Established in 2005, the C.F.G. Heward Fund is managed using the Global Balanced Mandate which strikes a balance between capital preservation and long-term growth by targeting equal weightings to equities and fixed income securities.
Objectives:
- Return: capital preservation and long-term growth
- Risk: average
Pooled fund guidelines:
- Minimum Investment: $150,000 (unless investors meet criteria for "accredited investors").
- Registered Account Eligibility: RRSP, RESP, RRIF and IPP
- Income Distributed Quarterly.
- Capital Gains Distributed Annually.
- Net Asset Value (NAV) calculated weekly and at month end.
General asset class guidelines:
- Bonds (federal, provincial, & corporate): BBB or better.
- Preferred Shares: P3 or better.
- Equities: 5% maximum allocation per position with the exception of Exchange Traded Funds (ETFs) or Unit Trusts.
Target Asset Allocation:
- 45% - 55% allocation to equities.
- 35% - 45% allocation to fixed income securities.
- 10% allocation to cash & cash equivalents.
Geographic Allocation:
- Maximum flexibility between domestic and international securities
Benchmark:
- 10% PC-Bond 91-Day T-Bill Total Return Index / 40% DEX Universe Bond Index / 25% S&P TSX Total Return Index / 25% MSCI World Index Total Return (C$).
