balanced fund

Asset Class/Style Canadian Balanced / Value Fund Unit Values View on
Fund Inception Date: 09/30/2000 Total Fund Assets: $86.0 million
as of 09/30/2018

Additional Information


The investment objective of the Fund is to generate both capital appreciation (growth) and income, while maintaining a relatively low level of risk. To achieve its objectives, the Fund invests in a diverse portfolio of stocks, government and corporate bonds, and short-term instruments such as Government of Canada treasury bills.

Performance Periods Ended 11/30/2018
Total Returns Series O Series A Series F
Year to Date -0.02% -1.83% -5.12%
3 Month -3.32% -3.80% -8.07%
Annualized Returns Series O Series A Series F
1 Year -0.38% -2.33% -5.60
3 Year 4.90% 2.85% N/A
5 Year 5.58% 3.51% N/A
7 Year 7.56% 5.49% N/A
10 Year 7.54% 5.48% N/A
Since Inception1 6.84% 3.42% -5.60%

1Series O units were established in September 2000. Returns in respect to Series O units are presented excluding any investment management fees that may be charged to the investor's account. Series A units were established in July 2007 (returns presented since July 31, 2007). Management fees in respect to Series A units are charged directly to the Series, hence returns are presented net of those fees. Returns for both Series are inclusive of the Fund's operating expenses.

Top HoldingsAs of 09/30/2018
Prov. of Ontario 3.15 June 2, 2022 5.2%
Canada Government 1.00 June 1, 2027 3.5%
Canada Government 2.25 June 1, 2025 3.0%
Royal Bank of Canada 2.3%
TD Bank 2.3%
Bank of Nova Scotia 2.0%
Cenovus Energy Inc. 1.9%
Prov. of Ontario 2.60 June 2, 2025 1.8%
Husky Energy Inc. 1.6%
Canadian Imperial Bank 1.5%
Sector Weightings**As of 09/30/2018
Financials 28.0%
Energy 15.4%
Industrials 12.4%
Consumer Staples 10.9%
Information Technology 9.5%
Telecommunications 5.9%
Materials 5.6%
Consumer Discretionary 5.1%
Health Care 4.8%
Real Estate 1.8%
Utilities 0.7%
** total equities

Investment Process

The portfolio construction process for balanced portfolios incorporates the development of a tactical asset allocation policy by the investment team that reflects the relative valuation of the component asset classes.

Our asset class valuation methodology factors in the long-term earnings power of corporations and the level of long-term interest rates. This top-down determination may be adjusted to reflect the input of the asset class specialists with respect to their analyses of values from a bottom-up perspective. The process is not designed to generate frequent changes in asset mix policy but rather to indicate when asset classes are significantly mispriced.

The structuring of the equity component of the Fund is the responsibility of a team of portfolio managers, each of whom has assigned global sector responsibilities. Their focus is on identifying mispriced securities through independent fundamental research supported by proprietary valuation models.

The fixed income team collaborates on the development of duration and sector allocation policy. Each team member is accountable for specific value-added strategies which combined support those primary policies.