university of western ontario international growth quarterly investment review period ending 12 31 2006 2 table contents fidelity confidential not for distribution beyond original recipient discipline overview 3 results 4 market 5 asset allocation 8 portfolio 9 europe japan 17 pacific ex 22 beg to provide long term capital via a diversified large medium and small cap companies in the basin strategy seeks excess returns relative applicable benchmark over full cycle approach is oriented concentrating on with above average earnings combined attractive valuations that possess fundamental strength technology or business competitive advantage are emphasized as many world s leading global competitors worldwide research team able valuable insight into aspects company position approachobjective buy process sell model favorable secular trends positive surprises reasonable deterioration fundamentals excessive
