Our Firm I.A. Michael Investment Counsel Limited, established in 1985, is dedicated to managing the ABC Funds. The firm’s objective is performance excellence. We concentrate on securities which we deem to be relatively undervalued and do not necessarily invest in every industry nor in what may be currently in vogue. Instead, we invest in companies which we believe will offer significant growth, free cash flow and potential value catalysts. The ABC Funds were started in February 1988 with the inception of its first fund – the ABC Fully-Managed Fund (FMF). Less than a year later, in March 1989, came the inception of the ABC Fundamental-Value Fund (FVF). Then in May 1996, we launched the ABC American Value Fund (AVF), to provide U.S. diversification. We remain fully committed to our clients as well as our analytical and portfolio responsibilities. Our management team endeavors to give 100% of our abilities toward our common goal of investment excellence. Portfolio Manager Irwin A. Michael earned his Bachelor of Commerce Degree from McGill University. He was later awarded his MBA from the Wharton School of Finance, University of Pennsylvania, and acquired his Chartered Financial Analyst designation several years later. Upon graduation from Wharton, Irwin Michael started his career at Hodgson Roberton Laing & Company, in the capacity of fixed-income portfolio manager and bond trader. He then went on to Morgan Stanley Canada Limited, primarily in the areas of fixed-income research and institutional sales. Prior to forming his own investment counsel firm, Irwin Michael was a partner at Beutel Goodman & Co., where he served as vice-president of fixed income investments and portfolio manager of The Dynamic Income Fund. He has also served as a director of The Toronto Society of Financial Analysts and is a former vice president of the Toronto Futures Exchange. Irwin A. Michael and his firm, I.A. Michael Investment Counsel Limited have managed the ABC Funds since 1988 when the first fund was launched. Until June 1994, the firm also managed over $75 million of segregated mutual funds and pension accounts. However, at that time the firm made a key decision to focus all of its efforts on the ABC Funds, and therefore resigned all non ABC portfolios and ceased to offer segregated investment management. Consequently, the only way for investors to receive our highly focused investment counseling service is through investment in the ABC funds. Irwin A. Michael, President I.A. Michael Investment Counsel Ltd.
