(As of 11/30/2025)

PH&N LifeTime 2025 Fund Series O

(2025 Target Date Portfolio)

FundGrade A+^® Rating recipient
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2022

Inception Return (1/10/2011)	7.13 %
YTD Return	7.85 %

NAVPS (12/12/2025)	$13.28
Change	($0.02) / -0.12 %

Growth of $10,000 (As of November 30, 2025)

MER	0.09 %
Assets ($mil)	$125.60
Rank (1Yr)	13/15
Std Dev (3Yr)	8.83 %
Volatility Ranking (3Yr)	3/10
RRSP Eligibility	Yes
Load	No Load
Max Front End	-
Max Back End	-
Sales Status	Open

Objective

The fundamental investment objectives of the Fund are to achieve a balance of income and long-term capital growth relative to its target retirement date of 2025 by investing primarily in investment funds that invest in equity, fixed-income, income trust and money market securities and ETFs, or by investing directly in such securities.

Fund Manager

RBC Global Asset Management Inc.

Portfolio Manager

Sarah Riopelle, RBC Global Asset Management Inc.

Ashley Warburton, RBC Global Asset Management Inc.

Sub-Advisor

Asset Allocation
(As of October 31, 2025)

Sector Allocation
(As of October 31, 2025)

Geographic Allocation
(As of October 31, 2025)

Top 10 Holdings

Name	Asset	Sector	Geographic	Percent
PH&N Short Term Bond & Mortgage Fund Series O	Domestic Bonds	Fixed Income	Canada	26.11%
PH&N High Yield Bond Fund Series O	Foreign Bonds	Fixed Income	Multi-National	18.38%
RBC QUBE Low Volatility Global Equity Fund O	International Equity	Mutual Fund	Multi-National	10.52%
PH&N Conservative Equity Income Fund Series O	Canadian Equity	Mutual Fund	Canada	7.45%
RBC Bond Fund Series O	Domestic Bonds	Fixed Income	Canada	6.77%
PH&N U.S. Equity Fund Series O	US Equity	Mutual Fund	United States	5.52%
RBC QUBE Global Equity Fund Series O	International Equity	Mutual Fund	Multi-National	4.94%
PH&N High Yield Bond Fund Series O	Foreign Bonds	Fixed Income	Multi-National	3.91%
RBC High Yield Bond Fund Series O	Domestic Bonds	Fixed Income	Canada	3.86%
RBC Canadian Core Real Estate Fund Series N	Other	Mutual Fund	Canada	3.11%

Performance Data (As of November 30, 2025)

	Return (%)				Annualized Return (%)
Return	1 Mth	3 Mth	6 Mth	YTD	1 Yr	3 Yr	5 Yr	10 Yr
Fund	0.86	2.98	5.44	7.85	6.95	7.21	4.63	6.24
Benchmark	2.24	7.03	12.58	17.61	15.21	12.24	8.70	7.71
Quartile Ranking	1	4	4	4	4	4	4	-

Calendar Return (%)	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Fund	9.66	6.03	-9.98	10.13	10.47	14.77	-0.74	7.07	7.65	7.31
Benchmark	13.55	9.43	-8.20	11.90	7.61	15.62	-4.30	6.22	11.97	-3.02
Quartile Ranking	4	4	2	2	-	-	-	-	-	-

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