Goodwood Inc.

Goodwood Inc. (and the “Goodwood Fund”) was founded in October, 1996 with a value investment methodology that would be repeatable over time. Using a bottom-up, value-oriented, active and often event-driven approach to investing, our long stated objective (which is specifically outlined in all Annual Reports) to achieve above average performance is sustained by investing in companies below our estimate of their true, underlying worth.

Each day we use a fundamental and research-driven stock selection process. We are seeking to be long those companies that are financially healthy with profitable operations, possess redundant and/or unrecognized assets, are led by quality management, and which are trading below, in our estimate, their intrinsic values. Conversely, we seek to sell short companies with excessive market valuations relative to their true underlying value, companies that are financially vulnerable due to excessive debt, and/or have deteriorating fundamentals. Therefore, we advocate that the true character of the Goodwood Fund is that of a “concentrated value fund that can make short sales".  This methodology has been the foundation for our growing success and strong past performance results.

While the Goodwood Funds actively invest in the North American equity markets, unitholders should expect a high exposure to Canada.  Further, the Goodwood Funds are prohibited from utilizing futures and options, use little to no leverage and are valued both weekly and again at month-end.

We take pride in our reputation for our open investor communication, and strive to continually strengthen our commitment to providing superior transparency to our unitholders. Many of our unitholders provide Goodwood with their current e-mail address. This is important for all unitholders to do so as we publish a "Monthly Commentary" (via e-mail) within the first few business days of each month.  The goal of this regular correspondence is to openly communicate the performance results of your Funds, good or bad, and to provide you with specific details concerning the investments held within the Funds.  We subscribe to the notion that it is in the collective interest of the Fund to have unitholders better understand the companies which we own (and short) and the specific rationale for each investment.

Complete and full transparency is available to unitholders upon request, as we feel  reporting only a net asset value number offers no guidance, nor insight, to what constitutes the net asset value (that being your investment).  As well, we have no false illusions that in periods of lackluster performance the content of the Monthly Commentary’s are more thoroughly reviewed and scrutinized. 

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