Morningstar RatingTM:
(March 31, 2019)
Portfolio Managers:
Date of Inception:
October 13, 1992
Fund Size:
$538,572,272 (as of March 31, 2019)
Minimum Initial Purchase:
$150,000
RRSP/TFSA/RRIF Eligibility:
Yes
Management Expense Ratio:
1.00%
Net Asset Value Per Unit:
  • $46.91  CAD
  • $34.82  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 8.1% 13.2% 16.1% 8.9% 10.9%
S&P 500 Index $CAD 13.5% 15.2% 16.6% 8.7% 5.4%

Calendar Year Returns

  2018 2017 2016 2015 2014
U.S. Equity Fund $CAD 3.0% 16.1% 3.8% 20.8% 21.7%
S&P 500 Index $CAD 4.0% 13.8% 8.6% 21.0% 24.0%

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: March 31, 2019

  Ticker Portfolio Weight
Cisco Systems CSCO 5.74%
First Solar Inc. FSLR 4.23%
Celgene CELG 3.70%
Intel INTC 3.67%
American Eagle Outfitters AEO 3.25%
Applied Materials AMAT 3.15%
Ciena CIEN 2.68%
Amgen AMGN 2.51%
Zimmer Biomet ZBH 2.43%
Jabil JBL 2.35%
Source: North Growth Management

North Growth U.S. Equity Fund - Sectors

As of March 31, 2019


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
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%