|
Fund Facts
as at April 30, 2013
| Fund Codes | Class A | Corporate Class |
| ISC | CIG691 | CIG2310 |
| DSC | CIG891 | CIG3310 |
| LSC | CIG1891 | CIG1310 |
| Managed By: | CI Investments Inc. |
| Advisors: | Harbour Advisors |
| Assets Under Management*: | $2,707.0 million |
| Portfolio Manager: | Stephen Jenkins and Gerald Coleman |
| Asset Class: | Canadian Balanced |
| Inception Date: | June 1997 |
| NAV: | $18.86 |
| Min. Initial Investment: | $500 |
| Subsequent Purchase(s): | $50 |
| Min. PAC Investment: | $50 |
| Management Expense Ratio: | 2.43% |
Top Holdings
as at April 30, 2013
| Bank of New York Mellon | - |
| Bank of Nova Scotia | - |
| CIBC | - |
| Diageo PLC | - |
| Discover Financial Services | - |
| George Weston | - |
| Gov't of Canada, 4.25%, December 1, 2021 | - |
| Intact Financial | - |
| Microsoft | - |
| Suncor Energy | - |
| Total | 39.80% |
Volatility Meter
|
|
| Low | High |
|
Based on 3-year standard deviation relative to other funds in its category, from Globe Investor. |
|
Equity Style and Capitalization Overview
| Blend | Growth | Value | |
| Large | |||
| Mid | |||
| Small |
(Class A)
Harbour Growth & Income Fund (Class A units)Also available: Class F & I
Objective
This fund's objective is to obtain long-term total return through a prudent balance of income and capital appreciation. It invests primarily in equity and equity-related securities of mid- to large-capitalization Canadian companies and fixed income securities issued by Canadian governments and companies. The proportion of the fund's assets invested in equity and fixed income securities may vary according to market conditions. Any change to the investment objective must be approved by a majority of votes cast at a meeting of unitholders held for that reason.
Compound Returns and Quartile Rankings
as at April 30, 2013
This table shows the historical annual compound total return of the fund compared with the Globefund Group Average and the fund's quartile ranking within the Globefund Peer Group. The returns listed below are percentages. Performance of the fund versus its official benchmark can be found in the Management Report of Fund Performance (MRFP). See the related document section on this web page.
| YTD | 1Mo | 3Mo | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception* | |
| Qrtl | 2 | 3 | 3 | 3 | 3 | 3 | 2 | {N/A} |
| Return | 4.14 | 0.21 | 1.4 | 3.51 | 2.41 | 0.54 | 5.94 | 5.22 |
| Grp Avg | 4.53 | 0.57 | 2.33 | 6.45 | 4.15 | 1.76 | 5.74 | {N/A} |
Performance Data
This chart shows you the fundīs annual performance and how an investment would have changed over time.
Current Value of a $10,000 Investment
Asset Class as at April 30, 2013
Equity Sectors as at April 30, 2013
Geographic Composition as at April 30, 2013
Fund Advisor Profile
Harbour Advisors was established in 1997 to provide above-average long-term returns by investing in easy-to-understand, quality businesses. Gerry Coleman, who has managed money for institutions and mutual funds for over 35 years, and Stephen Jenkins are the lead portfolio managers. The Toronto-based team manages more than $16 billion in assets.Commentary
As at March 31, 2013
The Canadian market, after years of being a shining star on the global stock scene has in recent times lost its lustre. Energy companies together with materials companies currently make up over 40% of the S&P/TSX Composite Index today. At Harbour, we build our portfolios from the bottom up on a company-by-company basis, and they can look quite different from the averages.
In our domestic portfolios, companies that contributed meaningfully to positive results were Abbvie (formerly part of Abbott Labs), CN Rail, Diageo, Discover Financial, Dundee, and Tim Hortons. Notable detractors were all commodity-related companies and included Barrick Gold, BHP Billiton, and Suncor Energy.
In our foreign portfolios, strong share price appreciation in recent months has boosted valuations of a number of our holdings and in several names we took advantage of this strength to adjust weightings downward. We eliminated holdings of Parker Hannifin, Penn West, Suncor, and Philips Electronics, while we reduced our weightings in Aryzta, Atlas Copco, BAE Systems, CVS Caremark, Diageo, Discover Financial, GlaxoSmithKline, Kerry Group, Kingspan Group, MasterCard, Puma and Wincor Nixdorf.
In Harbour Voyageur, we were very active during the quarter. We eliminated our positions in Freeport-McMoRan Copper & Gold, General Electric and Pioneer Natural Resources. With regards to General Electric and Pioneer Natural Resources, we booked gains as their share prices approached what we deemed to be fair value. We harvested some gains in MasterCard after a strong advance in its shares.
Subsequent to quarter-end, world markets have experienced general weakness, which we attribute to normal and overdue corrective market forces. This type of market activity, while unsettling, is a normal part of any sustained bull market landscape and we view such pull-backs as a likely opportunity to selectively add to our holdings.
Source: The Globe and Mail Inc.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. *Assets under management are as at the end of the most recent quarter ending March 31, June 30, September 30 or December 31.