<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">		<infoTable>
			<nameOfIssuer>2U Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>90214J101</cusip>
			<value>7048</value>
			<shrsOrPrnAmt>
				<sshPrnamt>184167</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>184167</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>3M Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88579Y101</cusip>
			<value>62782</value>
			<shrsOrPrnAmt>
				<sshPrnamt>356452</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>356452</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>8x8 Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>282914100</cusip>
			<value>8233</value>
			<shrsOrPrnAmt>
				<sshPrnamt>533887</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>533887</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AGCO Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>001084102</cusip>
			<value>68026</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1379738</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1379738</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMN Healthcare Services Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>001744101</cusip>
			<value>3104</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97440</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>97440</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AO Smith Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>831865209</cusip>
			<value>1204</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12190</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1219</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AT&amp;T Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00206R102</cusip>
			<value>113208</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2789068</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2789068</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AbbVie Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00287Y109</cusip>
			<value>85209</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1351605</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1351605</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Acadia Healthcare Co. Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00404A109</cusip>
			<value>3382</value>
			<shrsOrPrnAmt>
				<sshPrnamt>68300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>68300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Accenture PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G1151C101</cusip>
			<value>20010</value>
			<shrsOrPrnAmt>
				<sshPrnamt>163878</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>163878</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Acuity Brands Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00508Y102</cusip>
			<value>40253</value>
			<shrsOrPrnAmt>
				<sshPrnamt>152179</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>152179</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Adobe Systems Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00724F101</cusip>
			<value>69593</value>
			<shrsOrPrnAmt>
				<sshPrnamt>641345</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>641345</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Advantage Oil and Gas Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00765F101</cusip>
			<value>3332</value>
			<shrsOrPrnAmt>
				<sshPrnamt>475478</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>475478</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Agnico Eagle Mines Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>008474108</cusip>
			<value>53752</value>
			<shrsOrPrnAmt>
				<sshPrnamt>994453</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>994453</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Agrium Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>008916108</cusip>
			<value>62878</value>
			<shrsOrPrnAmt>
				<sshPrnamt>694015</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>694015</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Air Products and Chemicals Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>009158106</cusip>
			<value>1910</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12710</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>12710</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Alamos Gold Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>011532108</cusip>
			<value>4286</value>
			<shrsOrPrnAmt>
				<sshPrnamt>520835</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>520835</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Albemarle Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>012653101</cusip>
			<value>40603</value>
			<shrsOrPrnAmt>
				<sshPrnamt>475068</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>475068</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Alibaba Group Holding Ltd. ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>01609W102</cusip>
			<value>10320</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97608</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>97608</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Alliant Energy Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>018802108</cusip>
			<value>9</value>
			<shrsOrPrnAmt>
				<sshPrnamt>228</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>228</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Alphabet Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02079K305</cusip>
			<value>97727</value>
			<shrsOrPrnAmt>
				<sshPrnamt>121574</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>121574</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Altria Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02209S103</cusip>
			<value>170435</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2696792</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2696792</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AmSurg Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03232P405</cusip>
			<value>3764</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56173</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>56173</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Amaya Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02314M108</cusip>
			<value>48</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2987</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2987</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Amazon.com Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023135106</cusip>
			<value>127480</value>
			<shrsOrPrnAmt>
				<sshPrnamt>152290</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>152290</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Amerco Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023586100</cusip>
			<value>6</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>20</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American Electric Power Co. Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>025537101</cusip>
			<value>9</value>
			<shrsOrPrnAmt>
				<sshPrnamt>133</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>133</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American Express Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>025816109</cusip>
			<value>19</value>
			<shrsOrPrnAmt>
				<sshPrnamt>300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>American Tower Corp. REIT</nameOfIssuer>
			<titleOfClass>REIT</titleOfClass>
			<cusip>03027X100</cusip>
			<value>71857</value>
			<shrsOrPrnAmt>
				<sshPrnamt>634215</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>634215</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AmerisourceBergen Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03073E105</cusip>
			<value>24</value>
			<shrsOrPrnAmt>
				<sshPrnamt>300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Amgen Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>031162100</cusip>
			<value>26268</value>
			<shrsOrPrnAmt>
				<sshPrnamt>157561</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>157561</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Amphenol Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032095101</cusip>
			<value>48467</value>
			<shrsOrPrnAmt>
				<sshPrnamt>746764</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>746764</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Anadarko Petroleum Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032511107</cusip>
			<value>2576</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40684</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>40684</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Analog Devices Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032654105</cusip>
			<value>24053</value>
			<shrsOrPrnAmt>
				<sshPrnamt>373415</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>373415</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Annaly Capital Management Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>035710409</cusip>
			<value>16</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Apple Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>037833100</cusip>
			<value>23</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Applied Materials Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>038222105</cusip>
			<value>65481</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2172417</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2172417</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Aqua America Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03836W103</cusip>
			<value>7</value>
			<shrsOrPrnAmt>
				<sshPrnamt>234</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>234</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Asanko Gold Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>04341Y105</cusip>
			<value>21259</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5073329</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5073329</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Atlassian Corp. PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G06242104</cusip>
			<value>32</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1054</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1054</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>B2Gold Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>11777Q209</cusip>
			<value>4396</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1677012</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1677012</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BCE Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05534B760</cusip>
			<value>94608</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2049707</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2049707</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Baidu Inc. ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>056752108</cusip>
			<value>4481</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24625</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2463</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bank Of America Corp. 7.25% Preferred</nameOfIssuer>
			<titleOfClass>CPFD</titleOfClass>
			<cusip>060505682</cusip>
			<value>193</value>
			<shrsOrPrnAmt>
				<sshPrnamt>158</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>158</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bank of Montreal</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>063671101</cusip>
			<value>66456</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1014728</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1014728</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bank of Nova Scotia</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>064149107</cusip>
			<value>79671</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1504369</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1504369</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Barrick Gold Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>067901108</cusip>
			<value>1797</value>
			<shrsOrPrnAmt>
				<sshPrnamt>101514</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>101514</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Beacon Roofing Supply Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>073685109</cusip>
			<value>2102</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>50000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Becton Dickinson and Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>075887109</cusip>
			<value>485</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Berkshire Hathaway Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>084670702</cusip>
			<value>18597</value>
			<shrsOrPrnAmt>
				<sshPrnamt>128802</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>13</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Blackberry Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09228F103</cusip>
			<value>102</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12826</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>12826</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Bristol-Myers Squibb Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>110122108</cusip>
			<value>59478</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1103539</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1103539</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Broadcom Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>Y09827109</cusip>
			<value>71862</value>
			<shrsOrPrnAmt>
				<sshPrnamt>416699</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>416699</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Broadridge Financial Solutions Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>11133T103</cusip>
			<value>3777</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55744</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>55744</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Brookfield Asset Management Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>112585104</cusip>
			<value>48029</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1366744</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1366744</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Brookfield Business Partners LP - Units</nameOfIssuer>
			<titleOfClass>UNIT</titleOfClass>
			<cusip>G16234109</cusip>
			<value>381</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14493</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>14493</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Brookfield Infrastructure Partners LP</nameOfIssuer>
			<titleOfClass>LTD PART</titleOfClass>
			<cusip>G16252101</cusip>
			<value>18876</value>
			<shrsOrPrnAmt>
				<sshPrnamt>545068</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>545068</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Brookfield Property Partners LP</nameOfIssuer>
			<titleOfClass>LTD PART</titleOfClass>
			<cusip>G16249107</cusip>
			<value>137</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5997</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5997</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Brookfield Renewable Partners LP</nameOfIssuer>
			<titleOfClass>LTD PART</titleOfClass>
			<cusip>G16258108</cusip>
			<value>1244</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40495</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>40495</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Buckeye Partners LP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>118230101</cusip>
			<value>8</value>
			<shrsOrPrnAmt>
				<sshPrnamt>105</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>105</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAE Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>124765108</cusip>
			<value>5781</value>
			<shrsOrPrnAmt>
				<sshPrnamt>407332</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>407332</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CGI Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>39945C109</cusip>
			<value>47396</value>
			<shrsOrPrnAmt>
				<sshPrnamt>995623</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>995623</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CME Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12572Q105</cusip>
			<value>22443</value>
			<shrsOrPrnAmt>
				<sshPrnamt>214850</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>214850</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CMS Energy Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125896100</cusip>
			<value>8</value>
			<shrsOrPrnAmt>
				<sshPrnamt>197</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>197</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CRH Medical Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12626F105</cusip>
			<value>8712</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2246767</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2246767</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CSX Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126408103</cusip>
			<value>12304</value>
			<shrsOrPrnAmt>
				<sshPrnamt>403634</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>403634</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CVS Health Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126650100</cusip>
			<value>18195</value>
			<shrsOrPrnAmt>
				<sshPrnamt>204578</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>204578</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CalAtlantic Group Inc 1.25% August 1, 2032</nameOfIssuer>
			<titleOfClass>CB</titleOfClass>
			<cusip>85375CBC4</cusip>
			<value>6968</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6690000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>6690000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cameco Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>13321L108</cusip>
			<value>958</value>
			<shrsOrPrnAmt>
				<sshPrnamt>112232</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>112232</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Canadian Imperial Bank of Commerce</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>136069101</cusip>
			<value>11544</value>
			<shrsOrPrnAmt>
				<sshPrnamt>148961</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>148961</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Canadian National Railway Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>136375102</cusip>
			<value>83540</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1278724</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1278724</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Canadian Natural Resources Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>136385101</cusip>
			<value>57198</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1790260</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1790260</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Canadian Pacific Railway Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>13645T100</cusip>
			<value>1424</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9336</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>9336</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Celestica Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>15101Q108</cusip>
			<value>35</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3273</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3273</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cemex SAB de CV 3.75% March 15, 2018</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>151290BC6</cusip>
			<value>6647</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5925000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>0</Shared>
				<None>5925000</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cenovus Energy Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>15135U109</cusip>
			<value>3726</value>
			<shrsOrPrnAmt>
				<sshPrnamt>259748</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>259748</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Central Fund of Canada Ltd.</nameOfIssuer>
			<titleOfClass>MFC</titleOfClass>
			<cusip>153501101</cusip>
			<value>4145</value>
			<shrsOrPrnAmt>
				<sshPrnamt>299700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>44700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Check Point Software Technologies Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>M22465104</cusip>
			<value>8</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Chevron Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>166764100</cusip>
			<value>3111</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30236</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>30236</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>China Biologic Products Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>16938C106</cusip>
			<value>16320</value>
			<shrsOrPrnAmt>
				<sshPrnamt>131135</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>131135</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Chubb Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H1467J104</cusip>
			<value>208482</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1659879</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1659879</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cimarex Energy Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>171798101</cusip>
			<value>1926</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14344</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>14344</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cisco Systems Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>17275R102</cusip>
			<value>39565</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1248028</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1248028</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Coeur Mining Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>192108504</cusip>
			<value>2209</value>
			<shrsOrPrnAmt>
				<sshPrnamt>186800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>186800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Colgate-Palmolive Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>194162103</cusip>
			<value>35395</value>
			<shrsOrPrnAmt>
				<sshPrnamt>477674</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>477674</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Colliers International Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>194693107</cusip>
			<value>9691</value>
			<shrsOrPrnAmt>
				<sshPrnamt>231006</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>231006</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Comcast Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20030N101</cusip>
			<value>20215</value>
			<shrsOrPrnAmt>
				<sshPrnamt>304885</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>35763</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Concho Resources Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20605P101</cusip>
			<value>55662</value>
			<shrsOrPrnAmt>
				<sshPrnamt>405359</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>405359</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Concordia International Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20653P102</cusip>
			<value>5</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1008</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1008</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Consolidated Edison Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>209115104</cusip>
			<value>17</value>
			<shrsOrPrnAmt>
				<sshPrnamt>228</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>228</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Constellation Brands Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>21036P108</cusip>
			<value>44293</value>
			<shrsOrPrnAmt>
				<sshPrnamt>266107</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>266107</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Continental Resources Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>212015101</cusip>
			<value>2013</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38755</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>38755</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Corning Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>219350105</cusip>
			<value>47865</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2024404</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2024404</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Costco Wholesale Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>22160K105</cusip>
			<value>50937</value>
			<shrsOrPrnAmt>
				<sshPrnamt>334077</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>334077</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cott Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>22163N106</cusip>
			<value>44</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3081</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3081</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Credicorp Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G2519Y108</cusip>
			<value>17231</value>
			<shrsOrPrnAmt>
				<sshPrnamt>113227</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>113227</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Crescent Point Energy Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>22576C101</cusip>
			<value>700</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53124</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>53124</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Crown Castle International Corp. REIT</nameOfIssuer>
			<titleOfClass>REIT</titleOfClass>
			<cusip>22822V101</cusip>
			<value>19</value>
			<shrsOrPrnAmt>
				<sshPrnamt>197</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>197</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ctrip.com International Ltd. 1.25% October 15, 2018</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>22943FAD2</cusip>
			<value>7447</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5775000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1443750</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ctrip.com International Ltd. ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>22943F100</cusip>
			<value>2426</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52125</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>13031</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cummins Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>231021106</cusip>
			<value>455</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3552</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3552</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DCP Midstream Partners LP</nameOfIssuer>
			<titleOfClass>LTD PART</titleOfClass>
			<cusip>23311P100</cusip>
			<value>12</value>
			<shrsOrPrnAmt>
				<sshPrnamt>326</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>326</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Danaher Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>235851102</cusip>
			<value>20291</value>
			<shrsOrPrnAmt>
				<sshPrnamt>259000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>259000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Darden Restaurants Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>237194105</cusip>
			<value>6</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Deere &amp; Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>244199105</cusip>
			<value>9</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dell Technologies Inc. - VMware Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>24703L103</cusip>
			<value>1</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>220</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Delphi Automotive PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G27823106</cusip>
			<value>782</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10967</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>10967</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Devon Energy Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25179M103</cusip>
			<value>5103</value>
			<shrsOrPrnAmt>
				<sshPrnamt>115740</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>115740</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Discover Financial Services</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>254709108</cusip>
			<value>452</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>8000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dollar General Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>256677105</cusip>
			<value>66810</value>
			<shrsOrPrnAmt>
				<sshPrnamt>954823</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>954823</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dominion Diamond Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>257287102</cusip>
			<value>23</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2374</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2374</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dominion Resources Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25746U109</cusip>
			<value>7</value>
			<shrsOrPrnAmt>
				<sshPrnamt>96</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>96</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dominion Resources Inc. 6.375% Preferred July 1, 2017</nameOfIssuer>
			<titleOfClass>CPFD</titleOfClass>
			<cusip>25746U869</cusip>
			<value>168</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3383</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3383</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Donaldson Co. Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>257651109</cusip>
			<value>10455</value>
			<shrsOrPrnAmt>
				<sshPrnamt>280236</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>280236</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Duke Energy Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26441C204</cusip>
			<value>23</value>
			<shrsOrPrnAmt>
				<sshPrnamt>293</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>293</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Dycom Industries Inc. 0.75% September 15, 2021</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>267475AB7</cusip>
			<value>218</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>200000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EOG Resources Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26875P101</cusip>
			<value>2323</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24031</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>24031</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQT Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26884L109</cusip>
			<value>2169</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29886</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>29886</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQT Midstream Partners LP</nameOfIssuer>
			<titleOfClass>LTD PART</titleOfClass>
			<cusip>26885B100</cusip>
			<value>7</value>
			<shrsOrPrnAmt>
				<sshPrnamt>96</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>96</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Eastman Chemical Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>277432100</cusip>
			<value>2768</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40916</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>40916</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ecolab Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>278865100</cusip>
			<value>3887</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31953</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>31953</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Edison International</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>281020107</cusip>
			<value>9</value>
			<shrsOrPrnAmt>
				<sshPrnamt>118</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>118</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Edwards Lifesciences Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>28176E108</cusip>
			<value>76181</value>
			<shrsOrPrnAmt>
				<sshPrnamt>632059</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>632059</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Eldorado Gold Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>284902103</cusip>
			<value>22658</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5762633</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5762633</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Emerson Electric Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>291011104</cusip>
			<value>8942</value>
			<shrsOrPrnAmt>
				<sshPrnamt>164145</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>164145</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EnLink Midstream Partners LP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29336U107</cusip>
			<value>12</value>
			<shrsOrPrnAmt>
				<sshPrnamt>677</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>677</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Enbridge Energy Partners LP</nameOfIssuer>
			<titleOfClass>LTD PART</titleOfClass>
			<cusip>29250R106</cusip>
			<value>10</value>
			<shrsOrPrnAmt>
				<sshPrnamt>375</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>375</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Enbridge Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29250N105</cusip>
			<value>78631</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1790129</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1790129</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Encana Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>292505104</cusip>
			<value>30759</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2945124</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2945124</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Enersis Americas SA ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>29274F104</cusip>
			<value>31</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3742</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3742</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Enersis Chile SA ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>29278D105</cusip>
			<value>18</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3808</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3808</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Equifax Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>294429105</cusip>
			<value>33487</value>
			<shrsOrPrnAmt>
				<sshPrnamt>248891</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>248891</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Equinix Inc. REIT</nameOfIssuer>
			<titleOfClass>REIT</titleOfClass>
			<cusip>29444U700</cusip>
			<value>67474</value>
			<shrsOrPrnAmt>
				<sshPrnamt>187348</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>187348</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Eversource Energy</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30040W108</cusip>
			<value>7</value>
			<shrsOrPrnAmt>
				<sshPrnamt>130</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>130</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Exelon Corp. 6.50% Preferred June 1, 2017</nameOfIssuer>
			<titleOfClass>CPFD</titleOfClass>
			<cusip>30161N127</cusip>
			<value>135</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Express Scripts Holding Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30219G108</cusip>
			<value>16400</value>
			<shrsOrPrnAmt>
				<sshPrnamt>232657</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>232657</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Exxon Mobil Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30231G102</cusip>
			<value>79827</value>
			<shrsOrPrnAmt>
				<sshPrnamt>914928</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>914928</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Facebook Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30303M102</cusip>
			<value>114322</value>
			<shrsOrPrnAmt>
				<sshPrnamt>891500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>891500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Finisar Corp. 0.50% December 15, 2033</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>31787AAM3</cusip>
			<value>118</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>100000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FireEye Inc. 1.625% June 1, 2035</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>31816QAD3</cusip>
			<value>5165</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5670000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5670000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>First Majestic Silver Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>32076V103</cusip>
			<value>46</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4422</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>4422</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>First Solar Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>336433107</cusip>
			<value>230</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5835</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5835</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FirstService Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>33767E103</cusip>
			<value>296</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6359</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>127180</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FleetCor Technologies Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>339041105</cusip>
			<value>25</value>
			<shrsOrPrnAmt>
				<sshPrnamt>143</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>143</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Fomento Economico Mexicano SAB de CV ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>344419106</cusip>
			<value>21547</value>
			<shrsOrPrnAmt>
				<sshPrnamt>234163</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>234163</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Foot Locker Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>344849104</cusip>
			<value>4141</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61180</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>61180</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Forestar Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>346233109</cusip>
			<value>9945</value>
			<shrsOrPrnAmt>
				<sshPrnamt>849547</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>849547</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Fortuna Silver Mines Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>349915108</cusip>
			<value>2798</value>
			<shrsOrPrnAmt>
				<sshPrnamt>386107</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>386107</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Fortune Brands Home &amp; Security Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>34964C106</cusip>
			<value>63032</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1085170</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1085170</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Franco-Nevada Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>351858105</cusip>
			<value>57010</value>
			<shrsOrPrnAmt>
				<sshPrnamt>816451</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>816451</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Frontier Communications Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>35906A108</cusip>
			<value>7342</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1765978</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1765978</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>General Cable Corp. 4.50% November 15, 2029</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>369300AL2</cusip>
			<value>74</value>
			<shrsOrPrnAmt>
				<sshPrnamt>110000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>110000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>General Mills Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>370334104</cusip>
			<value>26</value>
			<shrsOrPrnAmt>
				<sshPrnamt>400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Gibraltar Industries Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>374689107</cusip>
			<value>5534</value>
			<shrsOrPrnAmt>
				<sshPrnamt>149043</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>149043</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Gildan Activewear Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>375916103</cusip>
			<value>179</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6414</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>6414</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Gilead Sciences Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>375558103</cusip>
			<value>395</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Global X MSCI Norway ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>37950E747</cusip>
			<value>24289</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2181137</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2181137</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Gold Standard Ventures Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>380738104</cusip>
			<value>2629</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1033000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1033000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Goldcorp Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>380956409</cusip>
			<value>58650</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3552278</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3552278</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Golden Star Resources Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38119T104</cusip>
			<value>1417</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1690433</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1690433</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Granite REIT</nameOfIssuer>
			<titleOfClass>REIT</titleOfClass>
			<cusip>387437114</cusip>
			<value>39</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1291</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1291</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HDFC Bank Ltd. ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>40415F101</cusip>
			<value>654</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>9100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEICO Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>422806109</cusip>
			<value>1729</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>25000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Halliburton Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>406216101</cusip>
			<value>740</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16503</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>16503</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hannon Armstrong Sustainable Infrastructure Capital Inc. REIT</nameOfIssuer>
			<titleOfClass>REIT</titleOfClass>
			<cusip>41068X100</cusip>
			<value>657</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28140</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>28140</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HealthEquity Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42226A107</cusip>
			<value>4877</value>
			<shrsOrPrnAmt>
				<sshPrnamt>128928</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>128928</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Hess Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42809H107</cusip>
			<value>1541</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28758</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>28758</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Honeywell International Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>438516106</cusip>
			<value>226745</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1945597</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1945597</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Huaneng Power International Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>443304100</cusip>
			<value>3</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4308</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>4308</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HudBay Minerals Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>443628102</cusip>
			<value>634</value>
			<shrsOrPrnAmt>
				<sshPrnamt>160381</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>160381</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Huntington Ingalls Industries Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>446413106</cusip>
			<value>21998</value>
			<shrsOrPrnAmt>
				<sshPrnamt>143432</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>143432</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Huntsman Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>447011107</cusip>
			<value>1937</value>
			<shrsOrPrnAmt>
				<sshPrnamt>119148</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>119148</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>IAMGOLD Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>450913108</cusip>
			<value>44</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10853</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>10853</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>IDEXX Laboratories Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45168D104</cusip>
			<value>1298</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11521</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>11521</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Imax Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45245E109</cusip>
			<value>4656</value>
			<shrsOrPrnAmt>
				<sshPrnamt>160796</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>160796</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Imperial Oil Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>453038408</cusip>
			<value>218</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6966</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>6966</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Intel Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>458140100</cusip>
			<value>16721</value>
			<shrsOrPrnAmt>
				<sshPrnamt>443185</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>443185</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>Intel Corp. 2.95% December 15, 2035</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>458140AD2</cusip>
			<value>179</value>
			<shrsOrPrnAmt>
				<sshPrnamt>130000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>130000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>International Business Machines Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>459200101</cusip>
			<value>65885</value>
			<shrsOrPrnAmt>
				<sshPrnamt>414940</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>414940</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Interxion Holding NV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>N47279109</cusip>
			<value>5781</value>
			<shrsOrPrnAmt>
				<sshPrnamt>159687</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>159687</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Intuitive Surgical Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46120E602</cusip>
			<value>35406</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48860</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>48860</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Invesco Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G491BT108</cusip>
			<value>49519</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1584127</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1584127</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ishares iBoxx $ High Yield Corporate Bond ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464288513</cusip>
			<value>3</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>35</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JPMorgan Chase &amp; Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46625H100</cusip>
			<value>135520</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2035929</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2035929</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Johnson &amp; Johnson</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>478160104</cusip>
			<value>24559</value>
			<shrsOrPrnAmt>
				<sshPrnamt>208017</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>208017</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Johnson Controls International PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G51502105</cusip>
			<value>983</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21148</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>21148</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Just Energy Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>48213W101</cusip>
			<value>6494</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1281838</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1281838</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kate Spade &amp; Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>485865109</cusip>
			<value>3246</value>
			<shrsOrPrnAmt>
				<sshPrnamt>189600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>189600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kinder Morgan Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49456B101</cusip>
			<value>1317</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56970</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>56970</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kinross Gold Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>496902404</cusip>
			<value>1213</value>
			<shrsOrPrnAmt>
				<sshPrnamt>287992</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>287992</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Klondex Mines Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>498696103</cusip>
			<value>2545</value>
			<shrsOrPrnAmt>
				<sshPrnamt>443000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>443000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kohl&apos;s Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>500255104</cusip>
			<value>9</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LG Display Co. Ltd. ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>50186V102</cusip>
			<value>1165</value>
			<shrsOrPrnAmt>
				<sshPrnamt>91669</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>91669</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LKQ Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501889208</cusip>
			<value>22567</value>
			<shrsOrPrnAmt>
				<sshPrnamt>636575</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>636575</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Laboratory Corp. of America Holdings</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>50540R409</cusip>
			<value>43023</value>
			<shrsOrPrnAmt>
				<sshPrnamt>313022</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>313022</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Las Vegas Sands Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>517834107</cusip>
			<value>23934</value>
			<shrsOrPrnAmt>
				<sshPrnamt>416197</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>416197</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lazard Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G54050102</cusip>
			<value>21037</value>
			<shrsOrPrnAmt>
				<sshPrnamt>578905</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>578905</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lennar Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>526057104</cusip>
			<value>40947</value>
			<shrsOrPrnAmt>
				<sshPrnamt>967354</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>967354</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Liberty Interactive LLC 3.50% January 15, 2031</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>530715AN1</cusip>
			<value>337</value>
			<shrsOrPrnAmt>
				<sshPrnamt>645108</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>645108</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Life Storage Inc. REIT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>53223X107</cusip>
			<value>373</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>4200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lincoln National Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>534187109</cusip>
			<value>26370</value>
			<shrsOrPrnAmt>
				<sshPrnamt>561493</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>561493</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lockheed Martin Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>539830109</cusip>
			<value>26088</value>
			<shrsOrPrnAmt>
				<sshPrnamt>108888</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>108888</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Louisiana-Pacific Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>546347105</cusip>
			<value>4889</value>
			<shrsOrPrnAmt>
				<sshPrnamt>259773</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>259773</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Lowe&apos;s Cos Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>548661107</cusip>
			<value>47985</value>
			<shrsOrPrnAmt>
				<sshPrnamt>664691</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>664691</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LyondellBasell Industries NV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>N53745100</cusip>
			<value>3486</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43237</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>43237</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MACOM Technology Solutions Holdings Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55405Y100</cusip>
			<value>1678</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39646</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>39646</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MAG Silver Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55903Q104</cusip>
			<value>4465</value>
			<shrsOrPrnAmt>
				<sshPrnamt>296407</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>296407</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Magellan Midstream Partners LP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>559080106</cusip>
			<value>22011</value>
			<shrsOrPrnAmt>
				<sshPrnamt>311338</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>311338</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Magna International Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>559222401</cusip>
			<value>17240</value>
			<shrsOrPrnAmt>
				<sshPrnamt>401826</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>401826</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Manulife Financial Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>56501R106</cusip>
			<value>83335</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5909966</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5909966</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Marine Harvest ASA ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>56824R205</cusip>
			<value>924</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>51600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MarketAxess Holdings Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>57060D108</cusip>
			<value>4032</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24366</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>24366</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Mattel Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>577081102</cusip>
			<value>6454</value>
			<shrsOrPrnAmt>
				<sshPrnamt>213273</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>213273</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>McDonald&apos;s Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>580135101</cusip>
			<value>25644</value>
			<shrsOrPrnAmt>
				<sshPrnamt>222425</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>222425</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Medpace Holdings</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58506Q109</cusip>
			<value>1492</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>50000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Medtronic Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G5960L103</cusip>
			<value>1249</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14462</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>14462</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MercadoLibre Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58733R102</cusip>
			<value>1575</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8517</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>8517</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Merck &amp; Co. Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58933Y105</cusip>
			<value>12</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MetLife Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>59156R108</cusip>
			<value>47014</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1058523</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1058523</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Methanex Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>59151K108</cusip>
			<value>23964</value>
			<shrsOrPrnAmt>
				<sshPrnamt>673025</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>673025</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Microchip Technology Inc. 1.625% February 15, 2025</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>595017AD6</cusip>
			<value>191</value>
			<shrsOrPrnAmt>
				<sshPrnamt>150000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>150000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Microsoft Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>594918104</cusip>
			<value>777</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>13500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Mitel Networks Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>60671Q104</cusip>
			<value>20</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2766</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2766</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Mobileye NV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>N51488117</cusip>
			<value>1078</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25345</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>25345</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Mondelez International Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>609207105</cusip>
			<value>105265</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2398896</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2398896</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Monsanto Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>61166W101</cusip>
			<value>1384</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13553</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>13553</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Monster Beverage Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>61174X109</cusip>
			<value>610</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4156</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>4156</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Moody&apos;s Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>615369105</cusip>
			<value>135443</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1251283</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1251283</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Motorola Solutions Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>620076307</cusip>
			<value>8</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Mountain Province Diamonds Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>62426E402</cusip>
			<value>3301</value>
			<shrsOrPrnAmt>
				<sshPrnamt>631456</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>631456</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NIKE Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>654106103</cusip>
			<value>901</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17119</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>17119</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NVIDIA Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>67066G104</cusip>
			<value>69704</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1017544</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1017544</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NXP Semiconductors NV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>N6596X109</cusip>
			<value>497</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4877</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>4877</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>National Retail Properties Inc. REIT</nameOfIssuer>
			<titleOfClass>REIT</titleOfClass>
			<cusip>637417106</cusip>
			<value>26015</value>
			<shrsOrPrnAmt>
				<sshPrnamt>511894</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>511894</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NetEase Inc. ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>64110W102</cusip>
			<value>24</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Nevsun Resources Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>64156L101</cusip>
			<value>2588</value>
			<shrsOrPrnAmt>
				<sshPrnamt>855662</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>855662</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>New Gold Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>644535106</cusip>
			<value>60</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13945</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>13945</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Newfield Exploration Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>651290108</cusip>
			<value>34389</value>
			<shrsOrPrnAmt>
				<sshPrnamt>791481</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>791481</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Newmont Mining Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>651639106</cusip>
			<value>9669</value>
			<shrsOrPrnAmt>
				<sshPrnamt>246200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>246200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Newmont Mining Corp. 1.625% July 15, 2017</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>651639AJ5</cusip>
			<value>7818</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7172000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>7172000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NextEra Energy Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>65339F101</cusip>
			<value>510</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4168</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>4168</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Nextera Energy Inc. 6.371% Convertible Preferred September 1, 2018</nameOfIssuer>
			<titleOfClass>CPFD</titleOfClass>
			<cusip>65339F846</cusip>
			<value>177</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Noble Energy Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655044105</cusip>
			<value>8889</value>
			<shrsOrPrnAmt>
				<sshPrnamt>248852</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>248852</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Norbord Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>65548P403</cusip>
			<value>658</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25612</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>25612</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Nordstrom Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655664100</cusip>
			<value>16334</value>
			<shrsOrPrnAmt>
				<sshPrnamt>315029</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>315029</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Norfolk Southern Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655844108</cusip>
			<value>7</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>74</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Northrop Grumman Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>666807102</cusip>
			<value>143266</value>
			<shrsOrPrnAmt>
				<sshPrnamt>669905</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>669905</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NovaGold Resources Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>66987E206</cusip>
			<value>37</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6661</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>6661</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Novellus Systems Inc. 2.625%  May 15, 2041</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>670008AD3</cusip>
			<value>139</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>50000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Nutanix Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>67059N108</cusip>
			<value>74</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ON Semiconductor Corp. 2.625% December 15, 2026</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>682189AH8</cusip>
			<value>83</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>70000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ONEOK Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>682680103</cusip>
			<value>12</value>
			<shrsOrPrnAmt>
				<sshPrnamt>238</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>238</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ONEOK Partners LP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>68268N103</cusip>
			<value>9</value>
			<shrsOrPrnAmt>
				<sshPrnamt>215</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>215</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Omnicom Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>681919106</cusip>
			<value>138979</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1635703</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1635703</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>On Assignment Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>682159108</cusip>
			<value>1977</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54516</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>54516</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Open Text Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>683715106</cusip>
			<value>18945</value>
			<shrsOrPrnAmt>
				<sshPrnamt>292641</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>292641</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Oracle Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>68389X105</cusip>
			<value>19074</value>
			<shrsOrPrnAmt>
				<sshPrnamt>485880</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>485880</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Osisko Gold Royalties Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>68827L101</cusip>
			<value>3348</value>
			<shrsOrPrnAmt>
				<sshPrnamt>305953</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>305953</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PDC Energy Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69327R101</cusip>
			<value>2681</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>40000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PPL Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69351T106</cusip>
			<value>8</value>
			<shrsOrPrnAmt>
				<sshPrnamt>222</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>222</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pan American Silver Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>697900108</cusip>
			<value>72</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4085</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>4085</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Parsley Energy Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>701877102</cusip>
			<value>681</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20334</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>20334</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pattern Energy Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70338P100</cusip>
			<value>726</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32312</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>32312</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pattern Energy Group Inc. 4.00% July 15, 2020</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>70338PAB6</cusip>
			<value>6026</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5985000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5985000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PayPal Holdings Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70450Y103</cusip>
			<value>23407</value>
			<shrsOrPrnAmt>
				<sshPrnamt>571462</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>571462</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Paychex Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>704326107</cusip>
			<value>33379</value>
			<shrsOrPrnAmt>
				<sshPrnamt>576955</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>576955</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pembina Pipeline Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>706327103</cusip>
			<value>7261</value>
			<shrsOrPrnAmt>
				<sshPrnamt>238403</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>238403</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pengrowth Energy Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70706P104</cusip>
			<value>1379</value>
			<shrsOrPrnAmt>
				<sshPrnamt>874742</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>874742</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pepsico Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>713448108</cusip>
			<value>17381</value>
			<shrsOrPrnAmt>
				<sshPrnamt>159883</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>159883</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Perrigo Co. PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G97822103</cusip>
			<value>16310</value>
			<shrsOrPrnAmt>
				<sshPrnamt>176749</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>176749</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Petroleo Brasileiro SA ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>71654V408</cusip>
			<value>758</value>
			<shrsOrPrnAmt>
				<sshPrnamt>81217</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>81217</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pfizer Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>717081103</cusip>
			<value>34652</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1023670</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1023670</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Philip Morris International Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>718172109</cusip>
			<value>189506</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1950195</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1950195</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Phillips 66 Partners LP</nameOfIssuer>
			<titleOfClass>LTD PART</titleOfClass>
			<cusip>718549207</cusip>
			<value>6</value>
			<shrsOrPrnAmt>
				<sshPrnamt>115</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>115</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Piedmont Natural Gas Co. Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>720186105</cusip>
			<value>9</value>
			<shrsOrPrnAmt>
				<sshPrnamt>155</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>155</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pinnacle West Capital Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>723484101</cusip>
			<value>4</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>55</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pioneer Natural Resources Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>723787107</cusip>
			<value>34821</value>
			<shrsOrPrnAmt>
				<sshPrnamt>187609</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>187609</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Plains All American Pipeline Limited Partnership</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>726503105</cusip>
			<value>5</value>
			<shrsOrPrnAmt>
				<sshPrnamt>145</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>145</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pool Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>73278L105</cusip>
			<value>5070</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53672</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>53672</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Potash Corp. of Saskatchewan Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>73755L107</cusip>
			<value>4637</value>
			<shrsOrPrnAmt>
				<sshPrnamt>285082</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>285082</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Praxair Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74005P104</cusip>
			<value>24</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Precision Drilling Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74022D308</cusip>
			<value>8461</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2026737</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2026737</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Priceline Group Inc. 0.90% September 15, 2021</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>741503AX4</cusip>
			<value>2765</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2576000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
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			<nameOfIssuer>Primerica Inc.</nameOfIssuer>
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				<None>0</None>
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			<nameOfIssuer>Primero Mining Corp.</nameOfIssuer>
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			<nameOfIssuer>Public Service Enterprise Group Inc.</nameOfIssuer>
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				<None>0</None>
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			<nameOfIssuer>QUALCOMM Inc.</nameOfIssuer>
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			<nameOfIssuer>Red Hat Inc. 0.25% October 1, 2019</nameOfIssuer>
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			<nameOfIssuer>Restaurant Brands International Inc.</nameOfIssuer>
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			<nameOfIssuer>Reynolds American Inc.</nameOfIssuer>
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			<nameOfIssuer>Ring Energy Inc.</nameOfIssuer>
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			<nameOfIssuer>Ritchie Bros Auctioneers Inc.</nameOfIssuer>
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			<nameOfIssuer>Rogers Communications Inc.</nameOfIssuer>
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			<nameOfIssuer>Roper Technologies Inc.</nameOfIssuer>
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				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1016432</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SPDR S&amp;P Technology Select Sector ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>81369Y803</cusip>
			<value>66197</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1386248</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1386248</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SPDR S&amp;P Utilities Select Sector ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>81369Y886</cusip>
			<value>22155</value>
			<shrsOrPrnAmt>
				<sshPrnamt>452500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>452500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sandstorm Gold Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>80013R206</cusip>
			<value>2238</value>
			<shrsOrPrnAmt>
				<sshPrnamt>443000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>443000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Schlumberger Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>806857108</cusip>
			<value>15971</value>
			<shrsOrPrnAmt>
				<sshPrnamt>203210</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>203210</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sealed Air Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>81211K100</cusip>
			<value>440</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9601</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>9601</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sempra Energy</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>816851109</cusip>
			<value>7</value>
			<shrsOrPrnAmt>
				<sshPrnamt>68</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>68</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ServiceNow Inc. 0.00% November 1, 2018</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>81762PAB8</cusip>
			<value>6597</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5420000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5420000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Shaw Communications Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>82028K200</cusip>
			<value>34105</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1667382</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>0</Shared>
				<None>1667382</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Shopify Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>82509L107</cusip>
			<value>6235</value>
			<shrsOrPrnAmt>
				<sshPrnamt>145345</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>145345</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Silicon Motion Technology Corp. ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>82706C108</cusip>
			<value>978</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18902</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>75608</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Silver Standard Resources Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>82823L106</cusip>
			<value>3029</value>
			<shrsOrPrnAmt>
				<sshPrnamt>251400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>251400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Silver Wheaton Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>828336107</cusip>
			<value>14773</value>
			<shrsOrPrnAmt>
				<sshPrnamt>547091</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>547091</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Skechers U.S.A. Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>830566105</cusip>
			<value>10252</value>
			<shrsOrPrnAmt>
				<sshPrnamt>447900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>447900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sony Corp. ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>835699307</cusip>
			<value>1643</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49496</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>495</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Southern Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>842587107</cusip>
			<value>3819</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74479</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>74479</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Southern Copper Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>84265V105</cusip>
			<value>11123</value>
			<shrsOrPrnAmt>
				<sshPrnamt>423017</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>423017</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Spectra Energy Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>847560109</cusip>
			<value>1356</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31727</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>31727</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Spectra Energy Partners LP</nameOfIssuer>
			<titleOfClass>LTD PART</titleOfClass>
			<cusip>84756N109</cusip>
			<value>8</value>
			<shrsOrPrnAmt>
				<sshPrnamt>178</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>178</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sprouts Farmers Market Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>85208M102</cusip>
			<value>4548</value>
			<shrsOrPrnAmt>
				<sshPrnamt>220368</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>220368</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Stantec Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>85472N109</cusip>
			<value>16514</value>
			<shrsOrPrnAmt>
				<sshPrnamt>703131</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>703131</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Stillwater Mining Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>86074Q102</cusip>
			<value>1789</value>
			<shrsOrPrnAmt>
				<sshPrnamt>133940</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>133940</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Stillwater Mining Co. 1.75% October 15, 2032</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>86074QAL6</cusip>
			<value>240</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>200000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Stryker Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>863667101</cusip>
			<value>372</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Sun Life Financial Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>866796105</cusip>
			<value>5916</value>
			<shrsOrPrnAmt>
				<sshPrnamt>181919</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>181919</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Suncor Energy Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>867224107</cusip>
			<value>118223</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4261157</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>4261157</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>T-Mobile US Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872590104</cusip>
			<value>82807</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1772877</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1772877</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TAL Education Group 2.50% May 15, 2019</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>874080AB0</cusip>
			<value>365</value>
			<shrsOrPrnAmt>
				<sshPrnamt>135000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>270000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TC PipeLines LP</nameOfIssuer>
			<titleOfClass>LTD PART</titleOfClass>
			<cusip>87233Q108</cusip>
			<value>8</value>
			<shrsOrPrnAmt>
				<sshPrnamt>144</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>144</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TELUS Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87971M103</cusip>
			<value>66927</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2029460</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2029460</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TOTAL SA ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>89151E109</cusip>
			<value>1385</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29038</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>29038</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Tahoe Resources Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>873868103</cusip>
			<value>43197</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3371104</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3371104</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Taiwan Semiconductor Manufacturing Co. Ltd. ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>874039100</cusip>
			<value>157</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5122</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5122</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Take-Two Interactive Software Inc. 1.00% July 1, 2018</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>874054AD1</cusip>
			<value>245</value>
			<shrsOrPrnAmt>
				<sshPrnamt>117000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>117000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Talend SA ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>874224207</cusip>
			<value>392</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>15000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Tanger Factory Outlet Centers Inc. REIT</nameOfIssuer>
			<titleOfClass>REIT</titleOfClass>
			<cusip>875465106</cusip>
			<value>8220</value>
			<shrsOrPrnAmt>
				<sshPrnamt>211104</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>211104</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>Target Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87612E106</cusip>
			<value>21</value>
			<shrsOrPrnAmt>
				<sshPrnamt>300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>Teck Resources Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>878742204</cusip>
			<value>23444</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1301288</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1301288</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>Tenaris SA ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>88031M109</cusip>
			<value>10879</value>
			<shrsOrPrnAmt>
				<sshPrnamt>383163</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>383163</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>Tesoro Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>881609101</cusip>
			<value>6</value>
			<shrsOrPrnAmt>
				<sshPrnamt>77</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>77</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>Tesoro Logistics LP</nameOfIssuer>
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			<cusip>88160T107</cusip>
			<value>7</value>
			<shrsOrPrnAmt>
				<sshPrnamt>149</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>149</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>Teva Pharmaceutical Industries Ltd. ADR</nameOfIssuer>
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			<cusip>881624209</cusip>
			<value>56737</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1233621</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1233621</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>The Charles Schwab Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>808513105</cusip>
			<value>46877</value>
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				<sshPrnamt>1485260</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1485260</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>The Clorox Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>189054109</cusip>
			<value>13</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>The Coca-Cola Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>191216100</cusip>
			<value>27967</value>
			<shrsOrPrnAmt>
				<sshPrnamt>661233</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>661233</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>The Descartes Systems Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>249906108</cusip>
			<value>9414</value>
			<shrsOrPrnAmt>
				<sshPrnamt>437737</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>437737</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>The Dun &amp; Bradstreet Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26483E100</cusip>
			<value>75405</value>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>552120</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>The Gap Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>364760108</cusip>
			<value>7</value>
			<shrsOrPrnAmt>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
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				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>The Hain Celestial Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>405217100</cusip>
			<value>332</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9332</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>9332</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>The Home Depot Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>437076102</cusip>
			<value>29650</value>
			<shrsOrPrnAmt>
				<sshPrnamt>230551</sshPrnamt>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>230551</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>The Kraft Heinz Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>500754106</cusip>
			<value>77886</value>
			<shrsOrPrnAmt>
				<sshPrnamt>870534</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>870534</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>The Kroger Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501044101</cusip>
			<value>1456</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>49100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>The Procter &amp; Gamble Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>742718109</cusip>
			<value>16051</value>
			<shrsOrPrnAmt>
				<sshPrnamt>178937</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>178937</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>The TJX Companies Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872540109</cusip>
			<value>41925</value>
			<shrsOrPrnAmt>
				<sshPrnamt>560964</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>560964</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>The WhiteWave Foods Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>966244105</cusip>
			<value>1417</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26056</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>26056</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>The Williams Cos. Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>969457100</cusip>
			<value>32107</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1045178</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1045178</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Thermo Fisher Scientific Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>883556102</cusip>
			<value>2884</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18139</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>18139</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Thomson Reuters Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>884903105</cusip>
			<value>12921</value>
			<shrsOrPrnAmt>
				<sshPrnamt>312664</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>312664</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Tiffany &amp; Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>886547108</cusip>
			<value>15615</value>
			<shrsOrPrnAmt>
				<sshPrnamt>215117</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>215117</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Toronto-Dominion Bank</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>891160509</cusip>
			<value>136410</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3074621</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3074621</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TransAlta Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>89346D107</cusip>
			<value>1779</value>
			<shrsOrPrnAmt>
				<sshPrnamt>400606</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>400606</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TransCanada Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>89353D107</cusip>
			<value>22503</value>
			<shrsOrPrnAmt>
				<sshPrnamt>474075</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>474075</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>Trex Co. Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>89531P105</cusip>
			<value>1282</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21844</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>21844</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Trimble Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>896239100</cusip>
			<value>468</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16408</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>16408</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Turquoise Hill Resources Ltd.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>900435108</cusip>
			<value>80</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27081</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>27081</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Tyler Technologies Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902252105</cusip>
			<value>6999</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>40900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>US Bancorp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902973304</cusip>
			<value>18269</value>
			<shrsOrPrnAmt>
				<sshPrnamt>426195</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>426195</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>US Concrete Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>90333L201</cusip>
			<value>4652</value>
			<shrsOrPrnAmt>
				<sshPrnamt>101042</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>101042</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ulta Salon Cosmetics and Fragrance Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>90384S303</cusip>
			<value>60580</value>
			<shrsOrPrnAmt>
				<sshPrnamt>254626</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>254626</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ultimate Software Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>90385D107</cusip>
			<value>6778</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33180</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>33180</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Union Pacific Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>907818108</cusip>
			<value>17</value>
			<shrsOrPrnAmt>
				<sshPrnamt>176</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>176</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>United Natural Foods Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>911163103</cusip>
			<value>151</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3768</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>3768</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>United Parcel Service Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>911312106</cusip>
			<value>22</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>United Technologies Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>913017109</cusip>
			<value>18835</value>
			<shrsOrPrnAmt>
				<sshPrnamt>185486</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>185486</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Unitedhealth Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91324P102</cusip>
			<value>82542</value>
			<shrsOrPrnAmt>
				<sshPrnamt>589753</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>589753</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Universal Display Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91347P105</cusip>
			<value>3306</value>
			<shrsOrPrnAmt>
				<sshPrnamt>59587</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>59587</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Unum Group</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91529Y106</cusip>
			<value>77071</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2183438</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2183438</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VMware Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>928563402</cusip>
			<value>15</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vale SA ADR</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>91912E105</cusip>
			<value>4604</value>
			<shrsOrPrnAmt>
				<sshPrnamt>837379</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>837379</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Valeant Pharmaceuticals International Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91911K102</cusip>
			<value>217</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8842</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>8842</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vaneck Vectors JP Morgan Emerging Markets Local Currency Bond ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>92189F494</cusip>
			<value>1265</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66328</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>66328</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vanguard FTSE All-World ex-US ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>922042775</cusip>
			<value>521</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11468</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>11468</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vanguard FTSE Emerging Markets ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
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			<value>611</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16243</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>16243</Sole>
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				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vanguard FTSE Europe ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>922042874</cusip>
			<value>12</value>
			<shrsOrPrnAmt>
				<sshPrnamt>248</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>248</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vanguard Intermediate-Term Corporate Bond ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>92206C870</cusip>
			<value>3107</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34701</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>34701</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vanguard Long-Term Corporate Bond ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>92206C813</cusip>
			<value>174</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1816</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1816</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vanguard Mega Cap Value ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>921910840</cusip>
			<value>4173</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66629</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>66629</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vanguard REIT ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>922908553</cusip>
			<value>1351</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15585</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>15585</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vanguard Total Bond Market ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>921937835</cusip>
			<value>10770</value>
			<shrsOrPrnAmt>
				<sshPrnamt>128078</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>128078</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vanguard Total International Bond ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>92203J407</cusip>
			<value>15</value>
			<shrsOrPrnAmt>
				<sshPrnamt>262</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>0</Sole>
				<Shared>0</Shared>
				<None>262</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vantiv Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92210H105</cusip>
			<value>30211</value>
			<shrsOrPrnAmt>
				<sshPrnamt>537032</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>537032</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vector Group Ltd. 1.75% April 15, 2020</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>92240MBC1</cusip>
			<value>228</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>200000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Verizon Communications Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92343V104</cusip>
			<value>23464</value>
			<shrsOrPrnAmt>
				<sshPrnamt>451653</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>451653</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vermilion Energy Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>923725105</cusip>
			<value>8264</value>
			<shrsOrPrnAmt>
				<sshPrnamt>213457</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>213457</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Virtu Financial Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>928254101</cusip>
			<value>374</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>25000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Visa Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92826C839</cusip>
			<value>8748</value>
			<shrsOrPrnAmt>
				<sshPrnamt>105840</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>105840</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Vulcan Materials Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>929160109</cusip>
			<value>76975</value>
			<shrsOrPrnAmt>
				<sshPrnamt>677001</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>677001</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WEC Energy Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92939U106</cusip>
			<value>306</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5115</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5115</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WPX Energy Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98212B103</cusip>
			<value>17548</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1330842</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1330842</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Wabtec Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>929740108</cusip>
			<value>105</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1285</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1285</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Wal-Mart Stores Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>931142103</cusip>
			<value>19906</value>
			<shrsOrPrnAmt>
				<sshPrnamt>276163</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>276163</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Waste Connections Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>94106B101</cusip>
			<value>1265</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16944</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>16944</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Waste Management Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>94106L109</cusip>
			<value>168564</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2644798</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2644798</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Wells Fargo &amp; Co. 7.50% Preferred</nameOfIssuer>
			<titleOfClass>CPFD</titleOfClass>
			<cusip>949746804</cusip>
			<value>136</value>
			<shrsOrPrnAmt>
				<sshPrnamt>105</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>105</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Wells Fargo &amp; Company</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>949746101</cusip>
			<value>17436</value>
			<shrsOrPrnAmt>
				<sshPrnamt>394002</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>394002</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Welltower Inc. 6.5% Preferred</nameOfIssuer>
			<titleOfClass>CPFD</titleOfClass>
			<cusip>95040Q203</cusip>
			<value>64</value>
			<shrsOrPrnAmt>
				<sshPrnamt>961</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>961</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Westar Energy Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>95709T100</cusip>
			<value>11</value>
			<shrsOrPrnAmt>
				<sshPrnamt>199</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>199</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Western Copper And Gold Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>95805V108</cusip>
			<value>114</value>
			<shrsOrPrnAmt>
				<sshPrnamt>135838</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>135838</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Western Digital Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>958102105</cusip>
			<value>79727</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1364181</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1364181</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Western Gas Partners LP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>958254104</cusip>
			<value>10</value>
			<shrsOrPrnAmt>
				<sshPrnamt>187</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>187</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Westrock Co.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>96145D105</cusip>
			<value>20919</value>
			<shrsOrPrnAmt>
				<sshPrnamt>431750</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>431750</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Williams Partners LP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>96949L105</cusip>
			<value>12</value>
			<shrsOrPrnAmt>
				<sshPrnamt>315</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>315</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Williams-Sonoma Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>969904101</cusip>
			<value>16924</value>
			<shrsOrPrnAmt>
				<sshPrnamt>331517</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>331517</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Wilshire US REIT ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>18383M472</cusip>
			<value>1703</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34810</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>34810</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WisdomTree Investments Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>97717P104</cusip>
			<value>3826</value>
			<shrsOrPrnAmt>
				<sshPrnamt>372064</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>372064</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Wpx Energy Inc. Preferred</nameOfIssuer>
			<titleOfClass>PFD</titleOfClass>
			<cusip>98212B202</cusip>
			<value>311</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>5000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XPO Logistics Inc. 4.50% October 1, 2017</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>983793AA8</cusip>
			<value>162</value>
			<shrsOrPrnAmt>
				<sshPrnamt>72000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>72000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Xcel Energy Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98389B100</cusip>
			<value>9</value>
			<shrsOrPrnAmt>
				<sshPrnamt>223</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>223</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Xplore Technologies Corp.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>983950700</cusip>
			<value>3</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1285</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1285</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Xylem Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98419M100</cusip>
			<value>2135</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40722</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>40722</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Yamana Gold Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98462Y100</cusip>
			<value>112</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25949</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>25949</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Zoe&apos;s Kitchen Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98979J109</cusip>
			<value>2653</value>
			<shrsOrPrnAmt>
				<sshPrnamt>119644</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>119644</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares Core MSCI EAFE ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>46432F842</cusip>
			<value>6599</value>
			<shrsOrPrnAmt>
				<sshPrnamt>119745</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>119745</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares Core U.S. Aggregate Bond ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464287226</cusip>
			<value>2125</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18914</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>18914</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares Edge MSCI Minimum Volatility EAFE ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>46429B689</cusip>
			<value>864</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12786</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>12786</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares Edge MSCI Minimum Volatility USA ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>46429B697</cusip>
			<value>1034</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22773</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>22773</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares Europe ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464287861</cusip>
			<value>14</value>
			<shrsOrPrnAmt>
				<sshPrnamt>357</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>357</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares Global Energy ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464287341</cusip>
			<value>1593</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48506</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>48506</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares Global Infrastructure ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464288372</cusip>
			<value>3302</value>
			<shrsOrPrnAmt>
				<sshPrnamt>79502</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>79502</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares Global Timber &amp; Forestry ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464288174</cusip>
			<value>381</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7608</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>7608</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares Gold Trust ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464285105</cusip>
			<value>1127</value>
			<shrsOrPrnAmt>
				<sshPrnamt>88845</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>88845</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares International Developed Real Estate ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464288489</cusip>
			<value>1680</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>55700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares International Treasury Bond ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464288117</cusip>
			<value>1853</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18463</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>18463</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares JP Morgan USD Emerging Markets Bond ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464288281</cusip>
			<value>1889</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16127</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>16127</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI China ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>46429B671</cusip>
			<value>71527</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1475303</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1475303</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI EAFE Growth ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464288885</cusip>
			<value>25928</value>
			<shrsOrPrnAmt>
				<sshPrnamt>379389</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>379389</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI Germany ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464286806</cusip>
			<value>54091</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2059776</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2059776</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI India ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>46429B598</cusip>
			<value>76</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2596</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>2596</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI Japan ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464286848</cusip>
			<value>103903</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8289282</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>8289282</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI Netherlands ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464286814</cusip>
			<value>44662</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1782811</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1782811</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI South Korea Capped ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464286772</cusip>
			<value>20769</value>
			<shrsOrPrnAmt>
				<sshPrnamt>357418</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>357418</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI Taiwan Index ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464286731</cusip>
			<value>27</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>1700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares MSCI United Kingdom ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>46434V548</cusip>
			<value>11873</value>
			<shrsOrPrnAmt>
				<sshPrnamt>750000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>750000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>iShares S&amp;P 500 ETF</nameOfIssuer>
			<titleOfClass>ETF</titleOfClass>
			<cusip>464287200</cusip>
			<value>66128</value>
			<shrsOrPrnAmt>
				<sshPrnamt>304127</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>304127</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>j2 Global Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>48123V102</cusip>
			<value>14577</value>
			<shrsOrPrnAmt>
				<sshPrnamt>218964</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>218964</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>salesforce.com Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>79466L302</cusip>
			<value>62428</value>
			<shrsOrPrnAmt>
				<sshPrnamt>875428</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>875428</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>salesforce.com Inc. 0.25% April 1, 2018</nameOfIssuer>
			<titleOfClass>CCB</titleOfClass>
			<cusip>79466LAD6</cusip>
			<value>8932</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7475000</sshPrnamt>
				<sshPrnamtType>PRN</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>NONE</otherManager>
			<votingAuthority>
				<Sole>7475000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
</informationTable>
