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For its outstanding performance…

Winner of a FundGrade A+® Award in 2019 at Fundata’s annual Evening of Excellence, in the in the Canadian Fixed Income Balanced funds category, competing against 355 other funds.

Fund Overview

The Fund is designed for investors who…

  • Seek steady income, as well as attractive medium-term growth potential.
  • Have a low 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.




Category: Canadian Fixed Income Balanced
Start Date: October 28, 2010
RRSP Admissibility: Yes, 100% eligible


  • 25% S&P/TSX Composite Index
  • 10% MSCI World (in CA$)
  • 64% DEX short term/mid-term
  • 1% DEX 91-day Treasury Bonds

Assets*: $178,360,484
Number of Securities: 8
Target Asset Mix:

  • Bonds & Fixed Income Sec.: 63.5%
  • International Equities: 6.9%
  • Canadian Equities: 14.5%
  • American Equities: 14.1%
  • Cash & Equiv.:1.1%

*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 Canadian Bond Portfolio49.00%
FDP Global Equity Portfolio16.80%
FDP Canadian Dividend Equity Portfolio16.10%
FDP Global Fixed Income Portfolio12.80%
Province of Ontario, 2.70%, Jun. 02, 20293.20%
SPDR S&P 500 ETF Trust1.10%
Cash and Cash Equivalent1.00%
Net asset value as at March 31, 2020
169 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 Income Portfolio posted a net return of 11.8% for 2019, versus -1.5% 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 posting negative returns on the back of declining cannabis stocks.
  • 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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