Returns as at April 30, 2013

*BMO Nesbitt Burns Cdn Small Cap Index

Growth of $10,000

Risk Measures as at April 30, 2013

Best/Worst 12 months (since inception)

Best (ending Mar 10):	90.11
Worst (ending Dec 08):	-48.38

Volatility meter (Based on 3 year standard deviation from GlobeInvestor.com)

Low  High

Fund Objectives

The Fund will invest in a diversified portfolio of small capitalization companies having a market capitalization of under $75 million at time of purchase. The Fund will focus on Canadian companies and could be highly volatile. It will also be capped at $50 million to protect against the fund growing too large.

Fund Facts

Globe 5-Star Rating:

RRSP Eligible:

Canadian

Min. Invest (initial):

$500

Subsequent:

$100

Min. Invest (initial RRSP):

$50

Subsequent RRSP:

$50

Closed:

No

Restricted:

No

Restriction:

 

 

Top Holdings as at March 31, 2013

Symbol	Company Name	Sector	Geographic Area	Asset Type	% of Total Assets		Performance as at May 24, 2013 1 Year Performance (%)
ETC-T	Equitable Group	Finance and Leasing	Canada	Stock	6.27		39.48
SO-T	Softchoice Corp.	Computer Software & Processing	Canada	Stock	4.59		75.48
CSS-T	Contrans Group	Transportation	Canada	Stock	4.47		24.61
IDG-T	Indigo Books & Music	Specialty Stores	Canada	Stock	3.6		21.78
CAM-T	Canam Group Inc	Metal Fabricators	Canada	Stock	3.59		97.52
EH-T	easyhome	Specialty Stores	Canada	Stock	3.57		49.23
ZCL-T	ZCL Composites	Misc. Industrial Products	Canada	Stock	3.53		33.6
GVC-T	Glacier Media	Publishing & Printing	Canada	Stock	3.49		-24.76
MB-T	MEGA Brands	Misc. Consumer Products	Canada	Stock	3.25		150.25

Distribution Report (18 months up to May 24, 2013)

Frequency of Income Distributions: Annually

Frequency of Capital Gain Distributions: Annually

Portfolio Manager(s)

Ralph Lindenblatt, CFA

Bissett Investment Management

Start Date: November, 2007

Fund Return: 11.34%

Ralph Lindenblatt, CFA, is a portfolio manager at Bissett Investment Management and has been with the organization since 2001. Mr. Lindenblatt shares co-lead responsibilities of the Bissett Small Cap Strategies, Bissett Microcap Strategies, including Bissett Small Cap Fund, Bissett Microcap Fund and Franklin Bissett Canadian All Cap Balanced Fund. Mr. Lindenblatt's analyst responsibilities include coverage of the Small Cap and Mid Cap sectors. Past duties have included sector research for Canadian equities and analytical support for Bissett's domestic small cap program. In 2006, Mr. Lindenblatt was named Co-Lead manager; in 2007, he was named Vice President and Lead Manager; and was promoted to his current role in 2010. Mr. Lindenblatt is a graduate of the University of Victoria (Bachelor of Science). Mr. Lindenblatt earned his Chartered Financial Analyst (CFA) Charterholder designation in 2001.

Also manages:Bissett Small Cap-F, DFS GIF Small Cap Bissett 3, Franklin Bis Cdn All Cap Balanced-A

View fund manager performance report

Richard J. Fortin, CFA

Bissett Investment Management

Start Date: September, 2010

Fund Return: 18.96%

Mr. Fortin joined Bissett Investment Management in 2009 as research analyst for Bissett Small Cap Fund and Bissett Microcap Fund. In October 2010, Mr. Fortin was promoted to Vice President and Co-Lead Manager of Bissett Small Cap Fund and Bissett Microcap Fund. Mr. Fortin brings over a decade of equity capital markets experience to Bissett. Prior to joining Bissett, Mr. Fortin spent four years working for a U.S.-based money manager in an equity research and portfolio management capacity. Previously, Mr. Fortin also worked for an Alberta based pension fund as a senior equity analyst for its Canadian equity mandate. Mr. Fortin is a graduate of the University of Ottawa (Hon. B. Comm., 1995) and holds the Chartered Financial AnalysŪ designation.

Also manages:Bissett Small Cap-F, DFS GIF Small Cap Bissett 3

View fund manager performance report