Investment Policy Statement

The Investment Policy Statement contains the guidelines within which a Portfolio Manager exercises discretionary authority in managing a client’s investment portfolio.

The Investment Policy Statement results from a thorough assessment of each client’s personal and financial circumstances, investment needs and objectives, including income requirements, risk profile, investment time horizon, investment knowledge, tax position and special circumstances. Based on a client’s investment policy, the Portfolio Manager implements an investment strategy that is consistent with the policy.

The Investment Policy Statement is reviewed at least once each 12-month period to determine whether or not its objectives are intact. The Investment Policy Statement is amended whenever a client’s circumstances have materially changed.