Capital Fund

Fund Investment Objectives

The Goodwood Capital Fund (the "Fund") investment objective is to achieve capital appreciation by investing primarily in equity securities of North American exchange-listed securities based on a bottom-up, company specific approach. The portfolio is relatively concentrated with 8-10 core positions typically representing over 50% of the portfolio. The value-oriented stock picking strategy allows the Manager to focus on a limited number of ideas and build strong relationships with senior management of investee companies. The Fund is offered through a Simplified Prospectus with an initial minimum purchase of C$5, 000.