January 31, 2026
A blended-style equity fund seeking long-term growth by investing in Asian companies.
Is this fund right for you?
- You want your money to grow over a longer term.
- You want to invest in companies located in Asia or the Pacific Basin whose shares are mainly traded on Asian stock exchanges.
- You're comfortable with a high level of risk.
RISK RATING
How is the fund invested? (as of January 31, 2026)
| Name | Percent |
|---|---|
| International Equity | 99.6 |
| Income Trust Units | 0.3 |
| Cash and Equivalents | 0.2 |
| Other | -0.1 |
| Name | Percent |
|---|---|
| China | 24.0 |
| Korea, Republic Of | 18.4 |
| Taiwan | 17.8 |
| India | 13.8 |
| Australia | 13.8 |
| Hong Kong | 4.7 |
| Singapore | 3.6 |
| Malaysia | 1.2 |
| Indonesia | 0.9 |
| Other | 1.8 |
| Name | Percent |
|---|---|
| Technology | 37.3 |
| Financial Services | 23.0 |
| Exchange Traded Fund | 8.0 |
| Basic Materials | 6.8 |
| Industrial Goods | 6.0 |
| Consumer Goods | 5.2 |
| Industrial Services | 3.0 |
| Consumer Services | 2.9 |
| Healthcare | 2.3 |
| Other | 5.5 |
Growth of $10,000 (since inception)
For the period 05/14/2012 through 01/31/2026 tr.with $10,000 CAD investment, The value of the investment would be $36,664
Fund details (as of January 31, 2026)
| Top holdings | Percent (%) |
|---|---|
| Taiwan Semiconductor Manufactrg Co Ltd | 9.6 |
| Xtrackers MSCI India Swap UCITS ETF 1C (XCX5) | 6.3 |
| Alibaba Group Holding Ltd | 4.9 |
| SK Hynix Inc | 4.8 |
| Tencent Holdings Ltd | 4.6 |
| Samsung Electronics Co Ltd | 3.9 |
| Delta Electronics Inc | 3.4 |
| SK Square Co Ltd | 2.9 |
| BHP Group Ltd | 2.0 |
| Ping An Insurance Grp Co of China Ltd - Commn Cl H | 1.8 |
| Total allocation in top holdings | 44.2 |
| Portfolio characteristics | Value |
|---|---|
| Standard deviation | 12.50% |
| Dividend yield | 2.17% |
| Yield to maturity | - |
| Duration (years) | - |
| Coupon | - |
| Average credit rating | Not rated |
| Average market cap (million) | $409,732.4 |
Understanding returns
Annual compound returns (%)
| 1 MO | 3 MO | YTD | 1 YR |
|---|---|---|---|
| 9.45 | 24.86 | 9.45 | 34.88 |
| 3 YR | 5 YR | 10 YR | INCEPTION |
|---|---|---|---|
| 16.27 | 6.85 | 9.73 | 9.93 |
Calendar year returns (%)
| 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|
| 26.08 | 18.70 | 3.21 | -10.14 |
| 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|
| -3.98 | 20.73 | 15.71 | -7.95 |
Range of returns over five years (June 01, 2012 - January 31, 2026)
| Best return | Best period end date | Worst return | Worst period end date |
|---|---|---|---|
| 14.26% | Feb 2021 | -0.93% | Oct 2022 |
| Average return | % of periods with positive returns | Number of positive periods | Number of negative periods |
|---|---|---|---|
| 6.77% | 99 | 104 | 1 |
Q4 2025 Fund Commentary
Commentary and opinions are provided by Canada Life Asset Management.
Market commentary
Asia-Pacific equity markets had mixed performance over the fourth quarter of 2025. The South Korean market advanced to multi-week and record highs, supported by strong information technology earnings, sustained demand for semiconductors and artificial intelligence (AI)-related exports. Chinese equities lagged because of slower economic momentum and ongoing policy uncertainty.
Equity markets across Southeast Asia and India showed broadly positive performance. India remained a regional standout, supported by resilient domestic demand and investor confidence in its long-term structural growth. Southeast Asian countries, such as Vietnam and Indonesia, benefited from improving exporting conditions.
U.S.-China relations remained stable but cautious, characterized by selective engagement amid ongoing strategic rivalry. While both countries signalled a willingness to prevent further economic escalation, tensions persisted around technology control, supply chain security and geopolitical issues.
Performance
The Fund’s overweight exposures to SK Square Co. Ltd. and SK Hynix Inc. contributed to performance. The stocks of these companies benefited from momentum in the AI space. Underweight exposure to Samsung Electronics Co. Ltd. detracted from performance, as did holdings in Alibaba Group Holding Ltd. and JD.com Inc. Alibaba Group Holding was challenged by softer earnings and slower revenue growth. JD.com saw slowing sales growth and increased regulatory scrutiny.
At the sector level, exposure to the financials, information technology and materials sectors contributed to the Fund’s performance. Exposure to the energy, industrials and communication services sectors detracted from performance.
Portfolio activity
The sub-advisor reduced the Fund’s holding in SK Square to realize gains following strong share price performance.
Outlook
The sub-advisor’s outlook for Asia-Pacific equities is optimistic, supported by easing global monetary conditions and resilient domestic demand. Growth in technology, AI and supply chain sectors should also support markets. Taiwan and South Korea are likely to benefit from sustained semiconductor investment, while India and Southeast Asia should benefit from structural growth drivers and improving corporate earnings. China’s recovery is dependent on the effectiveness of policy support, confidence stabilization and geopolitical risks.
Overall, the sub-advisor believes that Asia-Pacific markets are well-positioned for growth in 2026. However, the sub-advisor will monitor potential risks, including geopolitical developments and currency fluctuations, which could impact market performance.
Summary
For the period 05/14/2012 through 01/31/2026 with $10,000 CAD investment
Total returns performance
266.64%
Last price
$36.66 CAD
as of market close 01/31/2026
Value of $10,000 investment
$36,664.15 CAD
