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Fund Overview

This fund is designed for investors who …

  • Seek capital growth over the long term in a diversified portfolio of Canadian issuers.
  • Have a medium to high risk tolerance.
  • Have a long-term horizon and expect some performance volatility associated with equity securities.

Investment Objectives

  • Achieve long-term capital growth through investment diversification.
  • Invest primarily in equity securities of mostly large capitalization Canadian issuers, but also of small or medium capitalization Canadian issuers.
  • Invest in equity securities of foreign issuers and in debt instruments of Canadian and foreign issuers.

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

Summary

Volatility:

Average

Category: Canadian Equity (Pure)
Start Date: December 31, 1987
RRSP Admissibility: Yes, 100% eligible

Benchmark: S&P/TSX Toronto Stock Exchange Index


Assets*: $360,882,542
Number of Securities: 179

Target Asset Mix

  • Canadian Equity: 100%
  • Foreign Equity: 0%
  • Short Term: 0%

*As at April 30, 2018

Portfolio Management

Managers

  • External managers: Fidelity Investments Canada ULC, Triasima Portfolio Management Inc and Manulife Asset Management Limited.
    Read the investment approach.

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 September 30, 2018

Royal Bank of Canada 7.20%
The Toronto-Dominion Bank 7.10%
Cash and Equivalents 5.80%
Suncor Energy Inc. 4.40%
Brookfield Asset Management Inc. Cl. A 4.00%
Bank of Montreal 3.50%
Waste Connections, Inc. 3.00%
iShares S&P/TSX 60 Index ETF 2.70%
Canadian National Railway Company 2.60%
Shopify Inc. Cl. A 2.40%
Constellation Software Inc. 2.30%
Canadian Pacific Railway Company 2.30%
Sun Life Financial Inc. 2.20%
Rogers Communications Inc. Cl. B 2.10%
Canadian Natural Resources Ltd. 1.80%
Parkland Fuel Corporation 1.70%
Canadian Apartment Properties REIT 1.70%
CGI Group Inc. Cl. A 1.60%
Quebecor Inc. Cl. B 1.50%
Methanex Corporation 1.40%
CCL Industries Inc. Cl. B 1.30%
FirstService Corporation 1.30%
Restaurant Brands International Inc. 1.20%
BRP Inc., Sub. Voting 1.10%
Bausch Health Companies Inc. 1.00%
Net asset value as at September 30, 2018
377 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 Interim Management Report of Fund Performance (Operating Results), June 2018.

The FDP Canadian Equity Portfolio, Series A posted a net return of 4.2% for the first six-month period of 2018, versus -0.1% for 2017. The FDP Canadian Equity Portfolio, Series I posted a net return of 4.8% for the first half of the year.

  • The Canadian stock market, as measured by the S&P/TSX Composite Index, p, posted a 2.0% return during the same period. More than half of the index’s component sectors posted positive returns.
  • The rising oil price, which went from USD60.42 a barrel in late December 2017 to USD74.15 a barrel as at June 30, 2018, representing a 22.7% increase, enabled the Energy sector, which makes up over 21% of the Canadian index, to post a 5.6% return over the six-month period.
  • Conversely, sectors sensitive to interest rate fluctuations, such as Utilities (-6.8%), Telecommunications (-5.0%) and Financials (-1.0%), were affected by the actual and anticipated increases of the Bank of Canada’s bank rate.Said rate was increased by 0.25% in January and July, reaching 1.75%. Over the same period, the 10-year government bond yield grew from 2.05% to 2.31%.

Even if the Canadian market should be able to support slight bank rate increases thanks to the global economy’s sustained growth, NAFTA renegotiations and trade war risks are generating uncertainty, thereby affecting stock prices and the Canadian dollar. Bottom line, inflation remains under control in Canada, with the consumer price index reaching 2.5% last June (1.8% when excluding foodstuffs and Energy) and unemployment at 6.0%.

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