January 2012
Portfolio Objective
The investment objective of the Pool is to manage risk while providing above average long-term returns through capital appreciation and dividend income. We achieve this by investing primarily in equity securities of companies that have a history of dividend growth and by investing in growth-oriented companies that may pay dividends. The Pool invests in companies around the world outside North America. It focuses on Emerging Markets, specifically exposure in countries like China, India and Brazil with a targeted range of 25-35% of the funds assets. Far East exposure has a targeted range of 0-15% and includes exposure in Japan, Hong Kong, and Australia. European exposure makes up 40-55% of the pool and would generally be focused in the countries of Germany, France, the UK, Sweden and Norway.
Strategy
The portfolio is concentrated into 40-50 equity positions with no single position being greater than 5% of the market value of the fund. The Pool will target an allocation of 70% dividend growth stocks and 30% growth companies. The strategy of the fund is to focus on absolute returns and within this, the pool will utilize hedging strategies to reduce the volatility within equity and currency markets. The Pool will also utilize cash as an asset class and at times can hold overall portfolio cash levels in the 15-20% range.
Monthly Performance
| 2012 | Jan-12* | Feb-12 | Mar-12 | Apr-12 | May-12 | Jun-12 | Jul-12 | Aug-12 | Sept-12 | Oct-12 | Nov-12 | Dec-12 | YTD |
| McLean & Partners | 7.5% | 7.5% | |||||||||||
| Benchmark** | 3.7% | 3.7% |
| 2011 | Jan-11 | Feb-11 | Mar-11 | Apr-11 | May-11 | Jun-11 | Jul-11 | Aug-11 | Sept-11 | Oct-11 | Nov-11 | Dec-11 | 2011 |
| McLean & Partners | 1.3% | -0.2% | 2.5% | 3.2% | -0.8% | -2.6% | -3.2% | -5.7% | -7.4% | 7.9% | -4.2% | -1.9% | -10.5% |
| Benchmark** | 3.0% | 0.6% | -2.4% | 3.4% | -0.9% | -1.6% | -2.7% | -6.8% | -3.6% | 4.5% | -2.6% | -0.8% | -10.0% |
| 2010 | Jan-10 | Feb-10 | Mar-10 | Apr-10 | May-10 | Jun-10 | Jul-10 | Aug-10 | Sept-10 | Oct-10 | Nov-10 | Dec-10 | 2010 |
| McLean & Partners | -2.9% | -0.7% | 1.0% | 0.0% | -4.4% | 0.5% | 2.3% | -0.8% | 5.9% | 3.2% | -1.5% | 2.5% | 5.1% |
| Benchmark** | -2.8% | -1.5% | 2.0% | -2.0% | -8.3% | 0.3% | 6.1% | 0.3% | 5.6% | 2.8% | -3.9% | 4.6% | 2.1% |
| 2009 | Jan-09 | Feb-09 | Mar-09 | Apr-09 | May-09 | Jun-09 | Jul-09 | Aug-09 | Sept-09 | Oct-09 | Nov-09 | Dec-09 | 2009 |
| McLean & Partners | -4.9% | -1.7% | 0.4% | -0.4% | 3.1% | 4.3% | -0.5% | 1.7% | 2.8% | -1.3% | 1.0% | 0.4% | 3.8% |
| Benchmark** | -9.4% | -8.2% | 5.4% | 6.5% | 3.1% | 5.4% | 1.6% | 7.1% | 1.5% | -0.9% | -0.2% | 0.9% | 11.9% |
Note: Gross of Fees and Expenses
*Returns are estimates based on CIBC and Bloomberg
**EAFE
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| Legal Structure: Open-end investment fund |
| Unit Pricing: CDN $ |
| Redemption: Weekly |
| Auditor: KPMG |
| Trustee: CIBC Mellon Trust company |
| Legal: Borden Ladner Gervais LLP |
If you are interested in learning more about this fund, please contact
Russ MacKay at (403) 234-6103 or rmackay@mcleanpartners.com
Disclaimer: McLean & Partners provides independent research and advice to its clients on a fee for service basis. The company is not engaged in any investment banking, underwriting, consulting or financial services activities on behalf of any companies. McLean & Partners’ research reports are for the sole purpose of managing client portfolios on a managed and non-managed basis. The company may engage in proprietary trading to invest surplus corporate cash balances. The opinions expressed herein are those of the author and do not necessarily represent those of McLean & Partners Wealth Management Ltd. The information contained in this report has been obtained from sources believed to be reliable, however, we cannot represent that it is accurate or complete. McLean & Partners Wealth Management Ltd. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.
