Kingwest Balanced Portfolio

To December 31, 2022

Investment Objective

Aimed at achieving a balance of current income, stability and long-term capital appreciation by investing primarily in a diversified portfolio of dividend paying preferred and common shares, real estate investment trusts, convertible debentures and fixed-income securities.

Equities are selected for yield and to provide capital appreciation along with a rising income stream as dividend yields increase.

The fixed income component is to provide current income while helping to mitigate both interest rate risk and equity volatility in the portfolio.

We actively change the asset mix based upon relative asset valuations. Our current target mix is 65% equities, 35% fixed income (it is currently 6% short to mid-term preferred shares and 29% short to mid-term bonds).

This information does not constitute an offer of securities. Such an offer will only be made by means of a Confidential Memorandum to be furnished to prospective investors prior to an investment being made. Past performance is not indicative of future results.

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