This was the top performing Canadian equity fund in the first quarter, with a gain of 4.97%, outpacing both the category average and the S&P/TSX Composite Index.
It has about half the fund invested outside of Canada, which helped boost performance, thanks in part to a falling Canadian dollar. It is fairly defensively positioned, underweight materials and energy, and overweight more defensive sectors like healthcare and consumer defensives. A recent selloff in healthcare may weigh on returns in the next few weeks.
Looking ahead, I expect that it will continue to do what it has always done – deliver solid risk adjusted returns to investors.