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RBC Managed Portfolios
Aggressive Growth investment profile
MARCH 31, 2015
Objective
Commentary
This portfolio focuses on providing
long-term capital growth.
This quarter, the Aggressive Growth profile benefited from its exposure to a well-diversified
portfolio of global equities. While equity markets performed decently, gains were boosted
by a sharply lower Canadian dollar, which continued to lose ground as the Bank of Canada cut
interest rates and lower oil prices bit into economic growth. Despite the weak performance
of stocks in the financial, energy and materials sectors, Canadian stocks held up due to
strong performance in the industrials, consumer and health care sectors. The U.S. economic
expansion was expected to continue but at a more moderate pace, as the higher U.S. dollar
and still sluggish global growth weighs on company’s non-domestic earnings. Europe and
EM countries look set to gain economic traction, global monetary policy is highly stimulative
and private sector confidence continues to increase, all factors should help lift equity values
while keeping a lid on interest rates in the months ahead.
Fund Details
Profile inception date
Net assets
February 2000
$163.4MM
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
Capital gains
Minimum investment
Based on our outlook, the asset mix of the Aggressive Growth profile continues to be
underweight cash and overweight equities relative to our strategic benchmark weightings.
quarterly
annually
$100,000
Benchmark
FTSE TMX Canada
30 Day T-Bill Index
2.0%
Performance Analysis
FTSE TMX Canada Universe
Bond Index
0.0%
Growth of $100,000
Total fixed income and cash
2.0%
32.5%
S&P 500 TR Index, (C$)**
35.0%
MSCI EAFE Net Index, (C$)**
21.5%
MSCI EM Net Index, (C$)
Total equity
Total
9.0%
98.0%
100.0%
* O
perating expenses and applicable taxes are not
included in the fee schedule below.
** 25% hedged to C$.
$168,790
175
150
’000s
S&P/TSX Composite TR Index
March 31, 2015
125
100
75
50
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Calendar Returns† (%)
20
Sector Mix (% equities)
February 28, 2015
10
Financials
23.5
0
Consumer Discretionary
14.7
-10
Industrials
13.0
Information Technology
10.9
Energy
9.4
Health Care
9.1
Consumer Staples
8.7
Materials
5.7
Telecommunication Services
2.6
Utilities
2.4
Others
0.0
-20
-30
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
YTD
12.7
14.8
0.8
-31.7
16.0
9.1
-8.2
10.5
24.6
9.6
8.0
Trailing Returns† (%)
Profile
YTD
1 Mth
3 Mth
1 Yr
3 Yr
5 Yr
10 Yr
Since
inception
8.0
-0.4
8.0
14.0
15.0
10.0
5.3
2.0
† Net of fees based on a minimum investment of $100,000.
RBC Managed Portfolios – Aggressive Growth investment profile
Best/Worst Periods
March 31, 2015
1 Yr
Ended
3 Yr
Ended
5 Yr
Ended
10 Yr
Ended
Best
31.7%
Mar-04
18.2%
Mar-06
13.3%
Feb-14
5.3%
Mar-15
Worst
-34.1%
Feb-09
-18.2%
Mar-03
-5.6%
Mar-05
-3.3%
Aug-10
Average
2.7%
2.3%
2.2%
2.1%
171
147
123
63
Positive periods 63.7%
58.5%
53.7%
79.4%
No. of periods
Profile Holdings (% of net assets)
1.1
1.1
98.9
32.3
3.0
14.8
7.6
6.9
35.1
18.9
3.3
6.4
6.5
22.4
10.5
5.4
6.5
9.1
9.1
100.0
2015*
2014
2013
2012
2011
2010
$286
$6,257
$2,847
$2,459
$2,480
$2,178
Interest
24%
Dividends
11%
87%
Capital gains
65%
13%
Canadian Equities
U.S. Equities
Emerging Markets Equities
Top 25 Holdings
February 28, 2015
Issuer
% Assets
Cash
1.9
Royal Bank of Canada
1.4
Apple Inc
1.1
TD Bank
1.0
United Health Grp Inc
1.0
Bank of Nova Scotia
0.8
Anheuser-Busch InB
0.8
Magna Intl Inc
0.8
CVS Health Corp
0.8
Cdn National Railway Co
0.7
Bank of Montreal
0.7
Suncor Energy Inc
0.7
Manulife Financial Corp
0.7
Rio Tinto Plc
0.7
Oracle Corp
0.7
Microsoft Corp
0.6
Union Pac Corp
0.6
Honeywell Intl Inc
0.6
Wells Fargo & Co
0.6
Edison Intl
0.6
Medtronic Plc
0.6
13%
Enbridge Inc
0.6
78%
81%
Toyota Motor Corp
0.6
22%
6%
Cdn Natural Resources Ltd
0.6
Pfizer Inc
0.5
1%
99%
Cash & Fixed Income
32.3
22.4
International Equities
Distributions (based on a minimum investment of $100,000 reset annually)
Total distributions
March 31, 2015
1.1
9.1
35.1
March 31, 2015
CASH AND FIXED INCOME
Cash
EQUITIES
Canadian Equities
RBC Private Canadian Dividend Pool
RBC Private Canadian Equity Pool
RBC O’Shaughnessy All-Canadian Equity Fund
RBC Private Canadian Mid-Cap Equity Pool
U.S. Equities
RBC Private U.S. Equity Pool
RBC Private O’Shaughnessy U.S. Growth Equity Pool
RBC U.S. Mid-Cap Equity Fund
RBC Global Dividend Growth Fund (U.S. Holdings)
International Equities
RBC European Equity Fund
RBC Asian Equity Fund
RBC Global Dividend Growth Fund (Int'l Holdings)
Emerging Markets Equities
RBC Emerging Markets Equity Fund
TOTAL
Asset Mix (%)
Return of capital
* Distributions are characterized at year-end.
Total % of Top 25 Holdings
19.6
The indicated rates of return for the RBC Managed Portfolios investment profiles are the historical annual compounded total returns for the periods
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 after
deduction of fees and charges in respect of the program. 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 and RBC Funds including changes in unit
value and reinvestment of all distributions. The performance for each pool or fund is based on the change in the net asset value of Series O units of
the pool or fund during the period. 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 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. 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. 2015
42188 (04/2015)
015_070_GAM_42188 (03-2015)_MP_AggGrowth_EN_V1_2 05/05/2015