My account

For its outstanding performance…

Winner of a FundGrade A+® Award in 2019 at Fundata’s annual Evening of Excellence, in the in the Canadian Neutral Balanced funds category, competing against 400 other funds.

Fund Overview

This fund is designed for investors who…

  • Value a performance record of steady income as well as capital growth.
  • Have a low to medium risk tolerance and mid-to long-term investment horizon.

Investment Objectives

  • Achieve a return comprised of a steady income and medium- and long-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.



Low / Average

Category: Canadian income, balanced
Start Date: March 31, 1978
RRSP Admissibility: yes, 100% eligible


  • 45% DEX Short Term/Mid-term
  • 35% S&P/TSX Composite Index
  • 15% MSCI World (in CA$)
  • 5% 91-day Treasury Bonds

Assets*: $459,279,752
Number of Securities: 11
Target Asset Mix:

  • Bonds and Fixed Income : 40.8%
  • Canadian Equities: 32.4%
  • International Equities: 9.1%
  • American Equities: 16.8%
  • Cash and Equivalents: 1.0%

*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 Portfolio 38.0%
FDP Canadian Equity Portfolio 31.5%
SPDR S&P 500 ETF Trust 8.9%
FDP Global Equity Portfolio 8.3%
FDP Global Fixed Income Portfolio 5.0%
Cash and Cash Equivalent 3.5%
iShares Core MSCI EAFE ETF 2.9%
FDP Emerging Markets Equity Portfolio 1.0%
FDP US Index Equity Portfolio 0.5%
iShares Core S&P/TSX Capped Composite Index ETF 0.3%
Net asset value as at March 31, 2020 431 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 Portfolio Performance (Operating Results), as at June 30, 2020.

The FDP Balanced Portfolio posted a net return of 15.2% for 2019, versus -3.1% 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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