RBC Managed Portfolios
Growth investment profile
DECEMBER 31, 2015
Objective
Commentary
This portfolio focuses on providing
long-term capital growth.
This quarter, the Growth profile was helped by the slight overweight allocation to
international, U.S. and emerging market equities, which were positive over the three months.
The majority of global equity markets were positive for the quarter, with many rallying from
the volatility of the late summer and early fall. The appreciation of the U.S. dollar relative
to the Canadian dollar also added to performance. The decline in Canadian equities related
to lower oil prices and continued deceleration in China’s growth detracted slightly from
performance. Modest gains in both Canadian and global bonds contributed positively to
returns. Central banks continue to hold short-term interest rates near zero in most of the
developed world, with low inflation and slow growth in Japan and Europe continuing to
influence monetary policy. The U.S. Federal Reserve was the exception and announced their
decision to raise rates by 0.25% in December.
Fund Details
Profile inception date
Net assets
February 2000
$1,072.6 MM
Fee Tiers*
First $150,000
1.8%
Next $100,000
1.7%
Over $250,000
1.0%
Minimum fee of $1,250
Distribution frequency
Income
monthly
Capital gains
annually
Minimum investment
Based on our outlook, the asset mix of the Growth profile remains underweight fixed income
and overweight equities relative to our strategic benchmark weightings.
$100,000
Benchmark
2.0%
FTSE TMX Canada Universe
Bond Index
28.0%
Total fixed income and cash
30.0%
S&P/TSX Composite TR Index
23.0%
S&P 500 TR Index, (C$)**
25.0%
MSCI EAFE Net Index, (C$)**
16.0%
MSCI EM Net Index, (C$)
Total equity
Total
6.0%
70.0%
100.0%
*Operating expenses and applicable taxes are not
included in the fee schedule above.
** 25% hedged to C$.
Performance Analysis
December 31, 2015
Growth of $100,000
$164,545
175
150
’000s
FTSE TMX Canada
30 Day T-Bill Index
125
100
75
50
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Calendar Returns† (%)
20
Sector Mix (% equities)
November 30, 2015
10
Financials
26.5%
0
Consumer Discretionary
12.9%
-10
Information Technology
10.9%
Industrials
10.7%
Consumer Staples
9.2%
Energy
9.2%
Health Care
8.7%
Materials
4.9%
Telecommunication Services
3.4%
Utilities
3.4%
Others
0.2%
-20
-30
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
11.2
11.6
0.9
-25.3
14.7
8.3
-5.0
8.7
18.5
9.2
6.0
Trailing Returns† (%)
Profile
YTD
1 Mth
3 Mth
1 Yr
3 Yr
5 Yr
10 Yr
Since
inception
6.0
0.2
4.2
6.0
11.1
7.2
4.0
2.2
† Net of fees based on a minimum investment of $100,000.
THIS DOCUMENT IS NOT COMPLETE WITHOUT THE DISCLOSURE PAGE.
RBC Managed Portfolios – Growth investment profile
Best/Worst Periods
December 31, 2015
1 Yr
Ended
3 Yr
Ended
5 Yr
Ended
10 Yr
Ended
Best return
24.7%
Mar-04
14.7%
Mar-06
11.4%
Feb-14
5.1%
Mar-15
Worst return
-27.2%
Feb-09
-14.4%
Mar-03
-4.1%
Mar-05
-2.0%
Aug-10
Average return
2.9%
3.1%
3.0%
2.7%
Total periods
180
156
132
72
64.7%
70.5%
84.7%
Positive periods 65.6%
Profile Holdings (% of net assets)
RBC Bond Fund
December 31, 2015
6.8
20.0
22.3
26.2
December 31, 2015
CASH AND FIXED INCOME
Cash
Asset Mix (%)
24.7
Cash & Fixed Income
Canadian Equities
U.S. Equities
International Equities
Emerging Market Equities
Top 25 Holdings
November 30, 2015
22.3
1.0
Issuer
% Assets
Cash
2.5
10.8
Royal Bank of Canada
1.4
RBC Private Canadian Corporate Bond Pool
5.0
Bank of Nova Scotia
1.1
RBC Global Bond Fund
3.5
TD Bank
0.9
RBC High Yield Bond Fund
1.5
Suncor Energy Inc
0.8
BlueBay Global Monthly Income Bond Fund
0.5
Apple Inc
0.8
0.8
EQUITIES
77.7
Enbridge Inc
Canadian Equities
RBC Private Canadian Dividend Pool
24.7
3.6
Cdn National Railway
0.7
Roche Holdings AG
0.6
RBC Private Canadian Equity Pool
12.4
Manulife Financial Corp
0.6
RBC QUBE Canadian Equity Fund
5.0
Amazon Inc
0.6
3.7
Canadian Imperial Bank of Commerce
0.6
Brookfield Asset Mgt
0.6
Microsoft Corp
0.5
RBC O’Shaughnessy All-Canadian Equity Fund
U.S. Equities
RBC U.S. Equity Fund
26.2
5.9
RBC Private U.S. Large-Cap Core Equity Pool
2.8
TransCanada Corp
0.5
RBC QUBE U.S. Equity Fund
6.7
Anheuser-Busch InBev
0.5
2.0
Citigroup Inc
0.5
3.0
Bank of Montreal
0.5
2.9
Sun Life Financial Inc
0.5
2.9
Magna Intl Inc
0.5
Cdn Natural Resources Ltd
0.5
Samsung Electronic
0.5
3.5
Alphabet Inc Class A
0.4
2.4
United Health Group Inc
0.4
RBC Global Dividend Growth Fund (Int'l Holdings)
2.9
Pfizer Inc
0.4
RBC Global Equity Focus Fund (Int'l Holdings)
2.9
Total % of Top 25 Holdings
RBC U.S. Mid-Cap Value Equity Fund
RBC U.S. Small-Cap Value Equity Fund
RBC Global Dividend Growth Fund (U.S. Holdings)
RBC Global Equity Focus Fund (U.S. Holdings)
International Equities
RBC European Equity Fund
20.0
8.3
RBC Asia Pacific Ex-Japan Equity Fund
RBC Japanese Equity Fund
Emerging Market Equities
RBC Emerging Markets Equity Fund
6.8
4.0
RBC Emerging Markets Dividend Fund
1.4
RBC Emerging Markets Small-Cap Equity Fund
1.4
TOTAL
100.0
Distributions (based on a minimum investment of $100,000 reset annually)
Total distributions
Interest
2015
2014
2013
2012
2011
$4,958
$5,773
$2,905
$2,636
$2,867
43%
34%
30%
22%
22%
Dividends**
17%
10%
61%
77%
59%
Capital gains
40%
56%
9%
1%
19%
–
–
–
–
–
Return of capital
** May include dividends from foreign sources.
THIS DOCUMENT IS NOT COMPLETE WITHOUT THE DISCLOSURE PAGE.
17.7
RBC Managed Portfolios – Growth investment profile
DISCLOSURE:
The indicated rates of return for the RBC Managed Portfolios investment profiles are the historical annual compounded total returns after deduction
of fees and charges in respect of the program. Rates of return for periods of less than one year are simple rates of return. Fees are calculated based
on a minimum account size of $100,000, using the fee schedule in effect during the period. Returns are based on the total returns of the participating
RBC Private Pools (Series O) and RBC Funds including changes in unit value and reinvestment of all distributions.
Please read the account agreement and supporting documents, and the prospectus or Fund Facts document of the participating funds and pools
before investing in RBC Managed Portfolios program. Mutual funds are not guaranteed, their values change frequently and past performance may
not be repeated.
RBC Managed Portfolios is managed by RBC Global Asset Management Inc. (RBC GAM) and distributed through Royal Mutual Funds Inc. (RMFI).
Investors pay a monthly fee to RMFI based on the net asset value of the investor’s account. A portion of the monthly fee is paid to RBC GAM.
No management fees are charged by RBC GAM to the RBC Private Pools or RBC Funds in respect of the program and no sales charge or trailing
commissions are payable by investors in connection with any purchases, redemptions or switches in the program. Underlying funds and pools pay
a fixed administration fee plus applicable taxes to RBC GAM for operating expenses, as outlined in the fees and expenses section of the RBC Funds
and RBC Private Pools prospectus. RBC GAM and RMFI are separate corporate entities which are affiliated. RMFI is licensed as a financial services
firm in the province of Quebec.
® / TM Trademark(s) of Royal Bank of Canada. Used under licence.
© RBC Global Asset Management Inc. 2016
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