Who we are

• Sprung & Co. is a specialized boutique focused on customized service and solid research.

• Because of our personalized approach, you always deal directly with one of our principals.

• We rely on a value-investing approach, using a logical, proven process aimed at preserving capital and avoiding unpleasant surprises.

• With more than 130 years of collective investing experience, Sprung & Co's perspective covers several business cycles. We have the intelligence and judgment to make careful, well-researched portfolio decisions based on your needs.

• Sprung & Co. is a member of the Investment Counsel Association of Canada.

• All members of Sprung & Co. adhere to the code of ethics of the CFA Institute.

Our partners and associates

Michael Reginald Sprung, CFA — President

Michael Reginald Sprung, CFA
President

Telephone 416-934-7160
msprung@sprunginvestment.com

Michael founded Sprung & Co. to meet the personalized needs of private clients, not-for-profit organizations, endowments, foundations and small institutions. As president, he is responsible for the firm's overall direction and investment portfolio decisions.

Michael's highlights:
• More than 30 years experience in the Canadian investment industry.
• Experience managing equity and balanced portfolios as large as several billion dollars for both taxable and non-taxable accounts.
• Member and past Director of the Toronto CFA Society, a member of the CFA Institute and a past member of the Professional Conduct Committee of the CFA Institute.
• Frequent commentator on BNN-TV, CBC-TV and in the financial press.
• Published in Money Sense magazine and other professional publications.
• Active Rotary member; past Director of the Hearing Foundation of Canada; former Chair of Bellwoods Centres for Community Living; Board Member of the Keystone Foundation.

Fred Palik, CFA — Vice President, Fixed Income

Fred Palik, CFA
Vice President, Fixed Income

Telephone 416-607-6890
fpalik@sprunginvestment.com

Fred is a member of Sprung & Co's investment committee with primary responsibility for fixed income and cash management. Fred also contributes his experience in investment policy and asset mix strategy.

Fred's highlights:
• Over 27 years of investment management experience.
• Extensive experience in fixed income management in a variety of senior positions, primarily in the insurance and hospital sectors.
• IT experience with emphasis on investment management applications.
• Member of the Toronto CFA Society and the CFA Institute.

Lois O'Sullivan, CFA — Vice President

Lois O'Sullivan, CFA
Vice President

Telephone 416-607-6697
lois@sprunginvestment.com

Lois is responsible for all fund administration duties and trade execution at Sprung & Co. She is an expert in operations, with experience and expertise in all aspects of fund management.

Lois's highlights:
• More that 25 years experience in investment management.
• Founding shareholder of Sprucegrove Investment Management, a successful specialist in international markets.
• Former Manager of Investment Services for Confed Investment Counselling.
• Former Director of Securities Research at Confederation Life Insurance Company.
• Fellow of the Life Office Management Institute (FLMI), the Toronto CFA Society and the CFA Institute.
• Longstanding involvement with the Victorian Order of Nurses (VON) serving in various senior roles with the South Central Ontario Foundation Board.

Joie P. Watts, CFA, FCSI — Vice President

Joie P. Watts, CFA, FCSI
Vice President

Telephone 416-607-6885
jpwatts@sprunginvestment.com

Joie's responsibilities include portfolio management, client relationship management and new client development. He is also a member of Sprung & Co's investment committee.

Joie's highlights:
• Over 30 years of progressive experience in the securities and investment industry.
• Private client experience at Merrill Lynch Royal Securities.
• Manager of the institutional equity options and index futures area at Burns Fry Limited.
• Senior Vice President, Director and Co-Head of institutional equity trading at Merrill Lynch Canada.
• Vice President, institutional equity and options trading, at Nesbitt Thomson.
• Managing Director of Instinet Canada Limited for over 10 years, leading the success of Instinet's Canadian operations from inception.
• CEO of Shorcan ATS Limited, a specialized marketplace for equity dealers trading as principal.
• Joie is active in charitable work and enjoys squash, golf and tennis. He is a member of Bigwin Island Golf Club, the Granite Club, Lake of Bays Tennis Club and the National Club.

Our affiliations

New browser windows open when you click on these links:
• Investment Counsel Association of Canada — www.investmentcounsel.org
• Chartered Financial Analyst (CFA) Institute — www.cfainstitute.org
• Ontario Securities Commission — www.osc.gov.on.ca
• Toronto CFA Society — www.torontocfa.ca

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