The ABC Funds offer pooled funds and Managed Accounts to accommodate our client’s investment needs. Pooled Funds: Open-End Funds: ABC Fully-Managed Fund ABC Fundamental-Value Fund ABC American-Value Fund We research, analyze and invest in publicly-traded companies which we believe offer good fundamentals, positive growth and free cash flow with potential value catalysts. More importantly, our investment philosophy also incorporates our Ten Commandments of Value Investing which we consider in our selection process. These commandments highlight such factors as quality of management, consistent earnings, undervalued assets or brands and dutiful corporate governance. Closed-End Funds: ABC North American Equity Fund ABC Global Equity Fund Our two ABC closed-end funds blend our open-end ABC Funds value philosophy with an all-capitalization, North American and global common stock search. Without the concerns of monthly client unit purchases or redemptions this simplifies our investment management process. These funds are very flexible, nimble and small enough to buy periodic, attractive common stock opportunities but large enough to benefit from economies of scale. Managed Accounts: I.A. Michael Investment Counsel Ltd. now offers our ABC Funds through Managed Accounts in addition to our Offering Memorandum. A Know Your Client form (KYC) will first be assessed at time of entry to see whether the ABC Funds are an appropriate fit for the client. Also, an Investment Policy Statement (IPS) will be confirmed which will reflect our portfolio and investment objectives. We will review with the client his/her risk tolerance, liquidity, unique circumstances, tax situation and any other relevant information. The client can choose to receive emailed commentaries and our quarterly ABC Funds Perspective newsletter. This communication will keep the client informed of our current portfolio holdings in addition to our investment team’s present economic outlook and investment strategy. All client assets are held in their own name at RBC Investor & Treasury Services. A yearly account assessment will be completed with the Portfolio Manager and the client through either a personal conference call or a direct meeting.