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April 5, 2016 Hello everyone, This is the monthly advisor update of the AlphaDelta Growth of Dividend Income Class (“ADGoDIC” or the “Fund”) from SciVest Capital Management Inc. (the sub-advisor to the Fund). Attached is the ADGoDIC Portfolio Disclosure Page. The front-side of the Portfolio Disclosure Page shows all of the current stock holdings of the ADGoDIC, as well as some descriptive, dividend and valuation characteristics for each portfolio holding – plus overall portfolio averages. The back-side of the Page shows a number of relevant pie charts depicting overall ADGoDIC portfolio exposures and characteristics such as sector, market capitalization, dividend yield and dividend growth “bucket” exposures. As shown on the front of the Portfolio Disclosure Page, across the Fund’s current holdings, the weighted average gross dividend yield is 3.6% per annum with impressive double-digit trailing 1, 3 and 5-year dividend growth rates (14.4%, 16.5% and 19.0%, respectively). The 3.6% average dividend yield compares to a portfolio weighted average forward earnings per share yield of 7.9% (219% dividend coverage) and forward cashflow yield of 11.0% (306% dividend coverage). Regarding valuation, the portfolio weighted average 12-month forward price-to-earnings ratio is 15.3x and the average 12-month forward price-to-cash-flow ratio is 10.4x. As always, the ADGoDIC portfolio is well diversified across sectors and industry groups with no sector allocation currently exceeding 17.4% (note that we break REITs out of the overall Financial Sector in the sector exposures pie chart, given their unique risk characteristics). In order of size, we have the following exposures to the Bloomberg defined Sectors (plus REITs): 17.4% Consumer Discretionary, 16.8% Financials, 11.6% Technology, 10.9% Industrials, 7.7% Health Care, 7.7% Energy, 6.6% Communications, 6.5% REITs, 6.3% Materials, 4.6% Consumer Staples, and 0% Utilities. On an individual stock holding basis, we currently hold a diversified portfolio of 74 equity positions. During the month of March, we initiated new positions in Ameriprise Financial Inc (AMP), Amtrust Financial Services (AFSI), Bunge Ltd (BG), Lam Research Corp (LRCX), Legg Mason Inc (LM) and Royal Caribbean Cruises Ltd (RCL). In addition to these new positions, we increased (by more than 0.5%) our existing position in Skyworks Solutions Inc (SWKS). During March, we eliminated our position in The Gap Inc (GPS) and Reliance Steel & Aluminum (RS) – both of which disappointed us in February by announcing unchanged dividends from the prior four quarters thereby missing their expected year-over-year opportunity to increase dividends. In addition, during March we decreased (by more than 0.5%) our positions in Diageo PLC (DEO) and Monsanto Co (MON). We have done more trades in the past several months than is our norm (which is very little). This is due to the recent market correction and high market volatility. In general, this volatility has resulted in a number of mid and large capitalization companies, with very good dividend growth potential, trading at substantial discounts to their historical valuation levels – while at the same time leaving many of the

AlphaDelta Growth of Dividend Income Class Monthly Commentary

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mega-capitalization “bond substitute” stocks trading at premiums to their historical valuation levels. We have recently been finding particular value within the Consumer Discretionary and (non-bank) Financials Sectors. Since our objective within the ADGoDIC is income/distribution growth, our monthly notes focus on growth of dividends amongst Fund holdings as opposed to short-term capital returns. In particular, each month we report those Fund holdings which declared dividend increases during the prior month, as well as those holdings we expect to declare dividend increases in the next month. Recall that one of our fundamental beliefs is that, if we can select stocks which consistently increase their dividends into the future, then price appreciation must eventually follow – that is, long-term price appreciation is a consequence of consistent earnings and dividend growth. Amongst our current ADGoDIC holdings, during the month of March 2016 we received two (2) declared dividend increases averaging an announced increase of 6.8% quarter-over-quarter (“QoQ”) and 6.8% year-over-year (“YoY”), relative to those already known at the end of the prior calendar month.

No. Company Name

Ticker Symbol

Current Ind Div Yld

(% p.a.)

QoQ Div Increase

(%)

YoY Div Increase

(%)

Relative to Expected

1 Gibson Energy Inc. GEI 7.5 3.1 3.1 2 Qualcomm Inc. QCOM 4.2 10.4 10.4 Average 5.9 6.8 6.8

Last month we introduced a new column to the dividend increase table denoting how we feel about each company’s dividend increase relative to our expectations (which are often stated in our prior month’s commentary). In general, a single indicates that the dividend increase met our expectations; a double indicates that the dividend increase was better than, or at the upper end of, our expectations; and a triple indicates that the dividend increase was significantly better than our expectations. On the other hand, a indicates that the dividend increase was marginally less than, or at the lower end of, our expectations and a indicates that the dividend increase was less than our expectations. Gibson Energy met the lower end of our expected dividend increase range. This is moderately reassuring given Gibson’s industry weakness (midstream energy storage and transportation) and its relatively high dividend yield. Qualcomm slightly exceeded our dividend increase expectation. This is a good and reassuring signal from the largest chipmaker and a dominant intellectual-property owner within the cellular-chip market. Its 10.4% dividend increase takes Qualcomm’s indicated dividend yield to 4.2%. Overall, this is very solid for a company that holds over 25% of its entire market capitalization in net cash and cash equivalents, and trades at 11.7x 12-month forward earnings-per-share (not adjusting for cash) – thereby justifying Qualcomm’s position within the top 5 holdings of our portfolio.

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During April 2016, we are expecting approximately eleven (11) dividend increase announcements from our current holdings:

No. Name Ticker Symbol

Current Ind Div Yld

(% p.a.)

Est. Announce

Date

Est. Div Increase

(%) 1 Ameriprise Financial Inc AMP 2.9 Apr 20 9-15 2 Gilead Sciences Inc. GILD 1.8 Apr 27 10-20 3 Invesco Ltd IVZ 3.5 Apr 27 7-11 4 Johnson & Johnson JNJ 2.8 Apr 25 5-7 5 Lam Research Corp LRCX 1.5 Apr 26 10-20 6 Legg Mason Inc LM 2.4 Apr 25 10-15 7 Metlife Inc MET 3.4 Apr 19 6-11 8 Principal Financial Group PFG 3.8 Apr 28 5-8 9 Proctor & Gamble Co PG 3.2 Apr 12 3-7

10 Whirlpool Corp WHR 2.0 Apr 12 9-15 11 Xilinx Inc XLNX 2.6 Apr 4 3-7

There are number of expected dividend announcements this month that will be interesting. For example, we are expecting two of the most well-known “dividend aristocrats” – Johnson & Johnson and Proctor & Gamble – to announce their annual dividend increases. Both firms have increase their dividends for more than 50 consecutive years (53 and 59 years, respectively) – thus, it is very unlikely that either disappoints this year. We are expecting an increase of 5% to 7% from Johnson & Johnson and 3% to 7% from Proctor & Gamble. We are expecting a bit more from Johnson & Johnson than Proctor & Gamble, although both firms have seen slower earnings growth of late primarily due to the strong US dollar. We are also expecting a large number of non-bank financial service firms to announce dividend increases – Ameriprise Financial, Invesco, Legg Mason, Metlife and Principal Financial Group. While these announcements span several non-bank financial industries, they will be interesting as a group due to the stock price weakness financial stocks have suffered over the past year. We are finding very good value within the non-bank financial service industries, and this group of dividend announcements will provide some evidence regarding whether our optimism is warranted. Our lower yielding positions are often amongst the most interesting dividend announcements, as we generally expect much higher dividend growth from them (due to their lower yield), and we can periodically see large upside surprises to dividend growth from them. This month we expect announcements from Gilead Sciences, Lam Research and Whirlpool. While Whirlpool’s business continues to grow nicely, both Gilead Sciences and Lam Research have issues that increase the downside risk to their dividend announcements. In particular, Gilead Sciences has attracted a lot of negative press related to its very expensive hepatitis drugs – this introduces forward earning risks that may be reflected in its dividend announcement. On the other hand, Lam Research is in the process of merging with a former SciVest holding named KLA-Tencor Corp (KLAC) – this introduces short-term dividend increase risk as the company conserves financial resources for the merger. Always remember our primary message: “Growing income”, as opposed to “fixed income”, is the only means of maintaining the purchasing power of your (or your client’s) income stream over the years to come.

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If you would like more information regarding the AlphaDelta Growth of Dividend Income Class and its current portfolio (including the up-to-date presentation piece), please feel free to contact me directly or alternatively contact AlphaDelta Management Corp. ( www.AlphaDelta.com ). Thank you for your continued interest in the Fund, John J. Schmitz, Ph.D., CFA

No. Ticker List Company Name Portfolio Country BICS Sector BICS Industry Market Div Yld Ind Div PS Ind Div PS Ind Div PS Ind Div PS Ind Div PS Ind Div PS SciVest 12‐Mth 12‐Mth 12‐Mth 12‐MthType Weight of Cap Indicated 1 Year 1 Year 3 Year 3 Year 5 Year 5 Year GDI Forward Forward Forward Forward

Domicile ($B CAD) (% p.a.) Growth Time Growth Time Growth Time Score EPS Yld Cashflow Yld P/E P/CF96.1% (% p.a.) Series (% p.a.) Series (% p.a.) Series (% p.a.) (% p.a.)

1 JNJ US JOHNSON & JOHNSON 2.2% US Health Care Large Pharma 388 2.8 7.1 7.1 6.8 20.5 6.1 7.1 16.4 14.02 WHR US WHIRLPOOL CORP 2.1% US Consumer Discretionary Home Improvement 18 2.0 20.0 21.6 15.9 33.5 8.4 11.4 11.9 8.83 CSCO US CISCO SYSTEMS INC 2.1% US Technology Communications Equipment 186 3.7 23.8 22.9 n/a 25.3 8.3 9.6 12.1 10.44 QCOM US QUALCOMM INC 2.1% US Technology Semiconductor Devices 99 4.1 10.4 28.5 22.8 40.0 8.6 9.8 11.7 10.25 IVZ US INVESCO LTD 2.0% US Financials Investment Management 17 3.5 8.0 16.1 19.7 36.3 8.2 8.7 12.2 11.66 HAR US HARMAN INTERNATIONAL 2.0% US Consumer Discretionary Auto Parts 8 1.6 6.1 32.6 69.5 31.1 8.1 n/a 12.4 n/a7 BA US BOEING CO/THE 2.0% US Industrials Aircraft & Parts 108 3.4 19.8 31.0 21.0 34.6 6.9 9.4 14.6 10.68 IP US INTERNATIONAL PAPER CO 2.0% US Materials Containers & Packaging 22 4.3 10.0 13.6 18.6 25.9 8.3 16.8 12.0 5.99 MG CA MAGNA INTERNATIONAL INC 2.0% CA Consumer Discretionary Auto Parts 22 2.4 13.6 22.1 14.9 33.0 12.4 17.7 8.1 5.710 ABBV US ABBVIE INC 1.9% US Health Care Large Pharma 120 4.0 11.8 12.5 n/a 26.7 9.2 9.7 10.9 10.311 MET US METLIFE INC 1.9% US Financials Life Insurance 63 3.4 7.1 26.6 15.2 34.3 13.2 n/a 7.6 n/a12 PRU US PRUDENTIAL FINANCIAL INC 1.9% US Financials Life Insurance 42 3.9 20.7 20.5 19.5 40.0 13.7 n/a 7.3 n/a13 STX US SEAGATE TECHNOLOGY 1.9% US Technology Computer Hardware & Storage 13 7.3 16.7 18.4 n/a 33.3 10.1 17.5 9.9 5.714 GM US GENERAL MOTORS CO 1.9% US Consumer Discretionary Automobiles 63 4.8 26.7 n/a n/a 20.0 17.6 28.9 5.7 3.515 HON US HONEYWELL INTERNATIONAL INC 1.8% US Industrials Comml & Res Bldg Equip & Sys 111 2.1 15.0 13.2 12.3 23.5 6.0 7.0 16.6 14.216 UPS US UNITED PARCEL SERVICE‐CL B 1.8% US Industrials Courier Services 121 3.0 6.8 8.0 8.4 24.1 5.6 8.6 17.9 11.717 EAT US BRINKER INTERNATIONAL INC 1.8% US Consumer Discretionary Restaurants 3 2.8 14.3 17.0 18.0 39.4 8.4 12.3 11.9 8.118 ETN US EATON CORP PLC 1.7% US Industrials Electrical Power Equipment 37 3.6 3.6 10.7 10.9 27.3 6.9 9.9 14.5 10.119 PFE US PFIZER INC 1.7% US Health Care Large Pharma 238 4.0 7.1 7.7 8.4 27.7 7.9 9.7 12.7 10.320 CIX CA CI FINANCIAL CORP 1.7% CA Financials Investment Management 8 4.4 4.8 9.0 8.0 29.4 7.2 7.3 13.9 13.821 T CA TELUS CORP 1.7% CA Communications Telecom Carriers 25 4.1 10.0 11.2 10.9 33.6 6.3 14.0 16.0 7.122 TROW US T ROWE PRICE GROUP INC 1.7% US Financials Investment Management 24 2.9 3.8 12.4 11.7 27.6 6.2 7.0 16.2 14.323 VIAB US VIACOM INC‐CLASS B 1.7% US Communications Entertainment Content 22 3.9 21.2 13.3 21.7 27.4 12.9 15.4 7.8 6.524 ADI US ANALOG DEVICES INC 1.6% US Technology Semiconductor Devices 24 2.8 5.0 7.3 13.8 30.4 5.1 5.9 19.6 16.925 BBY US BEST BUY CO INC 1.5% US Consumer Discretionary Consumer Elec & Applc Stores 14 3.4 21.7 18.1 13.3 37.9 8.9 16.5 11.2 6.026 SWKS US SKYWORKS SOLUTIONS INC 1.5% US Technology Semiconductor Devices 19 1.3 100.0 n/a n/a 15.9 8.0 10.2 12.5 9.827 JPM US JPMORGAN CHASE & CO 1.5% US Financials Diversified Banks 283 3.0 10.0 13.6 54.5 27.0 9.9 9.2 10.1 10.928 CMI US CUMMINS INC 1.5% US Industrials Commercial Vehicles 24 3.5 25.0 24.9 30.0 26.4 7.1 10.3 14.0 9.729 IPL CA INTER PIPELINE LTD 1.5% CA Energy Midstream ‐ Oil & Gas 9 5.8 6.1 12.0 10.2 37.4 5.5 8.7 18.3 11.530 DOW US DOW CHEMICAL CO/THE 1.5% US Materials Basic & Diversified Chemicals 74 3.6 9.5 12.9 25.1 28.0 7.0 11.1 14.4 9.031 DFT US DUPONT FABROS TECHNOLOGY 1.5% US Financials REIT 4 4.6 11.9 33.0 31.4 32.3 3.6 8.4 28.0 11.932 DEO ADR DIAGEO PLC‐SPONSORED ADR 1.5% GB Consumer Staples Beverages 88 3.1 3.3 7.1 7.2 14.6 5.1 5.6 19.8 17.833 MSFT US MICROSOFT CORP 1.5% US Technology Infrastructure Software 568 2.6 16.1 16.1 17.6 37.2 5.4 7.2 18.5 13.834 UNP US UNION PACIFIC CORP 1.4% US Industrials Rail Freight 88 2.8 0.0 16.8 23.7 27.6 6.9 11.1 14.5 9.035 JCI US JOHNSON CONTROLS INC 1.4% US Consumer Discretionary Auto Parts 33 3.0 11.5 15.1 12.6 35.7 10.1 13.0 10.0 7.736 ENB CA ENBRIDGE INC 1.4% CA Energy Midstream ‐ Oil & Gas 47 4.2 14.0 18.9 16.7 35.2 4.6 11.7 21.9 8.537 BCE CA BCE INC 1.4% CA Communications Telecom Carriers 51 4.6 5.0 5.4 6.7 25.1 6.0 13.3 16.7 7.538 NHI US NATL HEALTH INVESTORS INC 1.3% US Financials REIT 3 5.4 5.9 9.0 7.9 31.2 5.3 6.7 18.8 15.039 DFS US DISCOVER FINANCIAL SERVICES 1.2% US Financials Consumer Finance 27 2.2 16.7 26.0 69.5 25.6 11.1 10.6 9.0 9.440 MON US MONSANTO CO 1.2% US Materials Agricultural Chemicals 50 2.5 10.2 12.9 14.0 30.4 6.0 7.4 16.8 13.641 PFG US PRINCIPAL FINANCIAL GROUP 1.2% US Financials Life Insurance 15 3.9 5.6 18.2 22.5 31.0 10.9 n/a 9.1 n/a42 ENF CA ENBRIDGE INCOME FUND HOLDING 1.2% CA Energy Midstream ‐ Oil & Gas 3 6.3 21.0 11.8 10.1 38.5 6.3 8.5 16.0 11.843 OHI US OMEGA HEALTHCARE INVESTORS 1.2% US Financials REIT 9 6.5 7.5 8.2 9.0 33.3 5.4 9.0 18.5 11.144 LVS US LAS VEGAS SANDS CORP 1.1% US Consumer Discretionary Casinos & Gaming 53 5.6 10.8 27.2 n/a 23.8 4.9 8.0 20.5 12.545 RDS/B ADR ROYAL DUTCH SHELL‐SPON ADR‐B 1.1% NL Energy Integrated Oils 250 7.6 0.0 3.0 2.3 23.9 5.4 19.6 18.5 5.146 GEI CA GIBSON ENERGY INC 1.1% CA Energy Midstream ‐ Oil & Gas 2 7.5 3.1 8.3 n/a 20.6 1.6 13.3 64.2 7.547 LM US LEGG MASON INC 1.0% US Financials Investment Management 5 2.3 25.0 22.1 27.2 27.3 13.4 n/a 7.5 n/a48 KO US COCA‐COLA CO/THE 1.0% US Consumer Staples Beverages 261 3.0 6.1 7.7 8.3 18.4 4.2 5.0 23.6 19.849 CCI US CROWN CASTLE INTL CORP 1.0% US Financials REIT 38 4.1 7.9 n/a n/a 13.9 1.5 5.5 67.3 18.150 TWX US TIME WARNER INC 1.0% US Communications Entertainment Content 75 2.2 15.0 11.9 11.4 28.7 7.6 8.7 13.1 11.551 VLO US VALERO ENERGY CORP 1.0% US Energy Refining & Marketing 39 3.7 50.0 44.2 64.4 27.2 11.2 18.1 8.9 5.552 AMGN US AMGEN INC 1.0% US Health Care Biotech 147 2.7 26.6 28.6 n/a 23.9 7.4 8.8 13.4 11.453 AMP US AMERIPRISE FINANCIAL INC 0.9% US Financials Wealth Management 21 2.8 15.5 14.2 30.1 38.6 10.7 n/a 9.3 n/a54 M US MACY'S INC 0.9% US Consumer Discretionary Department Stores 18 3.3 15.2 21.6 48.4 32.3 8.7 16.8 11.4 5.955 GILD US GILEAD SCIENCES INC 0.9% US Health Care Biotech 162 1.9 0.0 n/a n/a 1.9 13.4 15.3 7.5 6.556 RCL US ROYAL CARIBBEAN CRUISES LTD 0.9% US Consumer Discretionary Cruise Lines 23 1.8 25.0 46.2 n/a 29.6 7.7 13.4 13.0 7.557 PII US POLARIS INDUSTRIES INC 0.9% US Consumer Discretionary Recreational Vehicles 8 2.2 3.8 9.4 19.6 22.7 6.7 9.9 15.0 10.158 BG US BUNGE LTD 0.9% US Consumer Staples Agricultural Products Whslrs 10 2.7 11.8 12.1 10.6 28.7 9.5 15.5 10.5 6.559 SJR/B CA SHAW COMMUNICATIONS INC‐B 0.9% CA Communications Cable & Satellite 12 4.6 0.0 5.1 5.2 13.3 6.3 14.0 15.9 7.160 GME US GAMESTOP CORP‐CLASS A 0.9% US Consumer Discretionary Other Spec Retail ‐ Discr 4 4.7 2.8 10.4 n/a 21.8 12.9 16.0 7.8 6.261 VTR US VENTAS INC 0.8% US Financials REIT 28 5.0 0.0 2.9 4.9 12.3 2.4 7.4 42.2 13.562 MMM US 3M CO 0.8% US Materials Containers & Packaging 131 2.7 8.3 20.5 15.1 29.0 5.0 6.7 19.8 14.863 SPG US SIMON PROPERTY GROUP INC 0.8% US Financials REIT 85 3.1 14.3 11.6 14.9 33.4 2.8 4.9 35.2 20.264 PG US PROCTER & GAMBLE CO/THE 0.7% US Consumer Staples Household Products 289 3.2 3.0 5.7 6.6 19.2 4.8 6.3 20.6 15.865 MFC CA MANULIFE FINANCIAL CORP 0.6% CA Financials Life Insurance 36 4.0 19.4 12.5 7.3 28.1 10.5 n/a 9.5 n/a66 XLNX US XILINX INC 0.6% US Technology Semiconductor Devices 16 2.6 6.9 12.1 14.1 28.9 4.7 5.9 21.1 17.067 AFSI US AMTRUST FINANCIAL SERVICES 0.6% US Financials P&C Insurance 6 2.3 20.0 48.9 35.3 29.7 11.9 n/a 8.4 n/a68 GE US GENERAL ELECTRIC CO 0.5% US Industrials Electrical Power Equipment 384 2.9 0.0 6.6 10.4 18.6 4.9 6.4 20.2 15.769 LYB US LYONDELLBASELL INDU‐CL A 0.5% US Materials Basic & Diversified Chemicals 48 3.6 11.4 24.9 n/a 16.8 11.2 13.7 8.9 7.370 PEP US PEPSICO INC 0.5% US Consumer Staples Beverages 195 2.7 7.3 9.3 7.9 21.5 4.7 6.5 21.5 15.371 TD CA TORONTO‐DOMINION BANK 0.5% CA Financials Banks 104 3.9 7.8 10.7 12.5 33.7 8.7 9.4 11.5 10.672 ALA CA ALTAGAS LTD 0.4% CA Energy Midstream ‐ Oil & Gas 5 5.9 11.9 11.2 8.4 31.9 3.7 11.3 27.1 8.973 LRCX US LAM RESEARCH CORP 0.4% US Technology Semiconductor Mfg 17 1.5 66.7 n/a n/a 12.4 8.2 9.4 12.2 10.674 PKG US PACKAGING CORP OF AMERICA 0.4% US Materials Containers & Packaging 7 3.6 0.0 20.7 22.4 21.8 7.3 12.9 13.7 7.8Invested Portfolio Equal Weighted Average 1.3% 76.6 3.61 13.4 16.4 18.6 27.4 7.7 10.8 16.2 10.6Invested Portfolio Weighted Average 1.5% 77.9 3.62 14.4 16.6 19.0 28.5 7.9 11.0 15.3 10.4

*  Data as of date = March 31, 2016**  All data is captured just prior to publication.  Data is sourced and derived from Bloomberg and SciVest Capital Management Inc.  "BICS Sector" and "BICS Industry" definitions are from the Bloomberg Industry Classification System.  "Market Cap" is the current market capitalization of equity.  "Div Yld Indicated" is the most recent indicated annualized dividend yield.  "Ind Div PS" is the annualized gross amount of the most recent indicated dividend per share.  The "Ind Div PS Times Series" charts show the annualize indicated dividend per share on a monthly basis as of each calendar month‐end for the stated time period.  The "SciVest GDI Score" is SciVest Capital Management Inc.'s proprietary Growth of Dividend Income Score.  The SciVest GoD Score ranges from 0 to 40 (higher is better) and captures the magnitude of the combination of current dividend yield and dividend per share growth for each company stock (i.e., the higher the SciVest GoD Score, the higher the companies relative combined dividend yield and dividend growth).  "12‐Mth Forward P/E" is the ratio of current stock price to Bloomberg's blended 12‐month forward aggregate analyst estimate of earnings per share from continuing operations, while "12‐Mth Forward EPS Yld" is the inverse of this ratio.  "12‐Mth Forward P/CF" is the ratio of current stock price to Bloomberg's blended 12‐month forward aggregate analyst estimate of cash flow per share, while "12‐Mth Forward Cashflow Yld" is the inverse of this ratio.  "Portfolio Equal Weighted Average" is the simple arithmetic mean of each data item across all portfolio holdings, and "Portfolio Weighted Average" is the weighted average of each data item where each data point within the average is weighted by the percentage held of each portfolio holding (not including cash).  Within the each average calculation, missing values are assigned the average of the remaining data items.

AlphaDelta Growth of Dividend Income ClassPortfolio Holdings and Characteristics

Cash; 3.9%

n/a; 5.7%

0% to 5% p.a; 1.9%5% to 10% p.a.; 20.0%

10% to 15% p.a.; 25.9%

15% to 20% p.a.; 14.2%

20% to 30% p.a.; 20.5%

>30% p.a.; 8.0%

3 YEAR DIVIDEND GROWTH BUCKETS

Cash; 3.9%

Small Cap (<$2B); 0.0%

Mid Cap ($2B to $10B); 17.4%

Large Cap ($10B to $100B); 55.2%

Mega Cap (>$100B); 23.6%

MARKET CAP BUCKETS (CA$)

AlphaDelta Growth of Dividend Income ClassPortfolio Holdings and Characteristics

Cash; 3.9%

0% to 2% p.a.; 7.9%

2% to 3% p.a.; 29.8%

3% to 4% p.a.; 28.3%

4% to 5% p.a.; 18.7%

5% to 6% p.a.; 5.2%

>6% p.a.; 6.4%

DIVIDEND YIELD BUCKETS

Cash; 4.4%

n/a; 19.2%

0% to 5% p.a; 6.8%

5% to 10% p.a.; 26.8%

10% to 15% p.a.; 27.5% 15% to

20% p.a.; 7.5%

20% to 30% p.a.; 5.8%

>30% p.a.; 2.0%

10 YEAR DIVIDEND GROWTH BUCKETS

Cash; 3.9%

n/a; 17.1%

0% to 5% p.a; 1.9%

5% to 10% p.a.; 16.9%

10% to 15% p.a.; 21.6%

15% to 20% p.a.; 16.3% 20% to 30% p.a.;

11.3%

>30% p.a.; 11.1%

5 YEAR DIVIDEND GROWTH BUCKETS

Cash & n/a; 3.9%

GDI Score = 0 to 10; 0.9%GDI Score = 10 to

20; 8.9%

GDI Score = 20 to 30; 44.9%

GDI Score = 30 to 40; 41.4%

SCIVEST GDI SCORE BUCKETS

BICS INDUSTRY GROUP

Cash; 3.9%United States; 79.3%

Canada; 14.3%

Europe; 2.6%Asia; 0.0%

COUNTRY OF DOMICILE

Cash; 3.9%

Communications; 6.6%Consumer

Discretionary; 17.4%

Consumer Staples; 4.6%

Energy; 7.7%

Financials; 16.8%

REITs; 6.5%

Health Care; 7.7%

Industrials; 10.9%

Materials; 6.3%

Technology; 11.6%

Utilities; 0.0%

BICS SECTOR

Average = $77.9 Billion Average = 3.62% Average = 28.5

Average = 16.6% Average = 19.0% Average = 12.0%