Front Street Canadian Energy

Resource Fund

Fund Investment Objectives

The Fund's investment objective is to provide Unitholders with long-term growth through capital appreciation by investing primarily in a diversified portfolio of common shares and common share equivalents of Canadian companies engaged in natural resource industries such as mining and minerals, and precious metals. The Fund will also invest in speculative securities of junior issuers and early-stage companies in these sectors. The Fund may invest in companies that are suppliers to, or otherwise dependent on, these industries, such as drilling services, engineering companies, and machinery and equipment manufacturers, and may invest up to 10% of its assets directly in commodities such as gold, silver, platinum, and palladium in the form of bullion, coins, receipts, certificates, or permitted gold certificates.