Burgundy Asset Management Ltd. has adopted the Code of Ethics and Standards of Professional Conduct of the CFA Institute – an international, non-profit association of more than 50,000 investment practitioners in over 100 countries (www.cfainstitute.org). This forms the foundation for our Statement of Principles, which all employees must uphold.

Our commitment to good governance is also evidenced through our membership in the Canadian Coalition for Good Governance (www.ccgg.ca).

Our funds are governed by a Trust Indenture between RBC Dexia Investor Services Trust as Trustee, and Burgundy Asset Management Ltd. as Manager. As Trustee, RBC Dexia serves as custodian of the funds’ investments. The funds are audited annually by Ernst & Young LLP, Chartered Accountants. Legal services are provided by Borden Ladner Gervais LLP.

Burgundy’s Independent Review Committee includes experienced and well-respected members of the Canadian business and investment community. The Committee’s mandate is to oversee all matters involving conflicts, whether real or perceived, between Burgundy and our clients.

Burgundy’s independent Advisory Board includes highly respected members of the business and investment community. Board members draw upon their years of experience in order to provide their insights and opinions to the management team on the strategic direction and managed growth of the firm.