| Fund Company | Dynamic Funds |
| Fund Type | Canadian Neutral Balanced |
| Rating | B |
| Style | Growth |
| Risk Level | Medium |
| Load Status | Optional |
| RRSP/RRIF Suitability | Fair |
| TFSA Suitability | Fair |
| Manager | Adam Donsky since November 2009
Domenic Bellissimo since September 2012 |
| MER | 2.43% |
| Code | DYN 202 – Front End Units
DYN 312 – DSC Units |
| Minimum Investment | $500 |
Analysis: This Dynamic offering is a pretty standard balanced fund that invests in a mix of stocks and bonds. Adam Donsky is responsible for the equity sleeve, while Domenic Bellissimo looks after the bond exposure. At the end of December, it held about 5% in cash, 30% in fixed income and the rest in equities. The overwhelming majority of the equity exposure is predominantly outside of Canada.
The manager is somewhat benchmark agnostic and will focus on finding what he believes to be the best in class opportunities available. Equities are selected using a value focused approach that looks for companies with proven track records, sustainable competitive advantages, and strong management teams. They focus on the company, and not the market.
The equity exposure is heavily weighted towards consumer focused and industrial sectors. It had no exposure to real estate, communications, healthcare or utilities. The fixed income sleeve is focused on corporate bonds.
Looking at the fund’s performance, both returns and volatility have been middle of the pack. I expect you will get benchmark like returns with benchmark like risk in most market types. With an MER of 2.43%, its cost is slightly above average.
Overall, this isn’t a bad fund, but there is nothing spectacular about it. I don’t think it will hurt you too badly, but I also don’t expect it do surprise to the upside. In my opinion, there are better balanced funds available. A couple that immediately come to mind are the CI Signature High Income Fund and the Fidelity Canadian Balanced Fund.