Independent Review Committee (IRC)

In 2006, the Canadian Securities Administrators enacted legislation requiring every mutual fund to establish an independent review committee (IRC) to address conflicts of interest that can arise between the manager and unitholders of the fund. The mandate of the Bridgehouse IRC is to review all conflict of interest matters referred to it by Bridgehouse, and consider whether Bridgehouse’s proposed actions achieve a fair and reasonable result for the Bridgehouse Funds. Bridgehouse refers for approval or recommendation all situations where a reasonable person could consider Bridgehouse to have an interest that could conflict with the interests of any Bridgehouse Fund.

IRC Members

Bridgehouse is very pleased that the following distinguished individuals have agreed to serve as the members of the Bridgehouse IRC. You may contact the Bridgehouse IRC by e-mail at

Lawrence Ritchie, Partner, Osler, Hoskin & Harcourt LLP (IRC Chair)

Mr. Ritchie has extensive experience within the Canadian securities regulatory environment. Mr. Ritchie is a partner
in the litigation department of Osler Hoskin & Harcourt LLP, where he has practiced throughout his professional
career, except for his time spent at the Ontario Securities Commission (OSC). Mr. Ritchie’s practice at Osler involves
securities, governance, risk management, and business litigation matters, including regulatory investigations and
proceedings. Mr. Ritchie also Chairs Osler’s Risk Management and Crisis Response national practice and is a practice
lead for Osler’s Capital Markets Regulatory Enforcement and Broker-Dealer Disputes team. From 2007 until 2014,
Mr. Ritchie served as Vice-Chair of the OSC and was a member of the commission’s Board of Directors. In his position
at the OSC, Mr. Richie was responsible for establishing policy initiatives, oversight, and reviewing and ruling on
regulatory policy matters. Prior to his position at the OSC, Mr. Ritchie was again a Partner at Osler. Larry is a member
of the Board of Directors of the Financial Service Regulatory Authority of Ontario, the RCMP IMET Special Advisory
Group, as well as a number of not for profit boards. He is a frequent author and speaker on various financial
regulatory, governance and capital markets enforcement matters, including being the key editor of Osler’s Risk
Management/Crisis Response blog, lecturing at the Rotman School of Management/ICD-Rotman Directors Education
Program, and being an adjunct professor at Osgoode Law School.

Brian Gore, Former President & Chief Executive Officer, FundSERV Inc.

Mr. Gore has over 25 years of investment fund industry experience, with a focus on technology and administration. Mr. Gore retired as President and Chief Executive Officer from FundSERV Inc. where he worked from 2007 to 2012. Mr. Gore began his career in the investment funds industry in 1987 when he joined AGF as a Senior Systems Analyst and was shortly thereafter promoted to Manager. In 1993, Mr. Gore accepted the role of Vice-President of Client and Dealer Services and in 1996 was appointed Senior Vice-President of Administration. In 2002, AGF created a subsidiary, Unisen, and Mr. Gore was appointed Executive Vice-President of Corporate Development. Citigroup acquired Unisen in 2005 and at that time he was named Director of Corporate Development. Mr. Gore has been a member of a number of investment fund industry committees.

Colum P. Bastable, Former President & Chief Executive Officer, Cushman & Wakefield LePage Inc.

Mr. Bastable spent most of his career in Canada with Royal LePage Ltd. and its associated companies. During his tenure with Royal LePage, he held the offices of Chief Financial Officer, President and Chief Executive Officer, and Chairman. He was also President and Chief Executive Officer and Chairman of Cushman & Wakefield Ltd. Mr. Bastable is currently a member of the Board of Trustees of Slate Grocery REIT, Chair of its Audit Committee and a member of its Governance & Nominating Committee. Mr. Bastable is also a member of the Board of Directors, Audit Committee and Governance Committee of Bridgemarq Real Estate Services Inc. Mr. Bastable’s previous board appointments include: Brookfield Canada Office Properties (Chair of Governance and Nominating Committee and member of Audit Committee); Toronto Hydro Ltd. (Chair of Compensation and Nominating Committee and member of Audit Committee); and Toronto Hydro Electric System Ltd., its principal subsidiary (Chair). Mr. Bastable’s past community board service includes: McMaster University (Chair, Board of Governors); United Way of Greater Toronto; the National Ballet School; the Global Business & Economic Roundtable on Addiction and Mental Health in the Workplace; and The Ireland Funds Canada (Chair).

IRC Report to Securityholders

On an annual basis, the Bridgehouse IRC reports to securityholders regarding its activities on behalf of the Bridgehouse Funds.

IRC Report to Securityholders