How can I become a Formula Growth Fund Investor?

Formula Growth Fund is generally closed to new investors.

What is Formula Growth Fund?

Formula Growth Fund is a mutual fund, the units of which are traded in accordance with the terms of the Syndicate Agreement.

How can I obtain a copy of the Syndicate Agreement?

Follow this link.

When is Formula Growth Fund priced?

The net asset value of the fund is determined twice monthly, at mid-month and at month-end, in accordance with the terms of the Syndicate Agreement. The unit value is established by dividing the net asset value of the fund by the total number of outstanding units.

How are unit holders taxed?

Formula Growth Fund is considered to be a mutual fund trust for Canadian income tax purposes. All realized gains, net of losses, are allocated annually to the unit holders, based on the monthly weighted average number of units held by each unit holder during the year. The annual allocation increases the adjusted cost base of the units held and consequently reduces the tax liability realized at the time of redemption. Tax forms are mailed automatically to unit holders during February of the following year. Unit holders are advised to consult their own tax advisers about their particular tax situation and should determine what income taxes, if any, are payable in accordance with the rules and regulations applicable in their country of residence.

Are units of Formula Growth Fund RRSP eligible?

The units of Formula Growth Fund constitute a qualified investment for Canadian Registered Retirement Savings Plans (RRSPs) and/or Registered Retirement Income Fund (RRIFs).

What is your Portfolio turnover?

We turn over approximately 30% of the portfolio every year.

How many stocks are typically in the fund?

We manage Formula Growth Fund with typically between 160-190 stocks. The top 15 positions amount to approximately 30% of the overall asset base. We believe that diversification is key to growth stock investing.

What are your management fees?

A percentage of the net asset value of the fund is paid monthly to the manager which, on an annual basis, amount to 1% of the net asset value. The fee is paid to compensate the manager for all the normal expenses of operating the fund except for custodial fees and bank charges.

Can I receive the quarterly report through electronic mail?

Yes, please follow this link to be added to our list of recipients that are notified upon release of the quarterly report.