Beutel Goodman American Equity Fund
Beutel Goodman American Equity Fund seeks long-term capital appreciation by investing in mid- to large-cap U.S. stocks. Maximum single-holding and sector weights are set to provide diversification. The portfolio is built using bottom-up, fundamental research to seek to invest in quality companies with stable, growing businesses and strong balance sheets at discounts to their business value. We believe this focus can provide a margin of safety and help mitigate the potential of capital loss. Our approach includes a process-driven sell discipline, with a one-third sale of securities that exceed the upside target we have set and a secondary review for stocks that exceed their downside targets.
all data as at 31 December 2025, except where indicated
Performance
Returns (%)
| 1 month | 3 months | 1 year | 2 years | 3 years | 5 years | 10 years | YTD | Since Inception |
|---|---|---|---|---|---|---|---|---|
| -0.52 | 0.80 | -0.43 | 9.49 | 9.13 | 9.78 | 10.44 | -0.43 | 10.37 |
Performance Start Date:
01 August 2006
Calendar Year Returns (%)
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|
| -0.43 | 20.40 | 8.42 | 8.57 | 12.99 | 8.11 | 22.62 | -0.94 | 13.07 | 13.99 |
| Date | NAV ($) | Price Change ($) | Price Change (%) | Distribution Amount ($) |
|---|---|---|---|---|
all data as at 31 December 2025, except where indicated
Performance
Returns (%)
| 1 month | 3 months | 1 year | 2 years | 3 years | 5 years | 10 years | YTD | Since Inception |
|---|---|---|---|---|---|---|---|---|
| 1.18 | 2.32 | 4.48 | 7.39 | 8.71 | 8.19 | N/A | 4.48 | 11.12 |
Performance Start Date:
01 June 2020
Calendar Year Returns (%)
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|
| 4.48 | 10.39 | 11.40 | 1.22 | 13.96 | N/A | N/A | N/A | N/A | N/A |
| Date | NAV ($) | Price Change ($) | Price Change (%) | Distribution Amount ($) |
|---|---|---|---|---|
all data as at 31 December 2025, except where indicated
Performance
Returns (%)
| 1 month | 3 months | 1 year | 2 years | 3 years | 5 years | 10 years | YTD | Since Inception |
|---|---|---|---|---|---|---|---|---|
| -0.61 | 0.53 | -1.49 | 8.33 | 7.98 | 8.62 | 9.27 | -1.49 | 12.35 |
Performance Start Date:
01 October 2010
Calendar Year Returns (%)
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|
| -1.49 | 19.12 | 7.28 | 7.42 | 11.79 | 6.97 | 21.32 | -1.99 | 11.88 | 12.79 |
| Date | NAV ($) | Price Change ($) | Price Change (%) | Distribution Amount ($) |
|---|---|---|---|---|
all data as at 31 December 2025, except where indicated
Performance
Returns (%)
| 1 month | 3 months | 1 year | 2 years | 3 years | 5 years | 10 years | YTD | Since Inception |
|---|---|---|---|---|---|---|---|---|
| 1.08 | 2.04 | 3.36 | 6.25 | 7.56 | 7.04 | N/A | 3.36 | 9.94 |
Performance Start Date:
01 June 2020
Calendar Year Returns (%)
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|
| 3.36 | 9.21 | 10.24 | 0.15 | 12.75 | N/A | N/A | N/A | N/A | N/A |
| Date | NAV ($) | Price Change ($) | Price Change (%) | Distribution Amount ($) |
|---|---|---|---|---|
all data as at 31 December 2025, except where indicated
Performance
Returns (%)
| 1 month | 3 months | 1 year | 2 years | 3 years | 5 years | 10 years | YTD | Since Inception |
|---|---|---|---|---|---|---|---|---|
| -0.55 | 0.70 | -0.82 | 9.06 | 8.70 | 9.34 | 10.00 | -0.82 | 7.98 |
Performance Start Date:
01 April 1991
Calendar Year Returns (%)
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|
| -0.82 | 19.93 | 7.98 | 8.14 | 12.54 | 7.69 | 22.14 | -1.33 | 12.64 | 13.55 |
| Date | NAV ($) | Price Change ($) | Price Change (%) | Distribution Amount ($) |
|---|---|---|---|---|
all data as at 31 December 2025, except where indicated
Performance
Returns (%)
| 1 month | 3 months | 1 year | 2 years | 3 years | 5 years | 10 years | YTD | Since Inception |
|---|---|---|---|---|---|---|---|---|
| 1.14 | 2.21 | 4.06 | 6.97 | 8.28 | 7.76 | N/A | 4.06 | 10.68 |
Performance Start Date:
01 June 2020
Calendar Year Returns (%)
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|
| 4.06 | 9.95 | 10.96 | 0.81 | 13.51 | N/A | N/A | N/A | N/A | N/A |
| Date | NAV ($) | Price Change ($) | Price Change (%) | Distribution Amount ($) |
|---|---|---|---|---|
Portfolio Analysis
Top 10 Holdings
as at 30 November 2025
| Company | % |
|---|---|
| Medtronic | 5.7 |
| Merck & Co. | 5.5 |
| Chubb | 5.2 |
| Omnicom Group | 5.2 |
| Westinghouse Air Brake Technologies | 4.9 |
| Amgen | 4.9 |
| NetApp | 4.5 |
| PPG Industries | 4.5 |
| Gen Digital | 4.4 |
| Kimberly-Clark | 4.4 |
Documents
| Fund Facts, Beutel Goodman American Equity Fund, Class B |
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| Fund Facts, Beutel Goodman American Equity Fund, Class D |
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| Fund Facts, Beutel Goodman American Equity Fund, Class F |
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| Quarterly Portfolio Disclosure |
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| Annual Distributions |
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