Thornmark Dividend & Income Fund – Thornmark Asset Management Inc

Thornmark Dividend & Income FundBaustein2021-07-05T09:28:22-04:00

Thornmark
Dividend & Income
Fund

Thornmark
Enhanced Equity
Fund

Thornmark
Alpha
Fund

Thornmark Dividend & Income Fund

Investment Objective

The investment objective of the Thornmark Dividend & Income Fund is to provide long-term growth through capital appreciation and income by tactically allocating the Fund’s assets primarily to Canadian and U.S. equity investments, bonds and cash. The Fund may hold large cash positions, may use derivative strategies to augment income and/or hedge security, market, exchange rate and other risks. Investments may be made directly in individual securities and/or through other funds, including the Thornmark Investment Funds. The Fund may use leverage up to 15%.

Fund Performance*

From December 31, 1998 to June 30, 2021. “O” class net of fees and expenses.

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No sales, setup, transfer, or redemption fees.

When purchased directly from Thornmark. A 2% fee may be implemented in the first 90 days to discourage short-term trading.

Disclaimer

* Unless stated otherwise, all performance and benchmark data are total return, in Canadian dollars and net of all fees and expenses.

Thornmark manages the Thornmark Investment Funds (the "Investment Funds"). The Investment Funds are only available to “accredited investors” on a prospectus exempt basis in certain jurisdictions of Canada. The contents provided herein do not constitute an offer to buy or sell any securities.

Thornmark provides the consolidated returns of the Investment Funds (“Consolidated Performance”) to demonstrate the aggregated returns generated by the Investments Funds, or their predecessors, between 05/01/93 and the present. Units of each fund included in the Consolidated Performance are or were available for purchase by qualified investors. The returns provided for the Investment Funds are for O-class units. The Consolidated Performance is calculated by including an equal weighting of the Thornmark Investment Funds, or their predecessors, as follows: 100% Enhanced Equity Fund from 05/01/93 to 07/31/98; 50% Enhanced Equity Fund and 50% US Equity Fund to 12/31/98; 33.3% Enhanced Equity Fund, 33.3% US Equity Fund and 33.3% Dividend & Income Fund to 08/31/00; 25% Enhanced Equity Fund, 25% US Equity Fund, 25% Dividend & Income Fund and 25% Alpha Fund to 12/31/02; 50% Enhanced Equity Fund and 50% Dividend & Income Fund to 01/31/06; 33.3% Enhanced Equity Fund, 33.3% Dividend & Income Fund and 33.3% Alpha Fund to 12/31/06; 25% Enhanced Equity Fund, 25% Dividend & Income Fund, 25% Alpha Fund and 25% Fixed Income Fund from 12/31/06 to 07/31/2013; 16.67% Enhanced Equity Fund, 16.67% Dividend & Income Fund, 16.67% Alpha Fund, 16.67% Fixed Income Fund, 16.67% Canadian Equity Fund and 16.67% U.S. Equity Fund from 07/31/13 to 01/31/2017; 33.3% Enhanced Equity Fund, 33.3% Dividend & Income Fund, and 33.3% Alpha Fund from 01/31/2017 to present. Results prior to July 7, 1998 for the Thornmark Enhanced Equity Fund are for the Thornmark Canadian Equity Composite (the “Composite”). The Composite was an account managed by Thornmark Holdings Inc., whose portfolio was used to create the Thornmark Enhanced Equity Fund. Deloitte LLP, Chartered Accountants, have performed Level I and II verification on the composite, in accordance with the CFA Institute’s Performance Presentation Standards, for the period from inception ending December 31, 1998.

Investment performance benchmarks provide readers with a tool to assess the Consolidated Performance of the Investment Funds against an index of securities reasonably reflective of the composition of the investment portfolio of the Investment Funds. Since we present Consolidated Performance, we also provide a consolidated benchmark ("Consolidated Benchmark""). The Consolidated Benchmark is a pro-rated weighting of the benchmarks for each individual Investment Funds for the performance period. The benchmarks of each of the individual Investment Funds, and which make up the Consolidated Benchmark are as follows: Dividend & Income Fund - a blended benchmark composed of 30% S&P/TSX Composite TR Index, 30% S&P 500 TR Index (C$), 30% FTSE TMX Canada Universe Bond Index, 10% DEX 91-day T-bill Index. Enhanced Equity Fund - a blended benchmark composed of 60% S&P/TSX Composite TR Index, 30% S&P 500 TR Index (C$), 30%,10% DEX 91-day T-bill Index (from 05/01/1993 to 07/31/2013). Enhanced Equity Fund - a blended benchmark composed of 45% S&P/TSX Composite TR Index, 45% S&P 500 TR Index (C$), 30%,10% DEX 91-day T-bill Index (07/31/2013 to present). Alpha Fund - a blended benchmark composed of 45% S&P/TSX Composite TR Index, 45% S&P 500 TR Index (C$), 30%,10% DEX 91-day T-bill Index (07/31/2013 to present). Canadian Equity Fund - 100% S&P/TSX Composite TR Index. U.S. Equity Fund: 100% S&P 500 TR Index (C$). Fixed Income Fund - 100% FTSE TMX Canada Universe Bond Index. These benchmarks are used because they are relevant, meaning there is a significant degree of comparability and similarity between their strategy or composition and those of the relevant Investment Fund.

The information contained herein has been obtained from sources believed to be reliable and may contain forward looking information. Thornmark Asset Management Inc. and/or its employees and/or the Investment Funds may at any time have an interest in any securities discussed herein. Important information about the Investment Funds is contained in their Offering Memorandum, which is available upon request, and should be read before investing. Past performance may not be repeated, is not indicative of future returns, and does not guarantee future results. Unit values and investment returns will fluctuate. There are no assurances that the full amount of an investment in a fund will be returned to an investor. References to “Thornmark” are to Thornmark Asset Management Inc.