Fiera Capital Defensive Global Equity Fund

As at July 31, 2017 (unless otherwise indicated)

Fund Objective

To achieve over the longer term the highest possible return that is consistent with a fundamental investment philosophy through investment primarily in foreign equity securities.

To provide long-term capital appreciation through a portfolio of broadly diversified securities, by region and industry, invested primarily in the U.S. and international markets.

The Fund will, through the use of risk and portfolio management techniques, reduce the draw down potential that is typical of long only equity portfolios. This active management is expected to provide a margin of safety and, over the long term, smooth out the returns in comparison to long only equity portfolios.

Management Style

The Fiera Capital Defensive Global Equity Fund (the “Fund”) overlays risk and portfolio management techniques on a portfolio of global equity securities selected by the managers of the underlying Fiera Capital Global Equity Fund (the “Underlying Fund”). The equity portfolio of the Underlying Fund invests in best-of-breed companies with superior growth potential at attractive prices and takes a bottomup, research focused approach. There is an emphasis on stock selection rather than sector allocation within a focused yet diversified portfolio. The Fund then employs risk and portfolio management techniques on the portfolio which include purchasing put options, writing call options, and initiating stop loss limits thereby reducing equity exposure in order to ensure that downside risks are limited.

Reasons to Own the Fund

  • Provide long term capital appreciation by investing primarily in global equity securities
  • Complimented by active management expected to smooth out returns and protect against losses typical of long only equity portfolios
  • Attempt to enhance returns and reduce volatility by providing a margin of safety over the long term in comparison to long only global equity portfolios.

Fund Details

Unit price (Class B)
As at 2017/08/22
$13.5500
Asset class Global Equity
Fund type Mutual Fund
Number of holdings 48
Size $35 million
Inception September 30, 2014
Fund Codes
Class B SIC 024
Management Fees
Class B 1.20%
Distributions Semi-annual
Minimum Investment $5,000
Subsequent Investment $1,000
Pre-Authorized Cheque Plan Yes
Switches Yes
RSP Eligibility Yes
Settlement T+3

Volatility

Low to Medium
The risk level is Low to Medium

Performance (%)

Compounded returns (Class B) • As at April 30, 2017
1 Mth 3 Mths 6 Mths 1 Yr 3 Yrs 5 Yrs 10 Yrs SI
3.50 10.14 13.17 20.49 - - - 13.18
Calendar returns (Class B) • As at December 31
YTD-2017 2016 2015 2014 2012 2011 2010 2009 2008 2007 2006
12.06 -1.13 17.08 - - - - - - - -

Growth of $10,000

Characteristics

Top-10 Holdings (%)
01. Contra Future 8.3
02. Contra Future 8.2
03. Moodys Corp 5.3
04. Keyence Corp 4.6
05. Johnson & Johnson 4.2
06. Mastercard Inc Class A 4.0
07. Becton Dickinson 3.7
08. Unilever Nv Cva 3.5
09. Diageo 3.2
10. Nestle Sa 3.1
Total 48.1
Geographic Allocation (%)
United States 49.4
United Kingdom 10.4
Europe ex-UK 28.3
Japan 6.7
Asia-Pacific 5.2
Canada 0.0
Total 100.0
Sector Allocation (%)
Energy 0.0
Materials 2.9
Industrials 21.1
Consumer Discretionary 12.5
Consumer Staples 14.6
Health Care 16.3
Financials 17.9
Information Technology 13.6
Telecommunication Services 0.0
Utilities 0.0
Real Estate 0.0
ETF , Index & Others 0.0
Short Term & Currency 1.1
Total 100.0
Portfolio Risk Contribution (%)
Energy 0.0
Materials 3.8
Industrials 24.8
Consumer Discretionary 15.4
Consumer Staples 14.4
Health Care 18.1
Financials 25.0
Information Technology 17.3
Telecommunication Services 0.0
Utilities 0.0
Real Estate 0.0
ETF , Index, Futures & Others -18.7
Total 100.0

Management Team

Nadim Rizk, MBA, CFANadim Rizk, MBA, CFA

Senior Vice President and Lead Portfolio Manager, Global Equities

Nadim Rizk is a member of the Global Equity team and is the lead manager of the U.S., International and Global equity strategies.

Read biography

Mr. Rizk has over 19 years of industry experience and joined the firm in 2009. Prior experiences include positions as Head of Global Equities, Lead manager for U.S. and Global equity portfolios, as well as Senior Global Research Analyst positions at some of Canada’s leading investment management firms.

Mr. Rizk graduated from the American University of Beirut with a Bachelor of Business Administration (BBA), majoring in Finance. He later obtained a Master of Business Administration (MBA) from McGill University and also obtained the Chartered Financial Analyst (CFA) designation.

Documentation

This information is for advisors only and is not to be provided to current or potential investors. The Fiera Capital Mutual Funds (the “Funds”) are offered pursuant to a simplified prospectus. The simplified prospectus contains important information about the Funds, including their investment objective and strategies, purchase options, applicable management fees, other charges and expenses, and should be read carefully before advising a client to invest in the Funds. Commissions, trailing commissions, management and performance fees and expenses all may be associated with investments in the Funds. The Funds are not guaranteed, their values change frequently and past performance may not be repeated. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unit holder that would have reduced returns.