My account

Fund Overview

This fund is designed for investors who…

  • Seek steady income and diversification of their assets.
  • Are concerned with security and capital growth and whose risk tolerance is low.

Investment Objectives

  • Achieve steady income and ensure invested capital preservation.
  • Invest primarily in debt instruments of Canadian and foreign issuers.
  • May also invest in equity securities of Canadian and foreign issuers paying dividends or income.

Fund Facts are published once a year. Read them now.

Summary

Volatility:

Low

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

Benchmark:

  • 50% DEX short term
  • 50% DEX mid-term

Assets*: $329,155,476
Number of Securities: 98
Bond Duration: 4.28 yrs

Target Asset Mix

  • Bonds: 100%
  • Short Term: 0%

*As at May 24, 2019

Portfolio Management

Managers

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

Province of Ontario 2.40% Jun. 02, 2026 4.80%
Canada Housing Trust No. 1 1.75% Jun. 15, 2022 4.50%
Canadian Imperial Bank of Commerce 1.90% Apr. 26, 2021 3.80%
Province of Ontario 3.50% Jun. 02, 2043 3.80%
HSBC Bank Canada 1.82% Jul. 07, 2020 2.90%
Government of Canada 2.75% Dec. 01, 2048 2.90%
Province of Ontario 3.15% Jun. 02, 2022 2.60%
Government of Canada 0.50% Mar. 01, 2022 2.50%
Government of Canada 3.50% Dec. 01, 2045 2.30%
Province of Quebec 3.50% Dec. 01, 2045 2.20%
Government of Canada 5.75% Jun. 01, 2029 2.10%
TELUS Corporation 5.05% Jul. 23, 2020 1.90%
Province of Ontario 2.60% Jun. 02, 2025 1.90%
Province of Quebec 6.25% Jun. 01, 2032 1.70%
HSBC Bank Canada 2.54% Jan. 31, 2023 1.70%
Province of Ontario 5.60% Jun. 02, 2035 1.70%
Government of Canada 2.25% Feb. 01, 2021 1.70%
Canada Housing Trust No. 1 2.35% Jun. 15, 2023 1.60%
Canadian Imperial Bank of Commerce 2.90% Sep. 14, 2021 1.60%
Government of Canada 1.00% Jun. 01, 2027 1.60%
Province of Quebec 3.00% Sep. 01, 2023 1.60%
Crombie Real Estate Investment Trust 3.96% Jun. 01, 2021 1.50%
Canada Housing Trust No. 1 2.55% Mar. 15, 2025 1.50%
Province of Quebec 5.00% Dec. 01, 2041 1.50%
Province of Quebec 3.50% Dec. 01, 2022 1.50%
Net asset value as at Mary 24, 2019
329 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 Managers’ Comments are taken from the Management Report of Fund Performance (Operating Results), December 2018.

The FDP Canadian Bond Portfolio, Series A posted a net return of 0.6% for 2018, versus 1.8% for 2017. The FDP Canadian Bond Portfolio, Series I posted a net return of 1.5% for 2018.

  • 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.

Central banks expressed a firm intention to continue withdrawing the emergency policies implemented in the wake of the 2008 financial crisis and return to more normal conditions. This strategic reorientation impacted all markets, even if yield increases should be implemented gradually and predictably.

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.

For an analysis of your situation,
get in touch with one of our advisors