(As of 9/30/2025)

PH&N LifeTime 2045 Fund Series O

(2045 Target Date Portfolio)

FundGrade A+^® Rating recipient
For more information about FundGrade click here

Inception Return (1/10/2011)	9.13 %
YTD Return	13.71 %

NAVPS (10/24/2025)	$18.30
Change	$0.10 / 0.55 %

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

MER	0.09 %
Assets ($mil)	$479.46
Rank (1Yr)	-
Std Dev (3Yr)	11.60 %
Volatility Ranking (3Yr)	5/10
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 2045 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 August 31, 2025)

Sector Allocation
(As of August 31, 2025)

Geographic Allocation
(As of August 31, 2025)

Top 10 Holdings

Name	Asset	Sector	Geographic	Percent
PH&N U.S. Equity Fund Series O	US Equity	Mutual Fund	United States	14.69%
PH&N Canadian Equity Underlying Fund Series O	Canadian Equity	Mutual Fund	Canada	12.50%
RBC Global Equity Leaders Fund Series O	International Equity	Mutual Fund	Multi-National	11.56%
PH&N Canadian Equity Value Fund Series O	Canadian Equity	Mutual Fund	Canada	10.75%
RBC QUBE Global Equity Fund Series O	International Equity	Mutual Fund	Multi-National	9.49%
RBC Emerging Markets Equity Fund Series O	International Equity	Mutual Fund	Multi-National	8.47%
RBC International Equity Fund Series O	International Equity	Mutual Fund	Multi-National	5.67%
PH&N High Yield Bond Fund Series O	Foreign Bonds	Fixed Income	Multi-National	5.51%
RBC Global Equity Focus Fund Series O	International Equity	Mutual Fund	Multi-National	4.99%
RBC Canadian Core Real Estate Fund Series N	Other	Mutual Fund	Canada	2.81%

Performance Data (As of September 30, 2025)

	Return (%)				Annualized Return (%)
Return	1 Mth	3 Mth	6 Mth	YTD	1 Yr	3 Yr	5 Yr	10 Yr
Fund	4.06	8.05	13.56	13.71	17.22	14.86	7.63	8.64
Benchmark	4.09	8.05	12.57	12.21	16.90	18.96	10.47	9.68
Quartile Ranking	3	3	-	-	-	-	-	-

Calendar Return (%)	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Fund	17.09	5.94	-15.15	11.96	15.21	18.98	-2.41	12.27	8.35	9.85
Benchmark	21.57	15.07	-12.03	11.33	12.17	16.29	0.72	11.99	3.66	17.03
Quartile Ranking	-	-	-	-	-	-	-	-	-	-

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