Reasons for considering the termination of the services of a portfolio manager include, but are not limited to, the following factors: performance results, which over a reasonable period of time, are below the stated performance benchmarks; changes in the overall structure of the Fund such that the manager's services are no longer required; change in personnel, firm structure and investment philosophy, style or approach which might adversely affect the potential return and/or risk level of the portfolio; and/or failure to adhere to this policy. Appendix 1 Definitions Alternate (non-traditional) Assets - Alternate Assets are defined as an investment that is not one of the three traditional asset classes (stocks, bonds and cash or cash equivalents).The manager has full discretionary authority to use traditional and non-traditional assets and strategies to achieve their stated objective. Within the boundaries established by Canadian securities regulators, managers may use any financial means or instruments available to aggressively grow and or protect asset values. Alternative assets may include hedge funds, managed futures, real estate, commodities, venture capital and derivatives contracts. Over and above traditional fundamental analysis, alternate asset managers may use the following investment strategies: merger arbitrage, convertible arbitrage, high yield debt, capital structure arbitrage, fundamental longs, shorts, options and other special situations. Asset Mix - the process of dividing investments into different asset classes, such as stocks, bonds, alternate assets, and cash in order to optimize the risk/return trade-off of a portfolio. This process is based on factors including investment time horizon, liquidity needs, risk tolerance, specific goals and situations, and legal and tax considerations. Bank Deposits - for the purpose of this asset mix, "Bank Deposits" include all term deposits and policy’s GIC’s, savings accounts at RBC, TD Bank, Bank of Montreal, Bank of Nova Scotia, and CIBC regardless of Canadian Deposit Insurance Corporation (CDIC) coverage. That portion of deposits covered by CDIC at all other institutions is also included. Custodian - a financial institution, usually a bank or trust company, which holds an investment portfolio’s securities and cash in safekeeping. Default Risk
Reasons for considering the termination of the services of a portfolio manager include, but are not limited to, the following factors: performance results, which over a reasonable period of time, are below the stated performance benchmarks; changes in the overall structure of the Fund such that the manager's services are no longer required; change in personnel, firm structure and investment philosophy, style or approach which might adversely affect the potential return and/or risk level of the portfolio; and/or failure to adhere to this policy. Appendix 1 Definitions Alternate (non-traditional) Assets - Alternate Assets are defined as an investment that is not one of the three traditional asset classes (stocks, bonds and cash or cash equivalents).The manager has full discretionary authority to use traditional and non-traditional assets and strategies to achieve their stated objective. Within the boundaries established by Canadian securities regulators, managers may use any financial means or instruments available to aggressively grow and or protect asset values. Alternative assets may include hedge funds, managed futures, real estate, commodities, venture capital and derivatives contracts. Over and above traditional fundamental analysis, alternate asset managers may use the following investment strategies: merger arbitrage, convertible arbitrage, high yield debt, capital structure arbitrage, fundamental longs, shorts, options and other special situations. Asset Mix - the process of dividing investments into different asset classes, such as stocks, bonds, alternate assets, and cash in order to optimize the risk/return trade-off of a portfolio. This process is based on factors including investment time horizon, liquidity needs, risk tolerance, specific goals and situations, and legal and tax considerations. Bank Deposits - for the purpose of this policy’s asset mix, "Bank Deposits" include all GIC’s, term deposits and savings accounts at RBC, TD Bank, Bank of Montreal, Bank of Nova Scotia, and CIBC regardless of Canadian Deposit Insurance Corporation (CDIC) coverage. That portion of deposits covered by CDIC at all other institutions is also included. Custodian - a financial institution, usually a bank or trust company, which holds an investment portfolio’s securities and cash in safekeeping. Default Risk
Foundation_Investment_Policy_Statement33032.docx