A growth-style equity fund seeking strong long-term growth from investments around the world.
Is this fund right for you?
- You want your money to grow over the longer term.
- You want to invest in Canadian, U.S. and international equities.
- You're comfortable with a moderate level of risk.
Risk Rating
How is the fund invested?
(as of December 31, 2024)
Asset allocation (%)
|
Name |
Percent |
|
US Equity |
53.9 |
|
International Equity |
41.7 |
|
Canadian Equity |
3.1 |
|
Cash and Equivalents |
1.3 |
Geographic allocation (%)
|
Name |
Percent |
|
United States |
53.9 |
|
United Kingdom |
9.0 |
|
Ireland |
7.8 |
|
Multi-National |
7.5 |
|
France |
6.7 |
|
Canada |
4.4 |
|
Switzerland |
3.9 |
|
Netherlands |
2.9 |
|
Italy |
1.9 |
|
Other |
2.0 |
Sector allocation (%)
|
Name |
Percent |
|
Technology |
23.1 |
|
Industrial Goods |
12.5 |
|
Healthcare |
11.0 |
|
Industrial Services |
10.9 |
|
Consumer Services |
10.1 |
|
Financial Services |
9.4 |
|
Consumer Goods |
8.1 |
|
Mutual Fund |
7.5 |
|
Basic Materials |
5.4 |
|
Other |
2.0 |
Growth of $10,000
(since inception)
Data not available based on date of inception
Fund details
(as of December 31, 2024)
Top holdings |
% |
Canada Life Emerging Markets Large Cap Equity Fund Series R |
7.5 |
Apple Inc |
3.9 |
Microsoft Corp |
3.8 |
Aon PLC Cl A |
3.6 |
Amazon.com Inc |
3.5 |
Compass Group PLC |
3.3 |
Roper Technologies Inc |
3.2 |
Schneider Electric SE |
3.2 |
Waste Connections Inc |
3.1 |
Alcon AG |
3.1 |
Total allocation in top holdings |
38.2 |
Portfolio characteristics |
|
Standard deviation |
14.3% |
Dividend yield |
0.8% |
Average market cap (million) |
$755,479.2 |
Understanding returns
Annual compound returns (%)
1 MO |
3 MO |
YTD |
1 YR |
-1.7 | 1.4 | 3.4 | 9.2 |
3 YR |
5 YR |
10 YR |
INCEPTION |
6.5 | 8.9 | 7.7 | 9.0 |
Calendar year returns (%)
2024 |
2023 |
2022 |
2021 |
13.3 | 12.2 | -21.7 | 22.2 |
2020 |
2019 |
2018 |
2017 |
18.0 | 22.2 | -1.6 | 19.5 |
Range of returns over five years
(November 1, 2009 - February 28, 2025)
Best return |
Best period end date |
Worst return |
Worst period end date |
15.7% |
Dec. 2021 |
4.8% |
March 2020 |
Average return |
% of periods with positive returns |
Number of positive periods |
Number of negative periods |
9.7% |
100.0% |
125 |
0 |
Q4 2024 Fund Commentary
Market commentary
U.S. equities gained in the fourth quarter, strongly outperforming other global equity markets. This dominance was led by mega-capitalization U.S. technology stocks, which outperformed U.S. small- and mid-cap stocks. The “Magnificent Seven” group of companies rose by 48%, while the other 493 stocks in the S&P 500 Index rose by 10%.
A healthy domestic economy, interest-rate cuts from the U.S. Federal Reserve Board, and optimism about policy shifts from the new administration further supported U.S. equities.
Performance
The Fund’s relative exposure to Netflix Inc., Cadence Design Systems Inc. and Copart Inc. had a positive impact on performance. Relative exposure to Alcon Inc., Thermo Fisher Scientific Inc. and Linde PLC had a negative impact on performance.
At the sector level, stock selection in communication services and industrials had a positive impact on performance. Lack of exposure to the energy sector was also positive. Stock selection in information technology and financials had a negative impact on performance.
Regionally, stock selection in the U.K. and the Netherlands was positive for performance, while stock selection in the U.S. was negative.
During the quarter, the sub-advisor added MSCI Inc., IDEXX Laboratories Inc. and The Sherwin-Williams Co. to the Fund. The sub-advisor sold Becton, Dickinson and Co.
Outlook
The sub-advisor believes the global economy is undergoing two significant structural changes, both of which are accelerating because of artificial intelligence (AI).
The first change is the energy transition, which is transforming how energy is produced, distributed and consumed. The sub-advisor believes companies critical in the transition process should benefit from a multi-year growth opportunity. The second change is digitization, which includes technologies such as cloud computing, cybersecurity and AI, and is rapidly transforming industries. AI, in particular, is driving innovation and creating new possibilities for businesses and society, in the sub-advisor’s view.