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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*: $95,894,944
Number of Securities: 173

Target Asset Mix:

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

*As at April 30, 2018

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 September 30, 2018

iShares Core MSCI Emerging Markets ETF 54.80%
iShares China Large-Cap ETF 7.50%
Vanguard FTSE Emerging Markets ETF 3.70%
iShares MSCI Mexico Capped ETF 2.70%
Cash and Equivalents 2.50%
iShares MSCI South Korea Capped ETF 1.90%
iShares MSCI BRIC ETF 1.60%
Samsung Electronics Co., Ltd. GDR 1.50%
Taiwan Semiconductor Manufacturing Company, Ltd. ADR 1.40%
iShares MSCI Brazil ETF 1.40%
Alibaba Group Holding Limited ADR 1.00%
Naspers Limited Sponsored ADR 0.70%
Ping An Insurance (Group) Company of China, Ltd. ADR 0.60%
China Mobile Limited ADR 0.50%
CNOOC Limited ADR 0.40%
Malayan Banking Berhad ADR 0.40%
Baidu, Inc. ADR 0.40%
Hon Hai Precision Industry Co., Ltd. GDR 0.40%
PT Telekomunikasi Indonesia Tbk ADR 0.40%
Infosys Limited ADR 0.40%
SK Hynix Inc. GDS 0.30%
KB Financial Group, Inc. ADR 0.30%
China Life Insurance Company Limited ADR 0.30%
China Petroleum & Chemical Corporation ADR 0.30%
Itau Unibanco Holding SA ADR 0.20%
Net asset value as at September 30, 2018
99 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 Emerging Markets Equity Portfolio, Series A posted a net return of -4.2% for the first six-month period of 2018, versus 14.5% for 2017. The FDP Emerging Markets Equity Portfolio, Series I posted a net return of -3.6% for the first six-month period of 2018, versus its benchmark, which posted -2.0% in Canadian dollars.

Despite the global economy’s sustained growth, markets across emerging countries struggled over the six-month period due to the resurgence of volatility, after posting excellent returns in 2017. Trade war threats, the distinct political climate in certain emerging countries, as well as tightening monetary policies in the U.S. and the U.K., among other nations, had more severe repercussions on emerging markets than their developed counterparts.

Yield gaps among the emerging markets index’s component countries reflect the disparity between current economic and political conditions.

  • On the one hand, Russia (+8,1%), Peru (+12,1%) and the Czech Republic (+8,2%), among other countries, posted positive returns. Oil prices, which increased from USD60.42 in late December 2017 to USD74.15 as at June 30, 2018, representing a 22.7% increase, greatly contributed to the Russian index, 47% of which is comprised of the Energy sector.
  • On the other hand, returns in Brazil (-13.1%) and Turkey (-25.7%) were impeded by their unfavourable political backdrop.
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