Fund overview & performance

Looking for mutual funds?

Canada Life Mutual Funds

CAN Global Value Balanced

75/100

Fund profile and commentary

Fund fact

February 28, 2025

A global value fund that seeks to generate income and long-term growth.

Is this fund right for you?

A person who is investing for the medium to longer term and seeking exposure to foreign bonds and stocks and is comfortable with low to Medium risk.
Since the fund invests in stocks and bonds anywhere in the world, its value is affected by changes in the interest rates and by stock prices which can rise and fall in a short period of time.

Risk Rating

How is the fund invested? (as of February 28, 2025)

Asset allocation (%)

	Name	Percent
	US Equity	43.7
	Domestic Bonds	25.2
	International Equity	22.9
	Cash and Equivalents	4.7
	Canadian Equity	3.3
	Foreign Bonds	0.2

Geographic allocation (%)

	Name	Percent
	United States	43.7
	Canada	33.2
	Switzerland	4.6
	United Kingdom	4.2
	Germany	2.5
	Ireland	2.3
	Netherlands	1.9
	France	1.8
	Norway	1.6
	Other	4.2

Sector allocation (%)

	Name	Percent
	Fixed Income	25.5
	Financial Services	12.3
	Healthcare	12.0
	Consumer Goods	11.7
	Technology	11.6
	Telecommunications	5.9
	Industrial Goods	5.5
	Cash and Cash Equivalent	4.7
	Consumer Services	4.2
	Other	6.6

Growth of $10,000 (since inception)

Data not available based on date of inception

Fund details (as of February 28, 2025)

Top holdings	%
Gen Digital Inc	2.5
eBay Inc	2.4
American Express Co	2.3
Amgen Inc	2.3
Merck & Co Inc	2.3
Kimberly-Clark Corp	2.3
Medtronic PLC	2.3
Amdocs Ltd	2.3
Comcast Corp Cl A	2.3
PPG Industries Inc	2.1
Total allocation in top holdings	23.1

Portfolio characteristics
Standard deviation	10.8%
Dividend yield	2.6%
Yield to maturity	3.9%
Duration (years)	8.0
Coupon	4.3%
Average credit rating	AA-

Understanding returns

Annual compound returns (%)

1 MO	3 MO	YTD	1 YR
{{snapShot.Return1Mth\|customNumber:1}}	{{snapShot.Return3Mth\|customNumber:1}}	{{snapShot.ReturnYTD\|customNumber:1}}	{{snapShot.Return1Yr\|customNumber:1}}

3 YR	5 YR	10 YR	INCEPTION
{{snapShot.Return3Yr\|customNumber:1}}	{{snapShot.Return5Yr\|customNumber:1}}	{{snapShot.Return10Yr\|customNumber:1}}	{{snapShot.ReturnInception\|customNumber:1}}

Calendar year returns (%)

2024	2023	2022	2021
{{snapShot.Return1YrCalendar\|customNumber:1}}	{{snapShot.Return2YrCalendar\|customNumber:1}}	{{snapShot.Return3YrCalendar\|customNumber:1}}	{{snapShot.Return4YrCalendar\|customNumber:1}}

2020	2019	2018	2017
{{snapShot.Return5YrCalendar\|customNumber:1}}	{{snapShot.Return6YrCalendar\|customNumber:1}}	{{snapShot.Return7YrCalendar\|customNumber:1}}	{{snapShot.Return8YrCalendar\|customNumber:1}}

Range of returns over five years

Best return	Best period end date	Worst return	Worst period end date
Data not available based on date of inception

Average return	% of periods with positive returns	Number of positive periods	Number of negative periods
Data not available based on date of inception

Q4 2024 Fund Commentary

Market commentary

Over the quarter, equity market volatility was fuelled by the U.S. presidential election, other global elections, tariff tensions, easing interest rates and geopolitical conflicts. Despite the volatility, the Canadian and U.S. equity markets rose. In contrast, international equities and Canadian bonds declined.

Performance

The Fund’s fixed income component had a positive impact on performance. Canadian, U.S. and international equities had a negative impact.

In fixed income, the Fund’s longer duration (higher sensitivity to interest-rate changes) was positive for performance as bond yields fell. Overweight exposure to corporate bonds also had a positive impact. Yield curve positioning had a negative impact on performance because of the Fund’s overweight exposure to 10-year bonds, which underperformed.

The Fund’s relative exposure to American Express Co., SEI Investments Co. and Carlyle Group Inc. had a positive impact on performance. Relative exposure to Polaris Inc., Biogen Inc. and Harley-Davidson Inc. had a negative impact on performance.

American Express Co. reported improved profitability and stronger competitive positioning. SEI Investments Co. posted strong third-quarter results, with record net new sales of US$46 million. Carlyle Group Inc.’s performance was driven by new leadership and a focus on increasing profit margins.

Polaris Inc. struggled with a challenging business environment for power sports equipment, which is expected to continue into 2025. Biogen Inc.’s annual revenue declined as a slow drug launch and pipeline issues created setbacks. Harley-Davidson Inc.’s earnings reflected decreased retail sales in North America and globally.

In Canadian equities, stock selection in industrials had a positive impact on performance. Stock selection in the information technology sector was negative.

In U.S. equities, stock selection in and overweight exposure to the financials sector, and stock selection in industrials, had a positive impact on performance. Stock selection in the consumer discretionary and communication services sectors, and underweight exposure to and stock selection in information technology, were negative.

In international equities, stock selection in financials and materials had a positive impact on performance. Overweight exposure to the health care and consumer staples sectors, and stock selection in communication services, had a negative impact.

The sub-advisor added ATS Corp., Boyd Group Services Inc., Medtronic PLC, Chubb Ltd. and Capgemini SE to the Fund. The sub-advisor increased several holdings, including Bank of Montreal, Canadian Pacific Kansas City Ltd., The Toronto-Dominion Bank, Merck & Co. Inc. and Omnicom Group Inc.

The sub-advisor sold Canadian Tire Corp. Ltd. and South Bow Corp. Several holdings were decreased, including Brookfield Asset Management Ltd., Sun Life Financial Inc., Royal Bank of Canada, Saputo Inc., BlackRock Inc. and SEI Investments Co.

Outlook

The sub-advisor believes there are key challenges ahead for equity markets, particularly for Canada. Despite several rate reductions, the Bank of Canada’s policy rate remains much higher than during the early 2020s. The sub-advisor expects higher mortgage payments to lead to lower discretionary spending, which could have a negative impact on economic activity.

The new U.S. administration intends to pursue protectionist trade policies like tariffs. The U.S. is Canada’s largest trading partner, and tariffs could significantly affect Canada’s export-driven economy.

Given expectations for revenue acceleration, margin expansion and earnings growth, the sub-advisor anticipates continued equity market volatility. Should earnings announcements fall short of high expectations, the market could decline. The sub-advisor believes this risk is higher for U.S. equities, particularly in the information technology, communication services and consumer discretionary sectors.

In fixed income, bond yields remain significantly higher than the lows of the early part of the decade. The sub-advisor believes the U.S. Federal Reserve Board and BoC are likely to continue lowering interest rates, but at a less aggressive pace. As credit spreads (the difference in yield between government and corporate bonds) are already narrow, the sub-advisor doesn’t expect them to narrow much further. The sub-advisor therefore expects 2025 to provide opportunities in corporate bonds.

(December 31, 2023)

Beutel, Goodman & Company Ltd.

FEL — CLGA044E

DSC^ — CLGA044F

CB2 — CLGA044R

CB4 — CLGA044G

Contact information

Toll free: 1-888-252-1847

Period:

From: to:

Chart type:

Simple moving average:

No matching records found.

Summary

For the period {{NAVPSPerformanceSummary.StartDate}} through {{NAVPSPerformanceSummary.EndDate}} with $10,000 CAD investment

Total returns performance

Last price

{{NAVPSPerformanceSummary.NAVPS | customCurrency}} CAD

as of market close {{NAVPSPerformanceSummary.NAVPSDate}}

Value of $10,000 investment

{{NAVPSPerformanceSummary.GrowthOfTenThousand | customCurrency}} CAD

Period:

From: to:

Interval:

Export to:

Legal disclaimers

The commentaries on the company specific information and purchases and sales were provided by the fund manager. Canada Life will not be liable for any loss, or damages whatsoever, whether directly or indirectly incurred, arising out of the use or misuse of errors or omissions in any information contained in this commentary. The data provided in this commentary is for information purposes only and, except where otherwise indicated, is current as of Dec. 31, 2024.

The views expressed in this commentary are those of fund manager as at the date of publication and are subject to change without notice. This commentary is presented only as a general source of information and is not intended as a solicitation to buy or sell specific investments, nor is it intended to provide tax or legal advice. Prospective investors should review the offering documents relating to any investment carefully before making an investment decision and should ask their Advisor for advice based on their specific circumstances.

The content of this commentary (including facts, views, opinions, recommendations, descriptions of or references to, products or securities) is not to be used or construed as investment advice, as an offer to sell or the solicitation of an offer to buy, or an endorsement, recommendation or sponsorship of any entity or security cited. Although we endeavour to ensure its accuracy and completeness, we assume no responsibility for any reliance upon it.

This document may contain forward-looking information which reflect our or third-party current expectations or forecasts of future events. Forward-looking information is inherently subject to, among other things, risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed herein. These risks, uncertainties and assumptions include, without limitation, general economic, political and market factors, interest and foreign exchange rates, the volatility of equity and capital markets, business competition, technological change, changes in government regulations, changes in tax laws, unexpected judicial or regulatory proceedings and catastrophic events. Please consider these and other factors carefully and not place undue reliance on forward-looking information. The forward-looking information contained herein is current only as of Dec. 31, 2024. There should be no expectation that such information will in all circumstances be updated, supplemented or revised whether as a result of new information, changing circumstances, future events or otherwise.

There can be no assurance that the Fund’s return or volatility targets will be met, or met over any particular time horizon. Targeted returns and volatility should be evaluated over the time period indicated and not over shorter periods. Targeted returns are not actual performance and should not be relied upon as an indication of actual or future performance.

This fund is available through a segregated funds policy issued by Canada Life.

A description of the key features of Canada Life's individual variable insurance contract is contained in the information folder, available from your advisor. Any amount that is allocated to a segregated fund is invested at the risk of the policyowner and may increase or decrease in value.

Canada Life Investment Management and design, and Canada Life and design are trademarks of The Canada Life Assurance Company.

*For Partner series and Preferred partner series an advisory and management services (AMS) fee, of between 0.50% and 1.25%, is negotiated between you and your advisor. The MER doesn’t include this fee.

Canada Life is currently waiving a portion of the investment management fees on the High Interest Savings fund to target an estimated management expense ratio of 1.00%. Canada Life is not obligated to continue waiving these fees and it may cease to do so at any time without notice.

The 7-day annualized yield is based on the annualized total return of the fund over the past seven calendar days and does not represent an actual one-year return. It’s important to note that 7-day annualized yield is not an indicator of future performance of the fund.

^Deferred Sales Charge (DSC) purchase option is not available for new contributions given regulatory bans that came into effect June 1, 2023. For certain policies where DSC is the only sales charge option available, new contributions may be accepted. Additional disclosure may be required.

^†Soft capped - Contributions are no longer accepted to new investors.

^‡Hard capped - Contributions are no longer accepted.

Distribution of the chart, history standard and short-term reports are not permitted without including the fund profile long-term report. A description of the key features of Canada Life’s individual variable insurance contract is contained in the information folder, available from your advisor. Any amount that is allocated to a segregated fund is invested at the risk of the policyowner and may increase or decrease in value. A description of the key features of Canada Life's individual variable insurance contract is contained in the information folder, available from your advisor. Reports produced using this web site are for information purposes only. Canada Life and their affiliates, representatives, and third party content providers do not warrant the accuracy, completeness, or timeliness of this website or any content, and shall not be responsible for investment decisions, damages, or other losses resulting from the use of this website or its content. The only true report on unit values is the periodic statement prepared and sent by Canada Life. For more information about Canada Life and its products visit canadalife.com or talk to your advisor. In Quebec, advisor refers to a financial security advisor for individual insurance and segregated funds policies; and to an advisor in group insurance/annuity plans for group products. Funds are available through a segregated funds policy issued by Canada Life. Canada Life and design are/is a trademark(s) of The Canada Life Assurance Company.

CAN Global Value Balanced

Is this fund right for you?

Risk Rating

How is the fund invested? (as of February 28, 2025)

Asset allocation (%)

Geographic allocation (%)

Sector allocation (%)

Growth of $10,000 (since inception)

Fund details (as of February 28, 2025)

Understanding returns

Annual compound returns (%)

Calendar year returns (%)

Range of returns over five years

Q4 2024 Fund Commentary

Market commentary

Performance

Outlook

Fund category

Inception date

Management expense ratio (MER)* For Partner series and Preferred partner series an advisory and management services (AMS) fee, of between 0.50% and 1.25%, is negotiated between you and your advisor. The MER doesn’t include this fee.

Fund management

Net assets (million)

Price

Number of holdings

Minimum initial investment

Fund codes