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Title: Bissett Dividend Income Fund


1
Bissett Dividend Income Fund
2
Reinvested Dividends Have Provided Greater
Returns Over time, total returns from
dividend-paying stocks have been greater than
those of non-payers
320,404
70 of returns were from dividends
94,583
Source Morningstar Research Inc., as of June 30,
2012. Includes dividend payouts, dividend growth
and any increase in price. 10,000 initial
investment on January 1, 1973. The SP/TSX
Composite Total Return Index includes reinvested
dividends and capital gains.
3
Favourable Tax Treatment of Dividends Dividend
Income is Worth More Than Interest Income
After Tax Proceeds of 100
Source Taxtips 2012 Ontario. Assumes 2012
Ontario marginal tax rates Interest 46.41
Eligible Dividends 29.54.
4
Potential Offset To Inflation Actual Dividends
Paid Have Increased Beyond Inflation Over Time
Total Growth vs. Inflation Total Growth
Total Growth 283
Total Increase 26
SP/TSX Composite 12 Months Dividend Per Share
Headline CPI
Source Bloomberg, as of June 30, 2012. Headline
Consumer Price Index is not adjusted for
seasonality which includes food and energy prices.
5
The Impact of Dividends on Performance
  10 Years 5 Years 3 Years 1 Year
SP/TSX Composite Total Return Index 7.6 -0.7 6.7 -10.3
SP/TSX Dividend Payers 8.5 0.0 7.2 -7.7
SP/TSX Increasing Dividends 8.7 -0.6 7.7 -7.2
SP/TSX Non-Dividend Payers 2.8 -7.0 0.1 -31.7
Historically, Dividend Payers and Increasing
Dividends have outperformed Non-Dividend Payers,
but this has been less consistent in more recent
periods
Annualized. Source RBC. Weighted compound
average annual total returns as of June 30, 2012.
6
Franklin Resources, Inc.Investment Platform
Overview
Franklin Templeton offers a full range of
investment capabilities from a broad breadth of
investment management platforms
FRANKLIN TEMPLETON INVESTMENTSTotal Combined
Assets Under Management (AUM) CA719.9 Billion
Institutional AUM CA153.9 BillionSingle
Business Development, Relationship Management,
and Consultant Relations Platform
EQUITY
FIXED INCOME
SPECIALISED STRATEGIES
Franklin Equity Group Templeton Emerging Markets Group Templeton Global Equity Group Mutual Series Franklin TempletonFixed Income Group Franklin TempletonLocal Asset Management Franklin Templeton Real Estate Advisors Darby Franklin Templeton Multi-Asset Strategies Bissett Investment Management
Established 1947 1987 1940 1949 1970 1993 1984 1994 1982 1982
Focus U.S. Equity Global Equity International Equity Emerging Markets Equity Global Equity International Equity Global Equity International Equity U.S. Equity Distressed Debt Merger Arbitrage Global Fixed Income Regional Fixed Income Emerging Market Debt Global Equityand Fixed Income Regional Equity and Fixed Income Single-Country Equity and Fixed Income Global Private Real Estate Global Real Estate Securities Global Private Real Assets Emerging Markets Private Equity Mezzanine Finance Infrastructure Multi-Asset Fund-of-Funds Strategies Global Tactical Asset Allocation Canadian Equity Fixed Income Balanced SMA Programs
Style Growth, Value, Core/Hybrid Core Value Core Value Deep Value Single Sector, Multi-Sector Multi-Sector, Single- or Multi-Region Multi-Sector, Multi-Region Multi-Sector Multi-Style GARP, High Quality, Duration Neutral
AUM CA140.1 Billion CA46.5 Billion CA94.9 Billion CA57.7 Billion CA323.7 Billion CA24.8 Billion CA4.2Billion CA1.7 Billion CA29.6 Billion CA13.6 Billion
  • Source Franklin Templeton Investments (FTI), as
    of 06.30.12, unless otherwise noted. Assets under
    management (AUM) combines the U.S. and non-U.S.
    AUM of the investment management subsidiaries of
    the parent company, Franklin Resources, Inc.
    NYSE BEN, a global investment organisation
    operating as Franklin Templeton Investments. AUM
    includes discretionary and advisory accounts,
    including pooled investment vehicles, separate
    accounts and other vehicles, as well as some
    accounts that may not be eligible for inclusion
    in composites as defined by the firms policies.
    Numbers may not equal 100 due to rounding. AUM
    may also include advisory accounts with or
    without trading authority. In addition, the Firm
    may provide asset allocation advisory services,
    and if the assets are not allocated to FTI
    products, then the assets are not included in
    AUM. Numbers may not equal 100 due to rounding.
    Please note that the table above does not include
    all affiliates under FTI.
  • Franklin Templeton Multi-Asset Strategies (FTMAS)
    AUM as of 06.30.12. FTMAS invests in various
    Franklin Templeton and external investment
    platforms AUM for FTMAS is reported under each
    utilized investment platform, as well as for
    FTMAS.
  • Each local asset manager may be considered as an
    entity affiliated with or associated to Franklin
    Templeton Investments by virtue of being
    wholly-owned subsidiaries, or other entities or
    joint ventures in which Franklin Resources, Inc.,
    owns a partial interest, which may be a minority
    interest. Local asset management AUM includes AUM
    for Franklin Templeton Investments (ME) Limited
    and Balanced Equity Management Pty. Limited.
    Franklin Templeton Investments (ME) Limited and
    Balanced Equity Management Pty. Limited are both
    indirect wholly-owned subsidiaries of Franklin
    Resources, Inc.
  • Bissett Investment Management is not registered
    with securities regulators. It falls under the
    registration held by Franklin Templeton
    Investment Corp. Bissett Investment Management is
    an operating division of Franklin Templeton
    Investments Corp.
  • For firms claiming compliance with the Global
    Investment Performance Standards (GIPS), figures
    for the assets under management above may not
    correspond to the assets under management as
    defined by GIPS. For GIPS purposes, Franklin
    Equity Group and Franklin Templeton Fixed Income
    Group are both units of the firm Franklin
    Templeton Emerging Markets Group and Templeton
    Global Equity Group are both units of the firm
    Templeton.

7
Bissett 30 Years of Canadian Experience and
Expertise
  • Founded in 1982 and joined Franklin Templeton
    Investments in 2000
  • Bissett AUM as of June 30, 2012 (CAD) 13.6
    Billion
  • Focus on Canadian capital markets
  • Mandates include fundamental equity, quantitative
    equity, fixed income and balanced strategies
  • Fundamental equity strategies include large/mid
    cap, dividend, high dividend, small cap, and
    microcap
  • Bissetts goal superior investment performance
    and controlled, profitable growth across
    investment strategies
  • Bissett remains an independent investment manager
    within the Franklin Templeton organization

8
Organizational Chart
John Lusk EVP, Investment Management Franklin
Resources, Inc.
Don Reed President CEO Franklin Templeton
Investments - Canada
Christopher Molumphy EVP/CIO, Fixed Income
Investments Franklin Resources, Inc.
Garey Aitken Chief Investment Officer Bissett
Investment Management
Thomas OGorman SVP/Director Fixed Income Bissett
Investment Management
Ralph Lindenblatt SVP/Portfolio Manager Small /
Microcap
Les Stelmach VP/Portfolio Manager High Dividend
Richard Fortin VP/Portfolio Manager Small/
Microcap
Tim Caulfield VP/Director Equity Research
Juliette John SVP/Portfolio Manager Dividend
SMA Programs
Ryan Crowther VP/Portfolio Manager Dividend SMA
Programs
Darcy Briggs VP/Portfolio Manager
Jeff Johnson VP/Portfolio Manager
Brian Calder Bond Trader
Heather McOuatt VP/Portfolio Manager
Leslie Lundquist SVP/Portfolio Manager High
Dividend
Jason Hornett VP/Portfolio Manager Quant.
Programs
Andrew Buntain VP/Institutional Portfolio
Manager
Chris Lankester Investment Operations Analyst
Izabel Flis Research Analyst
Farahana Jobanputra Director Investment
Administration
Sevrika Fisher Trading Assistant
Shelly Wilson Executive Assistant
Jayson Moss Research Analyst
Mitchell McCartney Portfolio Assistant
Celine Baumgarten Admin Clerk
Bissett is supported by Franklin Templetons
Global Business Units
Portfolio Analysis and Investment Risk Global Portfolio Corporate Services Global Investment Management Services Global Investment Risk Management Global Equity Trading Global Compliance Global Investor Advice Compliance
As of February 7, 2012
9
Bissett Dividend Income Fund
10
Investment Style and Process
GROWTH AT A REASONABLE PRICE INVESTMENT STYLE GROWTH AT A REASONABLE PRICE INVESTMENT STYLE
Invest in high quality equities and income securities to participate in their long-term capital appreciation and dividend growth Invest in high quality equities and income securities to participate in their long-term capital appreciation and dividend growth
Business/Security Attributes - Equities Portfolio Construction
Proven operational track record Higher than benchmark dividend yield Consistent dividend policy Earnings consistency High profitability Financial stability Reasonable valuation Bias toward common equities for growth Invests in Canadian and U.S. dividend-paying common and preferred equities Invests in Canadian and foreign fixed income Overweight credit product Diversified portfolio of investment grade issues Duration shorter than the DEX Universe
Objective Objective
To provide consistent total returns and below market volatility over a full business cycle To provide consistent total returns and below market volatility over a full business cycle
11
Investment Style and Process
  • A low-volatility approach to equity and fixed
    income investing
  • Conservative investors seeking
  • Capital appreciation
  • Attractive portfolio yield
  • Tax-advantaged income
  • Each equity must pay a moderate but consistent
    dividend
  • Emphasis is placed on a growing dividend stream
    over time
  • Fixed income holdings consist primarily of
    investment grade corporate debentures
  • Objective is to generate higher yield than
    government issues
  • Preferred share exposure enhances income and
    reduces overall portfolio volatility
  • Security selection
  • Growth-oriented issuers that meet our investment
    criteria are targeted
  • Objective is to identify securities trading at
    attractive spreads relative to benchmark and
    government issues
  • Limited to investment grade credits credit
    quality of P3 or higher

12
Investment Style and Process
  • Portfolio Construction
  • Invest in at least 6 of 10 SP/TSX sectors
  • Set target weights, not target prices, for
    individual securities
  • Risk Management
  • Rebalance to target weights
  • Enforce style discipline at total Portfolio
    level
  • Sell Discipline
  • Deterioration in fundamentals
  • Excessive valuations

13
Absolute, Relative and Risk-Adjusted Return
Objectives
  • Return Objectives
  • Absolute return objective Target long-term
    absolute returns that compensate for the related
    risks
  • Relative return objective Target excess returns
    relative to the benchmark
  • Risk Objectives
  • Primary risk objective To ensure that the
    absolute return objective is achieved
  • Secondary risk objective To maintain less return
    volatility than the benchmark
  • Risk-Adjusted Return Objective
  • Target a below market beta and positive alpha

14
Risk Management
RISK MANAGEMENT Our approach to risk management
aligns with our objective to deliver both strong
long-term absolute and risk-adjusted returns
  • INVESTMENT SECURITY SELECTION
  • Invest where expected return potential exceeds
    our estimate of the associated cost of equity
  • Return potential assessed based on long term
    fundamentals, valuation analysis and
    consideration of inherently uncertain future
    fundamentals
  • Focus on high quality businesses with appropriate
    capital structures and long term dividend
    stability
  • PORTFOLIO CONSTRUCTION
  • Target portfolio diversification on an inter and
    intra sector basis
  • Recognize correlations among holdings
  • Individual weights strike a balance between
    minimizing non-systematic risk and allowing for
    our best ideas to have a meaningful impact
  • Variability of security weights in the portfolio
    is generally less than in the benchmark
  • PORTFOLIO RISK EVALUATION
  • Risks are continually reviewed to confirm that
    exposures are UNDERSTOOD and consistent with our
    INTENT and CONVICTIONS
  • Portfolio Risk Evaluation is supported by
    Franklin Templeton Investments independent
    Global Investment Performance Services, Portfolio
    Analysis and Investment Risk Group

15
Bissett EquitiesInvestment Style and Process
  • Sector exposure is an outcome of our bottom up
    security selection process
  • Sector over and under weightings reflect the
    availability of securities which meet our
    investment characteristics within each sector
  • Due to our disciplined style significant sector
    over and under weightings occur
  • Consequently, the Fund exhibits significant
    benchmark risk
  • However, absolute return volatility is reduced
    due to our focus on businesses with more moderate
    revenue/cash flow/earnings volatility

16
Fixed Income Investment Style and Process
  • Generate above average yield-to-maturity and
    stable income
  • Overweight corporate issues
  • Rigorous macro research and analysis
  • Invest at inflection point of yield curve
  • Manage investment risk through
  • Laddered maturity schedule
  • Diversify corporate holdings investment grade
    credits only
  • Thorough credit analysis

17
Asset MixAs of June 30, 2012
18
Canadian Equity Sector ExposureAs of June 30,
2012
BDIF SP/TSX Composite Difference BPS
Financials 30.1 32.1 -200
Energy 25.4 24.7 70
Telecommunication Services 12.6 5.3 730
Consumer Discretionary 8.7 4.6 410
Industrials 10.0 5.9 410
Information Technology 0.1 1.1 -100
Consumer Staples 3.4 3.1 30
Utilities 7.7 2.0 570
Materials 2.1 20.0 -1,790
Health Care 0.0 1.6 -160
Total 100 100
Source Franklin Templeton Investments,
Bloomberg. Bissett Dividend Income Fund, of
Canadian equities.
19
Top 10 Canadian Equity HoldingsAs of June 30,
2012
SP/TSX Composite Index SP/TSX Composite Index
35 equities owned BDIF Weight Rank
Enbridge 5.3 2.3 10
TELUS (non-voting shares) 5.2 1.4 17
Royal Bank of Canada 4.4 5.4 1
TransCanada 4.3 2.2 12
Canadian Imperial Bank of Commerce 4.2 2.1 14
BCE 4.1 2.3 9
Toronto Dominion Bank 4.1 5.2 2
Calian Technologies 4.1 0.0 -
Bank of Nova Scotia 4.1 4.3 3
Power Financial 4.0 0.4 57
Concentration 43.8 24.2
Source Franklin Templeton Investments,
Bloomberg. Bissett Dividend Income Fund, of
Canadian equities. Weight refers to TELUS
Corporation.
20
Portfolio Characteristics - Canadian Equity As of
June 30, 2012
Investment Characteristics BDIF SP/TSX Composite
Profitability Trailing Return on Equity Trailing Reinvestment Rate Trailing Dividend Payout Ratio 17.0 561 bps 65.1 15.3 762 bps 41.6
Growth 5 Year Historical Earnings per Share Growth 5 Year Historical Dividend Growth 0.5 4.0 4.4 7.9
Consistency Earnings Variability 9.1 11.4
Valuation Trailing Price to Earnings Ratio Price to Book Value Current Dividend Yield 13.9x 2.2x 4.8 13.6x 1.8x 3.2
Other Debt/Equity Beta Weighted Average Market Capitalization 0.521 67 of the index 20.9 Billion 0.451 25.6 Billion
Source CPMS. Bissett Dividend Income Fund,
Canadian equity component.
21
U.S. and Foreign Equity Sector Exposure As of
June 30, 2012
BDIF SP 500 Difference BPS
Consumer Staples 41.0 11.2 2,980
Health Care 17.3 12.0 530
Energy 15.9 10.8 510
Consumer Discretionary 12.4 11.0 140
Industrials 7.7 10.5 -280
Information Technology 4.5 19.7 -1,520
Utilities 1.0 3.7 -270
Financials 0.2 14.3 -1,410
Materials 0.0 3.4 -340
Telecommunication Services 0.0 3.2 -320
Total 100 100
Source Franklin Templeton Investments,
Bloomberg. Bissett Dividend Income Fund, of
U.S. and Foreign equities.
22
Top 10 U.S. and Foreign Equity HoldingsAs of
June 30, 2012
SP 500 SP 500
20 equities owned BDIF Weight Rank
Diageo 8.8 0.0 -
Philip Morris International 8.4 1.2 13
Chevron 8.1 1.7 7
Abbott Laboratories 7.7 0.8 23
Johnson Johnson 7.6 1.5 8
General Mills 7.6 0.2 112
Genuine Parts 6.3 0.1 297
Altria Group 6.3 0.6 37
McDonald's 6.2 0.7 26
3M 6.1 0.5 41
Concentration 73.1 7.3
Source Franklin Templeton Investments,
Bloomberg. Bissett Dividend Income Fund, of
U.S. and Foreign equities.
23
Portfolio Characteristics U.S. and Foreign
Equity As of June 30, 2012
Investment Characteristics BDIF SP 500
Profitability Trailing Return on Equity Trailing Reinvestment Rate Trailing Dividend Payout Ratio 27.8 1,454 bps 41.9 22.2 1,143 bps 27.3
Growth 5 Year Historical Earnings per Share Growth 5 Year Historical Dividend Growth 4.9 6.0 7.8 7.7
Consistency Earnings Variability 10.1 21.5
Valuation Trailing Price to Earnings Ratio Price to Book Value Current Dividend Yield 13.3x 3.3x 3.4 13.8x 2.2x 2.3
Other Debt/Equity Beta Weighted Average Market Capitalization 0.851 64 of the index 117.2 Billion 0.711 110.4 Billion
Source CPMS.Bissett Dividend Income Fund, of
combined U.S. and Foreign equities.
24
Performance Attribution12-Month Period Ended
June 30, 2012
  • The Fund returned 3.6, compared to the Funds
    custom benchmark, which returned -2.5 for the
    12-month period
  • Contributors
  • Canadian equities posted positive returns in
    comparison to sharp declines in the benchmark
    index
  • Security selection and higher than benchmark
    exposure to the Telecommunications Services
    sector led to positive contribution
  • Security selection in Industrials (Bird
    Construction, Russel Metals) added value and
    outweighed the lack of exposure to railway
    equities which were also strong during the period
  • Security selection in the Energy sector (Mullen
    Group and Enbridge) contributed to performance
    during the period
  • Low exposure to the Materials sector which was
    weak due to volatile commodity prices and poor
    stock performance
  • U.S. equities outperformed the benchmark
    however, contribution was partly offset as
    portfolio allocation was lower than the SP 500
    in the blended benchmark
  • Detractors
  • Overweight and poor security selection in the
    domestic Consumer Discretionary sector
  • Thomson Reuters, Reitmans (Canada) posted
    disappointing results
  • Fixed Income was a slight drag on total portfolio
    performance notwithstanding decent absolute
    returns
  • Overweight spread product and shorter than
    benchmark duration were negative factors

Series A. 15 DEX Universe Bond Index, 5 BMO
Nesbitt Burns Preferred Share Index, 60 SP/TSX
Composite Total Return Index, 20 SP 500 Total
Return Index (CDN). Please note benchmark has
been modified since inception.
25
Performance History (Net of Fees)As of June 30,
2012, Series A
3 Month 1 Year 2 Year 3 Year 4 Year 5 Year 10 Year SI
Bissett Dividend Income Fund -1.4 3.6 9.9 10.2 4.9 2.0 5.1 5.4
Custom Benchmark -3.2 -2.5 7.1 8.1 1.8 1.6 5.8 8.0
Difference 1.8 6.1 2.8 2.1 3.1 0.4 -0.7 2.6
2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
Bissett Dividend Income Fund 5.2 11.6 18.7 -20.0 -3.1 10.3 12.7 9.4 10.7 -0.9
Custom Benchmark -2.6 14.0 24.9 -22.7 2.9 13.1 13.4 9.2 15.4 -9.8
Difference 7.8 -2.4 -6.2 2.7 -6.0 -2.8 -0.7 0.2 -4.7 8.9
Source FTI, Bloomberg. Annualized.
Inception Date November 30, 2000. 15 DEX
Universe Bond Index, 5 BMO Nesbitt Burns
Preferred Share Index, 60 SP/TSX Composite
Total Return Index, 20 SP 500 Total Return
Index (CDN). Please note benchmark has been
modified since inception.
26
Investment Outlook
  • Canadian equity benchmarks are now lagging their
    U.S. counterparts after more than a decade of
    outperformance due to the greater resources
    exposure in our benchmark
  • Evidence of slower economic growth as well as
    continued volatility in capital markets may limit
    the potential for further valuation expansion
  • Defensive investments may be positioned for
    decent relative performance if the current
    environment persists
  • Corporate earnings have been supported by
    aggressive cost cutting but opportunities to
    reduce expenses are declining revenues have not
    recovered sufficiently to maintain the pace of
    earnings growth in the absence of more expense
    reduction
  • Investors should expect a period of more modest
    capital appreciation more meaningful
    contribution to total return from dividends than
    from capital gains is likely in the near term
  • We expect that our defensive GARP investment
    style with an emphasis on yield should continue
    to deliver attractive returns with low volatility
    over the long-term

27
Equity Investment Expertise
Fundamental Research Approach
Bissett Canadian Dividend Fund2
Bissett Canadian Equity Fund4
Bissett Dividend Income Fund3
Bissett Canadian High Dividend Fund1
Bissett Microcap Fund
Bissett Small Cap Fund
Quantitative Research Approach
Bissett All Canadian Focus Fund
Bissett U.S. Focus Fund
Sector Fund
Bissett Energy Corporate Class
Bissett Dividend Income Fund3
?
1. Bissett Income Funds new name, as of
06.24.2011 the Fund is an all cap, high-yield
equity solution with a target yield of 2.5 times
the benchmark yield. 2. The target yield of
Bissett Canadian Dividend Fund is 1.5 times the
benchmark yield. 3. Bissett Dividend Income Fund
is an 80/20 equity/bond solution. 4. Bissett
Canadian Equity Fund has a target yield similar
to the benchmark yield.
28
Appendix
29
Co-Lead Manager
Juliette L. John, CFA Senior Vice President,
Portfolio Manager Bissett Investment
Management Juliette John is a senior vice
president, portfolio manager of Bissett
Investment Management and has been with the firm
since 1994. Ms. John co-manages the Bissett
Dividend Income Fund (1998), Bissett Canadian
Dividend Fund (since inception), the Bissett
Canadian Dividend Program (1998) and the
Separately Managed Account program that spans
mandates from Large Cap Canadian equities to
Dividend and Balanced mandates (1996). She is
also a member of the Equity Research Team with
research responsibility for the Canadian
commercial banks. Past duties have included
portfolio management for institutions (1998),
Canadian equity research for various sectors
(1995) and equity trading (1994). Prior to
joining Bissett, Ms. John was employed with the
securities brokerage division of a Canadian
chartered bank. Ms. John holds a bachelor's
degree in commerce from the University of Calgary
and earned her Chartered Financial Analyst (CFA)
Charterholder designation in 1998.
30
Co-Lead Manager
Ryan Crowther, CFA Vice President, Portfolio
Manager Bissett Investment Management Ryan
Crowther is a vice president and portfolio
manager at Bissett Investment Management. Mr.
Crowther shares co-lead manager responsibilities
of the Bissett Canadian Dividend Fund (2011),
Bissett Dividend Income Fund (2011) and the
separately managed account (SMA) platform, as
well as equity research coverage of the materials
sector. Ryan joined Bissett in 2008 as an equity
analyst and was appointed to his current role in
June 2011. His past duties have included equity
research coverage of a number of sectors at
Bissett, including materials, energy
infrastructure, utilities and retail. Prior to
joining Bissett, Mr. Crowther was a research
associate and analyst at Salman Partners from
2002 to 2007, with coverage of companies in the
industrials and materials sectors, among
others. From 1999 to 2002, Mr. Crowther played a
business development role in a Vancouver-based
Internet Services Provider, and was a founding
partner of a domain registration company. Mr.
Crowther holds a bachelor of commerce degree from
the University of British Columbia. He is a
Chartered Financial Analyst (CFA) Charterholder.
31
Enbridge (TSXENB)
  • Strong free cash flow generation over time
  • Visible runway for earnings growth for years to
    come
  • Consistent dividend increases over extensive time
    frame
  • Industry leader with strong competitive position
  • Impressive operational track record
  • Disciplined capital allocation
  • Strong balance sheet

32
Enbridge (TSXENB) As of June 30, 2012
All numbers in Canadian Dollars. Daily pricing of
ENB is from January 1, 2006 to June 30,
2012. Source Bloomberg.
33
Bird Construction (TSXBDT)
  • A general contractor engaged in domestic
    commercial, industrial and institutional projects
  • Impressive long term track record of
    profitability and growth
  • Dividend-friendly policy, generally having paid
    out more than half of its free cash flow
    historically
  • Strong balance sheet profile (significant cash
    position) provides investors with downside
    protection in the event of a significant decline
    in business activity or margins
  • Recent acquisition of H.J. O'Connell diversifies
    Birds profile and should prove meaningfully
    accretive to cash flow over the coming year

34
Bird Construction (TSXBDT) As of June 30, 2012
All numbers in Canadian Dollars. Daily pricing of
BDT is from February 24, 2006 to June 30,
2012. Source Bloomberg.
35
Bissett Equity Group Years of Experience and
Responsibilities
Name Industry Since Firm Since Responsibilities
Garey Aitken, CFA, MBA Chief Investment Officer 1993 February, 1998 Chief Investment Officer Portfolio Management Canadian Equity Program
Tim Caulfield, CFA VP, Director Equity Research 1999 January, 2007 Portfolio Management Canadian Equity Program Research Diversified Financials and Insurance, Information Technology
Juliette John, CFA SVP, Portfolio Management 1994 May, 1994 Portfolio Management Dividend Separately Managed Account Program Research Commercial Banks
Ryan Crowther, CFA VP, Portfolio Management 2002 February, 2008 Portfolio Management Dividend Separately Managed Account Program Research Materials
Leslie Lundquist, CFA SVP, Portfolio Management 1992 May, 1992 Portfolio Management High Dividend Equity
Les Stelmach, CFA VP, Portfolio Management 2000 January, 2006 Portfolio Management High Dividend Equity Research Energy, Real Estate
Ralph Lindenblatt, CFA SVP, Portfolio Management 1998 January, 2001 Portfolio Management Small/ Micro Cap Equity Research Small/ Mid Cap across all sectors
Richard Fortin, CFA VP, Portfolio Management 1996 January, 2009 Portfolio Management Small/ Micro Cap Equity Research Small/ Mid Cap across all sectors
Jason Hornett, CFA VP, Portfolio Management 1997 November, 1997 Portfolio Management Quantitative Strategies
Andrew Buntain, CFA VP, Institutional Portfolio Manager 1995 May, 2007 Communication of BIM process, philosophy and strategies to internal and external constituencies
Izabel Flis Research Analyst 2001 January, 2001 Research Pipelines and Infrastructure, Retailing, Cable, Broadcasting, Consumer Staples, Telecommunication Services, Utilities
Jayson Moss, CFA Research Analyst 2004 November, 2011 Research Consumer Discretionary, Industrials, Health Care
CFA and Chartered Financial Analyst are
registered trademarks owned by CFA Institute
36
Bissett Equity Group Years of Experience and
Responsibilities
Name Industry Since Firm Since Responsibilities
Chris Lankester Investment Operations Analyst 2000 November, 2000 Investment Operations
Mitchell McCartney Portfolio Assistant 2011 May, 2011 Investment Operations
Farahana Jobanputra, MBA Director, Investment Administration 2008 January, 2008 Investment Operations Administration
Shelly Wilson Executive Assistant 2000 February, 2000 Support Portfolio Management Team
Celine Baumgarten Admin. Clerk 2008 October, 2008 Administrative Duties
37
Sector Research CoverageCanadian Equity,
Dividend and High Dividend Programs
Sector Sub-Group Analyst Coverage
Energy Les Stelmach
Pipelines, Infrastructure Izabel Flis
Materials Ryan Crowther
Industrials Jayson Moss
Consumer Discretionary Jayson Moss
Retailing, Cable, Broadcasting Izabel Flis
Consumer Staples Izabel Flis
Health Care Jayson Moss
Financials Commercial Banks Juliette John
Diversified Financials Insurance Tim Caulfield
Real Estate Les Stelmach
Information Technology Tim Caulfield
Telecommunication Services Izabel Flis
Utilities Izabel Flis
38
Bissett Fixed Income Group Years of Experience
and Responsibilities
Name Industry Start Date Firm Start Date Responsibilities
Thomas OGorman, MBA, CFASVP, Director of Fixed Income 1990 June 2010 Director of Fixed IncomePortfolio ManagerStrategy Development ImplementationEconomic and Credit Analysis
Heather McOuatt, CFAVP, Portfolio Manager 1995 December 1997 Portfolio ManagerStrategy Development Implementation Credit and Sector Analysis
Darcy Briggs, CFA, CGA, FRMVP, Portfolio Manager 1994 January 2005 Portfolio ManagerStrategy Development ImplementationEconomic and Credit Analysis
Jeffrey Johnson, CFA, FRM, MBAVP, Portfolio Manager, Money Market Trader 1997 May 2005 Portfolio Manager / TraderCash Management Corporate Paper Analysis
Brian Calder, CFPBond Trader 2000 August 2001 Bond TraderBond Market AnalysisProvincial Reviews
Sevrika FisherFixed Income Trading Assistant 2007 October 2010 Fixed Income Trading Assistant
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Thank YouQuestion Period
The indicated rates of return are historical
annual compounded total returns including changes
in unit or share value and reinvestment of all
distributions and dividends and do not take into
account sales, redemption, distribution or
optional charges or income taxes payable by any
security holder that would have reduced returns.
The information presented herein is considered
reliable at the present time, however, we do not
represent that it is accurate or complete, or
that it should be relied upon as such.
Speculation or stated beliefs about future
events, such as market and economic conditions,
company or security performance, upcoming product
offerings or other projections represent the
beliefs of the speaker and do not necessarily
represent the views of Franklin Templeton
Investments Corp. General business, market,
economic and political conditions could cause
actual results to differ materially from what the
speaker presently anticipates or projects.
Commissions, trailing commissions, management
fees and expenses all may be associated with
mutual fund investments.  Please read the
prospectus before investing. Mutual funds are not
guaranteed, their values change frequently and
past performance may not be repeated.
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