Chou Funds MERs

For Series A units

* Management fee after waivers and absorption

Note: Management expense ratio (MER) is based on total expenses for the stated period and is expressed as an annualized percentage of weekly average net assets during the period.


Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their value change frequently and past performance may not be repeated. The indicated rates of return in this communication are historical annual compound total returns including changes in unit value and the reinvestment of all distributions and do not take into account sales, redemption, distribution, optional charges or income taxes payable by any security holder that would have reduced returns.