CANMARC is committed to managing its business in accordance with a set of values that adhere to the highest standards of integrity, governance and excellence. Our reputation and the trust and confidence of those with whom we deal are among our most vital assets.

CANMARC’s commitment to strong governance is reflected in our governance practices, investment guidelines and operating policies as provided in our Code of Business Conduct and Declaration of Trust. It is also reflected in the composition and responsibilities of our Board of Trustees which must at all times be composed of a majority of independent trustees.

CANMARC’s Code of Business Conduct applies to all trustees, officers and management of CANMARC and its subsidiaries. The objective of the Code of Business Conduct is to provide guidelines for maintaining the integrity, reputation, honesty, objectivity and impartiality of CANMARC and its subsidiaries. The Code of Business Conduct also addresses conflicts of interest, protecting CANMARC’s assets, confidentiality, fair dealing with unitholders, competitors and employees, insider trading, compliance with laws and reporting any illegal or unethical behaviour. The Board of Trustees has the ultimate responsibility for the stewardship of the Code of Business Conduct.

The Declaration of Trust contains CANMARC’s investment guidelines and limitations on CANMARC’s ability to incur or assume secured and unsecured indebtedness. It also specifies the matters that require the approval of a majority of trustees and those that require the approval of a majority of the independent trustees.