A portfolio fund aiming to provide a balance between income and long-term growth.
Is this fund right for you?
- You want investment income and you want your money to grow over time.
- You want to invest in both equity funds and fixed-income funds (up to 40 per cent).
- You're comfortable with a low to medium level of risk.
Risk Rating
How is the fund invested?
(as of June 30, 2025)
Asset allocation (%)
|
Name |
Percent |
|
Domestic Bonds |
26.8 |
|
US Equity |
23.8 |
|
International Equity |
17.2 |
|
Canadian Equity |
17.0 |
|
Foreign Bonds |
7.2 |
|
Cash and Equivalents |
4.6 |
|
Income Trust Units |
0.6 |
|
Other |
2.8 |
Geographic allocation (%)
|
Name |
Percent |
|
Canada |
32.0 |
|
United States |
28.5 |
|
North America |
16.8 |
|
Multi-National |
2.8 |
|
United Kingdom |
2.4 |
|
China |
1.6 |
|
Ireland |
1.5 |
|
France |
1.5 |
|
Japan |
1.3 |
|
Other |
11.6 |
Sector allocation (%)
|
Name |
Percent |
|
Fixed Income |
34.9 |
|
Financial Services |
12.9 |
|
Technology |
12.3 |
|
Consumer Services |
5.1 |
|
Cash and Cash Equivalent |
4.6 |
|
Healthcare |
4.3 |
|
Industrial Goods |
4.2 |
|
Consumer Goods |
4.0 |
|
Industrial Services |
3.8 |
|
Other |
13.9 |
Growth of $10,000
(since inception)
Data not available based on date of inception
Fund details
(as of June 30, 2025)
| Top holdings |
% |
| Canada Life Canadian Core Fixed Income Fund Series R |
16.6 |
| Cash and Cash Equivalents |
3.7 |
| Canada Life Global Multi-Asset Defensive+ Fund R |
1.8 |
| Microsoft Corp |
1.5 |
| Royal Bank of Canada |
1.2 |
| Amazon.com Inc |
1.1 |
| NVIDIA Corp |
1.1 |
| Canada Life Global Inflation-Linked Fixed Income S |
1.0 |
| Apple Inc |
0.9 |
| Canada Government 3.25% 01-Jun-2035 |
0.9 |
| Total allocation in top holdings |
29.8 |
| Portfolio characteristics |
|
| Standard deviation |
7.7% |
| Dividend yield |
1.9% |
| Yield to maturity |
- |
| Duration (years) |
- |
| Coupon |
- |
| Average credit rating |
Not rated |
Understanding returns
Annual compound returns (%)
| 1 MO |
3 MO |
YTD |
1 YR |
| {{snapShot.Return1Mth|customNumber:1}} | {{snapShot.Return3Mth|customNumber:1}} | {{snapShot.ReturnYTD|customNumber:1}} | {{snapShot.Return1Yr|customNumber:1}} |
| 3 YR |
5 YR |
10 YR |
INCEPTION |
| {{snapShot.Return3Yr|customNumber:1}} | {{snapShot.Return5Yr|customNumber:1}} | {{snapShot.Return10Yr|customNumber:1}} | {{snapShot.ReturnInception|customNumber:1}} |
Calendar year returns (%)
|
2024 |
2023 |
2022 |
2021 |
| {{snapShot.Return1YrCalendar|customNumber:1}} | {{snapShot.Return2YrCalendar|customNumber:1}} | {{snapShot.Return3YrCalendar|customNumber:1}} | {{snapShot.Return4YrCalendar|customNumber:1}} |
|
2020 |
2019 |
2018 |
2017 |
| {{snapShot.Return5YrCalendar|customNumber:1}} | {{snapShot.Return6YrCalendar|customNumber:1}} | {{snapShot.Return7YrCalendar|customNumber:1}} | {{snapShot.Return8YrCalendar|customNumber:1}} |
Range of returns over five years
(February 1, 2001 - August 31, 2025)
| Best return |
Best period end date |
Worst return |
Worst period end date |
|
10.8% |
Feb. 2014 |
-0.4% |
Feb. 2009 |
| Average return |
% of periods with positive returns |
Number of positive periods |
Number of negative periods |
|
5.3% |
99.6% |
235 |
1 |
Q2 2025 Fund Commentary
Market commentary
Global equities rose over the second quarter of 2025 and outperformed global bonds, which posted a small gain (all returns in Canadian-dollar terms on a total return basis). The U.S. paused higher tariffs as it worked on trade deals. Late in the quarter, the U.S. and China reached a framework for a trade deal.
The U.S. equity market gained, with strong performance from the information technology sector. Canadian equities increased and outperformed U.S. equities. Information technology was the strongest-performing sector in the Canadian equity market. EAFE equities advanced, outperforming U.S. equities but underperforming Canadian equities.
Italy and Spain contributed to the performance of EAFE equities. Emerging markets equities also gained and outperformed their developed market peers, with Taiwan and India contributing to performance.
The FTSE Canada Universe Bond Index posted a total loss of 0.6% over the quarter. As government yields moved higher, government bond prices declined. Government bonds underperformed corporate bonds, which posted a small gain.
Corporate bond prices benefited from narrowing credit spreads (the difference in yield between corporate and government bonds). Real estate bonds posted the largest increase in the corporate sector. High-yield bond prices rose on a total return basis and outperformed investment-grade corporate bonds.
Global bond yields declined over the quarter, and global bond prices increased. The European Central Bank and the Bank of England lowered their policy interest rates. The Bank of Canada, the U.S. Federal Reserve Board and the Bank of Japan held interest rates steady.
The yield on 10-year Government of Canada bonds rose from 2.97% to 3.27%, while government yields in the U.S. were largely unchanged. Government yields in the U.K., Germany and Japan declined.
Performance
Active management in American Growth, Emerging Markets Equity and Canadian Small-Mid Cap was positive for performance.
An allocation to American Growth had a positive impact on performance because of stock selection in the industrials, financials, health care and energy sectors.
Exposure to Canadian Small-Mid Cap was positive for performance because of stock selection in the financials, materials, health care and consumer discretionary sectors.
Exposure to U.S. Growth Fund had a negative impact on performance because of stock selection in the information technology, financials, industrials and health care sectors. Exposure to U.S. Value was also negative because of stock selection in the industrials, health care and communication services sectors.
Portfolio activity
The sub-advisor did not make any changes to the Portfolio during the quarter.
Outlook
The near-term equity outlook is uncertain, in the sub-advisor’s view. With a Middle East ceasefire holding, inflation trending lower and the S&P 500 Index at record highs, markets appear strong. However, vulnerabilities persist.
The pause on U.S.-China tariffs remains fragile. Economic sentiment in Europe is flat, and China’s growth is below its targets. Economic data in the U.S. is likely to weaken, in the sub-advisor’s view. The sub-advisor has positioned the Portfolio for this uncertain environment.
Within fixed income, the sub-advisor believes liquidity and flexibility remain important, since interest-rate cut expectations are now delayed. The sub-advisor has a preference for resilience, not yield maximization. This environment highlights the value of differentiated strategies, in the sub-advisor’s view.
At quarter end, the sub-advisor was building exposure to private credit, real assets and liquid alternative strategies to diversify the Portfolio. The sub-advisor aims to create a Portfolio that can weather a range of outcomes, through diversification, quality and flexibility.