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Fund Overview

This fund is designed for investors who…

  • Want to diversify part of their portfolio geographically.
  • Have a long-term investment horizon and are capital growth-oriented
  • Have a medium risk tolerance.

Investment Objectives

  • Achieve medium- and long-term capital growth through investment diversification.
  • Invest primarily in equity securities of issuers listed on a stock exchange and located in emerging countries or having commercial interests in such countries.

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

Summary

Volatility:

Average / High

Category: Emerging Markets International Equity Fund
Start Date: April 8, 2008
RRSP Admissibility: Yes, 100% eligible

Benchmark: MSCI Emerging Markets in Canadian dollar


Assets*: $131,902,178
Number of Securities: 9

Target Asset Mix:

  • Emerging markets equity: 100%
  • Short term: 0%

*As at April 30, 2023

Portfolio Management

Managers

  • Professionals’ Financial – Mutual Funds Inc.

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, 2023

iShares Core MSCI Emerging Markets ETF 62.9%
iShares MSCI Emerging Markets ETF 12.5%
Franklin FTSE China ETF 7.6%
iShares MSCI India ETF 5.5%
iShares MSCI South Korea ETF 4.6%
iShares MSCI Mexico ETF 3.0%
iShares MSCI Brazil ETF 2.9%
Cash and Cash Equivalents 1.1%
Net asset value as at September 30, 2023 130 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 Annual Management Report of Portfolio Performance (Operating Results), as at December 31, 2022.

The FDP Emerging Markets Equity Portfolio, Series A posted a net return of -13.7% for 2022, versus -4.4% for 2021. The FDP Emerging Markets Equity Portfolio, Series I posted a net return of -12.6% for 2022. Emerging markets’ stock markets, as measured by the MSCI Emerging Market Index, posted a net return of -14.28% in Canadian dollars for 2022.

In emerging markets, the different indices were impacted by the U.S. dollar appreciating and Information Technology and Financials—which are these stock markets’ largest sectors—falling. China, which accounts for 34% of the index, fell 16.32% over the year.

The FDP Emerging Markets Equity Portfolio seeks to add value relative to the MSCI Emerging Markets Index through the iShares MSCI Emerging Markets ETF. In 2022, the portfolio added 2.71% in value, mostly due to an overweight to Chile, Indonesia and Malaysia ETFs and an underweight to China and Russia. Selling off the overweight to Brazil in early May to reduce the underweight to China and increasing the allocation to India in the second half of the year proved favourable for the FDP Emerging Markets Equity Portfolio.

Inflation, fears over Taiwan, the war in Ukraine, supply chain disruptions, a strengthening U.S. dollar and intermittent lockdowns in China slowed stock market’s growth in emerging markets.
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