April 30, 2026
The fund seeks long-term capital growth by investing primarily in equities of companies located anywhere in the world, either directly or through other investment funds.
Is this fund right for you?
- Investors who are looking for a global equity fund to hold as part of their portfolio
- Want a medium-to long-term investment
- Can handle the volatility of stockmarkets
RISK RATING
How is the fund invested? (as of February 28, 2026)
| Name | Percent |
|---|---|
| US Equity | 50.1 |
| International Equity | 48.1 |
| Cash and Equivalents | 1.8 |
| Name | Percent |
|---|---|
| United States | 50.1 |
| Ireland | 11.0 |
| France | 7.1 |
| Taiwan | 4.3 |
| Switzerland | 4.1 |
| Germany | 3.9 |
| Korea, Republic Of | 3.8 |
| United Kingdom | 2.9 |
| Denmark | 2.0 |
| Other | 10.8 |
| Name | Percent |
|---|---|
| Technology | 25.7 |
| Financial Services | 17.2 |
| Industrial Goods | 12.2 |
| Consumer Goods | 10.5 |
| Healthcare | 9.9 |
| Consumer Services | 7.6 |
| Industrial Services | 4.4 |
| Energy | 4.0 |
| Utilities | 3.3 |
| Other | 5.2 |
Growth of $10,000 (since inception)
For the period 08/07/2018 through 04/30/2026 tr.with $10,000 CAD investment, The value of the investment would be $19,112
Fund details (as of February 28, 2026)
| Top holdings | Percent (%) |
|---|---|
| Taiwan Semiconductor Manufactrg Co Ltd - ADR | 4.3 |
| Microsoft Corp | 3.9 |
| Samsung Electronics Co Ltd | 3.8 |
| Alphabet Inc Cl A | 3.7 |
| Berkshire Hathaway Inc Cl B | 3.3 |
| Meta Platforms Inc Cl A | 3.0 |
| Ryanair Holdings PLC - ADR | 2.6 |
| Oshkosh Corp | 2.4 |
| Marsh & McLennan Cos Inc | 2.3 |
| Netflix Inc | 2.3 |
| Total allocation in top holdings | 31.6 |
| Portfolio characteristics | Value |
|---|---|
| Standard deviation | 10.1% |
| Dividend yield | 1.8% |
| Yield to maturity | - |
| Duration (years) | - |
| Coupon | - |
| Average credit rating | Not rated |
| Average market cap (million) | $759,175.1 |
Understanding returns
Annual compound returns (%)
| 1 MO | 3 MO | YTD | 1 YR |
|---|---|---|---|
| 4.4 | 2.4 | 2.4 | 22.7 |
| 3 YR | 5 YR | 10 YR | INCEPTION |
|---|---|---|---|
| 14.1 | 10.6 | - | 8.7 |
Calendar year returns (%)
| 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|
| 17.3 | 19.1 | 12.6 | -8.3 |
| 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|
| 21.1 | 2.3 | 12.3 | - |
Range of returns over five years (September 01, 2018 - April 30, 2026)
| Best return | Best period end date | Worst return | Worst period end date |
|---|---|---|---|
| 14.8% | Oct 2025 | 4.5% | Sep 2023 |
| Average return | % of periods with positive returns | Number of positive periods | Number of negative periods |
|---|---|---|---|
| 9.8% | 100 | 33 | 0 |
Q1 2026 Fund Commentary
Commentary and opinions are provided by Keyridge Asset Management.
Market commentary
Tensions that had been building in the Middle East for months escalated into a broader regional conflict during the first quarter of 2026, disrupting flows of oil and gas through the Strait of Hormuz. At quarter-end, the duration of the conflict, its impact on energy supplies, general supply chain implications and the potential effects on inflation, interest rates and economic growth remained uncertain. These concerns weighed on global equity markets against a backdrop of international trade tensions and generally weak consumer spending. Large-scale investment in artificial intelligence infrastructure continued to provide a partial offset to the broader weakness. A resolution of the conflict could ease these risks, but a prolonged disruption has the potential to affect many sectors and industries.
Performance
A holding in Applied Materials Inc. contributed to the Fund’s performance during the quarter. Holdings in Samsung Electronics Co. Ltd. and Keysight Technologies Inc. also contributed to performance.
At a sector level, allocation in the information technology sector contributed to the Fund’s performance.
A holding in Microsoft Corp. detracted from the Fund’s performance during the quarter. Holdings in Ryanair Holdings PLC and Booking Holdings Inc. also detracted from performance.
Stock selection in the consumer staples and health care sectors detracted from the Fund’s performance.
Portfolio activity
The sub-advisor added to the Fund holdings in Mastercard Inc., SAP SE, BNP Paribas SA, Pool Corp. and Novartis AG. The sub-advisor sold the Fund’s holdings in Electronic Arts Inc., PayPal Holdings Inc., Tryg AS, PepsiCo Inc. and The Magnum Ice Cream Co. NV.
Outlook
The sub-advisor searches global equity markets for attractively valued companies and isn’t driven by macro events. The sub-advisor doesn’t include macro forecasting in the search or selection process.
Summary
For the period 08/07/2018 through 04/30/2026 with $10,000 CAD investment
Total returns performance
91.12%
Last price
$16.82 CAD
as of market close 04/30/2026
Value of $10,000 investment
$19,112.28 CAD
