Returns

Fund / Indices	Barrage Fund*	S&P / TSX The index includes dividends	S&P 500 The index includes dividends and is presented in canadian dollars
Performance	After fees	Total	Total
2013 (10 months)	28.48%	9.92%	28.08%
2014	24.38%	10.55%	23.81%
2015	0.79%	-8.37%	21.65%
2016	42.03%	21.17%	8.21%
2017	9.28%	9.02%	13.66%
2018	-6.06%	-8.85%	4.15%
2019	26.10%	22.64%	25.13%
2020 (July 31)	20.10%	-3.35%	5.76%
Cumulative return since inception	255.64%	58.93%	227.10%
Annualized return	18.66%	6.45%	17.33%

Term sheet

Name :

Barrage Fund

Minimum investment :

$150,000

Account types :

RRSP, TFSA, LIRA, RRIF, Non-Registered

Territories :

Quebec, Ontario, Alberta and British-Columbia

Subscription :

Monthly, no fees

Redemption :

Monthly, no fees, 30-day notice

Fund valuation :

Monthly, last working day

Net Asset Value (CAD) :

$254.91

Net Asset Value (USD) :

$190.30

Gross gain :

$18.75

Unrealized Gain :

$52.71

Base fee :

1% per annum

Incentive fee :

20% of returns in excess of 5% per year

Performance Threshold 2020 :

$220.75

Administrative fee :

None

Manager :

Barrage Capital Inc.

Trustee :

CIBC Mellon

Custodian :

CIBC Mellon

Administrator :

CIBC Mellon

Auditor :

KPMG

Legal counsel :

Fasken

Distribution 2013 :

$0 : 0%

Distribution 2014 :

$2.62 : 1.6%

Distribution 2015 :

$11.66 : 7.4%

Distribution 2016 :

$6.51 : 3.1%

Distribution 2017 :

$36.87 : 16.7%

Distribution 2018 :

$4.34 : 2.5%

Distribution 2019 :

$0 : 0%

*Disclaimer :

The above figures represent past returns that are not a guarantee of future returns. Investors must have a sufficient risk tolerance to invest in the Barrage Fund.

Term sheet

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