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Morningstar RatingTM:
3 out of 3 stars (May 31, 2022)
Portfolio Management Team:
Date of Inception:
October 13, 1992
Fund Size:
$566,809,815 (as of May 31, 2022)
Minimum Initial Purchase:
$150,000
RRSP/TFSA/RRIF Eligibility:
Yes
Management Expense Ratio:
1.00%
Net Asset Value Per Unit:
  • $44.33  CAD (as of June 24, 2022)
  • $34.28  USD (as of June 24, 2022)
Available Through an Advisor:
No, see the U.S. Equity Advisor Fund
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 U.S. based 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 -12.0% 9.8% 14.5% 9.6% 9.6%
S&P 500 Index $CAD 4.3% 11.9% 16.7% 10.3% 8.1%

Calendar Year Returns

  2021 2020 2019 2018 2017
U.S. Equity Fund $CAD 17.9% 26.9% 21.5% 3.0% 16.1%
S&P 500 Index $CAD 28.2% 16.1% 25.2% 4.0% 13.8%

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 U.S. Equity Fund - Top Holdings

Portfolio Date: May 31, 2022

  Ticker Portfolio Weight
Ciena CIEN 4.96%
Jabil JBL 4.70%
Lumentum LITE 3.98%
Qualcomm QCOM 3.90%
HP HPQ 3.84%
Bristol-Myers Squibb BMY 3.80%
II-VI IIVI 3.79%
Applied Materials AMAT 3.51%
Anthem ANTM 3.22%
SolarEdge SEDG 2.84%
Source: North Growth Management

North Growth U.S. Equity Fund - Sectors

As of May 31, 2022


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 FX Rate Foreign Income Capital Gain Foreign Income Capital Gain
2021 December 15 1.2893 - 5.28 - 8.39%
2020 December 15 1.2722 0.03 8.86 0.04% 14.46%
2019 December 13 1.3183 0.16 0.14 0.32% 0.28%
2018 December 14 1.3379 0.07 6.98 0.16% 14.57%
2017 December 15 1.2834 0.53 8.23 0.94% 14.67%
2016 December 15 1.3347 0.36 2.11 0.71% 4.22%
2015 December 15 1.3738 0.09 1.60 0.18% 3.25%
2014 December 15 1.1656 0.06 1.66 0.14% 3.99%
2013 December 15 1.0636 0.10 1.26 0.30% 3.63%