Goodwood Capital Funds

The Goodwood Capital Fund (the “Fund”) investment objective is to achieve capital appreciation by investing primarily in equity securities of North American companies over a broad range of industry sectors which the Portfolio Manager believes to have superior growth potential. In making investment decisions on behalf of the Fund, the Portfolio Manager utilizes a “bottom-up” approach involving intensive analysis of the individual company and associated industry conditions. The Portfolio Manager focuses on companies and industries that it believes, as a result of such analysis, can deliver superior risk-adjusted returns, rather than focus on the general direction of the overall market. Purchased directly through Goodwood or through Investment Advisors, the Prospectus sold, RSP eligible Fund provides investors with exposure to a unique and value-add investment strategy that cannot be replicated by passive or quantitative vehicles. The Fund focuses on undervalued small-to-mid capitalized businesses that: 1. have secular growth opportunities or ability to grow market share in a fragmented industry, 2. identify small to mid-cap companies trading at a material discount to larger-cap peers, 3. generate strong ROIC & excess free cash flow allowing for growth, debt repayment, and dividends/buybacks, 4. are run by strong management teams.