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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*: $185,334,690
Number of Securities: 14
Target Asset Mix:

  • International Equities: 22.7%
  • Bond & Fixed Income Sec.: 23.4%
  • Canadian Equities: 22.5%
  • American Equities: 30 %
  • Cash & Equiv.: 1.5%

*As at May 22, 2020

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, 2020

FDP Global Equity Portfolio23.70%
FDP Canadian Equity Portfolio15.70%
FDP Canadian Bond Portfolio12.30%
SPDR S&P 500 ETF Trust12.00%
iShares Core MSCI EAFE ETF9.00%
Cash and Cash Equivalent6.20%
Government of Canada, 2.25%, Jun. 01, 20295.50%
iShares S&P/TSX 60 Index ETF4.30%
FDP Global Fixed Income Portfolio3.60%
Invesco QQQ Trust Series 13.10%
iShares Core MSCI Emerging Markets ETF2.50%
iShares J.P. Morgan USD Emerging Markets Bond ETF1.10%
FDP Emerging Markets Equity Portfolio0.90%
Net asset value as at March 31, 2020
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 Annual Management Report of Portfolio Performance (Operating Results), as at December 31, 2019.

The FDP Balanced Growth Portfolio posted a net return of 16.2% for 2019, versus -2.5% for 2018. Unlike in 2018, all asset classes drove the positive portfolio performance in 2019.

  • The bond market, as measured by the FTSE Canada Universe Bond Index, posted a 6.9% return.
  • The 10-year government of Canada bond yield declined by 26 basis points in 2019, causing the spread between long- and short-term yields to narrow significantly.

This decline was triggered by the global economic growth slowing down that compelled major central banks, including the U.S. Federal Reserve (Fed) and European Central Bank (ECB) to change their stance and return to a more accommodative monetary policy. The Fed cut its key interest rate three times in 2019. Meanwhile, the Bank of Canada held steady, and provincial and corporate bond credit spreads tightened.

  • The Canadian stock market, as measured by the S&P/TSX Composite Index, posted a 22.9% return for 2019, with 10 of the 11 sectors within the index yielding positive returns.
  • Unlike in 2018, rising oil prices, which went from USD45.41 a barrel in late December 2018 to USD61.06 as at December 31, 2019, representing a 34.4% increase, enabled the Energy sector to post a 21.7% return over the year.
  • Information Technology (64.1%), Utilities (37.4%) and Industrials (25.5%) all contributed significantly to the index’s performance. Health Care was the only sector to post negative returns on the back of cannabis stocks declining.
  • Supported by positive economic growth, an economy at full employment and the Fed’s shift in rhetoric, the U.S. stock market, as measured by the S&P 500 Index, posted a net return of 24.8% in Canadian dollars.
Despite the slowdown in the manufacturing sector in Germany and Japan, eurozone and Asian markets yielded positive returns of 17.5% and 13.3%, respectively, in Canadian dollars.

Central banks are adopting more accommodative monetary policies in reaction to trade tensions, the global economic growth slowdown and a moderate inflation rate, which will likely benefit stock markets.

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