July 31, 2026
A value-oriented fund seeking global invesetments for long-term growth.
Is this fund right for you?
- You want your money to grow over a longer term.
- You want to invest in equities anywhere in the world.
- You're comfortable with a moderate level of risk.
RISK RATING
How is the fund invested? (as of July 31, 2026)
| Name | Percent |
|---|---|
| US Equity | 50.9 |
| International Equity | 47.2 |
| Cash and Equivalents | 1.9 |
| Name | Percent |
|---|---|
| United States | 51.5 |
| Ireland | 11.3 |
| France | 8.5 |
| Taiwan | 4.0 |
| Germany | 3.8 |
| Switzerland | 3.2 |
| Korea, Republic Of | 2.9 |
| United Kingdom | 2.3 |
| Italy | 2.1 |
| Other | 10.4 |
| Name | Percent |
|---|---|
| Technology | 29.2 |
| Financial Services | 17.2 |
| Healthcare | 10.2 |
| Industrial Goods | 9.9 |
| Consumer Goods | 9.2 |
| Consumer Services | 8.7 |
| Energy | 4.3 |
| Industrial Services | 3.8 |
| Utilities | 2.4 |
| Other | 5.1 |
Growth of $10,000 (since inception)
For the period 10/05/2009 through 07/31/2026 tr.with $10,000 CAD investment, The value of the investment would be $42,623
Fund details (as of July 31, 2026)
| Top holdings | Percent (%) |
|---|---|
| Microsoft Corp | 4.7 |
| Alphabet Inc Cl A | 4.4 |
| Taiwan Semiconductor Manufactrg Co Ltd - ADR | 4.0 |
| Meta Platforms Inc Cl A | 3.9 |
| Samsung Electronics Co Ltd | 2.9 |
| Netflix Inc | 2.7 |
| Amazon.com Inc | 2.4 |
| Ryanair Holdings PLC - ADR | 2.3 |
| Oshkosh Corp | 2.0 |
| Marsh & McLennan Cos Inc | 2.0 |
| Total allocation in top holdings | 31.3 |
| Portfolio characteristics | Value |
|---|---|
| Standard deviation | 10.01% |
| Dividend yield | 1.69% |
| Yield to maturity | - |
| Duration (years) | - |
| Coupon | - |
| Average credit rating | Not rated |
| Average market cap (million) | $1,023,753.4 |
Understanding returns
Annual compound returns (%)
| 1 MO | 3 MO | YTD | 1 YR |
|---|---|---|---|
| -0.26 | 5.57 | 7.66 | 14.10 |
| 3 YR | 5 YR | 10 YR | INCEPTION |
|---|---|---|---|
| 13.31 | 8.94 | 7.90 | 9.00 |
Calendar year returns (%)
| 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|
| 15.13 | 16.24 | 10.67 | -9.58 |
| 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|
| 18.26 | 0.33 | 10.79 | -3.40 |
Range of returns over five years (November 01, 2009 - July 31, 2026)
| Best return | Best period end date | Worst return | Worst period end date |
|---|---|---|---|
| 16.82% | May 2017 | 1.17% | Mar 2020 |
| Average return | % of periods with positive returns | Number of positive periods | Number of negative periods |
|---|---|---|---|
| 8.81% | 100 | 142 | 0 |
Q2 2026 Fund Commentary
Commentary and opinions are provided by Keyridge Asset Management Limited.
Market commentary
Global equity markets recovered strongly over the second quarter of 2026 after a correction earlier in the quarter tied to conflict in the Middle East. A ceasefire between the parties, followed by the signing of a memorandum of understanding and the reopening of the Strait of Hormuz, lifted sentiment and drove markets to record highs. Beyond the geopolitical resolution, a strong corporate earnings backdrop, continued enthusiasm around the artificial intelligence (AI) theme and a resilient global economic growth environment all supported equities through the quarter.
Performance
Stock selection within the energy and consumer staples sectors contributed to the Fund’s performance during the quarter. Samsung Electronics Co. Ltd., Applied Materials Inc. and Taiwan Semiconductor Manufacturing Co. Ltd. also contributed to performance.
Stock selection within the financials and consumer discretionary sectors detracted from the Fund’s performance. An underweight allocation to the information technology sector and an overweight allocation to the communication services sector also detracted from performance.
Netflix Inc., Nike Inc. and Exxon Mobil Corp. detracted from performance.
Portfolio activity
The sub-advisor added Amazon.com Inc., Nintendo Co. Ltd., Verisk Analytics Inc., ASML Holding NV and Bentley Systems Inc. during the quarter. The sub-advisor sold The Estee Lauder Cos. Inc.
Outlook
The sub-advisor searches global equity markets for attractively valued companies and doesn’t incorporate macro forecasting into its investment process. In the sub-advisor’s view, a focus on company-level valuation may identify opportunities across global markets over time, regardless of near-term macroeconomic conditions.
Summary
For the period 10/05/2009 through 07/31/2026 with $10,000 CAD investment
Total returns performance
326.23%
Last price
$42.62 CAD
as of market close 07/31/2026
Value of $10,000 investment
$42,623.22 CAD
