HEMISPHERE CAPITAL MANAGEMENT

Core Balanced Composite

PERFORMANCE SUMMARY AND HISTORY

The Core Balanced Composite is comprised of consolidated client portfolios of Hemisphere Capital Management with
an equity asset mix weight between 40% and 80%. These client portfolios contain some international equities.

PERFORMANCE SUMMARY
Period Ending March 2013 - Annualized Returns (%) Gross of Fees
YEARS

10

Inception (Jun/1994)

Core Balanced Composite

4.7

8.0

7.2

7.9

8.7

Benchmark

8.0

7.2

4.7

8.2

8.2

TSX Total Return

6.1

4.9

2.1

10.0

8.6

Inflation

1.4

1.7

1.7

1.7

1.8

500
450
400
350
300
250
200
150
100
50
0

Mar 13

Dec 11

Sep 10

Inflation

Jun 09

Mar 08

Dec 06

Benchmark

Sep 05

Jun 04

Mar 03

Dec 01

Sep 00

Jun 99

Mar 98

Dec 96

Sep 95

Jun 94

Core Balanced Composite

TSX Total

Benchmark:
40% DEX Mid-term Bond Index
40% S&P/TSX Total Return Index
10% S&P 500 Total Return Index $Cdn
10% EAFE Total Return Index $Cdn
Disclaimer: This document is not intended to be comprehensive investment advice applicable to the individual circumstances of a potential investor and should not be
considered as personal investment advice, an offer, or solicitation to buy and/or sell investment products. Every effort has been made to ensure accurate information has been
provided at the time of publication, however accuracy cannot be guaranteed. Values change frequently and past investment performance may not be repeated. The manager
accepts no responsibility for individual investment decisions arising from the use or reliance on the information contained herein. Please consult an investment manager prior
to making any investment decisions.

SUITE 603 734-7TH AVENUE SW CALGARY, ALBERTA T2P 3P8

PH: 403-205-3533 TF: 800-471-7853 F: 403-205-3588 INFO@HEMISPHERE.CA

PAGE 2

CORE BALANCED COMPOSITE

PERFORMANCE HISTORY

3Q

4Q

YTD

# of
Port

2.6%

2.0%

4.6%

Net Fee

2.5%

1.8%

4.3%

Net Fee

Benchmark

5.6%

-0.2%

5.3%

Benchmark

1Q

Year

2Q

1994 Gross Fee

1995 Gross Fee

Net Fee
Benchmark

1996 Gross Fee

Net Fee
Benchmark

1997 Gross Fee

Net Fee
Benchmark

4.5%

5.6%

3.1%

1.8%

15.8%

4.2%

5.3%

2.9%

1.5%

14.6%

4.7%

5.1%

2.3%

5.4%

18.6%

3.6%

2.3%

8.7%

10.5%

27.2%

3.3%

2.0%

8.4%

10.2%

25.8%

3.0%

2.3%

4.5%

7.8%

18.9%

-2.2%

3.1%

9.8%

-3.4%

7.0%

-2.4%

2.8%

9.5%

-3.7%

5.9%

13

Year
2006 Gross Fee

2007 Gross Fee

1Q

2Q

3Q

4Q

YTD

# of
Port

3.8%

-2.1%

3.1%

2.8%

7.8%

51

3.5%

-2.3%

2.8%

2.6%

6.7%

4.4%

-2.7%

3.7%

7.1%

12.8%

0.1%

1.2%

0.1%

0.7%

2.2%

Net Fee

-0.1%

1.0%

-0.2%

0.5%

1.2%

Benchmark

1.7%

1.4%

0.7%

-0.2%

3.6%

2008 Gross Fee

-0.2%

3.9%

-6.0%

-6.2%

-8.6%

Net Fee

-0.4%

3.6%

-6.2%

-6.5%

-9.5%

Benchmark

-0.7%

2.6%

-9.8%

-8.9%

-16.2%

2009 Gross Fee

1.6%

7.2%

5.0%

3.9%

18.9%

Net Fee

1.4%

6.9%

4.8%

3.7%

17.8%

Benchmark

-1.7%

10.9%

7.3%

1.8%

19.0%

Gross Fee

3.0%

0.3%

5.7%

5.1%

14.7%

Net Fee

2.8%

0.0%

5.4%

4.9%

13.7%

0.2%

8.8%

6.5%

-1.1%

14.8%

5.1%

1.6%

-8.8%

3.0%

0.4%

Net Fee

4.8%

1.4%

-9.0%

2.8%

-0.6%

Benchmark

9.1%

0.8%

-9.9%

11.4%

10.4%

1.4%

4.1%

0.2%

-0.3%

5.5%

Net Fee

1.2%

3.8%

-0.1%

-0.5%

4.4%

Benchmark

1.5%

2.7%

-0.4%

10.8%

15.0%

4.5%

6.2%

4.1%

1.4%

17.1%

Net Fee

4.2%

5.9%

3.8%

1.1%

15.8%

Benchmark

6.6%

3.7%

1.2%

-5.3%

6.0%

2.8%

2.4%

-2.8%

5.6%

8.0%

Net Fee

2.5%

2.1%

-3.0%

5.3%

6.8%

Net Fee

3.7%

Benchmark

-6.7%

0.1%

-4.5%

7.7%

-3.9%

Benchmark

4.0%

3.8%

-2.9%

-1.3%

3.6%

3.1%

Net Fee

3.4%

-3.1%

-1.6%

3.3%

1.9%

Benchmark

0.7%

-4.4%

-6.3%

5.4%

-4.8%

1998 Gross Fee

1999 Gross Fee

2000 Gross Fee

2001 Gross Fee

2002 Gross Fee

2003 Gross Fee

-1.9%

5.5%

2.6%

6.0%

12.6%

Net Fee

-2.1%

5.2%

2.3%

5.7%

11.4%

Benchmark

-4.1%

8.1%

4.2%

6.7%

15.3%

2004 Gross Fee

3.9%

-1.7%

2.2%

3.1%

7.6%

Net Fee

3.7%

-1.9%

1.9%

2.8%

6.5%

Benchmark

4.3%

-0.3%

0.7%

5.6%

10.5%

2005 Gross Fee

1.2%

4.8%

4.0%

1.4%

11.7%

Net Fee

0.9%

4.6%

3.7%

1.1%

10.6%

Benchmark

2.0%

3.6%

4.9%

1.9%

13.0%

14

2010

Benchmark

18

2011 Gross Fee

Net Fee
Benchmark

19

2012 Gross Fee

Net Fee
Benchmark

18

2013 Gross Fee

1.9%

-2.6%

7.7%

4.4%

11.6%

2.7%

0.2%

-1.3%

3.7%

5.3%

2.6%

0.0%

-1.5%

3.4%

4.5%

2.6%

-0.9%

-4.4%

3.3%

0.4%

2.7%

-3.3%

3.5%

0.7%

3.5%

2.5%

-3.5%

3.3%

0.5%

2.6%

3.7%

-1.7%

4.0%

1.6%

7.6%

3.9%

53

52

55

58

80

87

88

20

Benchmark:
37

40% DEX Mid-term Bond Index

40% S&P/TSX Total Return Index
10% S&P 500 Total Return Index $Cdn
10% EAFE Total Return Index $Cdn

43

48

SUITE 603 734-7TH AVENUE SW CALGARY, ALBERTA T2P 3P8

PH: 403-205-3533 TF: 800-471-7853 F: 403-205-3588 INFO@HEMISPHERE.CA