To Our Valued Canso Clients and Friends:

As Chair of Canso Investment Counsel Ltd., I am proud to tell you that our Board of Directors has unanimously voted to appoint Heather Mason-Wood as President and Chief Strategy Officer of our company.

In her new role, Heather will be responsible for all non-investment related activities of the firm including Strategy, Affiliates, Product Development, Finance, Legal, Human & Corporate Capital, Client Services and Securities Administration.

She will continue to be a Portfolio Manager and, as one of our most experienced and respected credit professionals, will continue to report to me in my capacity as Chief Investment Officer.

I will continue as CEO and Chair of Canso Investment Counsel Ltd.

With more than 20 years of leadership at Canso, Heather has been instrumental in the successful growth of Canso from a team of 5 people to the nearly 60 people we have today. She has been involved in every important initiative of our company since she joined us in 2003 and has been instrumental to our success.

Despite her heavy corporate workload, she has given back as an influential community leader through United Way and has contributed immensely to our many other charitable activities.

Heather is a strong advocate of building diversity in the finance and investment industry, including within our company. Her success in our industry, as one of the few women in her new role, makes me proud to be part of Canso.

In Canso’s more than 25 years of managing portfolios, we have simply focused on delivering the best possible outcomes for our clients. I believe we have achieved that, and we are very glad to have clients that appreciate our focus and skills.

Heather and all of us at Canso are committed to maintaining that approach as a dedicated group of people working together at an independent portfolio management firm.

Please join me in congratulating Heather and join me in offering her our full support.

Sincerely,

John Carswell
CEO and CIO
Canso Investment Counsel Ltd.