Fund overview & performance

Looking for mutual funds?

CAN Canadian Growth 75/100

Download

Fund fact

October 31, 2025

The Fund seeks to provide a high level of long-term capital growth by investment primarily in Canadian stocks. The Fund may also invest in foreign stocks and short-term investments.

Is this fund right for you?

You want your money to grow over a longer term.
You want to invest in medium- to large-cap Canadian stocks with above-average growth potential.
You're comfortable with a medium level of risk.

Risk Rating

How is the fund invested? (as of August 31, 2025)

Asset allocation (%)

	Name	Percent
	Canadian Equity	35.6
	Domestic Bonds	30.6
	US Equity	23.5
	Cash and Equivalents	4.2
	International Equity	3.3
	Foreign Bonds	2.0
	Income Trust Units	0.5
	Other	0.3

Geographic allocation (%)

	Name	Percent
	Canada	70.6
	United States	25.4
	Ireland	1.1
	United Kingdom	1.0
	France	0.5
	Italy	0.4
	Switzerland	0.4
	North America	0.3
	Bermuda	0.2
	Other	0.1

Sector allocation (%)

	Name	Percent
	Fixed Income	32.6
	Financial Services	14.3
	Technology	12.9
	Basic Materials	5.9
	Consumer Services	5.7
	Industrial Services	5.4
	Cash and Cash Equivalent	4.2
	Industrial Goods	4.2
	Energy	4.0
	Other	10.8

Growth of $10,000 (since inception)

Data not available based on date of inception

Fund details (as of August 31, 2025)

Top holdings	%
Canada Government 3.25% 01-Jun-2035	4.9
Royal Bank of Canada	2.4
Cash and Cash Equivalents	2.4
Ontario Province 3.60% 02-Jun-2035	2.1
Shopify Inc Cl A	1.9
NVIDIA Corp	1.6
Microsoft Corp	1.5
Toronto-Dominion Bank	1.5
Constellation Software Inc	1.5
Canadian Imperial Bank of Commerce	1.2
Total allocation in top holdings	21.0

Portfolio characteristics
Standard deviation	10.21%
Dividend yield	1.26%
Yield to maturity	3.95%
Duration (years)	7.43%
Coupon	4.09%
Average credit rating	AA-
Average market cap (million)	$628,765.0

Understanding returns

Annual compound returns (%)

1 MO	3 MO	YTD	1 YR
{{snapShot.Return1Mth\|customNumber:2}}	{{snapShot.Return3Mth\|customNumber:2}}	{{snapShot.ReturnYTD\|customNumber:2}}	{{snapShot.Return1Yr\|customNumber:2}}

3 YR	5 YR	10 YR	INCEPTION
{{snapShot.Return3Yr\|customNumber:2}}	{{snapShot.Return5Yr\|customNumber:2}}	{{snapShot.Return10Yr\|customNumber:2}}	{{snapShot.ReturnInception\|customNumber:2}}

Calendar year returns (%)

2024	2023	2022	2021
{{snapShot.Return1YrCalendar\|customNumber:2}}	{{snapShot.Return2YrCalendar\|customNumber:2}}	{{snapShot.Return3YrCalendar\|customNumber:2}}	{{snapShot.Return4YrCalendar\|customNumber:2}}

2020	2019	2018	2017
{{snapShot.Return5YrCalendar\|customNumber:2}}	{{snapShot.Return6YrCalendar\|customNumber:2}}	{{snapShot.Return7YrCalendar\|customNumber:2}}	{{snapShot.Return8YrCalendar\|customNumber:2}}

Range of returns over five years (July 1, 2019 - October 31, 2025)

Best return	Best period end date	Worst return	Worst period end date
13.46%	Oct. 2025	6.22%	June 2024

Average return	% of periods with positive returns	Number of positive periods	Number of negative periods
9.65%	100.00%	17	0

Q3 2025 Fund Commentary

Market commentary

Canada’s economy faced challenges in the third quarter as trade tensions with the U.S. continued. This weighed on trade activity and the manufacturing sector. Household spending demonstrated resiliency despite a slowing labour market and economic uncertainty.

The Bank of Canada (BoC) lowered its key interest rate to 2.50%, citing a weaker labour market and easing inflation. The BoC emphasized a cautious approach to balancing growth and price stability. Canada’s unemployment rate was 7.1%, the highest since 2021, with youth unemployment rising sharply.

The Canadian equity market posted strong gains, with the S&P/TSX Composite Index rising 12.5%. Materials, information technology, energy and financials outperformed. The energy sector performed largely in line with the market, challenged by lower oil prices and trade-related issues.

Performance

The Fund’s relative exposure to Capital Power Corp., AutoZone Inc. and Aritzia Inc. contributed to performance. Capital Power benefited from mergers and acquisitions, re-contracting and new projects. Both AutoZone and Aritzia posted strong quarterly results.

Relative exposure to Constellation Software Inc. and Celestica Inc. detracted from the Fund’s performance. Constellation Software’s stock fell amid concerns around artificial intelligence (AI) disintermediation. A lack of ownership in Celestica was a detractor as the stock rose on perceived growth from AI-related contract wins.

At the sector level, stock selection in utilities and consumer discretionary contributed to the Fund’s performance. Underweight exposure to materials and stock selection in information technology and energy detracted from performance.

Portfolio activity

Rogers Communications Inc. was added given an improving outlook for the wireless segment and the underappreciated valuation of its sports franchises. Equinox Gold Corp. was added based on its growth profile and valuation. StorageVault Canada Inc. was added for its above-average earnings growth and consolidation in the self-storage space.

Gold positions, including Alamos Gold Inc. and IAMGOLD Corp., were increased because of the strong outlook for gold. Shopify Inc. was increased based on solid execution and unique position in the ecommerce ecosystem. TC Energy Corp. was increased because of its growth program and positioning in the natural gas distribution space.

Definity Financial Corp. was sold as the sub-advisor views the stock as fully valued. Teck Resources Ltd. was sold amid concerns over the ramp-up of the Quebrada Blanca mine. Canadian Apartment Properties REIT was sold based on muted growth prospects.

Because of near-term weakness in natural gas pricing, ARC Resources Ltd. and Tourmaline Oil Corp. were reduced. Intact Financial Corp. and Fairfax Financial Holdings Ltd. were reduced based on a softening in several key insurance markets. Thomson Reuters Corp. and Descartes Systems Group Inc. were trimmed because of perceived AI challenges.

(December 31, 2024)

Mackenzie Investments

FEL — CLGA054E

DSC^ — CLGA054F

CB2 — CLGA054R

CB4 — CLGA054G

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 Sept. 30, 2025.

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 Sept. 30, 2025. 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 Canadian Growth 75/100

Is this fund right for you?

Risk Rating

How is the fund invested? (as of August 31, 2025)

Asset allocation (%)

Geographic allocation (%)

Sector allocation (%)

Growth of $10,000 (since inception)

Fund details (as of August 31, 2025)

Understanding returns

Annual compound returns (%)

Calendar year returns (%)

Range of returns over five years (July 1, 2019 - October 31, 2025)

Q3 2025 Fund Commentary

Market commentary

Performance

Portfolio activity

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