Morningstar RatingTM:
N/A
Portfolio Management Team:
Date of Inception:
October 13, 1992
Fund Size:
$677,983,144 (as of May 31, 2024)
Minimum Initial Purchase:
$150,000
RRSP/TFSA/RRIF Eligibility:
Yes
Management Expense Ratio:
1.00%
Net Asset Value Per Unit:
  • $61.94  CAD (as of June 18, 2024)
  • $45.14  USD (as of June 18, 2024)
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 Rates of Return for periods ended May 31, 2024

  1 Year 5 Years 10 Years 15 Years 20 Years
U.S. Equity Fund $CAD 26.37% 13.22% 12.76% 14.73% 9.76%
S&P 500 Index $CAD 28.51% 15.99% 15.31% 16.27% 10.20%

Calendar Year Returns

  2023 2022 2021 2020 2019
U.S. Equity Fund $CAD 18.21% -19.06% 17.88% 26.85% 21.53%
S&P 500 Index $CAD 23.32% -12.52% 28.16% 16.07% 25.18%

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, 2024

  Ticker Portfolio Weight
Applied Materials AMAT 6.54%
Jabil JBL 6.38%
Ciena CIEN 4.75%
Motorola Solutions MSI 3.86%
Coherent COHR 3.70%
Qualcomm QCOM 3.27%
HP HPQ 3.25%
Elevance Health ELV 2.82%
Brinker International EAT 2.79%
Abercrombie & Fitch ANF 2.62%
Source: North Growth Management

North Growth U.S. Equity Fund - Sectors

As of May 31, 2024


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
2022 December 15 - - - - -
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%