We are pleased to present this report for the calendar year ending 2009.
We are pleased to inform you that Goodman & Company, Investment Counsel Ltd. (the "Manager") has been most cooperative in keeping the Independent Review Committee (the "IRC") fully updated of any potential or actual conflicts during the period. In addition, the Manager has provided to the IRC with administrative personnel that enabled our committee to have meaningful oversight with respect to carrying out by the Manager fulfilling of its Policies and Procedures, the whole with a view to preventing any conflicts of interest.
We are thus pleased to present to the Unitholders of the Funds listed in Appendix A this the third Report of the IRC
Sincerely
Brahm Gelfand
Chair of the Independent Review Committee
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