China A-Shares Core Strategy

Inception: November 2005

Benchmark: MSCI China A Onshore Total Return Index

Lead Portfolio Manager: Jun Li, MBA

Investment Adviser: Power Pacific Investment Management Inc.

• Shanghai-based, fully bilingual high calibre analyst team with diverse backgrounds from industry, private equity, and consulting.
• Long-term and high conviction investing designed to maximize total returns and maintain a high active share.
• Research-focused, fundamentals-driven high-conviction portfolio construction.

Power Pacific implements a long-term, fundamentals-based strategy focused on China’s public equity markets. Power Pacific’s focus is on business sustainability over the long term. Power Pacific believes its edge is its private-equity approach to public markets investing: long-term time horizon, concentrated portfolio, forensic due diligence, and emphasis on corporate citizenship and good governance.

• Portfolio management is driven by fundamental insights with few top-down constraints.
• Bottom up idea generation from extensive industry knowledge, company visits and a strong network of local contacts.
• Risk-focused, stock by stock conviction, which is based on intrinsic value and growth expectation.

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GIPS Compliance Statement

Mackenzie Investments claims compliance with the Global Investment Performance Standards (GIPS®).

Benchmark Description

MSCI China A Onshore Index: The MSCI China A Onshore Index captures large and mid cap representation across China securities listed on the Shanghai and Shenzhen exchanges.

Sagard China is not carrying out any financial advisory services and not acting as any investor’s and potential investor’s financial adviser or in any fiduciary capacity. Sagard China accepts no liability and responsibility, whatsoever, for any direct or consequential loss arising from any use of or reliance on this publication. This material is provided on an “as is” and “as available” basis and subject to change, of whatsoever form and nature, at any time without notice.

SAGARD CHINA IS COMPRISED OF POWER PACIFIC INVESTMENT MANAGEMENT INC., A CANADIAN CORPORATION REGISTERED WITH SECURITIES REGULATORS IN ONTARIO AND QUEBEC AS A PORTFOLIO MANAGER AND INVESTMENT FUND MANAGER, AND POWER PACIFIC CORPORATION LIMITED, A GENERAL RESEARCH TEAM BASED IN HONG KONG AND SHANGHAI THAT IS NOT REGISTERED, LICENSED OR OTHERWISE QUALIFIED UNDER THE LAWS OF ANY JURISDICTION AS AN ASSET OR PORTFOLIO MANAGER.