Fiera Capital High Income Fund

As at October 31, 2017 (unless otherwise indicated)

Fund Objective

The objective of the Fund is to provide a high level of income along with moderate capital growth by primarily investing in a diversified portfolio of Canadian securities, including real estate investment trusts (REITs), income trusts, fixed-income securities and high-yielding equities.

Management Style

The fund may invest across a broad range of income-generating securities. When choosing equities, attention is paid to companies that pay a sustainable dividend, generate strong cash flows and are attractively valued on a risk-adjusted basis.

Reasons to Own the Fund

  • Focused on equities that pay a sustainable dividend, generate strong cash flows and are attractively valued
  • Straight-forward decision-making process, consistently applied in all markets
  • Monthly distribution targeted between 5% to 7% per annum

Fund Details

Unit price (Series D)
As at 2017/12/08
$17.8836
Asset class Canadian Dividend and Income Equity
Number of holdings 91
Size $23 million
Inception September 7, 2001
Fund Codes
Series D SIC 009
Management Fees
Series D 1.25%
Distributions Monthly
Minimum Investment $500
Subsequent Investment $100
Pre-Authorized Cheque Plan Yes
Switches Yes
RSP Eligibility Yes
Settlement T+2

Volatility

Medium
The risk level is Medium

Performance (%)

Compounded returns (Series D) • As at October 31, 2017
1 Mth 3 Mths 6 Mths 1 Yr 3 Yrs 5 Yrs 10 Yrs SI
1.03 1.97 0.27 7.77 2.62 7.60 4.43 9.54
Calendar returns (Series D) • As at December 31
YTD-2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007
3.41 24.74 -13.14 2.16 21.90 8.03 0.09 19.07 27.97 -31.52 7.86

Growth of $10,000

Characteristics

Top 10 Holdings (%)
01. Bank of Nova Scotia 5.6
02. Enbridge Inc. 5.6
03. TransCanada Corp 4.9
04. Royal Bank of Canada 4.9
05. Pembina Pipeline 3.9
06. Telus Corp. 3.3
07. Enbridge Inc. Preferred Serie R 3.2
08. Agrium Inc 2.9
09. PayChex Inc. 2.8
10. Shaw Communications Class B Non Vtg 2.8
Total 39.9
Asset Allocation (%)
Dividend Equities + Covered Calls 75.8
Preferred Shares 10.0
Secured Put Strategy 5.6
Global Opportunistic Income 8.7
Total 100.0
Sector Allocation (%)
Energy 24.5
Materials 5.1
Industrials 3.3
Consumer Discretionary 6.1
Consumer Staples 0.0
Health Care 0.0
Financials 30.0
Information Technology 6.1
Telecommunication Services 8.1
Utilities 6.8
Total 100.0
Equity Geographic allocation (%)
Canada 78.6
United Kingdom 3.5
United States 15.7
Mexico 2.2
Total 100.0

Management Team

Candice Bangsund, CFACandice Bangsund, CFA

Vice President and Portfolio Manager, Global Asset Allocation

Candice Bangsund is a member of the Asset Allocation committee, focusing on central banks and fundamental macro analysis. She also actively participates in the development and communication of the Asset Allocation strategy.

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Candice Bangsund is a member of the Asset Allocation committee, focusing on central banks and fundamental macro analysis. She also actively participates in the development and communication of the Asset Allocation strategy.

Ms. Bangsund’s career in the investment industry spans almost eleven years, including eight years as an Investment Research Analyst for Franklin Templeton. While working with Franklin Templeton and the Franklin Templeton Global Asset Allocation Committee, she gained extensive experience with global macroeconomic research for asset classes, regions, sectors, commodities, and currencies. She also conducted multi-manager fund research and analysis with a focus on Canadian and Global Equity asset classes.

Ms. Bangsund obtained her Chartered Financial Analyst designation in 2009. She is a 2003 graduate of the University of Regina in Finance.

François Bourdon, FCIA, FSA, CFA, PRMFrançois Bourdon, FCIA, FSA, CFA, PRM

Chief Investment Solutions Officer

François Bourdon is Chief Investment Solutions Officer at Fiera Capital. In this role, Mr. Bourdon supports our business units in the development of new investment strategies, in collaboration with the CIO Office.

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He is also responsible for communicating Fiera Capital’s views related to the economy and investments and is jointly responsible for asset allocation decisions as well as for the management of the Global Bond, Multi Strategy Income and other non-traditional income strategies.

Mr. Bourdon has 21 years of industry experience and has been with the firm since its inception. Over the course of his career, he has held various positions including Associate Chief Investment Officer, Portfolio Manager - Quantitative Research, Director - Sales Strategies and Product Development as well as a consultant with leading Canadian investment management and life insurance organizations.

Mr. Bourdon graduated from Concordia University with a Bachelor of Mathematics (BMath) with a major in Actuarial Sciences. He later became a Fellow of the Society of Actuaries (FSA) and a fellow of the Canadian Institute of Actuaries (FCIA). He also obtained the Chartered Financial Analyst (CFA) and Professional Risk Manager (PRM) designations.

Michael Brown, CPA, CA, CFAMichael Brown, CPA, CA, CFA

Vice President and Portfolio Manager, Equities

Michael Brown is a member of the Canadian Equity Value team, is the lead portfolio manager for the Canadian High Income Equity strategy and contributes to the management of the Canadian Equity Value strategy.

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Mr. Brown has 13 years of industry experience and has been with the firm and a predecessor since 2005. Prior experiences include positions as Assistant Portfolio Manager, Investment Analyst and Senior Associate at leading Canadian investment management firms.

Mr. Brown graduated from the University of Alberta with a Bachelor of Commerce (BComm), majoring in Accounting. He also obtained the Chartered Professional Accountant (CPA), Chartered Accountant (CA) and Chartered Financial Analyst (CFA) designations.

Nicolas Normandeau, M.Sc., CFANicolas Normandeau, M.Sc., CFA

Vice President and Portfolio Manager, Fixed Income

Nicolas Normandeau is a member of the Integrated Fixed Income team and is a portfolio manager for the Integrated Fixed Income strategies, including the team’s Preferred Shares portfolios.

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Nicolas Normandeau is a member of the Integrated Fixed Income team and is a portfolio manager for the Integrated Fixed Income strategies, including the team’s Preferred Shares portfolios.

Mr. Normandeau has 13 years of industry experience and has been with the firm and a predecessor since 2009. Prior experiences include positions as Wealth Management Analyst for a leading Canadian financial institution and a consulting firm.

Mr. Normandeau graduated from the Université de Sherbrooke with a Bachelor of Business Administration (BBA), majoring in Finance. He later received a Master’s in Management degree (MSc) in Finance from the Université de Sherbrooke as well as the Chartered Financial Analyst (CFA) designation.

Alexandre Hocquard, Ph.D.Alexandre Hocquard, Ph.D.

Vice President and Senior Portfolio Manager, Systematic Investment Solutions

Alexandre Hocquard is Co-Leader and Lead Portfolio Manager of Fiera Capital’s Systematic Investment Solutions (SIS) team. He oversees the management of several systematic investment and market risk management strategies.

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Alexandre Hocquard is Co-Leader and Lead Portfolio Manager of Fiera Capital’s Systematic Investment Solutions (SIS) team. He oversees the management of several systematic investment and market risk management strategies.

Mr. Hocquard has 11 years of experience in the investment field and joined the Firm in 2016. He previously held positions as Lead Portfolio Manager, Customized Systematic and Quantitative Strategies, with major investment management firms. He also worked as a Portfolio Manager, Alternative Strategies, for a Canadian institution.

Mr. Hocquard holds a doctorate (Ph.D.) in Quantitative Methods from HEC Montréal and has published several scientific papers in university and institutional journals.

Documentation

Please read the simplified prospectus before investing. The amount of risk associated with any particular investment depends largely on your own personal circumstances including your time horizon, liquidity needs, portfolio size, income, investment knowledge and attitude toward price fluctuations. Investors should consult their financial advisor before making a decision as to whether this fund is a suitable investment for them.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

The rate of return or mathematical table shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the mutual fund or returns on investment in the mutual fund. 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 unitholder that would have reduced returns.