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LESTER CANADIAN EQUITY FUND

Founded on a Superior Track Record

We believe that Canadian equities will continue to be one of the best performing asset classes compared to another lost decade of poor returns from foreign markets.

Lester Canadian Equity Fund was launched so that accounts that cannot be managed effectively on a segregated basis due to their small size, may achieve proper equity diversification by owning units of our pooled fund. The Fund also allows institutions and clients of investment advisors, brokers and financial planners to invest in our portfolio strategy while maintaining their current relationships. Specifically, the Fund holds the same 40 to 50 stocks that are concurrently held in our segregated accounts and which have produced an annualized compound return of approximately 11.7 % per year (10.5% net of all fees) since July 2006, or more than double the 5.8% for the TSX Composite Total Return (see Monthly Canadian Equity Report).

Objectives: This fund seeks to maximize capital appreciation and achieve a superior long-term rate of return, primarily from investing in the common shares of publicly-traded Canadian-listed companies. The fund’s goal is to achieve higher than market returns with lower risk.

Strategy: Lester Canadian Equity Fund will invest in a diversified portfolio of Canadian small, mid and large capitalization equities, using a disciplined and long-term investment approach. Research is based on a thorough understanding of each company and the industry in which each operates, complemented by our macro-economic outlook. The Fund’s strategy is value-oriented seeking to purchase shares at a discount to a company’s true worth, as well as event-driven with the goal of maximizing shareholder value either through dividend increases, share buybacks, spin-offs or an outright sale.

Fees: The total management expense ratio (MER) for Class A units (non-trailer class) is approximately 1.5% per annum, comprised of management fees of 1.5% per annum plus minimal custodial and trading commission costs.

To invest in the Lester Canadian Equity Fund please contact us to open an account for you or ask your advisor to purchase units in our fund on FundServ under the symbol LAF100.