seamark pooled international equity fund march 31 2007 philosophy & strategy portfolio managers commentary s bottom up fundamental approach to investing seeks identify companies with superior long term investment merit based on proven management competitive position and strong balance sheets preference is given durable growth prospects the preserve enhance capital through gains some current dividend income by primarily in securities of outside canada united states focus individual rather than stock market this buying company consistent objective owning for invest when their price represents value relative potential maintains an so as it continues offer attractive return founded a multi national geographically diversified business these also provide low risk participation emerging economies security selection drives country allocation one at