Institutional Funds

Investment Strategy

The Fund’s strategy is to pursue long-term capital appreciation and an above-average level of income by focusing on free cash flow metrics and capital allocation. It seeks to invest in a diversified portfolio of equity securities from around the world, focusing on companies that create shareholder value through consistent and rational allocation policies with an emphasis on dividends, share repurchases, and/or debt reduction collectively known as shareholder yield. The portfolio construction process seeks to diversify the sources of shareholder yield and reduce volatility. The Fund gains exposure by primarily holding units of the TD Emerald Global Equity Shareholder Yield Pooled Fund Trust. Foreign currency exposure is substantially hedged to Canadian dollars using currency forwards.

Investment Objective

The investment objective of the Fund is to provide growth and income by investing primarily in dividend paying equity securities and other income producing instruments of issuers from around the world, hedged into Canadian dollars.

Who Should Invest

The Fund is designed for institutional investors seeking a globally diversified portfolio capable of delivering growth and income hedged into Canadian dollars.

Fund Facts

Asset Class	Global Equity
Management Philosophy	Active Fundamental
Inception Date	July 20, 2016
Benchmark	MSCI World Index Net Dividend Hedged $C

Details

NAV($) / Yield (%)	9.1535 (As of January 20, 2021)
Distribution Date	December 31, 2020
Income Distribution	0.0774
Capital Distribution	0.1672
Total Distribution	0.2445
AUM (in millions)	298.78 (As of December 31, 2020)
Distribution Frequency	Quarterly

Performance

	1 M	3 M	YTD	1 Y	2 Y	3 Y	4 Y	5 Y	10 Y	Since Inception
Fund	2.03	9.43	-4.46	-4.46	7.76	2.88	5.08	-	-	4.67
Benchmark	3.47	12.12	11.79	11.79	19.12	9.36	11.59	-	-	11.75

Note: Fund performance is before fees but after expenses

Yearly Performance

	2019	2018	2017	2016	2015
Fund	21.54	-6.24	11.99	-	-
Benchmark	26.92	-7.83	18.58	-	-