KCS Fund Strategies Inc. - s. 213(3)(b) of the LTCA

Headnote

Clause 213(3)(b) of the Loan and Trust Corporations Act. - application for approval to act as trustee.

Statutes Cited

Loan and Trust Corporations Act, R.S.O. 1990, c.L.25, as am., clause 213(3)(b).

Rules Cited

Ontario Securities Commission Approval 81-901, Approval of Trustees of Mutual Fund Trusts (1997), 20 OSCB 200.

January 7, 2005

Fasken Martineau DuMoulin LLP

Attention: Lata Casciano

Dear Sirs/Mesdames:

Further to the application dated March 30, 2004 (the "Application") filed on behalf of KCS Fund Strategies Inc. (the "Applicant") and based on the facts set out in the Application, pursuant to the authority conferred on the Ontario Securities Commission (the "Commission") in clause 213(3)(b) of the Loan and Trust Corporations Act (Ontario), the Commission approves the proposal that the Applicant act as trustee of Absolute Core Fund ("ACR Fund") and other future pooled funds which may be established and managed by the Applicant and offered pursuant to a prospectus exemption.