2011 Partners
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2010, BlackRock’s AUM was US$3.561 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock SolutionsTM. Headquartered in New York City, as of December 31, 2010, the firm has approximately 9,100 employees in 25 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $390 billion as at April 30, 2010, and more than 36,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
BMO Exchange Traded Funds is a diversified family of ETFs and includes a broad range of domestic and global investment solutions covering a full array of asset classes, sectors and regions. BMO ETFs are managed and administered by BMO Asset Management Inc., a wholly-owned, indirect subsidiary of Bank of Montreal.
BNP Paribas Investment Partners is the dedicated autonomous asset management business of the BNP Paribas Group. BNP Paribas Investment Partners offers the full range of investment management services to both institutional and retail clients around the world. Central to the way we work is the concept of partnership – both in terms of how we behave as a family of companies and how we work with our clients. Within our family of companies, Fischer Francis Trees & Watts (FFTW) is our Global Fixed Income and Active Currencies specialist, headquartered in New York. Over 800 investment professionals work across our network of some 60 investment centres, each specializing in a particular asset class or type of product. Overall, BNP Paribas Investment Partners focuses on four key areas of strength:
Emerging markets, where our large on-the-ground presence translates into strong equity and debt capabilities;
Core strategies, such as our very capable US and European equity teams, and our global credit team;
Alternatives, including high-quality teams in infrastructure, direct real estate, commodities and funds of hedge funds; and
Solutions, where our Financial Engineering team and our LDI and risk specialists work closely with our clients, using our full range of capabilities as building blocks, to create fully-customized approaches to meeting each client’s needs.
Our total assets under management were C$ 725 billion as of December 31, 2010.
The Gargoyle Group is a US-based investment management company that specializes in sophisticated equity options strategies. With 19 investment professionals and a total of nearly 50 employees, Gargoyle is one of the nation’s largest private options firms and a foremost practitioner of using options to hedge equities.
The Gargoyle Group’s seven partners gained broad stock- and options-related experience at both the American Stock Exchange and prominent brokerage firms prior to establishing the firm in 1988.
Gargoyle provides institutional investors with options-based Overlay Programs and manages a dynamically-hedged Value Equity Fund open to qualified investors. In addition Gargoyle acts as an options market maker. In all endeavors, The Gargoyle Group emphasizes discipline and risk management.
The Gargoyle Group is guided by the following five principles:
• Every equity portfolio can benefit from disciplined and efficient hedging.
• Market volatility is a daily phenomenon that requires continual (rather than static) hedging to maintain a portfolio’s desired risk/reward profile.
• Every investment decision should be driven by a statistical probability of success.
• All investment strategies must be diversified and confirmed by favorable, long-term investment results.
• Investors deserve a high degree of transparency and liberal liquidation terms
Founded in 1998, Highstreet Asset Management Inc. is an investment advisory firm with headquarters in London, Ontario. With $6.4 billion in assets (February 28, 2011), Highstreet manages pooled and segregated portfolios for pensions, corporations, foundations and private investors. Highstreet also provides portfolio advisory services through our sub-advisory relationships. Highstreet is known for its quantitative investment process and focus on risk management.
As a quantitative manager, Highstreet uses the mathematical analysis of financial statements as a guide in making investment decisions. The quantitative method provides an unbiased, fact-based approach to managing equities. Highstreet’s investment process creates portfolios with superior earnings growth rates than the market, with more attractive valuations and higher quality characteristics than the market. While optimizing these attributes, Highstreet’s proprietary risk management system allows for the continuous management of the portfolio’s risk profile, resulting in improved expected returns on a risk-adjusted basis.
The Investcorp Hedge Fund Program, established in 1996, manages approximately $5 billion in AUM, of which, $1 billion is proprietary capital co-invested alongside the Firm's clients. Investcorp, and its clients, access hedge funds via three product lines: direct single manager hedge funds seeded by Investcorp, customized FoHFs, and traditional commingled FoHFs. With an institutional infrastructure, innovative research, proprietary risk systems, and access to top-tier investment talent, Investcorp maintains its reputation as a sophisticated hedge fund investor. Aided by the extensive use of managed accounts and multiple levels of investment and operational risk oversight, transparency is the core of the Firm's hedge fund investment activities.
KPMG's Financial Services Practice consists of more than 600 experienced professionals across Canada. With access to one of the largest global industry networks we offer customized, industry-focused Audit, Tax, and Advisory services. Our Financial Services teams have the experience, technical skills and industry focus to help clients address and overcome sector-specific business challenges. We help to clarify the issues and enhance competitive advantage.
Our Financial Services practice comprises four areas of focus:
• Banking & Finance
• Asset Management
• Insurance
• Investment Dealers
KPMG’s dedicated and results oriented approach can see you through your toughest business challenges. With our dynamic portfolio, we can help our clients realize their potential.
Marret Asset Management Inc. is a credit fixed income manager. The firm advises on over $5.2 billion in high yield and investment grade corporate debt assets for institutional and retail clients.
Marret is registered as a Portfolio Manager, Exempt Market Dealer and Commodity Trading Manager with the Ontario Securities Commission. The firm was founded in Toronto by Barry Allan and began operations in late 2001. Marret is 100% employee-owned and is committed to maintaining significant employee ownership in order to assemble the most qualified credit team and to achieve the best possible returns for clients.

RBC Dexia Investor Services offers a complete range of investor services to institutions worldwide. Our unique offshore and onshore solutions, combined with the expertise of our 5,400 professionals in 15 markets, help clients grow their business and sustain enhanced performance through efficiency improvements and robust risk management practices.
Equally owned by RBC and Dexia, the company ranks among the world's top 10 global custodians with USD 2.8 trillion in client assets under administration.
Our complete range of investor services is supported by:
• a worldwide network of offices in 15 countries on four continents
• award-winning European transfer agency capabilities
• fund administration services in 13 global markets
• strong credit ratings: Aa3 (Moody’s), AA- (S&P)
• more than 100 years of experience in institutional financial services
• products and technology that meet our clients’ evolving needs
• top ratings for client service in industry client satisfaction surveys
Services offered
RBC Dexia’s innovative solutions include global custody, fund and pension administration, shareholder services, distribution support, securities lending and borrowing, reconciliation services, compliance monitoring and reporting, investment analytics, and treasury services. rbcdexia.com

Schroder Investment Management is a global asset management company with more than 200 years of experience in world financial markets. We manage approximately $286.1 billion globally as of September 30, 2010 in assets for clients around the world, including: public and private pension funds, endowments and foundations, major financial institutions (such as banks and insurance companies), intermediaries and advisors, high net worth individuals and retail investors. Schroders maintains one of the largest networks of offices of any dedicated asset management company, with more than 330 investment portfolio managers and analysts in 32 offices in 25 countries. As a research driven firm, we are committed to independence: more than 75 percent of the research used in our investment processes is produced in house. These capabilities and resources support a comprehensive range of products and services, covering all major investing regions and the entire range of asset classes and strategies. The company is a purely focused asset management business offering clients tremendous breadth in locally managed products, delivered through a fully integrated global distribution platform.
Strategic Partners
The Chartered Alternative Investment Analyst Association® is an independent, not-for-profit global organization committed to education and professionalism in the field of alternative investments. Founded in 2002, the Association is the sponsoring body for the CAIASM designation. Recognized globally, the designation certifies one’s mastery of the concepts, tools and practices essential for understanding alternative investments and promotes adherence to high standards of professional conduct.
Founded in 1987, Integra Capital Management Corporation is a Canadian asset management firm that partners with leading, world-class investment managers from Canada and around the world to provide institutional investors with both traditional and innovative strategies to meet their evolving needs. Through its wholly owned subsidiary Integra Capital Limited (“Integra”), we provide Canadian institutional investors with exclusive access to a broad range of specialist strategies through a number of multi-manager and single manager pooled and segregated funds. The multi-manager funds are designed using a multi-dimensional diversification approach by selecting and combining the right mix of asset classes, managers, styles, and cap sizes. Integra is registered as a Portfolio Manager in every Province and as a Commodity Trading Manager with the Ontario Securities Commission. In the Provinces of Newfoundland and Ontario, Integra Capital Limited is also registered as an Exempt Market Dealer.
Lyxor Asset Management (“Lyxor”) is the asset management division of Société Générale Group and was founded in 1998. Lyxor manages $116 billion (as of February 2010) across three business lines: Alternative Investments (via single strategy hedge funds as well as funds of funds), Quantitative & Structured Funds, and Index Funds & ETFs. Lyxor’s guiding principles are innovation, transparency and flexibility.
The firm is best known for its award-winning Managed Account Platform, which consists of more than 100 individual hedge funds across a broad range of strategies. Additionally, Lyxor manages several multi-manager vehicles, including traditional commingled funds of hedge funds, and funds of managed accounts. Lyxor also constructs customized hedge fund portfolios for sophisticated investors.
Lyxor employs over 500 professionals, including 40 in New York. Lyxor Asset Management Inc. is the U.S. subsidiary of Lyxor and is a U.S. registered investment adviser.