WE ARE VALUE INVESTORS.

Type Of Fund:

Long Equity / Long-Term Capital Appreciation / Global Mid Cap >40% Of Portfolio Outside Of The USA

Objectives Of Fund:

Maximize Absolute Returns Over The Long-Term / Preserve Principle / Own Stakes In Quality Global Businesses

Investment Approach:

Global / Size Agnostic / Concentrated / Contrarian / Margin Of Safety / Value Investing / Long-Term

Returns:

June 2017 Return: -3.69%

2017 YTD (June) Return: 19.66%

Annualized Returns Since Inception March 26, 2014: 24.89%

Cumulative Return Since Inception March 26, 2014: 82.99%

*In Canadian Dollars