Portland 15 of 15 Fund


portfolio manager
Michael Lee-Chin, B.Eng., LLD (Honorary)
Executive Chairman, Chief Executive Officer and Portfolio Manager

Mr. Lee-Chin has over 35 years industry experience.

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portfolio manager
Dragos Berbecel, CFA, MBA
Portfolio Manager

Dragos has 18 years of experience, both as an investment professional and a business executive.

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fund details
Inception Date April 28, 2017
CIFSC* Asset Class Global Equity
Risk Tolerance Medium


KEY reasons to invest
  • Close adherence to a set of 15 investment criteria, including 5 laws of wealth creation and 10 attributes of successful businesses.
  • Founder-led companies and companies with a high degree of ownership engagement tend to outperform over the long run.
  • Experienced management team has studied wealth creation and practiced focused investing since 1986.


how the fund is managed
  • The investable universe, primarily North American listed equity securities, are screened for adherence to the 15 investment criteria.
  • Investment decisions incorporate fundamental analysis and valuation considerations.
  • Investments are managed with a long term focus.


The 15 criteria for
Wealth Creation



portfolio composition
  • Concentrated portfolio that invests primarily in North American equity securities.
  • Quality companies which are growing, profitable, stable and shareholder friendly.
  • Businesses which are owner operated, that have concentrated ownership, that employ autocratic and/or entrepreneurial management, that have low management turnover, that have long term business goals and whose value is driven by fundamentals.
  • Seeking reasonable diversification in the context of a focused strategy (generally 10 to 20 investments), which should limit variability of returns.

POTENTIAL RISKS

The Manager believes the following risks may impact the performance of the Fund: active management risk, concentration risk, currency risk, equity risk and ETF risk. Please read the “Risk Factors” section in the Simplified Prospectus for a more detailed description of all the relevant risks.




geographic allocation
As at October 31, 2017


sector allocation
As at October 31, 2017




Top Holdings
As at October 31, 2017

Cash 32.4%
Walgreens Boots Alliance, Inc. 5.9%
Fortis Inc. 5.9%
Berkshire Hathaway Inc.   5.8%
Danaher Corporation 5.4%
Fortive Corporation 4.8%
Liberty Global PLC LiLAC 4.6%
Whitecap Resources, Inc. 4.1%
George Weston Limited 3.5%
Brookfield Property Partners L.P. 3.5%
Linamar Corporation 3.5%
Brookfield Asset Management Inc. 3.2%
Oracle Corporation 3.2%
The Kraft Heinz Company  3.2%
BlackRock, Inc. 3.1%
Alphabet Inc. 3.1%
Carnival Corporation 3.1%
Brookfield Infrastructure Partners L.P. 3.1%
fund codes
Fund Name Series Code - Initial Sales Charge Code - DSC Code - LL
Portland 15 of 15 Fund
A
215 315 415
Portland 15 of 15 Fund
F
115 n/a n/a

- Fundserv Management Company Code: “PTL”

DISCLAIMER

* Canadian Investment Funds Standards Committee

1 Generally available through dealers who have entered into a Portland Series F Dealer Agreement.

RISK TOLERANCE

Risk tolerance measures the degree of uncertainty that an investor can handle regarding fluctuations in the value of their portfolio. The amount of risk associated with any particular investment depends largely on your own personal circumstances including your time horizon, liquidity needs, portfolio size, income, investment knowledge and attitude toward price fluctuations. Investors should consult their financial advisor before making a decision as to whether this Fund is a suitable investment for them.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. The indicated rates of return are the historical annual compounded total returns including changes in units [share] value and reinvestment of all distributions [dividends] and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. The rates of return are used only to illustrate the effects of the compound growth rate and are not intended to reflect future values of the mutual fund or returns on investment in the mutual fund. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Information presented in this material should be considered for background information only and should not be construed as investment or financial advice. Please consult a Financial Advisor. Every effort has been made to ensure the utmost accuracy of the information provided. Information provided is believed to be reliable when posted. All information is subject to modification from time to time without notice. Consent is required for any reproduction, in whole or in part, of this piece and/or of its images and concepts. Please read the Prospectus before investing. PORTLAND, PORTLAND INVESTMENT COUNSEL and the Clock Tower Design are registered trademarks of Portland Holdings Inc. Used under licence by Portland Investment Counsel Inc.