This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Goodwood Inc. Update

TORONTO, Dec. 31, 2012 /CNW/ - Peter Puccetti, Chairman & Chief Executive Officer of Goodwood Inc. ("Goodwood"), the manager of several investment funds including the Goodwood Capital Fund (+9.7% year-to-date return as of December 28, 2012, versus +5.0% for the fund's designated benchmark* for the same period) is pleased to announce that Cameron MacDonald will assume the role of Chairman of the Goodwood Advisory Committee, a non-executive role.  Mr. MacDonald has recently resigned as a director and officer of Goodwood. This is in keeping with the ongoing evolution of Goodwood, which is now in its seventeenth year of operations.  As well, Goodwood is pleased to announce its plan to expand the Goodwood investment team by adding Chris Currie (subject to regulatory approval), portfolio manager of the Milford Capital Fund, an investment fund with a strong track record.  Chris' deep experience in managing yielding securities will be invaluable in allowing Goodwood to offer new income-oriented solutions in response to client demand.

In a related matter, Goodwood also announces a proposed share purchase transaction (subject to regulatory approval and the relevant parties reaching a definitive agreement) that will result in Peter Puccetti, Goodwood's founder, increasing his indirect interest in Goodwood to a controlling 97.2% by purchasing shares from existing shareholders, including Mr. MacDonald. Goodwood does not expect the share purchase transaction to have any material impact on the day-to-day operations of Goodwood or its management of the Goodwood Capital Fund.  Commensurate with this transaction, Peter Puccetti and a company controlled by him have materially added to their holdings in the Goodwood Fund (another investment fund managed by Goodwood) as of December 31, 2012, solidifying his commitment, as the largest unitholder, to the success of the Goodwood Fund.

Mr. Puccetti commented, "We expect to be able to offer our clients more income-oriented investment solutions which, when combined with our core value investment focus and history of shareholder activism, balances Goodwood's set of investment skills nicely. Subject to regulatory approval, Cam's plan to invest in a Goodwood income account is indicative of the tremendous demand we see for income. We believe Goodwood's detailed, bottom-up approach to analysis and Chris' experience will allow for the creation of well-diversified and stable income-generating portfolios. Commensurately, my increased investment in the Goodwood Fund speaks to my belief in the return potential of Goodwood's positions."

Mr. MacDonald added, "The Goodwood approach of common sense, bottom-up value stock picking is a style that I believe has particular relevance in today's environment and is well-positioned to deliver good investment performance in the future. My confidence in Peter and the team is evidenced by both my staying on as Chairman of the Goodwood Advisory Committee and by my plan to invest in a Goodwood income account."

Subject to obtaining all requisite regulatory approval, the share purchase transaction is expected to be completed in the first quarter of 2013.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,718.24 +40.34 0.24%
S&P 500 1,953.74 +2.92 0.15%
NASDAQ 4,463.0780 +10.2860 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs