BEUTEL GOODMAN MANAGED FUNDS
Annual Financial Report - Beutel, Goodman & Company Ltd.
Annual Financial Report - Beutel, Goodman & Company Ltd.
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Beutel Goodman ■ Global Dividend Fund<br />
Schedule of Investment Portfolio as at December 31, 2014<br />
Average Fair % of<br />
Number of Shares/ Coupon Maturity Cost Value Net<br />
Par Value Rate (%) Date $ $ Assets<br />
Short-Term Investments (2013 – 0.38%)<br />
Treasury Bills<br />
50,000 Government of Canada 0.884% 29-Jan-15 49,888 49,888 0.11<br />
2,375,000 Government of Canada 0.885% 12-Mar-15 2,369,852 2,369,852 5.10<br />
225,000 Government of Canada 0.896% 26-Mar-15 224,460 224,460 0.48<br />
25,000 Government of Canada 0.915% 9-Apr-15 24,938 24,938 0.05<br />
2,669,138 2,669,138 5.74<br />
Common Stocks (2013 – 99.51%)<br />
Belgium<br />
13,700 Dieteren SA/NV 641,319 562,497 1.21<br />
641,319 562,497 1.21<br />
Cyprus<br />
347,400 ProSafe SE 3,035,620 1,234,358 2.66<br />
3,035,620 1,234,358 2.66<br />
Finland<br />
59,575 Konecranes OYJ 1,871,196 1,988,895 4.28<br />
1,871,196 1,988,895 4.28<br />
France<br />
22,080 Cie Generale des Etablissements Michelin 2,391,186 2,329,308 5.01<br />
2,391,186 2,329,308 5.01<br />
Germany<br />
21,535 Deutsche Boerse AG 1,469,908 1,787,390 3.85<br />
17,800 GEA Group AG 912,170 913,076 1.96<br />
79,400 Telefonica Deutschland Holding AG 504,803 490,867 1.06<br />
2,886,881 3,191,333 6.87<br />
Japan<br />
121,700 NTT DOCOMO Inc. 1,957,580 2,078,619 4.47<br />
1,957,580 2,078,619 4.47<br />
Netherlands<br />
23,796 Akzo Nobel NV 1,712,435 1,922,690 4.14<br />
55,047 Koninklijke Philips NV 1,724,169 1,848,991 3.98<br />
3,436,604 3,771,681 8.12<br />
Average Fair % of<br />
Number of Shares/ Cost Value Net<br />
Par Value $ $ Assets<br />
Norway<br />
197,200 Atea ASA 2,068,489 2,345,748 5.05<br />
80,610 Gjensidige Forsikring ASA 1,332,858 1,519,261 3.27<br />
79,300 TGS Nopec Geophysical Co ASA 2,246,165 1,980,920 4.26<br />
5,647,512 5,845,929 12.58<br />
Singapore<br />
54,000 DBS Group Holdings Ltd. 925,302 972,335 2.09<br />
925,302 972,335 2.09<br />
United Kingdom<br />
351,940 Kingfisher PLC 1,968,528 2,164,230 4.66<br />
211,833 Rexam PLC 2,105,493 1,736,104 3.74<br />
176,195 RSA Insurance Group PLC 1,259,078 1,384,205 2.98<br />
59,000 Spectris PLC 2,011,650 2,239,765 4.82<br />
231,340 Vesuvius PLC 1,606,207 1,864,223 4.01<br />
648,700 Vodafone Group PLC 2,694,098 2,608,459 5.60<br />
11,645,054 11,996,986 25.81<br />
United States<br />
34,100 Baxter International Inc. 2,544,427 2,894,690 6.23<br />
21,290 Caterpillar Inc. 1,926,741 2,257,055 4.86<br />
71,000 Symantec Corp. 1,706,163 2,109,762 4.54<br />
47,200 Verizon Communications Inc. 2,575,064 2,557,439 5.50<br />
8,752,395 9,818,946 21.13<br />
Total Common Stocks 43,190,649 43,790,887 94.23<br />
Transaction Costs (128,067)<br />
Total Investments 43,062,582 43,790,887 94.23<br />
Total Investments and Short-Term Investments 45,731,720 46,460,025 99.97<br />
Other Assets Net of Liabilities 11,629 0.03<br />
Net Assets Attributable to Holders of Redeemable Units 46,471,654 100.00<br />
The accompanying notes are an integral part of these financial statements.<br />
Beutel Goodman Managed Funds Annual Report as at December 31, 2014 43
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