Management Report of Fund Performance (Operating Results), December 2018.

The FDP Balanced Growth Portfolio posted a net return of -2.5% for 2018, versus 8.6% for 2017.

This result stems partly from global stock market returns, in Canadian dollars, specifically in the Canadian (-8.9%), European (-7.2%) and Asian (-5.7%) equity components.

  • Meanwhile, the Canadian dollar lost 8.3% versus its U.S. counterpart.
  • The bond market, as measured by the FTSE Universe Index, posted a 1.4% return.
  • Due in part to a potential slowdown in global economic growth, the 10-year government of Canada bond yield declined by 10 basis points in 2018, mainly in the last few months of the year.

Canada’s overnight rate increases boosted bond yields, mostly on the yield curve’s short-term segment, causing the Canadian bond yield curve to flatten, thereby considerably tightening the spread between long- and short-term yields. Moreover, credit spreads between corporate and government bonds widened in 2018.

  • The Canadian stock market, as measured by the S&P/TSX Composite Index, posted a -8.9% return for 2018. Eight of the index’s eleven component sectors posted negative returns.
  • Oil prices fell by 24.8%, from 60.42US$ at the end of December 2017 to 45.41US$ at December 31, 2018. This price drop had a significant impact on the energy sector, which makes up over 18% of the Canadian index.
  • The U.S. stock market, as measured by the S&P 500 Index, posted a net return of 4.2% in Canadian dollars.

Despite a steadily growing U.S. economy at full employment, the repercussions of the tightening of monetary policy by the U.S. Federal Reserve, a looming trade war with China and a potential slowdown in global economic growth drove widespread uncertainty on the markets.

A moderate inflation rate would however allow many central banks to maintain an accommodating monetary policy.

Despite the positive growth of the global economy, markets across emerging countries struggled due to the resurgence of volatility after posting excellent returns in 2017.

Threats of a trade war with China, the unique political climate in certain emerging countries, as well as tightening monetary policies in the U.S. and the U.K., among other nations, had more negative repercussions on emerging markets than their developed counterparts.

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