Morningstar RatingTM:
N/A
Portfolio Management Team:
Date of Inception:
September 1, 2000
Fund Size:
$45,445,394 (as of August 31, 2025)
Minimum Initial Purchase:
$150,000
RRSP/TFSA/RRIF Eligibility:
Yes
Management Expense Ratio:
1.00%
Net Asset Value Per Unit:
$29.87  CAD (as of September 10, 2025)
Available Through an Advisor:
No, see the Canadian Equity Fund, Series D and Series F
Investment Growth

Investment Strategy

The objective of the Fund is to achieve long term growth and capital appreciation according to our “Growth at a Reasonable Price” philosophy. The Fund invests in equity securities of Canadian based corporations, avoiding the tobacco and oil and gas industries. On occasion, Treasury bills or short-term cash equivalents may be held.


Performance

Annualized Rates of Return for periods ended August 31, 2025

  1 Year 3 Years 5 Years 10 Years
Canadian Equity Fund Series N $CAD 17.84% 11.25% 12.30% 10.49%

Calendar Year Returns

  2024 2023 2022 2021 2020
Canadian Equity Fund Series N 15.70% 2.20% -7.25% 19.76% 20.50%
The Fund’s detailed performance record can be viewed by visiting the Returns Page and the Charts Page.

Fund Holdings and Equity Sector Weights

North Growth Canadian Equity Fund - Top Holdings

Portfolio Date: August 31, 2025

  Ticker Portfolio Weight
Bombardier Cl B BBD.B 9.61%
Leon's Furniture LNF 8.41%
Bird Construction BDT 5.87%
ATS Corporation ATS 5.31%
Constellation Software CSU 4.39%
Zymeworks Inc ZYME 4.34%
AutoCanada ACQ 3.62%
Aritzia Inc ATZ 3.57%
MDA Space MDA 3.45%
TFI International TFII 3.35%
Source: North Growth Management

North Growth Canadian Equity Fund - Sectors

As of August 31, 2025


Tax Information

The Fund’s realized income and capital gains are accumulated throughout the year and distributed on a pro rata basis in December. 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 Capital Gain Capital Gain
2024 December 13 0.62 2.26%
2023 December 15 0.50 2.10%
2022 December 15 0.34 1.33%
2021 December 15 1.52 5.39%
2020 December 15 1.89 7.32%
2019 December 13 0.51 2.34%
2018 December 14 0.69 4.02%
2017 December 15 1.54 6.90%
2016 December 15 1.22 6.77%
2015 December 15 - -
2014 December 15 1.52 7.46%