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Chou Associates Fund Series A

Global Equity

FundGrade C Click for more information on Fundata’s FundGrade

FundGrade C

Click for more information on Fundata’s FundGrade.

Fundata ESG GradeE Click for more information on Fundata’s ESG Grade

Fundata ESG Grade E

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NAVPS
(06-14-2024)
$165.20
Change
-$0.67 (-0.40%)

As at May 31, 2024

As at June 30, 2023

As at February 29, 2024

Period
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Legend

Chou Associates Fund Series A

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Fund Returns

Inception Return (October 31, 1986): 9.68%

Fund Returns
Row Heading Return Annualized Return
1 Mth 3 Mth 6 Mth YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr
Fund 0.00% -0.70% 6.72% 7.32% 7.37% 14.00% 7.87% 21.41% 12.55% 8.21% 7.08% 7.55% 3.87% 4.63%
Benchmark 3.15% 4.24% 14.49% 11.66% 23.70% 15.77% 9.12% 12.93% 11.70% 10.13% 9.81% 11.19% 9.88% 10.97%
Category Average 3.08% 12.88% 12.88% 9.94% 19.26% 11.91% 5.89% 10.52% 9.32% 7.93% 7.58% 8.60% 7.35% 7.97%
Category Rank 2,039 / 2,070 1,968 / 2,064 1,948 / 2,040 1,629 / 2,040 1,898 / 1,950 589 / 1,835 527 / 1,663 7 / 1,510 162 / 1,449 649 / 1,254 703 / 1,117 709 / 970 757 / 793 685 / 726
Quartile Ranking 4 4 4 4 4 2 2 1 1 3 3 3 4 4

Monthly Return

Monthly Return
Return % Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Fund 0.90% 1.86% 0.78% -3.10% -1.87% 2.15% -0.56% 3.98% 3.95% 2.50% -3.12% 0.00%
Benchmark 2.98% 3.28% -0.19% -4.15% -0.71% 6.95% 2.53% 1.41% 5.64% 2.94% -1.84% 3.15%

Best Monthly Return Since Inception

12.14% (February 2021)

Worst Monthly Return Since Inception

-17.05% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund 12.06% -6.95% -2.79% 3.80% -7.95% 1.29% -9.47% 52.47% 9.28% 0.67%
Benchmark 13.97% 16.88% 5.18% 16.29% -1.79% 21.41% 13.15% 17.62% -12.64% 19.37%
Category Average 8.33% 8.98% 3.86% 14.23% -5.38% 19.94% 11.73% 16.21% -13.86% 15.08%
Quartile Ranking 2 4 4 4 4 4 4 1 1 4
Category Rank 193/ 678 756/ 760 809/ 883 1,018/ 1,051 950/ 1,201 1,405/ 1,405 1,459/ 1,486 2/ 1,606 2/ 1,760 1,921/ 1,921

Best Calendar Return (Last 10 years)

52.47% (2021)

Worst Calendar Return (Last 10 years)

-9.47% (2020)

Asset Allocation

Asset Allocation
Name Percent
US Equity 62.10
Cash and Equivalents 25.86
Canadian Equity 5.84
Canadian Corporate Bonds 5.02
International Equity 1.18

Sector Allocation

Sector Allocation
Name Percent
Financial Services 50.72
Cash and Cash Equivalent 25.86
Energy 12.78
Fixed Income 5.02
Healthcare 3.41
Other 2.21

Geographic Allocation

Geographic Allocation
Name Percent
North America 98.96
Europe 1.18
Other -0.14

Top Holdings

Top Holdings
Name Percent
Berkshire Hathaway Inc Cl A 34.30
United States Dollar 25.88
EXCO Resources Inc 12.78
Hertz Global Holdings Inc 13.80% 30-Jun-2051 5.02
Ally Financial Inc 3.48
Bausch Health Cos Inc 3.41
Synchrony Financial 3.37
Navient Corp 2.82
Home Capital Group Inc 2.43
Citigroup Inc 2.20

Equity Style

Market capitalization is large. Equity style is blend.

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Chou Associates Fund Series A

Median

Other - Global Equity

3 Yr Annualized

Standard Deviation 12.97% 18.94% 17.67%
Beta 0.43% 0.87% 0.88%
Alpha 0.04% 0.03% -0.04%
Rsquared 0.19% 0.36% 0.35%
Sharpe 0.43% 0.61% 0.26%
Sortino 0.73% 0.88% 0.25%
Treynor 0.13% 0.13% 0.05%
Tax Efficiency 99.32% 99.01% 95.55%
Volatility Volatility rating is 7 on a scale of 1 to 10 Volatility rating is 10 on a scale of 1 to 10 Volatility rating is 10 on a scale of 1 to 10

Risk Rating

Rating 7 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 8.47% 12.97% 18.94% 17.67%
Beta 0.59% 0.43% 0.87% 0.88%
Alpha -0.06% 0.04% 0.03% -0.04%
Rsquared 0.57% 0.19% 0.36% 0.35%
Sharpe 0.31% 0.43% 0.61% 0.26%
Sortino 0.85% 0.73% 0.88% 0.25%
Treynor 0.04% 0.13% 0.13% 0.05%
Tax Efficiency 100.00% 99.32% 99.01% 95.55%

Fundata ESG Metrics

Fundata ESG Score

The E, S, and G scores are averaged for each security in the portfolio, to arrive at an ESG score for each security. We take the portfolio weighted average of the ESG scores for each fund and rank them against their peers to arrive at the Fundata ESG Score from 0-100.

Fundata E Score

Three scores under the Environment bucket are averaged to yield the Fundata Environment Score for each fund from 0-100: (1) Pollution Prevention, (2) Environmental Transparency, (3) Resource Efficiency.

Fundata S Score

Six scores under the Social bucket are averaged to yield the Fundata Social Score for each fund from 0-100. (1) Compensation and Satisfaction, (2) Diversity and Rights, (3) Education and Work Conditions, (4) Community and Charity, (5) Human Rights, (6) Sustainability Integration.

Fundata G Score

Three scores under the governance bucket are averaged to yield the Fundata Governance Score for each fund from 0-100: (1) Board Effectiveness, (2) Management Ethics, (3) Disclosure and Accountability.

Powered by OWL Analytics. For more information, please contact Fundata Canada.

Fund Details

Start Date October 31, 1986
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Annual
Assets ($mil) $161

Fund Codes

FundServ Code Load Code Sales Status
CHO100

Investment Objectives

The Fund's objective is to provide long-term growth of capital by investing primarily in equity securities of U.S. and foreign businesses considered by the Manager to be undervalued. The Fund may invest in the equity securities of Canadian businesses. Investments may include common and preferred shares, convertible debentures, warrants, government and corporate bonds and short-term indebtedness.

Investment Strategy

The investment process followed in selecting equity investments, convertible debentures, warrants, government and corporate bonds and short-term indebtedness for the Funds is a value-oriented approach to investing. This involves a detailed analysis of the strengths of individual companies, with much less emphasis on short-term market factors.

Portfolio Manager(s)

Name Start Date
Francis Chou 10-01-1986

Management and Organization

Fund Manager Chou Associates Management Inc.
Advisor Chou Associates Management Inc.
Custodian CIBC Mellon Trust Company
Registrar CIBC Mellon Global Securities Services Company
Distributor -
Auditor Grant Thornton LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed No
PAC Initial Investment -
PAC Subsequent -
SWP Allowed No
SWP Min Balance -
SWP Min Withdrawal -

Fees

MER 1.81%
Management Fee 1.50%
Load Back Fee Only
FE Max 2.00%
DSC Max -
Trailer Fee Max (FE) 0.50%
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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