Morningstar RatingTM:
(September 30, 2018)
Portfolio Managers:
Date of Inception:
October 13, 1992
Fund Size:
$553,739,896 (as of September 30, 2018)
Minimum Initial Purchase:
$150,000
RRSP/TFSA/RRIF Eligibility:
Yes
Management Expense Ratio:
1.00%
Net Asset Value Per Unit:
  • $49.13  CAD
  • $37.49  USD
Available Through an Advisor:
No, see the U.S. Equity Advisor Fund
Investment Growth

Investment Strategy

The objective of the Fund is to achieve consistent, superior, long term returns according to our “Growth at a Reasonable Price” philosophy. The Fund invests in equity securities of U.S. companies, avoiding the tobacco and oil and gas industries. On occasion, Treasury bills or short-term cash equivalents may be held.


Performance

Annualized Trailing Returns

  1 Year 5 Years 10 Years 15 Years 20 Years
U.S. Equity Fund $CAD 17.4% 16.9% 14.4% 9.7% 11.6%
S&P 500 Index $CAD 22.3% 19.3% 14.2% 9.4% 6.5%

Calendar Year Returns

  2017 2016 2015 2014 2013
U.S. Equity Fund $CAD 16.1% 3.8% 20.8% 21.7% 44.2%
S&P 500 Index $CAD 13.8% 8.6% 21.0% 24.0% 41.5%

The Fund’s detailed performance record can be viewed by visiting the Tables Page and the Charts Page.


Fund Holdings and Equity Sector Weights

North Growth U.S. Equity Fund - Top Holdings

Portfolio Date: September 30, 2018

  Ticker Portfolio Weight
Cisco Systems CSCO 5.68%
Apple AAPL 4.41%
Intel INTC 3.73%
SolarEdge SEDG 2.94%
Pfizer PFE 2.91%
American Eagle Outfitters AEO 2.87%
Amgen AMGN 2.58%
Gilead Sciences Inc. GILD 2.55%
Applied Materials AMAT 2.53%
First Solar Inc. FSLR 2.51%
Source: North Growth Management

North Growth U.S. Equity Fund - Sectors

As of September 30, 2018


Tax Information

The Fund’s realized income and capital gains are accumulated throughout the year and distributed on a pro rata basis on December 15th. All the distribution details for tax purposes are printed on T-3 slips, and unitholders of the Fund receive their T-3 tax slips by mail near the end of January of the following year.

Distribution History

  Expressed in Canadian Dollars As a Percentage of Unit Price
Year Date FX Rate Foreign Income Capital Gain Foreign Income Capital Gain
2017 December 15 1.2834 0.5282 8.2317 0.94% 14.67%
2016 December 15 1.3347 0.3575 2.1108 0.71% 4.22%
2015 December 15 1.3738 0.0867 1.6021 0.18% 3.25%
2014 December 15 1.1656 0.0568 1.6614 0.14% 3.99%
2013 December 15 1.0636 0.1034 1.2647 0.30% 3.63%