Toronto-based Goodman & Co., Investment Counsel Ltd. announced that high-water marks will be added to two hedge funds — Dynamic Power Hedge Fund and Dynamic Power Emerging Markets Fund — effective on or before June 30.

For units purchased prior to Jan. 1, the initial high-water mark is the net asset value per unit at the end of 2007, on the last date the funds paid a performance fee. For units purchased on or after Jan. 1, the initial high-water mark is the NAV at the end of 2008.

The presence of a high-water mark will ensure that before a performance fee is charged, the Funds will achieve a return above the previous NAV on which performance fees were paid. High water marks are already provided in the offering documents of the other five Dynamic hedge funds.