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NCM Core International

NCM Core International offers exposure to global equity markets outside of Canada and the United States, targeting an attractive long-term return with lower volatility than the market.

This fund holds a concentrated portfolio of world-class companies with leadership positions in their markets, strong balance sheets and growing cash flows. It is run by an experienced and proven team with a disciplined approach to portfolio management.

Phil D'Iorio, MBA, CFA

Phil D'Iorio, MBA, CFA

Investment Management

I search around the globe for best-of-breed companies trading at attractive valuations. And I spend a significant amount of time thinking about portfolio construction to ensure that the portfolio is optimized to reflect where we are in the cycle.

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Fund Benefits

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Be more active

This fund exhibits high active share. Use it alone or pair it with passive or index-like funds for an excellent balance of cost, performance and risk.

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Reduce risk

This fund aims for low-beta performance. Use it to add international equity exposure to a portfolio while keeping volatility in check.

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Lower costs

This fund offers Z Series, which caps the management fee at $1,000 + taxes per year. Take advantage of this feature for some of the lowest costs in Canada.

Risk Rating

Risk Rating: 3 of 5


Except where indicated otherwise, F Series data, net of fees, * annualized.

On November 1, 2021, the investment objective of NCM Core International (formerly, Core American) was changed from investing primarily in a diversified portfolio of dividend-paying U.S. equity securities and classified in the CIFSC category as U.S. Equity into its current CIFSC category of International Equity, investing primarily in publicly-traded equity securities of companies based outside of Canada and the United States. If the change had been in effect prior to November 1st, 2021, the Fund’s performance could have been materially different.

Past performance is no guarantee of future results. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.