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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 American issuers.
  • Want to participate in the indices of the American market.
  • Have capital-growth objectives in the long term and whose risk tolerance is medium.

Investment Objectives

  • Achieve long-term capital growth.
  • Invest in securities included in one or more American stock market indices in proportion to their weight in such indices, with a minimum of 60% of the assets tracking the performance of S&P 500 market index, or favours investments whose returns track those of these indices.

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

Summary

Volatility:

Average

Category: US Equity
Start Date: July 24, 2000
RRSP Admissibility: Yes, 100% eligible

Benchmark: S&P/500 Index not hedged to the Canadian dollar


Assets*: $19,427,830
Number of Securities: 10

Target Asset Mix:

  • Short Term: 0%
  • American Securities (S&P 500): 100%
  • Other securities in other American indexes or sub-indexes: 0%

*As at July 31, 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

SPDR S&P 500 ETF Trust 57.50%
iShares Core S&P 500 Index ETF (CAD- Hedged) 18.40%
Invesco QQQ Trust Series 1 6.00%
iShares MSCI USA Value Factor ETF 5.90%
iShares MSCI USA Momentum Factor ETF 4.30%
iShares S&P 500/BARRA Value Index Fund 3.40%
iShares Core S&P Small-Cap ETF 2.90%
Invesco BuyBack Achievers ETF 1.10%
Cash and Equivalents 0.50%
Net asset value as at September 30, 2018
35 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 US Index Equity Portfolio, Series A1 posted a net return of 6.2% for the first six-month period of 2018, versus 4.6% for 2017.

  • The U.S. stock market, as measured by the S&P 500 Index, has been on an upswing since the beginning of the year, posting a 7.8% return in Canadian dollars over the first half of 2018. Stocks within the IT sector, particularly those linked to consumer goods, greatly contributed to the S&P 500’s performance.
  • The U.S. also put its protectionist stance into action by postponing further NAFTA renegotiations until November 2018 and imposing policies that exacerbate trade tensions with the rest of the world, inflating them to historic levels. Job creation was stronger than expected, with salary growth slightly less so, which bodes well for the United States’ overall economic growth.

 As a result, the U.S. economy’s strength and the possibility of a trade war are leading investors to favour U.S. federal bonds, thereby widening credit spreads.

The backlash in the wake of the Fed’s continued tightening of its monetary policies, as well as sustained geopolitical concerns, will remain key issues moving forward.

 

1 Note : The FDP Portfolio US Equity is formerly known as US Index Equity.

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