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Renaissance Investments™

Renaissance Canadian Core Value Fund [Class A]

Investment Objective

To achieve long-term investment returns through capital growth by investing in senior issuers that are primarily medium to large Canadian companies.

Fund Specifications

Also available in Class F

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) as at September 1, 2016: 1.75%

Annualized Management Expense Ratio (including applicable taxes) as at August 31, 2018: 2.20%

Front-End Load Option ATL901
Back-End Load Option ATL853
Low Load Option ATL671
Inception Date: September 23, 1994
Assets Under Management (000’s)
As at:

Portfolio Sub-Advisors

CIBC Asset Management

CIBC Asset Management (CIBC AM) 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.

Dominique Barker, CIBC Asset Management Inc.
Dominique Barker is a member of the Equities Research team. She is responsible for research coverage of the utilities, pipelines and real estate sectors. Prior to joining CIBC Asset Management in 2010, Ms. Barker's past positions include Research Analyst at Credit Suisse where she covered global alternative energy, and Canadian pipelines and utilities, Institutional Equity Salesperson at UBS Securities, Associate, Investment Banking at Newcrest Capital/TD Securities and Associate, Audit and Corporate Advisory Groups, at Ernst & Young. Ms. Barker holds an MBA degree in Accounting from the University of Toronto and Bachelor of Science degree in Engineering from Queen's University. She is also a CFA charterholder.

Pzena Investment Management, LLC

Pzena Investment Management is a fund manager that employs a classic value investment approach. The firm began managing assets on January 1, 1996 and manages assets for leading endowments, foundations, pension plans and individual investors. The firm is headquartered in New York City, with a representative office for Business Development and Client Services located in Melbourne, Australia.

John Goetz, MBA
Mr. Goetz is a Managing Principal, Co-Chief Investment Officer and Portfolio Manager of U.S. Large Cap and all non-US strategies at the firm. He joined Pzena Investment Management in 1996 and has 34 years of experience.

Caroline Cai, CFA
Ms. Cai is a Principal and Portfolio Manager for International (ex-U.S.), European, Emerging Markets, and Global Value strategies. She has been with the firm since 2004 and has 15 years experience.

Performance and Volatility

3 mo 6 mo 1 yr 3 yrs 5 yrs 10 yrs YTD Since

As at:

Calendar Year Performance
2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008
(12.6%) 8.6% 21.6% (13.2%) (0.6%) 13.7% 6.3% (10.6%) 12.4% 18.0% (24.1%)

On February 28, 2008, the Fund's name changed from Merrill Lynch Canadian Core Value Fund to Renaissance Canadian Core Value Fund.

Investment Performance

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.

Historical Pricing and Distributions

The management fee has changed effective September 1, 2016. The management expense ratio (MER) for the financial year ending August 31, 2017 will be based on the total expenses of the Fund for that financial year (excluding commissions and other portfolio transaction costs). The Manager may waive and/or absorb management fees and operating expenses at its discretion. The practice of waiving and/or absorbing management fees and operating expenses may continue indefinitely or may be terminated at any time without notice to unitholders.

Please refer to the Annual/Interim Management Reports of Fund Performance for further details.

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 class A 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 funds are not guaranteed. The values of many mutual funds change frequently. Past performance may not be repeated.