| At Goodwood, we are firmly committed to providing investors with a governance framework that instills business ethics in all areas of our firm. We believe that appropriate governance begins with communication and we promote a large degree of transparency to our investors. To preserve public confidence and respect, and to ensure that investors’ interests are protected, Goodwood has adopted practices to meet regulatory requirements and maintain the highest standards of compliance.
| CORPORATE GOVERNANCE PRACTICES |
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| "Complete, accurate and timely communication with our investors provides them with insight and transparency on their capital entrusted with Goodwood.” |
| -Cam MacDonald CFA,
President & CEO |
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Maintaining High Regulatory Standards
Goodwood takes careful and controlled measures to ensure our investors’ interests are protected.
1. Goodwood is a licensed member with the Investment Dealers Association (IDA)
Goodwood Inc. has been a registered member of the Investment Dealers Association (IDA) since 1999. As Canada's national self-regulatory organization for the securities industry, the IDA regulates the activities of its members in terms of their capital adequacy and conduct of business. To qualify as a Member firm, Goodwood must meet stringent capital requirements, demonstrate an ability and willingness to conduct business in a manner consistent with the by-laws, rules and regulations of the Association, and be subject to ongoing supervision. Investment professionals at Goodwood are registered with IDA and respective securities commissions, and therefore fall subject to regulatory matters such as proficiency, record keeping and capital requirements.
For more information http://www.ida.ca
2. Goodwood is a member of the Alternative Investment Management Association (AIMA)
The Alternative Investment Management Association (AIMA) represents the global alternative investment community, working closely with regulators to promote and control the use of alternative investments. Goodwood Inc. is a proud founding member of AIMA Canada, supporting the objectives to increase investor education, transparency and promote due diligence and related best practices.
For more information http://www.aima-canada.org
3. Goodwood is a member of the Canadian Investor Protection Fund (CIPF)
Goodwood Inc. has been a member of the Canadian Investor Protection Fund (CIPF) since 1999. As an IDA member, the CIPF ensures, within defined limits, that your cash and securities are protected against the unlikely event of bankruptcy.
For more information http://www.cipf.ca
Transparency & Communication Standards
Goodwood believes that proper governance should be used as a primary method for communicating our investment philosophy and reporting our progression to investors. This transparent structure also acts to our own benefit, as we operate with the belief that informed investors become long term investors.
Full and detailed transparency is available to each Unitholder upon request. In addition to this we emphasize the importance of open and continuous investor communication. For this reason, on the first business day of each month we send out a report (via email) of the funds’ net asset value, detailed review of fund performance vs. underlying benchmark and quantitative statistics. Included is a monthly manager commentary that provides a snapshot of the portfolio and related events. Investors also receive account statements, semi-annual financial statements and an audited annual financial report.
Independent Third Party Organizations
Goodwood has engaged Citigroup Fund Services Canada, Inc.,
as an independent third party organization responsible for
daily administration, investor recordkeeping, fund valuation
and reporting. All assets for the Goodwood Fund and Goodwood
Capital Fund are held in custody at National Bank. Audits
conducted annually by KPMG, LLP and Feldman & Associates,
LLP are performed on the Goodwood Fund and Goodwood Capital
Fund respectively. Both KPMG and Feldman & Associates
have been auditing the Goodwood Funds since their inception.
In addition, Goodwood may be subject to other annual audits
from regulatory bodies such as the Ontario Securities Commission,
Investment Dealers Association and the Canadian Investor Protection
Fund.
Independent Advisor
Goodwood has commissioned an independent Advisor with extensive financial experience;
Robert Curl, Sol Madura S.A.
Since 1996 Robert Curl has been the President of Sol Madura S.A. From 1994 to 1996 Mr. Curl was the Senior Vice President, Financial Planning at T.E. Financial Services. From 1992 to 1994 he was the Chairman of Rhodes Financial Services. Prior to Rhodes Mr. Curl was the C.E.O. and major shareholder of Arcadian Financial Inc, for the period 1985 to 1992. Mr. Curl has held a number of executive level positions in a wide range of businesses and industries since 1969. Mr. Curl received a Master of Business Administration from the University of Western Ontario and is a Chartered Accountant.
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