Thornmark Dividend & Income Fund Celebrates 10-Year Anniversary with No.1 Morningstar Ranking



    TORONTO, April 30 /CNW/ - Thornmark Asset Management Inc. ("Thornmark")
is pleased to announce that 2009 marks the 10-year anniversary of the
Thornmark Dividend & Income Fund (the "Fund").
    Over the past 10 years, the Fund has consistently delivered superior
performance through various market conditions, resulting in the No. 1
Morningstar Canada ranking(1) in the Canadian Equity Balanced category over
each of the 1, 3, and 5-year periods as at March 31, 2009. The Fund returned
11.5% annually(2) since inception on December 31, 1998 through March 31, 2009,
significantly exceeding its benchmark(3) return of 2.7% over the same period.
    "The objective of this philosophy is to deliver excess returns over the
course of an entire economic cycle and in various market conditions," says
President & Chief Investment Officer, Daniel Bain. "The philosophy has been
applied consistently and successfully over the past 10 years, including during
the technology sector meltdown and the recent economic crisis."
    Thornmark's Value-Shift(TM) investment philosophy and process, developed
in the early 1990s, has been consistently applied since inception of the Fund.
The Value-Shift(TM) investment philosophy has a value style bias - selecting
investments that trade below their intrinsic value - but implements tactical
shifts to include growth and momentum styles throughout the progression of an
economic cycle. Trading opportunities are exploited at any point in the cycle.

    About Thornmark Asset Management Inc.

    Thornmark is an independent and focused investment management company
servicing high net worth families, foundations and institutions since 1998.
Balancing growth with capital preservation, Thornmark has established itself
as a premier North American investment manager.
    To invest in the Thornmark Investment Funds please contact: Chris Murphy,
cmurphy@thornmark.com, 416.204.6225 or Tim Morgan, tmorgan@thornmark.com
416.204.6221.

    
    Notes:
    (1) (C) 2009 Morningstar Research Inc. All Rights Reserved.  The
         information contained herein: (1) is proprietary to Morningstar
         and/or its content providers; (2) may not be copied or distributed;
         and (3) is not warranted to be accurate, complete or timely. Neither
         Morningstar nor its content providers are responsible for any
         damages or losses arising from any use of this information. Past
         performance is no guarantee of future results.

    (2)  annual compound rates of return reflect changes in unit value with
         distributions reinvested and after deduction commissions and
         operating expenses, but before deduction of investment management
         fees. Past performance does not guarantee future results. Unit
         values and investment returns will fluctuate. Important information
         about the Thornmark Investment Funds is contained in our Offering
         Memorandum, which is available upon request and should be read
         before investing.

    (3)  benchmark: 30% S&P/TSX Index, 30% S&P 500 Index, 30% DEX Universal
         Bond Index, 10% DEX 91-day t-bill. All indices are total return in
         Canadian dollars.
    




For further information:

For further information: about Thornmark please contact: Paul Spagnolo,
pspagnolo@thornmark.com, (416) 204-6220

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THORNMARK ASSET MANAGEMENT INC.

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