Pierre Bernard

PIERRE BERNARD, CFA, Portfolio Manager, Talvest New Economy Fund_ joined
T.A.L. and the firm’s Canadian equity team in 1994. After graduating
from the University of Sherbrooke with a Business Administration degree,
he joined the Caisse de depot et de placement du Quebec. At the Caisse,
he managed a C$1.2 billion Canadian equity portfolio which outperformed
the TSE 300 from 1989 to 1994. As Vice-president of the Canadian Equity
team at T.A.L., Mr. Bernard researches TSE 300 stocks which involve in
communications, technology, health care and instrumentation. The team
manages over C$7 billion, including nearly C$200 million for Talvest.
Management Style – Bottom-up Growth. Talvest New Economy Fund – 1. The
Fund focuses on growth industries of today and tomorrow. 2. The Fund
uses the exclusive research of economist Nuala Beck. 3. The Fund
emphasizes the "four engines" of growth of the new economy, which
include: a) communications b) technology c) health care d)
instrumentation. 4. The Fund spans 19 of the 39 TSE 300 subsectors. 5.
While the Fund is fully RSP-eligible, it maximizes its foreign portion
diversified into New economy sectors such as pharmaceuticals, health
care, software, semiconductors and instrumentation. In his free time, he
enjoys renovating an antique Citroen.