April 30, 2026
A blended-style equity fund seeking long-term growth by employing a sector-centric approach.
Is this fund right for you?
- You want your money to grow over a longer term.
- You want to invest in equities outside of Canada and the U.S.
- You're comfortable with a moderate level of risk.
RISK RATING
How is the fund invested? (as of April 30, 2026)
| Name | Percent |
|---|---|
| International Equity | 94.5 |
| Cash and Equivalents | 1.6 |
| Foreign Bonds | 1.5 |
| US Equity | 1.4 |
| Canadian Equity | 1.0 |
| Name | Percent |
|---|---|
| Japan | 19.9 |
| United Kingdom | 17.7 |
| Switzerland | 9.3 |
| Netherlands | 8.3 |
| France | 7.1 |
| Germany | 5.1 |
| Ireland | 4.3 |
| Spain | 3.9 |
| Italy | 3.0 |
| Other | 21.4 |
| Name | Percent |
|---|---|
| Industrial Goods | 21.0 |
| Financial Services | 20.5 |
| Healthcare | 12.6 |
| Technology | 10.4 |
| Consumer Goods | 9.5 |
| Energy | 7.6 |
| Utilities | 4.6 |
| Basic Materials | 4.5 |
| Consumer Services | 3.4 |
| Other | 5.9 |
Growth of $10,000 (since inception)
For the period 07/09/2018 through 04/30/2026 tr.with $10,000 CAD investment, The value of the investment would be $17,766
Fund details (as of April 30, 2026)
| Top holdings | Percent (%) |
|---|---|
| ASML Holding NV | 3.1 |
| AstraZeneca PLC | 3.0 |
| British American Tobacco PLC | 2.7 |
| Roche Holding AG | 2.7 |
| Iberdrola SA | 2.7 |
| Infineon Technologies AG Cl N | 2.6 |
| Hoya Corp | 2.6 |
| Glencore PLC | 2.5 |
| BHP Group Ltd | 2.4 |
| Safran SA | 2.4 |
| Total allocation in top holdings | 26.7 |
| Portfolio characteristics | Value |
|---|---|
| Standard deviation | 10.98% |
| Dividend yield | 2.31% |
| Yield to maturity | - |
| Duration (years) | - |
| Coupon | - |
| Average credit rating | Not rated |
| Average market cap (million) | $241,711.9 |
Understanding returns
Annual compound returns (%)
| 1 MO | 3 MO | YTD | 1 YR |
|---|---|---|---|
| 4.47 | 6.59 | 6.43 | 27.55 |
| 3 YR | 5 YR | 10 YR | INCEPTION |
|---|---|---|---|
| 15.70 | 9.86 | - | 7.64 |
Calendar year returns (%)
| 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|
| 28.72 | 10.13 | 13.97 | -10.14 |
| 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|
| 6.28 | 8.68 | 17.26 | - |
Range of returns over five years (August 01, 2018 - April 30, 2026)
| Best return | Best period end date | Worst return | Worst period end date |
|---|---|---|---|
| 12.09% | Oct 2025 | 3.00% | Sep 2023 |
| Average return | % of periods with positive returns | Number of positive periods | Number of negative periods |
|---|---|---|---|
| 7.62% | 100 | 34 | 0 |
fundgrade A+ logo
Fund category
International Equity
Inception date
July 09, 2018
Management expense ratio (MER)*
-
Fund management
Putnam Investments
Net assets (million)
$27.4
Price
$17.77
Number of holdings
66
Minimum Investment
$500
Fund codes
FEL — CLGB108I
Contact information
Customer service centre
Toll free: 1-888-252-1847
Corporate website
Q1 2026 Fund Commentary
Commentary and opinions are provided by Putnam Investments.
Market commentary
Global equities declined during the first quarter of 2026, with a sharp drawdown in March offsetting earlier gains. Value outperformed growth across most markets, and smaller-capitalization stocks held up better than large-cap stocks. Investors rotated away from U.S. mega-capitalization and long-duration growth names .
Performance
Stock selection within the information technology and industrials sectors contributed to performance. An overweight allocation to the energy sector also contributed to performance. Selection within Asia and Japan was positive.
Samsung Electronics Co. Ltd. contributed to performance because of memory demand strength in January and February, although the Korean market retraced in March on energy import sensitivity. The sub-advisor maintains conviction on the company's role in artificial intelligence (AI) high-bandwidth memory. BP p.l.c. contributed to performance because of the oil price surge following the conflict in Iran and the company's strategic pivot toward oil and gas production. Taiwan Semiconductor Manufacturing Co. Ltd. contributed to performance because of AI-related capital equipment strength and the company's leading-edge semiconductor criticality.
Stock selection in the health care, consumer staples and communication services sectors detracted from performance during the quarter. A lack of exposure to Australia also detracted from performance.
HDFC Bank Ltd. detracted from performance because of governance concerns following the chairman's resignation and merger integration uncertainty. The sub-advisor reduced the allocation during the quarter. ICON plc detracted from performance because of an accounting investigation involving revenue overstatement. The sub-advisor sold the entire allocation.
Portfolio activity
The sub-advisor added Tencent Holdings Ltd., Diageo plc, Daiwa Securities Group Inc., Compagnie de Saint-Gobain S.A. and adidas AG during the quarter. The sub-advisor increased AstraZeneca PLC, Mercedes-Benz Group AG and Smurfit Westrock plc.
The sub-advisor sold ASM International N.V., SAP SE, The Magnum Ice Cream Co., Fresenius Medical Care AG and Adecco Group AG during the quarter. The sub-advisor decreased Mizuho Financial Group, Japan Post Co. Ltd. and Alibaba Group Holding Ltd.
Outlook
The sub-advisor notes that the rotation from growth to value continued during the quarter and that geopolitical and policy uncertainty persists. The ongoing conflict in the Middle East adds a layer of uncertainty that may continue to influence sector and regional performance.
Summary
For the period 07/09/2018 through 04/30/2026 with $10,000 CAD investment
Total returns performance
77.66%
Last price
$17.77 CAD
as of market close 04/30/2026
Value of $10,000 investment
$17,766.44 CAD
