Hedge Fund – Jemekk Capital Management

The Jemekk Hedge Fund seeks to provide long-term capital growth by investing primarily in Canadian and U.S. equities, and may focus its assets in specific industry sectors and asset classes based on analysis of business cycles, industry sectors and market outlook. The fund will seek growth through strategic selection and trading of long and short positions in equity, debt and derivative securities.

Jemekk Hedge Fund July 2023

Jemekk Hedge Fund Commentary Q1 2023

Fund Pricing (As at 05/31/2023)

Class F $19.8393

Last Month End
$20.5223

% Change
-3.33%

Class B $15.7025

Last Month End
$16.2582

% Change
-3.42%

Return Highlights

Compound Annualized Returns	8.04%
Average Monthly Return	0.76%
Cumulative Return Since Inception	531.58%
Total Positive/Negative Months	178/108

Statistical Analysis

Percentage of Months Beat Benchmark When Positive	43%
Percentage of Months Beat Benchmark When Negative	57%
Annual Standard Deviation	17.01%
Sharpe Ratio (0.5%)	0.51
Sortino Ratio (MAR=0%)	0.88

Fund Returns vs Benchmarks (%)

	1yr	3yr	5yr	10yr	^*CAGR
Jemekk Hedge Fund	12.84	0.00	3.14	1.14	8.16
S&P TSX	18.77	7.58	10.63	7.32	7.65

* CAGR (compound annual growth rate) is the annualized return rate since inception; all fund returns are net of fees.

FUND MANAGER

Gerard Ferguson

Portfolio Manager

Rick Ummat

Portfolio Manager

Fund Details

Fund Status

Open

Inception Date

August 18, 1999

Administrator

SGGG Fund Services Inc.

Auditors

Segal LLP

Counsel

Borden Ladner Gervais LLP

Currency

CAD

Fund Assets (CAD)

$18m

Management Fee

Performance Fee

20% of net profits (where annual rate of return >6% and year-end NAV higher than previous years)

For accredited investors, or minimum investment of $25,000; Canadian investors only.

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	YTD
2024	0.28	3.81	3.99	-1.82	3.94	-0.16	1.66	-0.39					11.68
2023	2.72	-4.02	2.61	2.05	-3.33	0.49	0.35	-0.51	-1.02	-0.05	1.89	0.24	1.16
2022	-5.61	3.40	3.72	0.61	0.01	-10.40	1.29	-1.00	-3.71	2.85	3.25	-2.18	-8.46
2021	-1.62	0.82	1.11	2.33	-0.72	4.18	0.66	0.71	-3.03	1.58	0.50	-2.32	4.04
2020	-0.28	-2.81	-10.92	6.91	2.22	3.97	4.58	3.33	-3.41	-2.22	3.50	1.16	4.82
2019	3.46	2.70	1.42	0.86	-1.08	0.32	1.76	-3.04	-2.30	-0.34	2.95	3.25	10.13
2018	0.33	-2.23	-1.56	0.85	0.35	-0.99	-0.12	1.21	0.04	-6.18	-2.31	-4.43	-14.29
2017	-1.59	0.70	2.42	-0.03	-1.55	-1.93	-1.27	-1.22	2.57	3.16	-0.68	1.57	1.99
2016	-6.43	-2.04	3.28	1.05	2.04	-0.67	3.18	1.90	1.79	0.96	0.34	0.35	5.47
2015	-0.89	5.12	0.29	0.34	2.36	-0.49	-0.09	-4.98	-2.32	2.36	2.16	-1.25	2.26
2014	2.46	4.76	1.10	1.46	1.32	3.03	-0.41	1.43	-1.37	-3.23	1.83	-1.57	11.08
2013	1.14	-0.66	-0.45	-0.32	2.98	-0.12	2.69	0.85	2.70	4.01	2.81	1.38	18.24
2012	4.84	4.41	-3.89	-0.99	-5.65	-1.91	0.11	1.97	3.19	0.42	-2.44	1.74	1.23
2011	3.99	1.02	-2.14	0.21	-3.03	-6.92	1.78	-9.85	-11.63	7.95	-4.40	-0.76	-22.79
2010	-1.57	3.24	3.88	-0.33	-5.74	-5.80	4.48	0.33	7.34	6.16	6.03	6.78	26.35
2009	0.04	1.38	4.33	4.26	12.70	0.17	2.67	2.78	6.82	-1.66	2.59	6.46	50.78
2008	-8.31	5.01	-7.26	4.97	7.32	5.18	-10.88	-2.38	-17.22	-14.66	-6.18	-1.14	-39.69
2007	1.12	3.99	1.27	2.90	1.17	0.00	1.88	-5.31	4.10	4.78	-6.77	1.89	10.80
2006	8.97	-2.40	4.02	2.77	-2.38	-2.57	1.73	0.49	-3.67	4.11	4.59	2.93	19.35
2005	0.42	9.20	-2.17	-8.09	0.92	2.46	4.40	0.99	3.39	-5.55	2.75	5.85	14.61
2004	7.66	1.33	1.77	-1.85	1.69	2.19	-2.22	-1.75	4.01	-0.13	3.99	3.82	22.01
2003	5.90	-1.47	-3.20	1.71	4.01	1.82	5.47	8.63	1.87	6.93	1.72	13.22	56.37
2002	1.61	1.15	0.50	-4.49	-0.89	-5.13	-12.61	-3.11	-3.65	3.70	6.28	12.39	-6.26
2001	6.03	-10.58	-1.25	2.19	3.84	-3.39	-4.00	-0.58	-8.22	-3.77	4.75	3.99	-11.87
2000	21.20	35.25	2.86	0.58	0.51	3.72	2.39	6.61	2.27	-2.55	-11.13	2.51	75.22
1999								2.16	1.51	-0.38	7.35	11.93	24.13

Year

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

YTD

2024

0.28

3.81

3.99

-1.82

3.94

-0.16

1.66

-0.39

11.68

2023

2.72

-4.02

2.61

2.05

-3.33

0.49

0.35

-0.51

-1.02

-0.05

1.89

0.24

1.16

2022

-5.61

3.40

3.72

0.61

0.01

-10.40

1.29

-1.00

-3.71

2.85

3.25

-2.18

-8.46

2021

-1.62

0.82

1.11

2.33

-0.72

4.18

0.66

0.71

-3.03

1.58

0.50

-2.32

4.04

2020

-0.28

-2.81

-10.92

6.91

2.22

3.97

4.58

3.33

-3.41

-2.22

3.50

1.16

4.82

2019

3.46

2.70

1.42

0.86

-1.08

0.32

1.76

-3.04

-2.30

-0.34

2.95

3.25

10.13

2018

0.33

-2.23

-1.56

0.85

0.35

-0.99

-0.12

1.21

0.04

-6.18

-2.31

-4.43

-14.29

2017

-1.59

0.70

2.42

-0.03

-1.55

-1.93

-1.27

-1.22

2.57

3.16

-0.68

1.57

1.99

2016

-6.43

-2.04

3.28

1.05

2.04

-0.67

3.18

1.90

1.79

0.96

0.34

0.35

5.47

2015

-0.89

5.12

0.29

0.34

2.36

-0.49

-0.09

-4.98

-2.32

2.36

2.16

-1.25

2.26

2014

2.46

4.76

1.10

1.46

1.32

3.03

-0.41

1.43

-1.37

-3.23

1.83

-1.57

11.08

2013

1.14

-0.66

-0.45

-0.32

2.98

-0.12

2.69

0.85

2.70

4.01

2.81

1.38

18.24

2012

4.84

4.41

-3.89

-0.99

-5.65

-1.91

0.11

1.97

3.19

0.42

-2.44

1.74

1.23

2011

3.99

1.02

-2.14

0.21

-3.03

-6.92

1.78

-9.85

-11.63

7.95

-4.40

-0.76

-22.79

2010

-1.57

3.24

3.88

-0.33

-5.74

-5.80

4.48

0.33

7.34

6.16

6.03

6.78

26.35

2009

0.04

1.38

4.33

4.26

12.70

0.17

2.67

2.78

6.82

-1.66

2.59

6.46

50.78

2008

-8.31

5.01

-7.26

4.97

7.32

5.18

-10.88

-2.38

-17.22

-14.66

-6.18

-1.14

-39.69

2007

1.12

3.99

1.27

2.90

1.17

0.00

1.88

-5.31

4.10

4.78

-6.77

1.89

10.80

2006

8.97

-2.40

4.02

2.77

-2.38

-2.57

1.73

0.49

-3.67

4.11

4.59

2.93

19.35

2005

0.42

9.20

-2.17

-8.09

0.92

2.46

4.40

0.99

3.39

-5.55

2.75

5.85

14.61

2004

7.66

1.33

1.77

-1.85

1.69

2.19

-2.22

-1.75

4.01

-0.13

3.99

3.82

22.01

2003

5.90

-1.47

-3.20

1.71

4.01

1.82

5.47

8.63

1.87

6.93

1.72

13.22

56.37

2002

1.61

1.15

0.50

-4.49

-0.89

-5.13

-12.61

-3.11

-3.65

3.70

6.28

12.39

-6.26

2001

6.03

-10.58

-1.25

2.19

3.84

-3.39

-4.00

-0.58

-8.22

-3.77

4.75

3.99

-11.87

2000

21.20

35.25

2.86

0.58

0.51

3.72

2.39

6.61

2.27

-2.55

-11.13

2.51

75.22

1999

2.16

1.51

-0.38

7.35

11.93

24.13

Jemekk Hedge Fund July 2023

Jemekk Hedge Fund Commentary Q1 2023

Fund Pricing (As at 05/31/2023)

Class F $19.8393 Last Month End $20.5223 % Change -3.33%

Last Month End

% Change

Class B $15.7025 Last Month End $16.2582 % Change -3.42%

Last Month End

% Change

Return Highlights

Statistical Analysis

Fund Returns vs Benchmarks (%)

FUND MANAGER

Gerard Ferguson

Rick Ummat

Fund Status

Inception Date

Administrator

Auditors

Counsel

Currency

Fund Assets (CAD)

Management Fee

Performance Fee

Monthly Performance (%, net of fees, F Class)

FUND MANAGER

Gerard Ferguson

Rick Ummat

Fund Status

Inception Date

Administrator

Auditors

Counsel

Currency

Fund Assets (CAD)

Management Fee

Performance Fee

Class F $19.8393

Last Month End
$20.5223

% Change
-3.33%

Class B $15.7025

Last Month End
$16.2582

% Change
-3.42%