The investment approach

We believe our greatest competitive advantage lies in our investment approach and in our team’s discipline to follow it regardless of the market backdrop. For decades, our Investment Team has stayed focused on long-term outcomes even when short-term noise dominates investor behaviour. They consider themselves business analysts first because they view every investment as an ownership stake in a real business rather than just a piece of paper. Put another way, the Investment Team sees themselves as business owners buying business or lending to businesses.

Our firm structure

EdgePoint is a private company owned and operated by investors. Because we’re employee-owned, we answer to unitholders and not shareholders. This lets us focus on serving our clients’ best interests by growing assets and not gathering them.

EdgePoint was founded in 2008.

As a privately held company, we aren’t conflicted between shareholder and unitholder interests. EdgePoint employees can buy a stake in the company, instilling an ownership mindset that rewards building long-term relationships with our investors.

As at December 31, 2025, our investors have $27.5 billion more than what they initially invested with us.

^{Includes since-inception total returns from all investments managed by EdgePoint, net of fees and taxes charged directly to the respective portfolios. Excludes fees and taxes paid directly by investors.}

As at December 31, 2025, our internal partners hold some $507 million in company-related products (for many of us, the lion's share of our investable assets), and are collectively one of our largest investors.

We believe having "skin in the game" fosters accountability and creates alignment with our investment partners.

^{Co-investment includes all investments by active company founders and employees in company-related products.}

The EdgePoint 10-Year Partner Program is a long-term investor loyalty program – investors who remain invested in an EdgePoint Portfolio for 10 or more consecutive years automatically receive a management fee rebate on eligible accounts. The rebate would apply to any new future holdings/accounts.

The fee reduction is applied quarterly through a management fee distribution and is reinvested in additional units of the Portfolio(s) held.

^{* Investment Management Fee is defined as management fees applicable to Series A, Series A(N), Series F or Series F(N), along with their respective T4/T6 versions, net of trailer fees paid to your Dealer (if applicable), operating expenses and taxes.}

More information on the 10-Year Partner Program is available here.

Cymbria Corp. (TSX: CYB) is managed by EdgePoint Investment Group Inc. It’s a public investment corporation with a goal of providing long-term capital appreciation through:

• A concentrated portfolio of global public and private equities

• Its minority ownership interest (20.7%) in EdgePoint Wealth Management Inc., the operating wealth-management business

More information on Cymbria and its drivers of wealth are available at Cymbria.com.

We approach fixed-income investing in the same way we do equity investing. We’re long-term investors who seek to acquire ownership stakes in quality businesses at prices below our assessment of their true worth. On the fixed-income side, we look for securities that provide us with an attractive return through coupon payments and/or capital appreciation while focusing on the borrower’s (bond issuer’s) ability to meet its debt obligations through the payment of periodic coupons and the return of the original principal at maturity.

Fixed-income managers tend to manage to the index and don’t deviate materially from duration, sector or credit ratings. At EdgePoint, we have the ability to look different and have shown that we aren’t afraid to look different. While we’re aware of the index, we don’t let it dictate our investment approach.

More information is available in the Why EdgePoint credit? package.

Funds – Prospectus

• EdgePoint Canadian Portfolio (Category: Canadian Equity) – Series A/F inception: Nov. 17, 2008

• EdgePoint Canadian Growth & Income Portfolio (Category: Canadian Equity Balanced) – Series A/F inception: Nov. 17, 2008

• EdgePoint Global Portfolio (Category: Global Equity) – Series A/F inception: Nov. 17, 2008

• EdgePoint Global Growth & Income Portfolio (Category: Global Equity Balanced) – Series A/F inception: Nov. 17, 2008

• EdgePoint Monthly Income Portfolio (Category: Canadian Core Plus Fixed Income) – Series A/F inception: Nov. 2, 2021

Funds – Available via prospectus exemption

• EdgePoint Opportunistic Credit Portfolio – Only available to investors who qualify under a prospectus exemption.

The Canadian Investment Funds Standards Committee (CIFSC) classifies EdgePoint Portfolios within the following categories:

EdgePoint Canadian Portfolio – Canadian Equity funds predominantly invest in securities domiciled in Canada with an average market capitalization greater than the Canadian small/mid-cap level. They must invest at least 90% of equity holdings in Canadian.

EdgePoint Canadian Growth & Income Portfolio – Canadian Equity Balanced funds must invest a minimum of 70% of total assets in a combination of securities domiciled in Canada and Canadian dollar-denominated fixed-income securities. They must invest at least 60% but no more than 90% of total assets in equities.

EdgePoint Global Portfolio – Global Equity funds invest in securities domiciled anywhere around the world with an average market capitalization greater than the small/mid-cap level. They funds must invest between 10% and 90% of equity holdings in Canadian or U.S. companies. Funds without strict investment restrictions and don’t qualify for other geographic categories are assigned to this category.

EdgePoint Global Growth & Income Portfolio – Global Equity Balanced funds must invest a maximum of 70% of total assets in a combination of securities domiciled in Canada and Canadian dollar-denominated fixed-income securities. They must invest at least 60% but no more than 90% of total assets in equities.

EdgePoint Monthly Income Portfolio – Canadian Core Plus Fixed Income funds must allocate at least 90% of their fixed income investments to C$-denominated securities. They primarily invest in investment grade fixed income securities (BBB rating or higher) and can have between 5% and 25% allocated to non-investment grade securities.

We are fundamental business owners buying businesses. We seek businesses that we believe will grow materially bigger, and in which we can buy an ownership stake while not paying for this future growth. To generate excess risk-adjusted returns, we look for misunderstood positive change at the business level, or a change that leads to mispriced opportunity.

Our proprietary insights allow us to identify opportunities earlier and act faster, and as a result helps to earn attractive long-term returns. Our time-tested differentiated approach is designed to identify overlooked opportunities across a wide variety of business situations. Proprietary insight is a fancy way of saying that we look for positive changes inside a business before they become obvious to others.

We invest in an idea only when we can buy an interest in a business below our assessment of its true worth. By definition, we are considered “value” investors. However, in addition to value, we want to own businesses capable of growing their value over time. This, by definition, makes us “growth” investors. At EdgePoint, we want to buy “growth” companies at “value” prices.

We approach credit investing in a similar way how we approach equities - we are business owners lending to businesses.

On the fixed-income side, we look for securities that provide us with an attractive return through coupon payments and/or capital appreciation, while also focusing on the borrower’s (bond issuer’s) ability to meet its debt obligations through the payment of periodic coupons and the return of the original principal at maturity.

Naturally, this means we try to look where no one else is looking. This might mean we focus on smaller bond issues that trade less frequently and are underfollowed by other analysts. We do our own credit work and don’t offload it to others. These bonds are typically misunderstood by the market. The bonds we buy are often out-of-favour for some reason that has nothing to do with the long-term prospects for the company, giving us the opportunity to form a differentiated view.

Fixed-income managers tend to manage to the index and don’t deviate materially from duration, sector or credit ratings. At EdgePoint, we have the ability to look different and have shown that we aren’t afraid to look different. While we’re aware of the index, we don’t let it dictate our investment approach.

Investment success is often defined exclusively by investment returns. However, when we invest, we weigh the risk of that investment against its potential return. We believe that most investors focus exclusively on returns and neglect to ask what kind of risk was taken to achieve those returns.

We believe that risk in the investment business is the potential for permanent loss of capital. We take an old-fashioned view of risk summed up in the questions, “How much money can we lose, and what is the probability of that loss?” Much of our thinking around risk focuses on company-specific factors such as increased competition, management competence, profitability compression and the business's underlying valuation relative to our assessment of its true worth. Noticeably absent from our definition of risk is volatility of a company’s share price relative to the market. We don't believe volatility is risk.

While the industry standard for measuring investment risk typically compares the historic volatility of an investment, we don’t view volatility is risk. We view volatility as an opportunity to add value. We believe volatility is the friend of the investor who knows the value of the business, and the enemy of the investor who doesn’t.

The team takes a common-sense approach to risk management by assessing how much money can be lost and the probability of losing it.

We'll hedge our currency exposure if we believe there's a risk for loss of capital. When we make investments in foreign-denominated currencies, we recognize that Canadian investors are exposed to currency volatility. While we believe that currency gains and losses tend to net out over the long term, the impact of currency on overall returns can be meaningful over shorter periods.

If we believe the Canadian dollar is undervalued relative to a particular currency, we will hedge a portion, or all, of our exposure to that currency. Since we believe that long-term purchasing power parity holds, we generally use it as a barometer to measure the relative values of currencies.

EdgePoint fund codes | Download PDF

In 2010, EdgePoint introduced non-HST series to ensure fairness for investors in non-HST provinces and territories (Alberta, Manitoba, Saskatchewan, B.C., Northwest Territories, Nunavut and Yukon). The goal was to prevent investors in non-HST regions from subsidizing those in HST provinces through blended tax rates.

Most fund companies use a blended rate, which averages tax across all investors. EdgePoint chose to create separate series, so each investor pays only the tax applicable to their province.

Series F codes starting with a “5” are standard Series F units for clients in a dealer-sponsored fee-based or wrap account program. The advisory/service fee is collected by the dealer directly from the client, based on the dealer’s fee-for-service arrangement. EdgePoint does not deduct fees from the fund units; the dealer bills the client separately.

Series F codes starting with “6” are advisory fee codes. For these codes, EdgePoint deducts the negotiated advisory fee directly from the client’s account through quarterly redemptions of fund units and remits it to the dealer. An Investment Advisory Fee Agreement signed by the investor and financial representative is required.

Series T units are designed for investors who wish to receive regular monthly cash flows at a fixed payout rate. On or around the 15th of each month, a distribution is paid to unitholders of Series T4/Series T6. The monthly distribution amount is determined annually on the last day of the previous calendar year by multiplying the net asset value (“NAV”)/unit by 4% or 6% (depending on T4 or T6) and then dividing by 12.

Speak with your financial representative to learn about whether Series T units are a good fit for your financial needs.

The Portfolio has a differentiated fee structure that allows us to charge a tiered management fee depending on the interest rate environment. When rates increase and it’s easier to earn a return, there’s a corresponding increase to the fee we charge. When rates decrease and it’s harder to earn a return, we charge a lower fee, aligning with market conditions and always prioritizing the interests of our unitholders.

Management fees are set at the start of each calendar quarter. The fee is determined with reference to the daily average yield to maturity of the FTSE Canada Universe Bond Index (“Reference Rate”) from the previous quarter.

The FTSE Canada Universe Bond Index tracks the performance of investment-grade debt denominated in Canadian dollars and issued by Canadian government and corporations. The index was chosen as it is a widely used benchmark of the Canadian fixed-income market. We manage our Portfolios independently of the indexes we use as long-term performance comparisons. Differences including security holdings, credit quality, issuer type and yield may impact fixed-income comparability from the index.

See Management fee structure for more information.

No. EdgePoint does not offer US$-denominated mutual fund series because its retail portfolios are structured and offered as Canadian-domiciled mutual funds in C$. Currency exposure is managed at the portfolio level through security selection, geographic diversification, and selective hedging, rather than through US$-denominated fund wrappers.

Initial investment:

• EdgePoint Canadian Portfolio: $100,000

• All other Portfolios: $20,000

Subsequent minimum investment:

• All Portfolios: $1,000
  

EdgePoint Portfolios are only available for purchase through a financial representative associated with a registered dealer, as we believe that investors are better served when they benefit from professional financial advice.

EdgePoint Portfolios are not available through any discount brokerage channels.

Yes. EdgePoint Portfolios are primarily intended for Canadian residents.

Cut-off time is 4:00 pm ET on any given business day. However, your dealer may have an earlier internal cut-off time to ensure all trades can be remitted to various fund companies.

An MER represents the annual cost of owning a mutual fund, expressed as a percentage of the fund’s average assets. It covers management fees, operating expenses, and taxes.

EdgePoint fees and codes | Download PDF

A TER refers to trading commissions incurred when buying and selling securities. TER applies mainly to equity funds; most fixed-income funds have no TER because bond trading costs are embedded in the bid/ask spread.

TER is deducted from the fund’s assets and reflected in the net performance.

EdgePoint fees and codes | Download PDF

The Fund Expense Ratio (FER) represents the total cost of owning a fund, expressed as a percentage of the fund’s assets. It combines two main components: Management Expense Ratio (MER) + Trading Expense Ratio (TER). FER is not billed separately; it’s deducted from the fund’s assets and reflected in its net performance.

To show our appreciation for our partners who have had the conviction and unwavering long-term view to stay invested with us for 10 or more years, the 10-year Partner Program offers lower management fees. The fee reduction is offered at least annually as a rebate in the form of a management fee distribution rebate (MFR) reinvested in additional units of the Portfolio(s) that you hold.

^{* Investment Management Fee is defined as management fees applicable to Series A, Series A(N), Series F or Series F(N), along with their respective T4/T6 versions, net of trailer fees paid to your Dealer (if applicable), operating expenses and taxes.}

More information on the 10-Year Partner Program is available here.

Short-term trading fees may apply if redemptions and switches occur within 30 days of the purchase.

The process of pricing funds occurs after markets close at 4:00 pm ET. Prices are generally posted on the website after 10:00 pm ET.

First, you’ll need to calculate your personal rate of return. Your dealer account statements (monthly or quarterly) will often show your current personal rate of return using a financial industry standard money-weighted (or dollar-weighted) rate of return methodology. It includes the amount of all your personal cash flows (deposits and withdrawals), timing of the activity, alongside your investment performance. This gives you with a true picture of your specific investment experience.

You can also look at the market value of your investments against your net invested amount. Your net invested amount is the value of all deposits into your account, less any withdrawals.

Many investors calculate their investment growth using book value (which includes distributions) instead of net invested amount. It’s a common mistake that often leads to much confusion for investors. We hope the following short video provides some clarity on investment growth vs. book value, and the impact of distributions on returns.

See Decoding your investment returns for additional details.

You can withdraw/redeem some or all your units of our prospectus Portfolios on any business day for cash, by providing your instructions to your financial representative/ dealer who will facilitate the withdrawal and forward your redemption order to us.

If we receive your redemption order before 4:00 pm ET on any trading day, your redemption price will be based on the applicable NAV per Unit on that date. Otherwise, your redemption price will be based on the applicable NAV per Unit on the next trading day.

For more information on redemption procedures, please see EdgePoint’s Simplified Prospectus under Purchases, Switches, and Redemptions.

The structure of mutual funds provides protection against the possibility of loss due to things like failure of an investment fund company. When you invest in EdgePoint Portfolios, you own units of the Portfolio. The securities within the Portfolios are beneficially owned by the underlying unitholders and are held by a custodian (CIBC Mellon Trust) in accordance with the custody and recordkeeping arrangements disclosed in the Portfolio’s offering documents. If EdgePoint encounters financial difficulties or bankruptcy, your assets are protected by your custodian.

While your investment is protected as described, please note that your return is not guaranteed as the value of securities within the Portfolios will fluctuate.

Under securities law, we are required to notify you on an annual basis that you are entitled to receive semi-annual fund financial reports and management reports of fund performance (MRFPs) of the funds you hold. They are available for viewing on our site or on SEDAR+.

Note – These financial reports contain generic information pertaining to the EdgePoint mutual fund(s) you hold and don’t provide personal account information. Account statements for your holdings are usually provided by your investment dealer on a monthly or quarterly basis.

They're available here.

Distributions are paid in cash (non-registered accounts only) or reinvested in additional units when the net investment income earned by a mutual fund is passed on to individual investors. Income earned may include capital gains, dividend income, interest and return of capital, depending on the Portfolio(s) you hold. Distributions are allocated according to the number of units you own of a fund on the day prior to when the distribution is paid.

When a fund’s investment income is distributed to investors, the income is typically taxed at a much lower rate (or none at all if it’s held in a registered account). Mutual funds are taxed at the highest marginal tax rate, so it’s in everyone’s best interest to have the mutual fund pay a distribution. Reducing the tax paid by the fund increases the income that can be distributed to investors, which improves the return on their investment.

For more information, please see Understanding distributions and Clarifying book value.

When a fund pays a distribution, its NAV per Unit decreases by the amount of the payout. This is because the fund’s assets are reduced by the distribution amount.

However, your investment value doesn’t change because:

• If you reinvest the distribution, you receive additional units equal in value to the payout.

• If you take cash, your account shows the lower fund value plus the cash received.

Example:

• Before distribution: 100 units × $10.00 = $1,000

• Distribution: $0.10 per unit → NAV drops to $9.90

• After reinvestment: 101.01 units × $9.90 = $1,000

• If taken in cash: $990 (fund) + $10 (cash) = $1,000

Bottom line: The unit price drops, but your total value remains the same (except for the impact of market changes).

No. Regardless of how many days you’ve been invested, distributions are allocated according to the number of units you own of the fund on the day prior to the distribution (record date).

Whether distributions are reinvested or paid in cash, they are taxable in the year they are earned if received in a non-registered account.

For reinvested distributions, the adjusted cost base (ACB) of your investment is increased by the distribution amount, which prevents you from being double taxed on the same income. The tax treatment is the same as if you had received the distributions in cash.

Switches between different funds in a non-registered account may result in taxable capital gain or loss. Switches between series of the same underlying fund are not taxable.

In non-registered accounts, from a tax perspective, MFRs are treated the same way as fund distributions, provided the fund has income to distribute. The amount will appear on your T3 tax slip.

We issue PFIC statements for clients with U.S. tax reporting obligations for all of our Portfolios. You can request the statement through your financial representative. PFIC statements are generally distributed in March of any given year.

T1135 is a foreign income verification statement. EdgePoint Portfolios are Canadian mutual fund trusts/entities and not specified foreign property; therefore, we do not issue this slip.