JFL

Why Jarislowsky Fraser?

Jarislowsky Fraser's 60+ years of proven fundamental research and investing is available through mutual funds to a broad spectrum of investors.

For decades, Jarislowsky Fraser's research and investment insights have helped institutional investors and affluent individuals turn market opportunity into investment performance.

With the launch of our three low-fee mutual funds in 2010 — Select Income Fund, Select Balanced Fund and Select Canadian Equity Fund — we deliver the same expertise to a more diverse set of investors, providing exclusive access to low-risk, high-quality investments with long-term, consistent returns in any economic environment.

 

Benefit From Our Investment Management Expertise

Our three Funds are built upon Jarislowsky Fraser's low-fee commitment to providing Canadians with greater access to the returns our proven expertise can offer.

Bottom line: our commitment to low fees helps ensure you have the opportunity to maximize your investments.

Our Funds are RSP-eligible and available to Canadian investors with an initial investment as little as $500 through an advisor or discount broker.

 

Invest Through An Advisor

When you consult with an investment advisor or financial planner, you have two no-load options with the Jarislowsky Fraser Funds:

  • Advisor Series – for use in traditional investment accounts
  • F-Series – for use in fee-based accounts

 

Self-Directed Investing

If you manage your own portfolio, we offer the E-Series.

  • E-Series is available through a discount broker and may be subject to regular commission or transaction fees.
  • Jarislowsky Fraser E-Series Funds require a minimum initial investment of $10,000.

 

For more information on the Jarislowsky Fraser Funds, see our fund overview below or contact us at mutualfunds@jflglobal.com.

 

Arrow

Unit Prices and Performance

  • Unit Prices
    Advisor Series
  • Performance
    Advisor Series

As at April 20, 2018

FUND NAME PRICE (CND) CHANGE HISTORY
NBI Jarislowsky Fraser Select Income Fund (Advisor Series) 10.13 -0.1% Consult
NBI Jarislowsky Fraser Select Balanced Fund (Advisor Series) 13.65 0.0% Consult
NBI Jarislowsky Fraser Select Canadian Equity Fund (Advisor Series) 15.33 0.1% Consult

As at March 31, 2018

FUND NAME INCEPTION DATE RETURN (%)
6 Mth Ytd 1 Yr 3 Yr 5 Yr Since Inception
NBI Jarislowsky Fraser Select Income Fund (Advisor Series) Oct. 7, 2010 0.77 -1.11 -0.46 1.38 3.65 4.31
NBI Jarislowsky Fraser Select Balanced Fund (Advisor Series) Oct. 7, 2010 0.66 -1.98 -0.65 2.22 5.64 5.79
NBI Jarislowsky Fraser Select Canadian Equity Fund (Advisor Series) Oct. 7, 2010 -0.60 -3.77 -1.62 3.17 7.17 6.55

Mutual fund performance is calculated net or “after” fees.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit values and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional changes or income taxes payable by any security holder that would have reduced returns. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

NBI Jarislowsky Fraser Funds

  • NBI Jarislowsky Fraser Select Income Fund
    (Advisor Series)
  • NBI Jarislowsky Fraser Select Balanced Fund
    (Advisor Series)
  • NBI Jarislowsky Fraser Select Canadian Equity Fund
    (Advisor Series)

INVESTMENT OBJECTIVE

The Fund’s investment objective is to provide regular income and achieve moderate capital growth by investing in a diversified portfolio, comprised primarily of Canadian fixed-income and equity securities. The Fund may invest approximately 25% of its assets in the equity or fixed-income securities of foreign issuers.

IDEAL FOR

Investors willing to tolerate a low level of risk. Investors who seek a diversified mix of equity and fixed-income securities.

STRATEGY

  • The Fund holds investment‐grade fixed-income and high‐quality equity securities to maximize income and minimize both interest rate and default risk.
  • The Fund’s maturity and credit quality are positioned to weather every stage of the business cycle.
  • Lower credit-quality issuers are analyzed with a focus on cash flow stability and the recovery value of their fixed-income securities.
  • Overall, the Fund will invest in higher-quality, investment-grade issues.

 

 

 

NBI Jarislowsky Fraser Select Income Fund (Advisor Series)

Performance

As at March 31, 2018

FUND NAME INCEPTION DATE RETURN (%)
6 Mth Ytd 1 Yr 3 Yr 5 Yr Since Inception
NBI Jarislowsky Fraser Select Income Fund (Advisor Series) Oct. 7, 2010 0.77 -1.11 -0.46 1.38 3.65 4.31

Portfolio management team

QUARTERLY COMMENTARIES

The world’s stock markets continued their upward trajectory during the fourth quarter, led by the United States and emerging markets. Economic growth is robust with very few signs of inflation; somewhat of a Goldilocks scenario. Monetary policy remains accommodative and even where rates have increased (e.g. the U.S.), it is clear that the path to normalization is likely to be very gradual.

The Canadian equity market was somewhat held back by the continued struggles of the Energy sector, even though the price of oil rose by 15.4% to close the year at USD59.64 per barrel (WTI). Access to international markets continues to be difficult for Canadian producers, although the approval of Keystone XL was a positive step. The S&P/TSX rose 4.5% during the quarter. This return was essentially matched by international stocks as the MSCI EAFE Net rose by 4.2% in USD (4.4% in CAD). The market leader continued to be the U.S. which, despite historically high valuations, continued to benefit from strong performance from some of the “new” technology titans such as Apple and Amazon, as well as the Trump administration’s tax bill. The S&P 500 rose 6.6% in USD (6.8% in CAD) for the quarter. The Canadian dollar slipped slightly in the quarter by -0.2% to end the year at USD 0.7981.

The NBI JF Select Income Fund slightly underperformed its benchmark in the fourth quarter. The portfolio continues to be overweight high-quality corporate bonds which helped performance, as did the positioning of the maturity of our holdings relative to the benchmark. Our underweight in provincial bonds was the largest detractor given their outperformance, particularly in comparison to longer-term federal and corporate bonds.

New issuance activity in credit markets continued to be robust during the final quarter of 2017. We continue to have an overweight exposure to corporate bonds although with more caution than in the past given richer valuations. We upgraded the portfolio by crystallizing outsized gains in some lower quality issues and moving into either federal or federally-guaranteed bonds.

 

Disclosures:

Returns of the F Series may vary mainly because of the different fees and expenses: NBI Jarislowsky Fraser Select Income Fund - Series F (as of 12/31/17) 3 months 2.2%, 1 year 3.2%, 3 years 3.5%, 5 years 5.5%, Since Inception 5.5%. The NBI Jarislowsky Fraser Select Funds (the “Funds”) are managed by National Bank Securities Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds. Please read the prospectus of the Funds before investing. The Funds’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Funds are not guaranteed, their values change frequently and past performance may not be repeated. The indicated rates of returns are based on the historical annual compounded total returns including changes in securities value and reinvestment of all distributions 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.

 


INVESTMENT OBJECTIVE

The Fund’s investment objective is to achieve moderate capital growth by investing in a diversified portfolio, comprised mainly of Canadian fixed-income and equity securities.The Fund may invest approximately 25% of its assets in the equity or fixed-income securities of foreign issuers.

IDEAL FOR

Investors willing to tolerate a low to moderate level of risk. Investors who seek a diversified mix of equities and fixed-income securities.

STRATEGY

  • The Fund holds high‐quality equity securities and investment‐grade fixed-income issues.
  • The Fund's investment approach is prudent and aimed at capital preservation, with a focus on the securities of large‐capitalization companies that are industry leaders with strong management, a solid track record of earnings and limited financial leverage.
  • Lower credit-quality issuers are analyzed with a focus on cash flow stability and the recovery value of their fixed-income securities.
  • Overall, the Fund will invest in higher-quality, investment-grade issues.

 

 

NBI Jarislowsky Fraser Select Balanced Fund (Advisor Series)

Performance

As at March 31, 2018

FUND NAME INCEPTION DATE RETURN (%)
6 Mth Ytd 1 Yr 3 Yr 5 Yr Since Inception
NBI Jarislowsky Fraser Select Balanced Fund (Advisor Series) Oct. 7, 2010 0.66 -1.98 -0.65 2.22 5.64 5.79

Portfolio management team

QUARTERLY COMMENTARIES

The world’s stock markets continued their upward trajectory during the fourth quarter, led by the United States and emerging markets. Economic growth is robust with very few signs of inflation; somewhat of a Goldilocks scenario. Monetary policy remains accommodative and even where rates have increased (e.g. the U.S.), it is clear that the path to normalization is likely to be very gradual. The Canadian bond market recouped its losses from the third quarter and the FTSE TMX Canada Universe generated a return of 2.0%. After the rate increase of the first half of the year, the Bank of Canada has shifted to a more cautious stance and has become more data-focused. The Canadian equity market was somewhat held back by the continued struggles of the Energy sector, even though the price of oil rose by 15.4% to close the year at USD59.64 per barrel (WTI). The S&P/TSX rose 4.5% during the quarter. This return was essentially matched by international stocks as the MSCI EAFE Net rose by 4.2% in USD (4.4% in CAD). The market leader continued to be the U.S. which, despite historically high valuations, continued to benefit from strong performance from some of the “new” technology titans such as Apple and Amazon, as well as the Trump administration’s tax bill. The S&P 500 rose 6.6% in USD (6.8% in CAD) for the quarter. The Canadian dollar slipped slightly in the quarter by -0.2% to end the year at USD 0.7981.

The portfolio performed well during the fourth quarter, but came in slightly behind the benchmark. Strong absolute returns from equities, especially U.S. stocks, was the main contributor to the top line, however the portfolio’s equity sections could not beat their benchmarks given the risk-on sentiment and strong performance from cyclicals. The bond portfolio generated a solid return in the quarter, nevertheless the underweight in that asset class was a positive contributor. Over the full calendar year, the portfolio generated solid returns, but slightly lagged the benchmark. Again, the overweight in stocks was a strong positive, but very strong U.S. and international markets driven by expensive technology and momentum stocks outpaced our more conservative, high-quality holdings.

 

Disclosures:

Returns of the F Series may vary mainly because of the different fees and expenses: NBI Jarislowsky Fraser Select Balanced Fund - Series F (as of 12/31/17) 3 months 3.0%, 1 year 4.5%, 3 years 5.4%, 5 years 8.3%, Since Inception 7.5%. The NBI Jarislowsky Fraser Select Funds (the “Funds”) are managed by National Bank Securities Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds. Please read the prospectus of the Funds before investing. The Funds’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Funds are not guaranteed, their values change frequently and past performance may not be repeated. The indicated rates of returns are based on the historical annual compounded total returns including changes in securities value and reinvestment of all distributions 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.


INVESTMENT OBJECTIVE

The Fund’s investment objective is to achieve long-term capital growth by primarily investing in the equity securities of large-capitalization Canadian issuers. The Fund may invest up to 49% of its assets in foreign securities.

IDEAL FOR

Investors willing to tolerate a medium level of risk.Investors who wish to add a Canadian equity fund to their portfolio.

STRATEGY

  • The Fund invests in the equity securities of large‐capitalization companies that are industry leaders with strong management, a solid track record of earnings and limited financial leverage.
  • The screening of securities is based on fundamental analysis and a “growth at a reasonable price” valuation approach and an emphasis on long‐term investment horizon.
  • Up to 15% of the Fund’s holdings may be invested in the securities of foreign issuers with above-average growth potential and below-average risk.

 

NBI Jarislowsky Fraser Select Canadian Equity Fund (Advisor Series)

Performance

As at March 31, 2018

FUND NAME INCEPTION DATE RETURN (%)
6 Mth Ytd 1 Yr 3 Yr 5 Yr Since Inception
NBI Jarislowsky Fraser Select Canadian Equity Fund (Advisor Series) Oct. 7, 2010 -0.60 -3.77 -1.62 3.17 7.17 6.55

Portfolio management team

QUARTERLY COMMENTARIES

The world’s stock markets continued their upward trajectory during the fourth quarter, led by the United States and emerging markets. Economic growth is robust with very few signs of inflation; somewhat of a Goldilocks scenario. Monetary policy remains accommodative and even where rates have increased (e.g. the U.S.), it is clear that the path to normalization is likely to be very gradual.

The Canadian equity market was somewhat held back by the continued struggles of the Energy sector, even though the price of oil rose by 15.4% to close the year at USD59.64 per barrel (WTI). Access to international markets continues to be difficult for Canadian producers, although the approval of Keystone XL was a positive step. The S&P/TSX rose 4.5% during the quarter. This return was essentially matched by international stocks as the MSCI EAFE Net rose by 4.2% in USD (4.4% in CAD). The market leader continued to be the U.S. which, despite historically high valuations, continued to benefit from strong performance from some of the “new” technology titans such as Apple and Amazon, as well as the Trump administration’s tax bill. The S&P 500 rose 6.6% in USD (6.8% in CAD) for the quarter. The Canadian dollar slipped slightly in the quarter by -0.2% to end the year at USD 0.7981.

The fund’s performance lagged the S&P/TSX Composite during the fourth quarter. Both stock selection and group weight were negative, however neither factor was a major contributor in any particular sector. Although we saw good performance from some of our largest positions, this was more than offset by a decline in some energy stocks, related mostly to weak natural gas prices, and the continued weakness in Metro Inc. due to competitive threats (such as Amazon’s acquisition of Whole Foods) despite producing good results.

For the 2017 calendar year, the portfolio lagged the benchmark, with the majority of the underperformance caused by our holdings in the Energy sector. Cenovus Energy, for example, fell as a result of the disappointing structure of their acquisition of Conoco-Phillips’ remaining Canadian assets as well as the weak price of oil in western Canada (WCS).

 

Disclosures:

Returns of the F Series may vary mainly because of the different fees and expenses: NBI Jarislowsky Fraser Select Canadian Equity Fund - F Series (as of 12/31/17)  3 months 3.5%, 1 year 5.0%, 3 years 6.3%, 5 years 10.8%, Since Inception 8.6%. The NBI Jarislowsky Fraser Select Funds (the “Funds”) are managed by National Bank Securities Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Funds. Please read the prospectus of the Funds before investing. The Funds’ securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Funds are not guaranteed, their values change frequently and past performance may not be repeated. The indicated rates of returns are based on the historical annual compounded total returns including changes in securities value and reinvestment of all distributions 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.

 

Arrow

Regulatory Documents & Proxy Voting

Fund name

Fund Facts - NBI Jarislowsky Fraser Select Income Fund (Advisor Series)

Fund Facts - NBI Jarislowsky Fraser Select Income Fund (F Series)

Fund Facts - NBI Jarislowsky FraserF Select Income Fund (E Series)

Fund Facts - NBI Jarislowsky Fraser Select Balanced Fund (Advisor Series)

Fund Facts - NBI Jarislowsky Fraser Select Balanced Fund (F Series)

Fund Facts - NBI Jarislowsky Fraser Select Balanced Fund (E Series)

Fund Facts - NBI Jarislowsky Fraser Select Balanced Fund (T5 Series)

Fund Facts - NBI Jarislowsky Fraser Select Balanced Fund (F5 Series)

Fund Facts - NBI Jarislowsky Fraser Select Canadian Equity Fund (Advisor Series)

Fund Facts - NBI Jarislowsky Fraser Select Canadian Equity Fund (F Series)

Fund Facts - NBI Jarislowsky Fraser Select Canadian Equity Fund (T5 Series)

Fund Facts - NBI Jarislowsky Fraser Select Canadian Equity Fund (E Series)

Fund Facts - NBI Jarislowsky Fraser Select Canadian Equity Fund (F5 Series)

Annual Information Form

Annual Information Form - Amendment 1

Annual Information Form - Amendment 2

Annual Information Form - Amendment 3

Annual Information Form - Amendment 4

Annual Information Form - Amendment 5

Interim Financial Statements - Jarislowsky Fraser Select Income Fund

Interim Financial Statements - Jarislowsky Fraser Select Balanced Fund

Interim Financial Statements - Jarislowsky Fraser Select Canadian Equity Fund

Interim MRFP - Jarislowsky Fraser Select Income Fund

Interim MRFP - Jarislowsky Fraser Select Balanced Fund

Interim MRFP - Jarislowsky Fraser Select Canadian Equity Fund

Quarterly Portfolio Disclosure - Jarislowsky Fraser Select Income Fund

Quarterly Portfolio Disclosure - Jarislowsky Fraser Select Balanced Fund

Quarterly Portfolio Disclosure - Jarislowsky Fraser Select Canadian Equity Fund

Prospectus

Prospectus - Amendment 1

Prospectus - Amendment 2

Prospectus - Amendment 3

Prospectus - Amendment 4

Prospectus - Amendment 5

Proxy Voting Policy and Procedures

Proxy Voting - Jarislowsky Fraser Select Income Fund

Proxy Voting - Jarislowsky Fraser Select Balanced Fund

Proxy Voting - Jarislowsky Fraser Select Canadian Equity Fund

Report to Holders

Financial Statements - Jarislowsky Fraser Select Income Fund

Financial Statements - Jarislowsky Fraser Select Balanced Fund

Financial Statements - Jarislowsky Fraser Select Canadian Equity Fund

MRFP - Jarislowsky Fraser Select Income Fund

MRFP - Jarislowsky Fraser Select Balanced Fund

MRFP - Jarislowsky Fraser Select Canadian Equity Fund

Arrow

Contact Us

mutualfunds@jflglobal.com

Montreal Office
Maxime Ménard
mmenard@jflglobal.com
Tel: (514) 842-2727
(866) 475-1875

Toronto Office
Paul Ng
png@jflglobal.com   
Tel: (416) 363-7417
(800) 736-8666

Calgary Office
Don Herman
dherman@jflglobal.com
Tel: (403) 233-9117
(866) 475-1874

Vancouver Office
Mark Fattedad
mfattedad@jflglobal.com
Tel: (604) 676-3612
(866) 475-1877