Independent Review Committee (IRC)

In 2006, the Canadian Securities Administrators enacted legislation requiring every mutual fund to establish an independent review committee (IRC) to address conflicts of interest that can arise between the manager and unitholders of the fund. The mandate of the Bridgehouse IRC is to review all conflict of interest matters referred to it by Bridgehouse, and consider whether Bridgehouse’s proposed actions achieve a fair and reasonable result for the Bridgehouse Funds. Bridgehouse refers for approval or recommendation all situations where a reasonable person could consider Bridgehouse to have an interest that could conflict with the interests of any Bridgehouse Fund.

IRC Members

Bridgehouse is very pleased that the following distinguished individuals have agreed to serve as the members of the Bridgehouse IRC. You may contact the Bridgehouse IRC by e-mail at

Colum P. Bastable, President & Chief Executive Officer, Cushman & Wakefield LePage Inc.

Colum Bastable is a chartered accountant and has been honoured as a Fellow Of The Institute of Chartered Accountants in Ireland, as well as an Honorary Doctor of Laws from McMaster University, Hamilton, Ontario, Canada. In 1976 , Colum joined the Quebec operations of the well known real estate brokerage firm Royal Lepage Ltd. as Vice President Finance. He rose to the position of Chief Financial Officer  of the company in 1982, and in 1987 played a key role in taking Royal Lepage public with a listing on The Toronto Stock Exchange. In June 1993, Colum was appointed Chief Executive Officer of Royal Lepage Limited. Colum was also Managing Partner, Commercial Real Estate Services of Brascan Corporation (now Brookfield Asset Management , and  Royal Lepage’s majority shareholder at the time). Royal Lepage Residential Real Estate Services were spun off into an Income Trust in 2000. In 2005, Royal Lepage Commercial was sold to Cushman & Wakefield Ltd. a New York based global commercial real estate firm. Colum remained as President of Cushman & Wakefield Canada Ltd until he became Chairman in 2008. Colum is well known and highly respected in Canada’s real estate industry. He continues to be consulted for his expertise and experience in the business. In addition to his current responsibilities, Colum sits on the Board of Trustees of Slate Retail REIT and is Chair of both its Audit Committee and it’s Governance and Nominating Committee. He is also a member of the Independent Review Committee of The Bridgehouse Funds, a large privately held mutual fund management firm headquartered in SAN Diego, California (Brandes Investments).Until 2017 (when the company was privatized) Colum was a member of the Board of Trustees of Brookfield Canada Office Properties REIT . He was Chair of its Governance and Nominating Committee, and a member of its Audit Committee. He was also a member of Special Committees of independent directors set up on two occasions for material transaction reviews. Until 2016, Colum was a member of the Board of Directors of Toronto Hydro Corporation, was Chair of its Compensation and Human Resources Committee, and a member of its Audit Committee. He was also Chair of Toronto Hydro Electric System Ltd. , its principal subsidiary. Colum has a long history of community service. He served on the Board of Governors of McMaster University, Hamilton, Ontario and was Chair of the Board of Governors from 2007 to 2009. He also Chaired the Committee to Recommend a President at McMaster in 2009 / 2010. He is a former Director of The YMCA of Greater Toronto, and Chair of its Audit Committee. He has served on the Campaign Cabinet for United Way in Toronto, and as a Director of The National Ballet School. He is a founding member and former Director of The Global Business and Economic Roundtable on Addiction and Mental Health in the Workplace. And true to his Irish roots ( born and raised in Dublin) , Colum is a former Chairman of The Ireland Fund of Canada , a charitable organization established by Mrs. Hilary Weston in Canada to promote Peace, Culture and Charity in Ireland.

Brian Gore, Former President & Chief Executive Officer, FundSERV Inc. 

Mr. Gore has over 25 years of investment fund industry experience, with a focus on technology and administration. Mr. Gore retired as President and Chief Executive Officer from FundSERV Inc. where he worked from 2007 to 2012. Mr. Gore began his career in the investment funds industry in 1987 when he joined AGF as a Senior Systems Analyst and was shortly thereafter promoted to Manager. In 1993, Mr. Gore accepted the role of Vice-President of Client and Dealer Services and in 1996 was appointed Senior Vice-President of

Administration. In 2002, AGF created a subsidiary, Unisen, and Mr. Gore was appointed Executive Vice President and Chief Operating Officer responsible for the operations of Unisen. In 2004, he was then appointed Executive Vice-President of Corporate Development. Subsequently, Citigroup acquired Unisen in 2005. Mr. Gore has been a member of a number of investment fund industry committees.

Nicholas Le Pan, Director, Canadian Imperial Bank of Commerce

Mr. Le Pan has extensive experience within the financial services sector, in particular in the areas of: regulation, risk governance, and oversight. In addition to his position as Chair of the Brandes IRC, Mr. Le Pan serves on the Board of Directors of CIBC, a major Canadian chartered bank. He also Chairs the Board of Directors of Canadian Public Accountability Board, the independent Canadian regulator of audit firms for reporting issuers. Mr. Le Pan frequently acts as a consultant on financial services matters for various organizations, including for the International Monetary Fund. Previously Mr. Le Pan has served as the Chair of CIBC’s risk committee and was a member of the CIBC’s governance committee. From 2001 to 2006 he was the Superintendent of Financial Institutions for Canada. Prior to that he served as Vice Chair of the Basel Committee on Banking Supervision. Additionally, Mr. Le Pan has both authored and provided significant contributions to various reports on financial services matters.

Lawrence Ritchie, Partner, Osler, Hoskin & Harcourt LLP.

Mr. Ritchie has extensive experience within the Canadian securities regulatory environment. Mr. Ritchie recently rejoined Osler , Hoskin & Harcourt LLP in 2014 as a Partner in the Litigation department after a period at the Ontario Securities Commission (OSC). Mr. Ritchie’s practice at Osler involves securities, governance, risk management, and business litigation matters, including regulatory investigations and proceedings.   Mr. Ritchie also Chairs Osler’s Risk Management and Crisis Response national practice and Co-Chairs Osler’s Capital Markets Regulatory Enforcement and Broker-Dealer Disputes team. From 2007 until 2014, Mr. Ritchie served as Vice-Chair of the OSC and was a member of the commission’s Board of Directors. In his position at the OSC, Mr. Richie was responsible for establishing policy initiatives, oversight, and reviewing and ruling on regulatory policy matters. Prior to his position at the OSC, Mr. Ritchie was again a Partner at Osler.

IRC Annual Report to Unitholders

On an annual basis, the Bridgehouse IRC reports to unitholders regarding its activities on behalf of the Bridgehouse Funds.

IRC Annual Report to Unitholders