GLOBAL INVESTING

IS IT TIME TO RELOCATE SOME OF YOUR PORTFOLIO?

Name Title Company DATE

AGENDA

1. THE BACKYARD BIAS

2. HAVING A GLOBAL PERSPECTIVE

3. GLOBAL GROWTH OPPORTUNITIES

THE BACKYARD BIAS

CANADIANS HAVE A BACKYARD BIAS

CANADIANS HAVE THE MAJORITY OF THEIR ASSETS INVESTED IN CANADA

Outside Canada
38%

Canada
62%

Source: IFIC mutual fund assets, as of June 30, 2011. Includes Equity, Balanced and Fixed Income Mutual Fund Assets.

YOU CANT BLAME THEM

CANADA HAS OUTPERFORMED THE WORLD MARKET OVER THE PAST 10 YEARS
200 180 160 140 120 100 80 60 40 20 0 Jan00

Canada

World

Oct00

Jul01

Apr02

Jan03

Oct03

Jul04

Apr05

Jan06

Oct06

Jul07

Apr08

Jan09

Oct09

Jul10

Apr11

Source: Morningstar, Canada as represented by the S&P/TSX Total Return Index, World as represented by MSCI World Index in Canadian Dollars. January 3rd, 200 to December 1, 2011. The chart above is for illustrative purposes only.

CANADAS STRONG PERFORMANCE

CONCENTRATION IN 3 SECTORS HAS HELPED PERFORMANCE OVER THE PAST 10 YEARS

Utilities Telecom. Services Information Technology Health Care Consumer Staples Consumer Discretionary Industrials Financials Materials Energy
-20% -10% 0% 10% 20% 30% 40%

3 SECTORS: 78% of Canadian market

Source: Morningstar, as of November 30th, 2011.

CANADAS STRONG PERFORMANCE

RISE IN DOLLAR HAS MIRRORED RISE IN MARKET
1.2 16000

14000 1

Canadian Dollar
0.8

12000

10000

0.6

8000

S&P/TSX
0.4

6000

4000 0.2 2000

0 12/31/2001 12/12/2002 11/27/2003 11/10/2004 10/26/2005 10/31/2006 10/26/2007 10/10/2008

0 9/25/2009 9/10/2010 8/25/2011

Source: Yahoo Finance. Bank of Canada December 31, 2001 to December 23, 2011

PEFORMANCE FACTORS CHANGE

CANADIAN CONCENTRATION IN 3 SECTORS HAS HURT PERFORMANCE. YTD: -6.9%
Utilities Telecom. Services Information Technology
4 SECTORS: 9% of Canadian market 43% of U.S. market Positive performance YTD

YTD: +1%

Health Care
Consumer Staples Consumer Discretionary Industrials

Financials
Materials Energy -60% -40% -20% 0%

3 SECTORS: 78% of Canadian market Negative performance YTD

20% 40%

-60%

-40%

-20%

0%

20%

40%

Sector Weight
Source: Morningstar, as of November 23rd, 2011.

Sector Performance

PEFORMANCE FACTORS CHANGE

CANADIAN DOLLAR HAS STABILIZED
1.2

1.0

0.8

0.6

0.4

0.2

0.0 Jan- Feb- Mar- Apr- May- Jun- Jul- Sep- Oct- Nov- Dec- Jan- Feb- Mar- May- Jun- Jul- Aug- Sep- Oct- Nov10 10 10 10 10 10 10 10 10 10 10 11 11 11 11 11 11 11 11 11 11
Source: Bank of Canada as of January 4th, 2010 to December 1st, 2011.

LONG TERM TREND

HISTORICALLY CANADIAN OUTPEFORMANCE LED TO LONGER LARGER GLOBAL OUTPERFORMANCE
15%

CANADA OUTPERFORMS
10% 5% 0% -5% -10% -15%

WORLD OUTPERFORMS
-20% 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Difference between S&P/TSX Total Return Index and MSCI World Index ($Cdn) rolling 5 year periods, as of November 30, 2011 Source: Morningstar, S&P/TSX Total Return Index and MSCI World Index ($Cdn). The S&P / TSX Total Return Index and MSCI World Index is unmanaged and unavailable for direct investment. Assumes reinvestment of capital gains and dividends and no taxes. Index past performance is not indicative of future results. For illustrative purposes only.

HAVING A GLOBAL PERSPECTIVE

TALE OF TWO WORLDS

WORLD BASED ON GEOGRAPHIC SIZE

WORLD BASED ON ECONOMIC SIZE

Source: As of 2008, CIA Factbook for GDP data. Economic size based on GDP Growth Rate. Natural Earth website for shapefiles of the world.

CANADAS SMALL GLOBAL FOOTPRINT

SMALL PERCENTAGE OF THE WORLDS LARGEST AND MOST RECOGNIZABLE COMPANIES BASED ON THE FORTUNE GLOBAL 500 LIST ARE IN CANADA CANADA 2%

REST OF THE WORLD

Source: Fortune Global 500, 2011.

SMALL GLOBAL FOOTPRINT

6 LARGEST COMPANIES IN THE WORLD ARE LARGER THAN THE ENTIRE CANADIAN MARKET
MARKET CAPITALIZATION IN 000S
$1,800,000 $1,600,000 $1,400,000

$1,200,000
$1,000,000 $800,000 $600,000 $400,000 $200,000 $0 6 Largest Companies
Source: Morningstar, Financial Times Global 500. Canadas market cap as of Nov 30, 2011. Companies market caps are as of Oct 31, 2011.

Canada

GLOBAL GROWTH OPPORTUNITIES

IMPORTANCE OF GLOBAL DIVERSIFICATION

THE BEST PERFORMING COUNTRIES CHANGE FROM YEAR TO YEAR
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Source: Paltrack, Dynamic Funds. All Indices are represented in Canadian dollars Mexico BMV IPC. U.S. S&P 500 Total Return. England FTSE 100 Total Return. Canada S&P/TSX Total Return. Germany FSE DAX Total Return. Brazil BOVESPA. France - Euronext Paris CAC 40 PR. Japan Nikkei 225 Average PR. Hong Kong Hang Seng Hong Kong Composite.

CPP HAS GONE GLOBAL

CANADIAN PENSION PLAN INVESTS THE MAJORITY OF THEIR EQUITY PORTFOLIO OUTSIDE OF CANADA
Emerging Markets

Canadian Equities

Foreign Developed Markets

Source: Canadian Pension Plan Annual Report, as of March 31, 2011.

U.S. CORPORATE REVENUE IS DIVERSIFIED

U.S. COMPANIES EARN A SIGNIFICANT AMOUNT OF REVENUE OUTSIDE THE U.S.

Outside U.S.

In the U.S.

Source: RBC Economics, % of revenue of S&P 500 Companies.

AND GROWING
U.S. CORPORATE PROFITS
2,000

1,500

In billions

1,000

500

0 2007q1 2007q3 2008q1 2008q3 2009q1 2009q3 2010q1 2010q3 2011q1 2011q3

Source: U.S. Department of Commerce, Bureau of Economic Analysis.

HOWEVER U.S. STOCKS REMAIN CHEAP

PRICE TO EARNINGS LEVELS OF THE S&P 500
30

25

20

15

10

0 1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Source: Morningstar, November 30th 1999 to October 31st 2011.

OPPORTUNITY IN EMERGING MARKETS

THE RISE OF THE DOMESTIC CONSUMER
NUMBER OF HOUSEHOLDS IN CHINA WITH DISPOSABLE INCOME ABOVE $10,000 U.S.
MILLIONS

250 200 150 100 50 0 2010 2020

Source: Euromonitor International Top 10 largest economies in 2020 July 7, 2010

OPPORTUNITY IN EMERGING MARKETS

INDIA AND CHINA PURCHASED 70% MORE PASSENGER VEHICLES THAN THE U.S. IN 2010
MILLIONS

25 20 15 10 5 0 U.S.
Source: Time Mag. Your Next Job: Made in India or China March 17, 2011

India and China

OPPORTUNITY IN EMERGING MARKETS

CHINA WILL BUILD ENOUGH SKYSCRAPERS TO FILL 10 NEW YORK-SIZED CITIES BY 2025

Sources: McKinsey & Co. report "Preparing for China's urban billion" March 2009

EMERGING MARKETS SET TO DRIVE ECONOMIC GROWTH

2012 FORECASTED GDP GROWTH
9

0 World Advanced Economies Brazil, Russia, India, China

Source: Goldman Sachs Global ECS Research, Dec. 2010

YOURE ALREADY A GLOBAL INVESTOR

Kitchen
Electrolux Frigidaire Whirlpool Maytag Kitchenaid Jenn-Air Bosch Siemens Miele

Computers
Lenovo HP Apple Dell

Wireless Phone
Iphone Blackberry Samsung Nokia

Entertainment
Samsung Panasonic LG Sony Sharp Bose Yamaha Toshiba

Automobile
GM Chrysler Ford BMW

Acer
Gateway eMachines

HTC
Motorola

Mercedes
Nissan Toyota

Honda
Mazda Hyundai/Kia Volkswagen Mitsubishi

Fiat
Volvo

IMPORTANT INFORMATION
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in units value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any funds managed by Goodman & Company, Investment Counsel Ltd. These views are not to be considered as investment advice nor should they be considered a recommendation to buy or sell. This document is not to be distributed or reproduced without the consent of Goodman & Company, Investment Counsel. Dynamic Funds is a division of Goodman & Company, Investment Counsel Ltd.