Investment Products: Non-Canadian

U.S. Equity
Guardian Capital US Equity product is designed as a diversified portfolio by sector/industry and security selection. The investment style is growth-at-a-reasonable price.

The portfolio is well diversified with mid to large cap bias. The overall emphasis combines a bottom-up view (approximately 90% with a tactical sector tilt) and a top-down view of approximately 10%.

Overall, the selection universe consists of more than 500 companies. We use a proprietary screening model and the portfolio has between 30 to 60 names. The maximum exposure to a single holding is 5% at the time of purchase while no single sub-sector has a weight greater than 25% of the Fund. The Fund will have no more than 5% sector deviation from the Index.

International Equity
Guardian Capital International Equity product is designed as a diversified portfolio by sector/industry and security selection. The investment style is growth-at-a-reasonable price.

The portfolio has a mid to large cap bias. The overall emphasis combines a bottom-up view (approximately 90% with tactical regional and sector tilts) and a top-down view of approximately 10%.

Overall, the selection universe consists of over 1200 companies. We use a proprietary screening model and the portfolio has between 40 to 60 names. The maximum exposure to a single holding is 5% at the time of purchase while no single sub-sector has a weight greater than 25% of the Fund. The Fund will have no more than 5% sector deviaqtion from the Index. The portfolio can have up to 15% exposure to emerging markets.

Global Equity
Guardian Capital believes the global markets are converging. Based on this belief, a key point of differentiation is our market-oriented, bottom-up, sector-neutral approach to selecting the best companies within each sector, regardless of geography. Guardian seeks to isolate stock selection as the primary source of return, with region, country, currency and style being by-products of stock selection. The benchmark for this strategy is the MSCI World index.

Guardian believes that the implications of global convergence on alpha and risk management are significant. Previous sources of Alpha and methods of diversification have lost their effectiveness. For example, country and region selection have contributed less to alpha in recent years and have provided less diversification benefit versus prior decades. Similarly, size and style offsets have been much less effective than in prior decades.

In contrast, our proprietary research shows that a sustainable information advantage can be gained by comparing the rates of change in company fundamentals within global sectors. This enables us to overcome local differences and makes cross border comparisons possible. In particular, the relationship between fundamental change and stock price behavior is universally relevant. This allows us to identify the strongest companies within each global sector. Therefore, diversifying by sector, then applying a bottom-up, best-of-breed approach to global stock selection can generate sustainable alpha.