January 31, 2026
The fund seeks long-term capital growth by investing primarily in equities of companies outside Canada and the United States.
Is this fund right for you?
- Investors who are looking for an international equity fund to hold as part of their portfolio
- Want a medium-to long-term investment
- Can handle the volatility of stock markets
RISK RATING
How is the fund invested? (as of November 30, 2025)
| Name | Percent |
|---|---|
| International Equity | 97.6 |
| Cash and Equivalents | 2.4 |
| Name | Percent |
|---|---|
| Ireland | 24.1 |
| France | 12.6 |
| Switzerland | 10.2 |
| Japan | 8.5 |
| Denmark | 5.5 |
| Thailand | 5.4 |
| Germany | 4.8 |
| United Kingdom | 4.6 |
| Korea, Republic Of | 4.4 |
| Other | 19.9 |
| Name | Percent |
|---|---|
| Healthcare | 24.3 |
| Financial Services | 16.1 |
| Industrial Goods | 15.4 |
| Consumer Goods | 14.2 |
| Technology | 11.4 |
| Energy | 6.2 |
| Industrial Services | 3.8 |
| Real Estate | 3.2 |
| Telecommunications | 2.9 |
| Other | 2.5 |
Growth of $10,000 (since inception)
For the period 10/22/2018 through 01/31/2026 tr.with $10,000 CAD investment, The value of the investment would be $16,727
Fund details (as of November 30, 2025)
| Top holdings | Percent (%) |
|---|---|
| Samsung Electronics Co Ltd | 4.4 |
| Roche Holding AG - Partcptn | 4.3 |
| Crh PLC | 4.3 |
| Bank of Ireland Group PLC | 4.2 |
| Ryanair Holdings PLC - ADR | 3.8 |
| Nabtesco Corp | 3.8 |
| Deutsche Boerse AG Cl N | 3.5 |
| Steris PLC | 3.5 |
| Dcc PLC | 3.5 |
| Thai Beverage PCL | 3.5 |
| Total allocation in top holdings | 38.8 |
| Portfolio characteristics | Value |
|---|---|
| Standard deviation | 8.5% |
| Dividend yield | 2.5% |
| Yield to maturity | - |
| Duration (years) | - |
| Coupon | - |
| Average credit rating | Not rated |
| Average market cap (million) | $178,142.5 |
Understanding returns
Annual compound returns (%)
| 1 MO | 3 MO | YTD | 1 YR |
|---|---|---|---|
| 4.2 | 15.3 | 4.2 | 20.8 |
| 3 YR | 5 YR | 10 YR | INCEPTION |
|---|---|---|---|
| 15.6 | 9.8 | - | 7.3 |
Calendar year returns (%)
| 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|
| 21.5 | 13.9 | 13.7 | -10.2 |
| 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|
| 9.0 | -4.2 | 9.7 | - |
Range of returns over five years (November 01, 2018 - January 31, 2026)
| Best return | Best period end date | Worst return | Worst period end date |
|---|---|---|---|
| 11.1% | Oct 2025 | 0.9% | Oct 2023 |
| Average return | % of periods with positive returns | Number of positive periods | Number of negative periods |
|---|---|---|---|
| 5.9% | 100 | 28 | 0 |
Q3 2025 Fund Commentary
Market commentary
EAFE equities delivered gains, with the MSCI EAFE Index up 6.8% (in Canadian dollar terms). In Europe, banks were the strongest performers, driven by both a steepening yield curve and expectations for higher government fiscal spending. In Asia, Japanese equities rose in September, led by companies that benefit from spending related to artificial intelligence.
Performance
The Fund’s relative exposure to Samsung Electronics Co. Ltd., CRH PLC and Legrand SA contributed to performance. Relative exposure to Deutsche Boerse AG, Demant AS and Alcon Inc. detracted from performance.
At the sector level, stock selection in information technology and materials contributed to performance. Overweight exposure to health care and underweight exposure to financials detracted from performance.
Portfolio activity
The sub-advisor added STERIS PLC and sold GSK PLC during the quarter.
Outlook
The sub-advisor looks to invest in attractively valued companies and is not driven by macroeconomic events. The sub-advisor doesn’t include any macroeconomic forecasting in the search or selection process.
Summary
For the period 10/22/2018 through 01/31/2026 with $10,000 CAD investment
Total returns performance
67.27%
Last price
$13.62 CAD
as of market close 01/31/2026
Value of $10,000 investment
$16,726.52 CAD
