Kingwest Avenue Partners L.P.

To December 31, 2022

Investment Objective

The objective of the Kingwest Avenue Partners L.P. is to earn risk adjusted returns over a market cycle that are attractive compared to those available from market indices. The fund has a focus on long term holdings of equity securities listed on North American exchanges.

Portfolio Details

Asset Class: Equities

Inception Date: October 2014

Minimum Investment: $500,000

RRSP/RRIF Eligible: No

Portfolio Statistics

# of Companies: 50
Median Market Cap: $38.8b
Average Return on Equity: 16.0%
Dividend Yield: 2.7%
Ann. Portfolio Turnover (5 yrs): 9.6%
Active Share CDN vs. S&P/TSX: 73.7%
Active Share US vs. S&P500: 89.1%

Fees and Terms

Annual Fee: 0.5%
Profit Allocation: Less than 6% net=0%, greater than 6% net=20% (net return=gross return-annual fee)
High Water Mark: Yes
Redemption: Mid-month & end of month
Lock-up: None
Custodian: National Bank
Prime Broker: National Bank
Lawyer: Fogler, Rubinoff LLP
Auditor: Segal LLP

Representative Holdings

Toronto-Dominion Bank
Cigna Corp
Colliers Intl Grp Inc SVS
Cdn Imperial Bank of Commerce
Blackstone Group Inc. CI – A

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.