About Altamira / Legal

About Altamira

Mutual Fund Governance

Independent Review Committee
In February of 2005, Altamira established an Independent Review Committee (IRC) to review investments by Altamira funds in common shares of the National Bank of Canada (the "Bank"), as well as to review investments in particular securities, in compliance with orders issued by the Canadian securities regulatory authorities. Altamira is a wholly owned subsidiary of the Bank. The creation of this committee follows a decision made in 2004 by the Canadian securities regulatory authorities to permit investment by Altamira funds in common shares of the Bank subject to review by an independent committee.

The primary mandate of the IRC is to review, at least quarterly, the purchase, sale and continued holdings by Altamira funds of common shares of the Bank and ensure that they represent the business judgment of the portfolio manager, uninfluenced by considerations other than the best interests of the funds, that the decisions were made free from any influence of the Bank and without taking into account any consideration relevant to the Bank or its associates or affiliates. Natcan Investment Management Inc., the portfolio manager of the funds is majority owned by the Bank. The IRC is obligated to report any decisions that do not satisfy these requirements to the Canadian securities regulators.

The members of the committee are Jean Durivage, Yves Julien, André Godbout, Jacques Valotaire and Jean-François Bernier. All members of the IRC are independent and none is an employee, director, officer or associate of Altamira, the Bank, its subsidiaries, Natcan Investment Management Inc., or an associate or affiliate of any of them.

Members of the IRC receive a fee plus expenses for each meeting they attend. These fees will be allocated among the funds in a manner that is considered by the IRC to be fair and reasonable to the funds.

View the latest report.