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Renaissance European Fund [Class A]
Investment Objective
To achieve superior long-term investment returns through capital growth and, to a lesser extent, income through investments in securities primarily of issuers located in (or that conduct a significant amount of their business in) Europe.
Fund Specifications
Minimum Initial Investment:
Lump Sum
Initial: $500
Subsequent: $100
Distribution of Earnings:
Distributions of net income and net realized capital gains occur annually in December.
Pre-Authorized Chequing Investment (PAC) or Group RRSP:
$50 minimum investment for monthly, quarterly, semi-annual or annual deposit.
Systematic Withdrawal Plan:
With minimum initial account value of $10,000. Withdrawals may be made monthly, quarterly, semi-annually or annually. $50 minimum.
Annual Management Fee (excluding applicable taxes): 2.00%
Management Expense Ratio (including applicable taxes) as at February 28, 2011: 2.80%†
| Front-End Load Option | ATL917 |
| Back-End Load Option | ATL163 |
| Low Load Option | ATL673 |
| Inception Date: | November 24, 1993 |
| Assets Under Management (000’s) As at: |
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| Distribution Chart | |
| Date | Amount per Unit |
| 12/16/2011 | $0.191 |
Portfolio Sub-Advisors
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CIBC Global Asset Management Inc. |
CIBC Global Asset Management Inc. is one of Canada's largest asset management firms and provides a broad range of high-quality global investment management solutions to retail and institutional clients. |
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Ian Scullion, CIBC Global Asset Management
Ian Scullion joined CIBC Asset Management in September 2002. Ian is a member of the Global Equity group, operating from within the firm's Investment Management Platform, and is co-leader of the EAFE Equity team. Ian holds a Bachelor of Business Administration from Laval University (Quebec); and is also a CFA charterholder. His previous experience includes; Portfolio Manager, International Large Cap Equities at Jarislowsky Fraser Ltd. (Montreal) from 1999 to 2002; Director, International Portfolio Management at Cogesfonds (Quebec) from 1995 to 1999.
Mark Lin, CIBC Global Asset Management Inc.
Mark Lin joined CIBC Global Asset Management Inc. in 2002 as an analyst and portfolio manager dedicated to International Equity products. Prior to joining CIBC, Mr. Lin worked as an analyst and portfolio manager for Jarislowsky Fraser Ltd, dedicated to institutional international equity accounts. From 2000 until the end of 2001, Mr. Lin worked in Montreal for the asset management arm of the Scottish mutual life insurance company, Standard Life.
Performance and Volatility
| Performance | |||||||
| 3 mo | 6 mo | 1 yr | 3 yrs | 5 yrs | 10 yrs | YTD | Since Inception |
| 1.6% | (18.9%) | (14.2%) | (3.1%) | (10.0%) | (2.0%) | (14.2%) | 3.1% |
As at:
| Calendar Year Performance | ||||||
| 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 |
| (5.4)% | 12.1% | (31.4%) | (5.5%) | 30.4% | 5.1% | 8.7% |
| Investment Performance |
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Value of $10,000 invested since inception The rate of return or mathematical table shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the fund or returns on investment in the fund. |
†The MER quoted above is annualized as at February 28, 2011. The MER would have been 4.29% had the manager not waived some management fees and/or absorbed some operating expenses. This will be reviewed annually by the Manager.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Renaissance Investments family of funds simplified prospectus before investing. The indicated rates of return are the historical annual compounded total returns for the units, including changes in unit value and reinvestment of all distributions, but do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer, nor are they guaranteed. There can be no assurance that a money market fund will be able to maintain its net asset value per unit at a constant amount or that the full amount of your investment will be returned to you. The values of many mutual funds change frequently. Past performance may not be repeated.