Creststreet is a performance driven investment management firm focused exclusively on the energy sector. The firm was founded in 2000 with the premise that energy is an increasingly scarce commodity which will increase in value over time, providing attractive long-term investment opportunities. Our expertise extends to investing on a long and short basis in funds focused on both the conventional and alternative energy sectors.

Our mission is to achieve excellence in energy investing through strong and consistent investment performance across all of our energy investment products for our Canadian and international institutional and high net worth investors.

Creststreet Resource Fund

For Canadian Investors Only

The Creststreet Resource Fund (the "Fund") provides Canadian investors with exposure to a broad array of investments in the conventional energy market in Canada. The Fund's investment objective is to provide the potential for long-term growth of capital and to a lesser extent, the production of income. The Fund invests primarily in equity securities of Canadian resource issuers. The Fund may also invest in international securities.

Tax-Deferred Switching Between Funds
The Creststreet Resource Fund is a class of Creststreet Mutual Funds Limited, an open-ended, multi-class mutual fund which offers investors tax-deferred switching between fund classes. Creststreet Mutual Funds Limited has three classes:

Fund Details

Type Canadian Equity   Pricing Weekly
Sector Natural Resources   Minimum initial purchase $1,000
Fund code CAM100   Minimum subsequent purchase $100
Distributions Annually   Minimum account balance $1,000
Inception date December 31, 2004   Switch fee None
Load type Front-end (series A shares)   Service fee 0.50%
RRSP eligible Yes   Short-term trading fee 2.00%
Foreign content None   Management fee 2.00%
    

Fund Fact Sheet

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Performance

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Who Should Invest in the Creststreet Resource Fund?

This Fund is not intended to be a complete investment program and may only be suitable if you:

  • are seeking long-term capital appreciation;
  • are seeking exposure to the high growth potential of natural resource stocks;
  • can withstand high volatility in the value of the Fund's securities; and
  • can tolerate a high level of investment risk.
Investment Objectives and Strategies

The Creststreet Resource Fund (the "Fund") provides Canadian investors with exposure to a broad array of investments in the conventional energy market in Canada. The Fund's investment objective is to provide the potential for long-term growth of capital and to a lesser extent, the production of income. The Fund invests primarily in equity securities of Canadian resource issuers. The Fund may also invest in international securities.

  • To meet its objectives the Fund will invest primarily in companies in the Canadian energy industry with a focus on the Canadian natural gas sector.

  • Investments will be selected based on their low-cost production, excellent reserve base and potential for exploration success.

  • The Fund employs a value-oriented, "bottom-up" approach to investing. This involves a detailed analysis of the strengths of individual investments, with much less emphasis on short-term market factors. Far greater importance is placed upon an assessment of a company's balance sheet, cash flow characteristics, profitability, industry position, special strengths, future growth potential and management ability.

  • The portfolio manager selects investments it believes are trading below their intrinsic value and that offer the potential for consistently high growth potential. This approach is designed to provide an extra margin of safety, which in turn serves to reduce overall portfolio risk.

  • The portfolio manager manages investment partnerships on behalf of its clients and assets of these entities may be acquired by the Fund in the future on a tax-deferred basis.

  • The Fund may engage in short selling. The Fund is permitted to engage in short selling as a result of special relief it obtained from the Canadian securities regulators. This relief imposes limits and conditions on the Fund's short selling activities including that: (i) the Fund will short sell only securities of larger issuers that are traded on a stock exchange, (ii) the Fund will limit its short sale exposure to any single issuer to 5% of the Fund's total net assets and its aggregate short sale exposure to 20% of its total net assets, (iii) the Fund will place a "stop-loss" order with a dealer to immediately repurchase for the Fund the securities sold short if the trading price of the securities exceeds 120% (or a lower percentage determined by us) of the price at which the securities were sold short, (iv) the Fund will hold cash cover in an amount (including the Fund's assets deposited with lenders) that is at least 150% of the aggregate market value of all securities sold short, and (v) the Fund will deposit collateral only with lenders which fulfill certain criteria for creditworthiness. The Fund will engage in short selling as a complement to the Fund's current primary discipline of buying securities with the expectation that they will appreciate in market value. For a more detailed description of short selling and the limits within which the Fund may engage in short selling, please refer to "Investment Risks" in the first part of this document.

  • The Fund may choose to deviate from its investment objectives by temporarily investing most or all of its assets in cash or fixed income securities during periods of market downturn or for other reasons.

  • The Fund may invest in foreign securities up to a maximum of 50% of the Fund's NAV.
Investment Portfolio

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Press Releases
2010-02-02: : News Release: Creststreet Announces New Manangement Appointments [PDF file]
2009-11-24: : NEWS RELEASE: Creststreet Mutual Funds Limited Files Application Regarding Private Investment in Athabasca Oil Sands Corp. held by Creststreet Resource Fund [PDF file]
2008-12-15: : Creststreet Mutual Funds Limited Provides Update Regarding Private Investments of Creststreet Resource Fund [PDF file]
2008-11-20: News Release: Creststreet Mutual Funds Limited Files Application Regarding Private Investments of Creststreet Resource Fund [PDF file]
2008-08-21: Creststreet Mutual Funds Limited Terminates Creststreet Managed Income Fund and Files Application Application Regarding Private Investments of Creststreet Resource Fund: News Release [PDF file]
2008-03-07: News Release: Creststreet Mutual Fund Limited Pays Annual Capital Gains Dividend [PDF file]
2008-01-21: New Release: Creststreet Completes Rollover of Creststreet 2006 LP and Creststreet 2006 (II) LP into Creststreet Resource Fund [PDF file]
2007-05-01: News Release: Creststreet Announces Appointment of Jeffrey S. Boyce and Initial Members of Independent Review Committee [More]
2007-03-05: News Release: Creststreet Mutual Funds Limited Pays Annual Capital Gain Dividend [More]
2007-03-01: News Release: Creststreet Announces Changes to Board of Directors [More]
2007-01-23: News Release: Creststreet Completes Rollover of Creststreet 2005 LP into Creststreet Resource Fund [More]
2006-10-04: News Release: Creststreet Resource Fund - Series 2006 Announces One-for-One Share Exchange [More]
2006-09-22: News Release: Creststreet Mutual Funds Limited Pays Special Distribution [More]
2006-03-10: News Release: Creststreet Mutual Funds Limited Pays Annual Capital Gain Dividend [More]
2006-01-23: News Release: Creststreet Completes Rollover of Creststreet 2004 LP into Creststreet Resource Fund Delivering 98% Total After-Tax Return [More]
2006-03-08: News Release: Creststreet Mutual Funds Limited Announces Filing of Amended Simplified Prospectus [More]
2005-10-11: News Release: Creststreet Resource Fund - Series 2005 1:1 Share Exchange [More]
2005-03-07: News Release: Creststreet Resource Fund Pays Capital Gain Dividend [More]
2005-01-11: News Release: Creststreet Opens Strong Performing Resource Fund for Purchase by Public and Introduces Two New Asset Classes [PDF file]
2004-10-01: News Release: Creststreet Resource Fund - Series 2004 1:1 Share Exchange [More]
2004-02-27: News Release: Creststreet Resource Fund Pays Capital Gain Dividend [More]
2003-02-28: News Release: Creststreet Resource Fund Pays Capital Gain Dividend [More]
2003-01-22: News Release: Creststreet Resource Fund Limited Completes Roll-in of Creststreet 2001 Limited Partnership and Creststreet 2001(II) Limited Partnership [More]
2002-11-18: Update: Annual & Special Meeting: Reorganization of Mutual Fund Rollover Approved [More]
2002-10-15: Special Meeting: Creststreet Resource Fund - Special Meeting of Shareholders [More]
2002-01-18: News Release: Creststreet 2000 LP Completes Rollover into Creststreet Resource Fund [More]
2004-01-28: News Release: Creststreet Resource Fund Limited Completes Roll-in of Creststreet 2002 Limited Partnership [More]
Financial Statements
2009-08-28: : Interim Report: Creststreet Resource Fund - June 30, 2009 [PDF file]
2009-03-30: : Annual Report as at December 31, 2008 [PDF file]
2008-08-29: Interim Report: Creststreet Resource Fund - June 30, 2008 [PDF file]
2008-03-20: Annual Report: Creststreet Resource Fund - December 31, 2007 [PDF file]
2007-08-29: Interim Report: Creststreet Resource Fund - June 30, 2007 [PDF file]
2007-03-17: Annual Report: Creststreet Resource Fund - December 29, 2006 [PDF file]
2006-08-29: Interim Report: Creststreet Resource Fund - June 30, 2006 [PDF file]
2006-03-21: Annual Report: Creststreet Resource Fund - December 31, 2005 [PDF file]
2005-09-07: Interim Report: Creststreet Resource Fund - June 30, 2005 Semi-Annual Report [PDF file]
2005-03-11: Annual Report: Creststreet Annual Report - December 31, 2004 [PDF file]
2004-08-27: Interim Report: Creststreet Resource Fund Limited - June 30, 2004 Semi-Annual Report [PDF file]
2004-03-15: Annual Report: Creststreet Annual Report - December 31, 2003 [PDF file]
2003-09-11: Interim Report: [PDF file]
2003-03-04: Annual Report: Creststreet Annual Report - December 31, 2002 [PDF file]
2002-08-29: Interim Report: Creststreet Resource Fund Limited - June 30, 2002 Semi-Annual Report [PDF file]
Investor Tax Information

2009 Investor Tax Information

No T5 tax slips will be issued for the 2009 tax year as the Fund did not have any distributions for the 2009 tax year.

Adjusted Cost Base

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Simplified Prospectus

Dated October 8, 2009
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Dated October 8, 2009
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Annual Information Form

Dated October 8, 2009
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Dated October 8, 2009
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Proxy Voting Record

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Corporate Information

Corporate Information

Officers & Directors       Position with the Fund   Principal Occupation
 
Robert J. Toole
Toronto, Ontario		 | President, Chief Executive Officer and Director President, Chief Executive Officer and Managing Director of Creststreet
Jeffrey S. Boyce1
Calgary, Alberta		 | Director President, Chief Executive Officer and Director of SURE Energy Inc.
Stuart P. Hensman1
Toronto, Ontario		 | Director Member of the Board of Governors of the mutual funds managed by CI Investments and a director of Rifco Inc. and Brazalta Resources Corp.
John E. Thompson1
Calgary, Alberta		 | Director President, Chief Executive Officer and a director of Sirius Energy Inc.
Donna E. Shea
Toronto, Ontario		 | Vice President, Finance and Chief Financial Officer Vice President, Finance, Chief Financial Officer and a director of Creststreet
Michael D. Clare
Toronto, Ontario		 | Vice President Vice President and a director of Creststreet
Sheryl J. Chiddenton
Toronto, Ontario		 | Vice President, Secretary-Treasurer Vice President, Compliance and Investment Services, Secretary-Treasurer and a director of Creststreet


1 (Independent Director and Member of the IRC)



Legal Counsel
McCarthy Tétrault LLP
Toronto, Ontario

Auditors
KPMG LLP
Toronto, Ontario

Administrator
RBC Dexia Investor Services Trust

Custodian
RBC Dexia Investor Service Trust

Clearing and Settlement Services
FundSERV Inc.

Registered Address
Creststreet Mutual Funds Limited
c/o Creststreet Asset Management Limited.
70 University Avenue
Suite 1450
Toronto, Ontario
M5J 2M4

Tel: (416) 864-6330
Fax: (416) 862-8950
Toll-Free: 1-866-864-6330
E-mail: info@creststreet.com