Aventine Asset Management Inc.

Performance History

Performance as of – September 30, 2017

Historical Trailing Investment Performance

3 MONTH6 MONTH1 YEAR2 YEAR*3 YEAR*INCEPTION*
2.8%4.0%13.4%15.7%10.5%9.9%

Calendar Year Investment Performance

YEARJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYTD
2014---1.6%2.2%1.4%-0.1%1.2%-3.2%-0.9%2.2%1.8%6.3%
2015-0.5%5.0%2.9%-0.8%2.8%-1.0%1.4%-5.3%-6.1%4.6%9.2%0.9%12.7%
2016-6.9%1.4%4.1%0.6%3.6%-4.8%4.8%0.3%-0.1%-0.8%2.7%1.6%5.9%
20172.0%2.1%1.2%1.2%-1.5%1.5%1.3%-0.9%2.5%---9.6%

"ACE Fund” is the Aventine Canadian Equity Fund, launched March 31, 2014. Performance shown is for the Master Series of F class units. Performance presented is total return, net of all fees and expenses. *Periods greater than one year are annualized.

Strategy Overview

Launched on March 31, 2014, the Aventine Canadian Equity Fund is co-managed by Jim Pottow and James Telfser.  Since inception the Fund has consistently been ranked by Morningstar and Globefund as one of the top performing funds in the Canadian equity category.

The below information is current as of September 30, 2017.

Performance Highlights

  • Annualized ROI of 9.9% since inception
  • Annualized Alpha versus TSX Index: 6.5%
  • Beta versus TSX Index: 0.69
  • Correlation versus TSX Index: 0.52
  • Annualized Volatility: 10.5%

Awards & Distinctions

  • Morningstar #1 – 2015 Return, Canadian Equity Fund Category
  • Morningstar #2 – 2 Yr Return, Canadian Equity Fund (at 3/31/16)
  • Morningstar #7 – 2 Yr Sharpe Ratio, Canadian Equity Fund (at 3/31/16)
  • Morningstar #2 – 2017 Return, Canadian Equity Fund Category

Performance as of – September 30, 2017

Historical Trailing Investment Performance

3 MONTH6 MONTH1 YEAR2 YEAR*3 YEAR*INCEPTION*
-0.1%0.0%6.0%6.5%3.8%8.4%

Calendar Year Investment Performance

YEARJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYTD
2009-0.6%0.1%1.3%6.5%1.8%2.1%1.5%0.3%-1.9%-0.5%0.9%4.7%17.0%
2010-0.4%2.3%0.5%0.2%-1.6%0.1%3.3%0.0%2.7%3.7%0.2%0.8%12.3%
20110.8%0.9%1.5%2.2%1.8%0.3%1.5%-1.7%-0.7%0.9%1.7%1.1%10.8%
20120.7%2.3%1.2%1.1%-1.3%-0.2%1.3%-0.1%1.2%0.0%-1.1%1.6%6.8%
20130.9%0.3%-0.7%-0.2%-1.4%-1.4%0.9%0.3%0.9%1.5%1.5%1.7%4.2%
20140.9%1.9%0.7%0.3%0.9%0.8%0.7%0.6%-0.8%0.5%0.1%-0.8%5.8%
20150.7%3.3%1.5%-0.6%0.9%-1.7%0.0%-2.8%-2.3%2.3%1.6%0.7%3.3%
2016-2.6%-1.5%1.3%0.2%2.9%-1.0%1.6%1.2%0.3%-0.4%2.0%1.8%5.8%
20170.2%0.7%1.7%0.2%-1.2%1.0%0.2%-1.5%1.3%2.5%

"Stable Income” refers to the Aventine Stable Income Strategy Composite from December 1, 2008 to December 31, 2016, and the Aventine Stable Income Fund from January 1, 2017 onward. Performance presented is total return, net of all fees and expenses. * Periods greater than one year are annualized.

Strategy Overview

The Aventine Stable Income Fund, launched on January 13, 2017, is the natural evolution of Aventine’s Stable Income strategy which has been run on a discretionary, managed account basis for Canadian investors since December 2008.  Andrew Shortreid has been the lead portfolio manager of the strategy since June 1, 2009 and continues to lead the Fund’s investment team.  Jim Pottow and James Telfser became co-managers of the strategy in 2016 and are also co-managers of the Fund.  Since inception, the multi-strategy Stable Income approach has consistently generated strong, low volatility absolute returns while providing investors with an attractive tax efficient income stream.

The below information, for the Aventine Stable Income Composite, is current as of September 30, 2017.

Performance Highlights

  • Annualized ROI of 8.4% Since Inception
  • No Negative Calendar Years Since Inception
  • Sharpe Ratio: 1.57
  • Best 12-Month Return: +19.9%
  • Worst 12-Month Return: -4.8%

IMPORTANT: THIS IS A LINKED TRACK RECORD THAT INCLUDES HISTORICAL COMPOSITE PERFORMANCE
The performance presented here for the Aventine Stable Income Fund (the “Fund”) prior to December 31, 2016 is the performance of a composite index comprised of all fee-paying discretionary portfolios managed by Aventine within our “income” strategic asset allocation range. The composite is an equally-weighted index of the underlying portfolios. The minimum asset level for portfolios to be included in the composite is $500,000. Performance is calculated monthly and presented net of all fees. The inception date for the Composite is December 1, 2008.  The inception date for the Fund is January 13, 2016.

Performance as of – September 30, 2017

Historical Trailing Investment Performance

3 MONTH6 MONTH1 YEAR2 YEAR*3 YEAR*INCEPTION*
2.1%2.8%10.4%8.3%6.1%8.3%

Calendar Year Investment Performance

YEARJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECYTD
2009-----2.7%5.3%-0.1%1.0%-0.5%2.6%2.5%14.2%
2010-1.0%2.1%2.6%1.6%-2.5%-2.5%3.0%-0.2%3.9%3.3%1.4%0.5%12.6%
20110.6%1.0%0.3%0.0%1.6%-0.2%-0.5%-0.8%-1.6%-1.5%0.1%0.0%-1.0%
20121.4%0.3%2.0%-0.2%-0.1%0.3%0.4%-0.2%-0.3%-0.7%-0.6%1.8%4.1%
20132.0%1.2%0.9%-0.8%0.3%-0.6%5.7%0.8%0.8%1.7%1.8%1.7%16.5%
20141.2%2.8%0.3%-0.3%0.0%1.7%0.3%1.5%-2.3%-0.4%0.4%-1.3%3.7%
20150.4%6.7%2.5%-0.7%3.3%-1.8%0.4%-4.1%-3.0%2.6%2.0%-1.0%7.2%
2016-3.5%0.1%1.2%1.0%1.5%-1.8%2.1%1.8%0.2%-0.8%2.5%2.3%6.5%
20170.9%0.8%1.5%0.2%-0.1%0.6%0.2%-0.6%2.6%---6.2%

“Total Wealth” is the Aventine Total Wealth Strategy Composite, launched June 1, 2009, Performance presented is total return, net of all fees and expenses. *Periods greater than one year are annualized.

Strategy Overview

Launched on June 1, 2009, the Aventine Total Wealth Strategy is managed by Andrew Shortreid. Since inception the Strategy has consistently outperformed both active and passive comparables while realizing low correlation and volatility relative to global equities. The Total Wealth Strategy targets returns of 8% per year or better with no peak-to-trough losses greater than 10%.

The below information is current as of September 30, 2017.

Performance Highlights

  • Annualized ROI of 8.3% Since June 1, 2009
  • Worst peak to trough loss of -8.3%
  • Beta versus Peer Index: 0.66
  • Annualized Alpha versus Peer Index: 3.9%
  • Annualized Sharpe Ratio: 1.18

IMPORTANT: THIS IS A COMPOSITE PERFORMANCE INDEX
The performance presented here for the Aventine Total Wealth Strategy is a composite index comprised of all fee-paying discretionary portfolios managed within our “growth and income” strategic asset allocation range. The composite is an equally-weighted index of the underlying portfolios. The minimum asset level for portfolios to be included in the composite is $1,000,000. Performance is calculated monthly and presented net of all fees. The inception date for this strategy is June 1, 2009.