Mutual Funds

22.5

Assets Under management

As of May 22, 2026

40

year

Track record

Institutional Thinking for Advisor‑Led Portfolios

For the first time in our four-decade history, Canadian investors who work with advisors can access our institutional‑calibre investment approach through mutual funds. The funds provide access to the same established strategies, managed to the same high standards and by the same investment team that some of Canada’s largest pension plans have relied upon for decades.

Our investment process is built to deliver value by targeting companies with limited downside risk and meaningful potential upside. In an environment where many portfolios are increasingly linked to benchmarks, advisors benefit from strategies designed to provide differentiated sources of return.

“At LetkoBrosseau, there are no double standards. The strategies institutional investors count on to achieve their goals and weather short-term periods of volatility should be available to every investor – and now they are.”

David Després

Executive Vice-President,
Partner

We back up our conviction with our own capital.

The vast majority of firm’s own capital is invested in LBA strategies.

Our process

Our institutional approach encourages in-person research and due diligence of investee companies with direct access to management, supported by the scale and credibility gained through long standing relationships with large pension plans.

Clearly defined goals

Focus on long‑term client outcomes and absolute returns

Seek a margin of safety

Treat risk as the probability of permanent capital loss

Prioritize the payoff

Only pursue ideas where the potential upside meaningfully exceeds the potential risk

Fiercely independent

Independence of thought, research, and investment decisions allows for maximum alignment with clients

Benchmark agnostic

Take a bottom up-approach to identify potential mispriced, high-quality businesses, regardless of index composition

Lead with fundamentals

Invest in companies with strong balance sheets, durable cash flows, capable management, and credible long‑term growth prospects

Encourage debate

Continuously challenge assumptions and positions, including stress-testing ideas against major economic and market shocks

Long term perspective

Accept short‑term price fluctuations when the underlying fundamentals remain sound

“Our priority is to protect the portfolio from experiencing a permanent capital loss. We manage risk by focusing on high-quality companies with a strong margin of safety, prioritizing those with the most compelling growth potential.”

Alex Letko, MBA, CFA®

Regional Manager – Central Canada
Portfolio Manager
Partner

Investment team

20

Portfolio managers and sector analysts

19

CFA® charterholders*

12

Languages spoken

View full team

* CFA®®: A professional certificate offered through the CFA Institute. The certification qualifies one to be a financial analyst. To qualify for a CFA®, one must have worked a certain number of years in the financial industry and must complete three levels of exams on all topics related to investing. CFA® charterholders are required to adhere and annually attest to the CFA Institute Code of Ethics and Standards of Professional Conduct.

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Data displayed for the:

Fund Name	Closing ($)	Previous ($)	Change ($)	Change (%)	Distribution ($)	Fund Facts
Letko Brosseau Canadian Equity Fund	-	-	-	-	-
Letko Brosseau Emerging Markets Equity Fund	-	-	-	-	-
Letko Brosseau International Equity Fund	-	-	-	-	-
Letko Brosseau RSP Balanced Fund	-	-	-	-	-
Letko Brosseau Balanced Fund	-	-	-	-	-
Letko Brosseau Infrastructure Equity Fund	-	-	-	-	-
Letko Brosseau RSP Bond Fund	-	-	-	-	-
Letko Brosseau Bond Fund	-	-	-	-	-

Fund Name	Closing ($)	Previous ($)	Change ($)	Change (%)	Distribution ($)	Fund Facts
Letko Brosseau Canadian Equity Fund	-	-	-	-	-
Letko Brosseau Emerging Markets Equity Fund	-	-	-	-	-
Letko Brosseau International Equity Fund	-	-	-	-	-
Letko Brosseau RSP Balanced Fund	-	-	-	-	-
Letko Brosseau Balanced Fund	-	-	-	-	-
Letko Brosseau Infrastructure Equity Fund	-	-	-	-	-
Letko Brosseau RSP Bond Fund	-	-	-	-	-
Letko Brosseau Bond Fund	-	-	-	-	-

Fund Name	Closing ($)	Previous ($)	Change ($)	Change (%)	Distribution ($)	Fund Facts
Letko Brosseau Canadian Equity Fund	-	-	-	-	-
Letko Brosseau Emerging Markets Equity Fund	-	-	-	-	-
Letko Brosseau International Equity Fund	-	-	-	-	-
Letko Brosseau RSP Balanced Fund	-	-	-	-	-
Letko Brosseau Balanced Fund	-	-	-	-	-
Letko Brosseau Infrastructure Equity Fund	-	-	-	-	-
Letko Brosseau RSP Bond Fund	-	-	-	-	-
Letko Brosseau Bond Fund	-	-	-	-	-

Sustainable Investing
Letko Brosseau, the manager of the Funds, considers ESG-related factors as part of its overall investment process regarding issuers that are subject to equity investments, alongside traditional financial factors, when making investment decisions. By combining financial and ESG risk analysis into the investment management process, Letko Brosseau believes this better helps to manage risk and identify opportunities to generate long-term returns for the Funds. The consideration of how non-financial risks may be financially relevant to issuers is one of the assessments Letko Brosseau uses to guide the investment decisions.

Generally, ESG factors are not likely to drive an investment decision, save for a situation where the ESG risks related to a potential investee company are sufficiently extreme as to make it difficult to make an accurate assessment of the intrinsic value of the business. In this case, Letko Brosseau will exclude the potential investee company from consideration for the portfolio of the Fund. Letko Brosseau also applies an exclusionary or negative screening process pursuant to which it has identified specific industries it chooses its portfolios not to be exposed to or profit from, such as tobacco, gambling, pornography and companies involved in the mining of thermal coal, subject to de minimis thresholds.

ESG integration is not a primary objective nor strategy employed by the Funds, and the Funds are not intended to generate any ESG outcomes. ESG factors may play a limited role, and are not necessarily weighted heavily, in the Funds’ investment decision-making process. The ESG integration approach is focused on understanding all financially material information to deliver strong risk adjusted returns for the Funds and their investors.

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Mutual Funds

22.5

40

Institutional Thinking for Advisor‑Led Portfolios

Our process

Clearly defined goals

Seek a margin of safety

Prioritize the payoff

Fiercely independent

Benchmark agnostic

Lead with fundamentals

Encourage debate

Long term perspective

Investment team

20

19

12

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Letko Brosseau Canadian Equity Fund

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Letko Brosseau Emerging Markets Equity Fund

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Letko Brosseau International Equity Fund

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Letko Brosseau Balanced Fund

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Letko Brosseau Infrastructure Equity Fund

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Letko Brosseau RSP Bond Fund

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Letko Brosseau Bond Fund

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