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

Select Shares US Fund
PERFORMANCE SUMMARY AND HISTORY
YEARS 1 3 5 10 Inception (May/2007)
Select Shares US 25.3 14.4 10.2 2.5
Benchmark
Inflation
32.6
1.3
19.7
1.5
18.0
1.6
5.4
1.6
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.
Select Shares US Fund Benchmark Infation
HEMISPHERE CAPITAL MANAGEMENT
PERFORMANCE SUMMARY

Period Ending March 2014 - Annualized Returns (%) Net of Fees
The Select Shares US Fund invests primarily in the common shares and ADRs (American Depository Receipts) of
high quality, larger capitalization companies that are listed on US and foreign exchanges. The Fund is managed
through a quantitative, value-based investment approach.
Benchmark:
100% S&P 500 Total Return Index $Cdn
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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
SELECT SHARES US FUND PAGE 2
PERFORMANCE HISTORY
Year JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
*Investment returns for May 2007 correspond to the period May 11, 2007 to May 31, 2007.
Benchmark:
100% S&P 500 Total Return Index $Cdn
2007 SS US -2.0% -1.0% -2.5% 0.4% -5.4% -3.6% 1.0% -4.4%
Benchmark -1.9% -2.3% -2.9% 0.6% -2.2% -3.1% 0.9% -1.9%
2008 SS US -1.7% -5.4% 5.1% 1.2% 0.2% -8.5% 2.8% 5.7% -7.1% 1.7% -1.2% 1.4%
Benchmark -4.7% -5.4% 4.4% 3.0% -0.2% -6.2% -0.1% 5.1% -9.1% -4.5% -5.6% 0.0%
2009 SS US -6.3% -4.1% 3.7% 3.0% -4.8% 5.9% -3.5% 4.1% -0.2% -0.2% 1.7% 0.3%
Benchmark -7.5% -8.2% 7.9% 3.8% -3.1% 6.3% -0.2% 5.3% 1.4% -1.4% 4.0% 0.9%
2010 SS US -0.3% 0.6% 1.1% 2.7% -2.2% -3.0% -1.0% 1.1% 1.0% 0.5% 1.2% -0.5%
Benchmark -1.9% 1.9% 2.3% 1.2% -4.8% -3.9% 3.8% -1.3% 5.4% 2.7% 0.8% 3.4%
2011 SS US 1.0% -1.3% 1.6% 0.7% 1.8% -1.6% -3.1% 0.1% 0.4% 2.7% 1.8% 0.1%
Benchmark 3.1% 0.5% -0.2% 0.5% 1.0% -2.1% -3.1% -3.0% -1.3% 6.1% 2.4% 0.8%
2012 SS US 1.4% 2.0% 0.9% -1.8% -0.5% 1.6% -1.1% -0.8% 1.2% 0.5% 0.0% 1.1%
Benchmark 3.3% 2.4% 4.6% -1.7% -1.6% 2.5% -0.4% 0.7% 2.3% -0.3% -0.1% 1.1%
2013 SS US 4.3% 3.7% 2.7% 1.7% 2.6% 1.2% -0.1% 0.8% -0.3% 4.4% 3.2% 2.4%
Benchmark 5.6% 4.3% 2.5% 1.1% 5.1% 0.3% 2.8% -0.4% 0.5% 6.1% 4.7% 2.9%
2014 SS US 2.6% 1.9% 2.5%
Benchmark 0.9% 4.2% 0.6%