Close

GIPS Disclosures

Bristol Gate US Equity Strategy

The Investment Advisor’s objective is to select companies with positive dividend growth and which collectively will generate over the long term a growing income and capital appreciation for investors.

To determine the selection of stocks the Investment Advisor firstly analyzes each company’s past and potential future dividend payments with its proprietary statistical methodology. Secondly, it examines the companies’ sources and uses of cash to determine sustainable profit and dividend growth. Valuation and risk management metrics are applied which generate a focused portfolio with above average dividend growth, without above market valuations. The Investment Advisor does not attempt to match securities selection to any index. Turnover and trading are strictly limited.

Bristol Gate Capital Partners Inc. claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Bristol Gate Capital Partners Inc. has been independently verified for the periods May 2009 until December 2015 by Ashland Partners International PLLC and from January 1, 2016 –December 31, 2020by ACA Group, Performance Services Division. A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm’s policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis.

The Bristol Gate US Equity Strategy Composite has had a performance examination for the periods May 15, 2009until December 31, 2020. The verification and performance examination reports are available upon request. The Advisor maintains a complete list and description of composites and they are available upon request. The firm’s list of pooled fund descriptions for limited distribution pooled funds is available upon request. Policies for valuing investments, calculating performance, and preparing GIPS Reports are available upon request.

The US Dollar is the currency used to measure performance, which is presented on a gross basis and includes the reinvestment of investment income. There is the opportunity for the use of leverage up to 30% of the net asset value of the underlying investments using a margin account at the prime broker. Thus far no material leverage has been utilized. The composite’s return is gross of withholding tax. An investor’s actual returns may be reduced by management fees, performance fees, and other operating expenses that may be incurred because of the management of the composite. The annual management fee is charged on accounts managed by Bristol Gate up to a maximum of 1% of assets depending on account size and other factors and is charged either daily or monthly in arrears. A performance fee may also be charged on some accounts and funds managed by the firm.

The Bristol Gate US Equity Strategy Composite was created and incepted on May 15, 2009. GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

Bristol Gate Canadian Equity Strategy

The Investment Advisor’s objective is to select companies from the S&P/TSX universe with positive dividend growth and which collectively will generate over the long term a growing income and capital appreciation for investors.

To determine the selection of stocks the Investment Advisor firstly analyzes each company’s past and potential future dividend payments with its proprietary analytical methodology. Secondly, it examines the companies’ sources and uses of cash to determine sustainable profit and dividend growth. Valuation and risk management metrics are applied which generate a focused portfolio with above average dividend growth, without above market valuations. The Investment Advisor does not attempt to match securities selection to any index. Turnover and trading are strictly limited.

Bristol Gate Capital Partners Inc. claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Bristol Gate Capital Partners Inc. has been independently verified for the periods May 2009 until December 2015 by Ashland Partners International PLLC and from January 1, 2016 –December 31, 2020by ACA Group, Performance Services Division. A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm’s policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis.

The Bristol Gate Canadian Equity Strategy Composite has had a performance examination for the periods July 1, 2013to December 31, 2020. The verification and performance examination reports are available upon request. The Advisor maintains a complete list and description of composites and they are available upon request. The firm’s list of pooled fund descriptions for limited distribution pooled funds is available upon request. Policies for valuing investments, calculating performance, and preparing GIPS Reports are available upon request.

There is the opportunity for the use of leverage up to 30% of the net asset value of the underlying investments using a margin account. Thus far no material leverage has been utilized. The composite’s return is gross of withholding tax. An investor’s actual returns may be reduced by management fees, performance fees, and other operating expenses that may be incurred because of the management of the composite. The annual management fee is charged on accounts managed by Bristol Gate up to a maximum of 1% of assets depending on account size and other factors and is charged either daily or monthly in arrears. A performance fee may also be charged on some accounts and funds managed by the firm.

The Bristol Gate Canadian Equity Strategy Composite was created & incepted on July 1, 2013.

GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.

NEWS AND INSIGHTS

Annual Letter to Investors – 2021

Dividend Growth Summary Note: LTM Dividend Growth is the median of the actual trailing 12-month dividend growth of the individual stocks held by Strategies or [...]

Sustainable Dividend Growth and the Case of Algonquin Power

Though inflation and rising rates have dominated the headlines this year, it was not that long ago that investors were scrambling for income through a [...]

Bristol Gate Capital Partners Inc. Announces Estimated Annual Reinvested Distributions for Bristol Gate ETFs

For Immediate Release TORONTO, November 23, 2022 /CNW/ – Bristol Gate Capital Partners Inc. (“Bristol Gate Capital Partners” or the “firm”) today announced the estimated [...]

Report to Investors 3rd Quarter 2022

Performance Summary During the quarter, both the US and Canadian Equity Strategies continued to outpace their respective benchmarks in terms of dividend growth. From a [...]

LET’S STAY IN TOUCH

Learn about News, Events and how we are using Data Science to eliminate human bias.