Thanks for the interest. The Cambridge Growth Companies Fund was designed to be evolutionary from the existing Cambridge lineup and thus will have modest overlap with our existing funds. Part of this will be due to style differences among managers but we have also imposed a 10% cap on Canadian equities within the fund in comparison to the Canadian Growth Companies Fund having to be at least 51% Canada. You will recall, we soft-capped the Canadian Growth Companies Fund back in March to help manage the overall exposure to Canadian small cap companies and to ensure it could continue delivering the types of returns we expect and not need to deviate from its focus as the fund grew in size. We would rather the fund grew through performance and not net sales.
The geographic breakdown is roughly 75% U.S., 15% Europe/other, and 10% Canada with the focus being on small and mid-cap companies in all geographies. We are able to hedge currency but will not be doing so at the current exchange rates. It is entirely at our discretion.
Hope this helps and stay tuned for a more detailed review in the coming days.