Matco Global Equity Fund (Series F)
Fund Documents [LINK] Fund Codes [LINK] As at March 31, 2022
Investment Profile
The Fund invests in global companies that have the ability to pay dividends and grow earnings. A majority of these companies are based in the U.S., Europe and Emerging Markets (such as China, Taiwan, South Korea and India).
2017
$138.2 Million
Baron Lee, CFA
1.7%
Global-focused
The Fund’s geographic profile may change over time due to the portfolio manager’s assessment of regional market conditions such as interest rates, economic growth and company earnings growth.
The Fund follows a bottom-up and top-down strategy approach. The Fund's U.S exposure is focused on 30-35 dividend-paying companies. To gain exposure to leading non-U.S. companies, the Fund invests in regional exchange-traded funds to provide portfolio diversification.
The U.S. Equity Portfolio owns companies that meet Matco’s strict investment criteria which include:
Quality
Income
Growth
Value
Risk
Learn about Matco and our investment philosophy
Understand this Fund is not intended to be a complete investment program for all investors
Ensure you have an investment time horizon of 5+ years
You understand the amount invested in any one region will vary depending on the investment opportunities
The companies’ earnings growth cycle may fluctuate over time
| As at March 31, 2021 |
Annualized
|
|||||||
|---|---|---|---|---|---|---|---|---|
| Net of Fees | 3M | YTD | 1Y | 3Y | 5Y | 7Y | 10Y | Incep. |
| Series F | -7.3% | -7.3% | 2.3% | 9.2% | - | - | - | 8.6% |
| 3M | YTD | 1Y | 3Y | 5Y | 7Y | 10Y | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Series F | -7.3% | -7.3% | 2.3% | 30.2% | - | - | - | 45.0% |
| Calendar Year Performance | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| Series F | 19.3% | 8.3% | 19.3% | -3.9% | 5.7% |
| 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|
| Income | 0.09 | 0.11 | 0.09 | 0.01 | - | - | - |
| Capital Gains | 0.63 | 0.27 | 0.22 | - | - | - | - |
| Total Distributions: | 0.72 | 0.38 | 0.31 | 0.01 | - | - | - |
| Matco U.S. Equity Strategy | 29.8% |
|---|---|
| iShares MSCI Europe IMI Index ETF | 14.8% |
| Global X U.S. Infrastructure Development ETF | 7.2% |
| iShares S&P Small-Cap 600 Value ETF | 6.9% |
| iShares S&P Small-Cap 400 Value ETF | 6.9% |
| VanEck Vietnam ETF | 6.4% |
|---|---|
| iShares Core MSCI Emerging Markets IMI Index ETF | 6.0% |
| Evolve European Banks Enhanced Yield ETF | 5.5% |
| iShares MSCI Japan Index ETF (USD-Hedged) | 5.0% |
| Cash | 4.3% |
Global software and hardware company providing various services and devices for personal and business use.
Global pharmaceutical company focused on diabetes, obesity, hemophilia and growth disorders.
A distributor of wide-ranging industrial and construction products for various markets across North America.
Global provider of cloud-based solutions for human resources services such as payroll, tax, and benefits administration.
Global payments solutions provider for businesses, individuals and governments.
One of the world's largest home improvement retailers with operations in the U.S. and Canada.
Leading in providing materials engineering solutions for new semiconductor chips and advanced display technologies.
Global leader in pharmaceutical distribution and solutions for manufacturers, providers and pharmacies.
Provides global consulting for mid to large corporations regarding strategy, technology, customer experience and operations.
Manufacturer and marketer of motorcycles and related products and services.
Although we expect equities to deliver positive returns over the remainder of the current economic cycle, there are several risks to monitor over the near term: the ongoing pandemic, the situation in Ukraine, the spike in commodity prices, the bottlenecks in the global supply chain, and the concerns over higher inflation and higher interest rates. These risks will lead to volatility, but we don’t believe that these risks will lead to a recession.
We continue to believe that we are transitioning from early cycle to mid-cycle and that there are several years remaining in the current economic cycle. We favour the rest of the world over the U.S., value over growth, small and mid-caps over large caps, and cyclicals over defensives. U.S. valuations remain elevated relative to the rest of the world. Growth stocks will be under pressure as central banks begin raising interest rates. Small and mid-caps offer significant value over large caps. Cyclicals should continue to perform until global growth contracts. With that said, we believe the Fund is positioned appropriately, as long as the situation in Ukraine stabilizes.
