Your range of investment options - aga.ca · PDF fileAfter retirement 2055 2051 - 2010 2006 - 2015 2011 - 2020 2016 - 2025 2021 - 2030 2026 - 2035 2031 - 2040 2036 - 2045 2041 - 2050

Group SavinGSand retirement

Your range of investment options

inalco.com

SR

M28

7A-1

6

After retirement

2055

2051 -

2010

2006 -

2015

2011 -

2020

2016 -

2025

2021 -

2030

2026 -

2035

2031 -

2040

2036 -

2045

2041 -

2050

2046 -

Before retirement

Investment funds 2005

and -

Composition of portfolios on January 22, 2016 (in percent)

Target retirement period

2056

and +Short Term Bond 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.75 11.25 16.40 20.88 21.25

Bond 20.23 20.23 20.56 22.16 23.99 26.39 29.68 30.38 32.69 34.20 32.55 33.25

Core Plus Bond (PIMCO) 13.50 13.50 13.73 14.77 16.00 17.60 19.80 20.25 21.80 22.80 21.71 22.19

Global Fixed Income (PIMCO) 11.25 11.25 10.69 10.57 10.00 11.00 10.50 10.13 9.26 8.61 8.35 8.29

TOTAL - Income Funds 44.98 44.98 84.9883.4982.0175.0067.5159.9854.9949.9947.5044.98Dividend 7.22 7.22 7.22 6.89 6.56 5.91 5.25 4.26 3.28 2.36 2.17 1.97

Canadian Focused Equity (Pyramis) 7.22 7.22 7.22 6.89 6.56 5.91 5.25 4.27 3.28 2.36 2.17 1.97

Canadian Equity Low Volatility (TD) 2.41 2.41 2.41 2.30 2.19 1.97 1.75 2.13 2.19 1.97 2.17 1.97

Canadian Equity Growth 4.81 4.81 4.81 4.59 4.38 3.94 3.50 2.13 1.09 0.39 0.00 0.00

Cdn Equity Small Cap (Montrusco) 2.41 2.41 2.41 2.30 2.19 1.97 1.75 1.42 1.09 0.79 0.72 0.66

TOTAL - Canadian Equity Funds 24.07 24.07 6.577.237.8710.9314.2117.5019.7021.8822.9724.07Global Equity Index ACWI (BlackRock) 6.02 6.02 6.02 5.74 5.47 4.92 4.38 3.56 2.73 1.97 1.81 1.64

Global Equity (Hexavest) 6.02 6.02 6.26 6.20 6.13 5.71 5.25 4.41 3.50 2.60 2.45 2.30

Global Equity (Templeton) 7.22 7.22 6.98 6.43 5.91 5.12 4.38 3.41 2.52 1.73 1.52 1.31

Global Equity Small Cap (DeutscheAWM)

1.20 1.20 1.20 1.15 1.09 0.98 0.88 0.71 0.55 0.39 0.36 0.33

Global Equity Small Cap (Mawer) 1.20 1.20 1.20 1.15 1.09 0.98 0.88 0.71 0.55 0.39 0.36 0.33

3

40 years +

44.98%

24.07%

24.07%

6.88%

35 years

44.98%

24.07%

24.07%

6.88%

Income Funds

Canadian Equity Funds

Foreign Equity Funds

Alternative/Specialty Funds

RETIREMENTRETIREMENT

82.01%

7.87%

7.87%

2.25%

5 years

75.00%

10.93%

10.94%

3.13%

10 years

67.51%

14.21%

14.22%

4.06%

15 years

59.98%

17.50%

17.52%

5.00%

20 years

54.99%

19.70%

19.68%

5.63%

25 years

49.99%

21.88%

21.88%

6.25%

30 years

47.50%

22.97%

22.97%

6.56%

RETIREMENT

82.01%

7.87%

7.87%

2.25%

Income Funds




Evolution of the composition of portfoliosAttitude Portfolios are designed to maximize the potential growth of investments when retirement is far off and to gradually reduce the risk as retirementapproaches. The asset mix of portfolios evolves automatically to become more prudent over time.

The diagrams below illustrate the evolution of the target composition of CONSERVATIVE profile portfolios over time, for the period before retirementand once retirement has begun.

YEARS

5 years

83.49%

7.23%

7.22%

2.06%

10 years

84.98%

6.57%

6.57%

1.88%

AFTER RETIREMENT

YEARS

HIGHER LOWER

BEFORE RETIREMENT

The asset mixes shown in this section are those of December 31, 2015. See section below for the current composition of portfolios.

CONSERVATIVE ProfileAttitude Portfolios

11

The composition of each portfolio is changed every 3 months so that it gradually reaches the next target asset mix (refer to the section above for the targetallocations of the portfolios over time).

The following table shows the current composition of CONSERVATIVE profile portfolios for each target retirement period.

Composition of portfolios on January 22, 2016

Growth potential and risk level

After retirement

2055

2051 -

2010

2006 -

2015

2011 -

2020

2016 -

2025

2021 -

2030

2026 -

2035

2031 -

2040

2036 -

2045

2041 -

2050

2046 -

Before retirement


and -



2056

and +

Emerging Markets (Aberdeen) 2.41 2.41 2.41 2.30 2.19 1.97 1.75 1.42 1.09 0.79 0.72 0.66

TOTAL - Foreign Equity Funds 24.07 24.07 6.577.227.8710.9414.2217.5219.6821.8822.9724.07Balanced-Risk Allocation (Invesco) 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.81 0.94 0.90 1.03 0.94

Global Infrastructure (Lazard) 1.72 1.72 1.72 1.64 1.56 1.41 1.00 0.61 0.31 0.11 0.00 0.00

Global Direct Real Estate - PTF (UBS) 5.16 5.16 5.16 4.92 4.69 4.22 3.50 2.64 1.88 1.24 1.03 0.94

TOTAL - Alternative/Specialty Funds 6.88 6.88 1.882.062.253.134.065.005.636.256.566.88

After retirement

2055

2051 -

2010

2006 -

2015

2011 -

2020

2016 -

2025

2021 -

2030

2026 -

2035

2031 -

2040

2036 -

2045

2041 -

2050

2046 -

Before retirement


and -



2056


Bond 14.62 14.62 14.87 16.34 18.00 20.37 23.51 25.31 28.33 30.63 29.43 30.33












1.48 1.48 1.48 1.42 1.37 1.26 1.15 0.96 0.77 0.58 0.54 0.49


3

40 years +

32.50%

29.53%

29.53%

8.44%

35 years

32.50%

29.53%

29.53%

8.44%

Income Funds





73.48%

11.60%

11.60%

3.32%

5 years

65.00%

15.30%

15.32%

4.38%

10 years

56.26%

19.13%

19.14%

5.47%

15 years

47.50%

22.97%

22.97%

6.56%

20 years

42.47%

25.17%

25.17%

7.19%

25 years

37.50%

27.34%

27.35%

7.81%

30 years

35.02%

28.43%

28.43%

8.12%

RETIREMENT

73.48%

11.60%

11.60%

3.32%

Income Funds





The diagrams below illustrate the evolution of the target composition of MODERATE profile portfolios over time, for the period before retirement andonce retirement has begun.

YEARS

5 years

75.49%

10.73%

10.72%

3.06%

10 years

77.50%

9.84%

9.84%

2.82%

AFTER RETIREMENT

YEARS

HIGHER LOWER

BEFORE RETIREMENT


MODERATE ProfileAttitude Portfolios

11


The following table shows the current composition of MODERATE profile portfolios for each target retirement period.



After retirement

2055

2051 -

2010

2006 -

2015

2011 -

2020

2016 -

2025

2021 -

2030

2026 -

2035

2031 -

2040

2036 -

2045

2041 -

2050

2046 -

Before retirement


and -



2056

and +






After retirement

2055

2051 -

2010

2006 -

2015

2011 -

2020

2016 -

2025

2021 -

2030

2026 -

2035

2031 -

2040

2036 -

2045

2041 -

2050

2046 -

Before retirement


and -



2056


Bond 9.00 9.00 9.15 10.48 12.02 14.40 17.33 20.23 23.98 27.09 26.31 27.38












1.75 1.75 1.75 1.70 1.64 1.53 1.42 1.20 0.98 0.77 0.71 0.66


3

40 years +

20.00%

35.00%

35.00%

10.00%

35 years

20.00%

35.00%

35.00%

10.00%

Income Funds





64.99%

15.31%

15.32%

4.38%

5 years

55.00%

19.69%

19.68%

5.63%

10 years

44.98%

24.07%

24.07%

6.88%

15 years

35.01%

28.43%

28.43%

8.13%

20 years

30.00%

30.63%

30.62%

8.75%

25 years

25.02%

32.80%

32.81%

9.37%

30 years

22.49%

33.90%

33.92%

9.69%

RETIREMENT

64.99%

15.31%

15.32%

4.38%

Income Funds





The diagrams below illustrate the evolution of the target composition of BALANCED profile portfolios over time, for the period before retirement andonce retirement has begun.

YEARS

5 years

67.49%

14.23%

14.22%

4.06%

10 years

69.98%

13.13%

13.13%

3.76%

AFTER RETIREMENT

YEARS

HIGHER LOWER

BEFORE RETIREMENT


BALANCED ProfileAttitude Portfolios

11


The following table shows the current composition of BALANCED profile portfolios for each target retirement period.



After retirement

2055

2051 -

2010

2006 -

2015

2011 -

2020

2016 -

2025

2021 -

2030

2026 -

2035

2031 -

2040

2036 -

2045

2041 -

2050

2046 -

Before retirement


and -



2056

and +






After retirement

2055

2051 -

2010

2006 -

2015

2011 -

2020

2016 -

2025

2021 -

2030

2026 -

2035

2031 -

2040

2036 -

2045

2041 -

2050

2046 -

Before retirement


and -



2056


Bond 5.63 5.63 5.73 6.98 8.38 10.79 13.61 17.09 21.15 24.60 24.17 25.44












1.91 1.91 1.91 1.86 1.81 1.70 1.59 1.36 1.13 0.90 0.83 0.77


3

40 years +

12.51%

38.29%

38.27%

10.93%

35 years

12.51%

38.29%

38.27%

10.93%

Income Funds





59.00%

17.93%

17.94%

5.13%

5 years

48.51%

22.53%

22.53%

6.43%

10 years

37.99%

27.13%

27.13%

7.75%

15 years

27.50%

31.71%

31.73%

9.06%

20 years

22.49%

33.90%

33.92%

9.69%

25 years

17.48%

36.10%

36.11%

10.31%

30 years

14.99%

37.19%

37.19%

10.63%

RETIREMENT

59.00%

17.93%

17.94%

5.13%

Income Funds





The diagrams below illustrate the evolution of the target composition of GROWTH profile portfolios over time, for the period before retirement and onceretirement has begun.

YEARS

5 years

61.99%

16.63%

16.62%

4.76%

10 years

65.00%

15.30%

15.32%

4.38%

AFTER RETIREMENT

YEARS

HIGHER LOWER

BEFORE RETIREMENT


GROWTH ProfileAttitude Portfolios

11


The following table shows the current composition of GROWTH profile portfolios for each target retirement period.



After retirement

2055

2051 -

2010

2006 -

2015

2011 -

2020

2016 -

2025

2021 -

2030

2026 -

2035

2031 -

2040

2036 -

2045

2041 -

2050

2046 -

Before retirement


and -



2056

and +






After retirement

2055

2051 -

2010

2006 -

2015

2011 -

2020

2016 -

2025

2021 -

2030

2026 -

2035

2031 -

2040

2036 -

2045

2041 -

2050

2046 -

Before retirement


and -



2056


Bond 2.23 2.23 2.26 3.50 4.79 7.18 9.90 13.92 18.28 22.09 22.03 23.47












2.08 2.08 2.08 2.02 1.97 1.86 1.75 1.51 1.27 1.03 0.95 0.88


3

40 years +

4.98%

41.57%

41.57%

11.88%

35 years

4.98%

41.57%

41.57%

11.88%

Income Funds





52.99%

20.57%

20.57%

5.87%

5 years

41.98%

25.38%

25.38%

7.26%

10 years

30.97%

30.20%

30.20%

8.63%

15 years

20.00%

35.00%

35.00%

10.00%

20 years

14.98%

37.20%

37.19%

10.63%

25 years

9.99%

39.38%

39.38%

11.25%

30 years

7.50%

40.47%

40.47%

11.56%

RETIREMENT

52.99%

20.57%

20.57%

5.87%

Income Funds





The diagrams below illustrate the evolution of the target composition of AGGRESSIVE profile portfolios over time, for the period before retirement andonce retirement has begun.

YEARS

5 years

56.50%

19.03%

19.03%

5.44%

10 years

59.98%

17.50%

17.52%

5.00%

AFTER RETIREMENT

YEARS

HIGHER LOWER

BEFORE RETIREMENT


AGGRESSIVE ProfileAttitude Portfolios

11


The following table shows the current composition of AGGRESSIVE profile portfolios for each target retirement period.



After retirement

2055

2051 -

2010

2006 -

2015

2011 -

2020

2016 -

2025

2021 -

2030

2026 -

2035

2031 -

2040

2036 -

2045

2041 -

2050

2046 -

Before retirement


and -



2056

and +






Returns as at December 31, 2015 GROUP SAVINGS AND RETIREMENT

Contract

GUARANTEED INVESTMENTS

1 year 2 years 3 years 4 years 5 years 6 years 7 years 8 years 9 years 10 years

Interest rates applicable to your contract (%)

Contract 13077-001

GROUP

1.2 1.35 0.55 0.55 0.55 0.55 0.3 1.05 1.1 1.5 13077 -001

InvestmentAdvisor

Simple returns Compound annual returns3

%% %%% %YTD3 months1 month 1 year 3 years 5 years 10 years

$

Net assetsin millions

2Reference

Index

Gross returns (%)

Contract 13077-001

%

1

CONSERVATIVE PORTFOLIOS GROUP

Conservative - Attitude 2001-2005 4.0 4.0 1.5 0.7 - 4.5 4.1 INP9545












Conservative - Attitude 2061-2065 5.6 5.6 2.8 0.3 - 7.4 9.5 INPA005

MODERATE PORTFOLIOS GROUP

Moderate - Attitude 2001-2005 4.0 4.0 1.7 0.7 - 4.7 5.0 INP9552












Moderate - Attitude 2061-2065 6.0 6.0 3.2 0.2 - 7.8 10.6 INPA004

BALANCED PORTFOLIOS GROUP

Balanced - Attitude 2001-2005 3.9 3.9 1.9 0.6 - 5.3 6.0 INP9559







InvestmentAdvisor



$


2Reference

Index

Gross returns (%)

Contract 13077-001

%

1








Balanced - Attitude 2061-2065 6.4 6.4 3.5 0.1 - 8.3 11.8 INPA003

GROWTH PORTFOLIOS GROUP

Growth - Attitude 2001-2005 3.8 3.8 2.0 0.6 - 5.7 6.9 INP9566












Growth - Attitude 2061-2065 6.6 6.6 3.7 0.1 - 8.7 12.9 INPA002

AGGRESSIVE PORTFOLIOS GROUP

Aggressive - Attitude 2001-2005 3.8 3.8 2.2 0.6 - 5.9 7.7 INP9573












Aggressive - Attitude 2061-2065 6.9 6.9 3.9 0.0 - 9.1 14.0 INPA001

INCOME FUNDS GROUP

Industrial Alliance020 Bond 3.7 3.7 1.1 1.1 201.6 5.3 5.1 3.8 IN021

Industrial Alliance070 Money Market 0.7 0.7 0.1 0.0 21.3 1.8 1.0 0.9 IN018

Industrial Alliance170 Short Term Bond 3.0 3.0 0.6 0.5 22.9 3.9 3.2 2.7 IN019

PIMCO893 Global Fixed Income (PIMCO) 3.4 3.4 0.7 (0.8) 11.6 - - 6.1* IN124

CANADIAN EQUITY FUNDS GROUP

Industrial Alliance160 Dividend (1.8) (1.8) 2.6 (2.0) 60.7 7.1 6.9 8.9 IN026

QV Investors Inc.541 Canadian Equity Small Cap (QV) (4.2) (4.2) 2.0 (3.0) 22.1 9.4* 12.6 13.8 IN037

TD753 Canadian Equity Index (TD) (8.2) (8.2) (1.4) (3.1) 12.0 4.4* 2.3* 4.7 IN024


InvestmentAdvisor



$


2Reference

Index

Gross returns (%)

Contract 13077-001

%

1


Pyramis871 Canadian Focused Equity (Pyramis) 2.2 2.2 (1.0) (2.9) 16.0 8.5* 8.9* 14.0 IN031

FOREIGN EQUITY FUNDS GROUP

Aberdeen120 Global Equity (Aberdeen) 5.2 5.2 5.7 0.5 11.9 - 10.4* 12.3* IN008

Mawer130 Global Equity Small Cap (Mawer) 30.7 30.7 8.7 3.7 16.0 - 24.6* 30.7* IN079

Templeton465 Global Equity (Templeton) 15.5 15.5 8.5 0.7 26.5 7.3 15.1 22.7 IN008

The above returns are gross returns and do not take into account management and administration fees. Past performance is not a guarantee of future returns.

%

10 years

%

5 years

%

3 years

%

1 yearYTD

%%%

1 month 3 months

Compound annual returnsSimple returns3

TOTAL RETURN GROUP

Benchmark indexes - Gross returns (%)

Contract 13077-001

GROUPTOTAL RETURN

Money market index

0.0 0.6 0.1 IN018 0.6 0.8 0.9 1.7 FTSE TMX Canada 91 Day T-Bill Index

Bonds indexes

0.5 2.6 0.5 IN019 2.6 2.5 2.8 3.9 FTSE TMX Canada Short Term Bond Index

1.1 3.5 1.0 IN021 3.5 3.6 4.8 5.0 FTSE TMX Canada Universe Bond Index

(0.3) 1.1 (0.6) IN124 1.1 2.2 - - Barclays U.S. Aggregate Index (CAD Hedged)

Equity indexes

2.0 18.3 9.0 IN008 18.3 22.4 14.9 6.8 MSCI - World Index (Can. $) (net ret.)

(3.1) (8.3) (1.4) IN024 (8.3) 4.6 2.3 4.4 S&P/TSX Composite Index

(3.1) (7.8) (1.7) IN026 (7.8) 5.5 2.9 4.7 S&P/TSX 60 Index

(3.1) (8.3) (1.4) IN031 (8.3) 4.6 2.3 4.4 S&P/TSX Capped Composite Index

(1.6) (13.3) 1.1 IN037 (13.3) (3.1) (5.7) 0.0 S&P/TSX SmallCap Index

1.2 19.4 7.8 IN079 19.4 23.7 15.4 8.3 MSCI - World Small Cap Index (Can. $)

Composite indexes (portfolios) 4

0.7 3.5 1.1 INP9545 3.5 3.7 4.2 - IN021, IN006, IN079, INDC152, IN026, IN019, IN008, INDC491, IN037, IN031, IN107, IN024, IN124, IN104, IN097

0.6 3.2 1.2 INP9000 3.2 4.4 4.7 - IN021, IN006, IN079, INDC152, IN026, IN019, IN024, IN008, INDC491, IN037, INDC757, IN031, IN107, IN124, IN104, IN097




0.4 3.1 1.8 INP9002 3.1 6.7 6.0 - IN021, IN006, IN079, INDC152, IN026, IN024, IN008, INDC491, IN037, INDC757, IN031, IN107, IN124, IN104, IN097

0.3 3.3 1.9 INP9548 3.3 7.1 6.2 - IN021, IN006, IN079, INDC152, IN026, IN024, IN008, IN037, INDC757, IN031, IN107, IN124, IN104, IN097

0.2 3.8 2.0 INP9003 3.8 7.5 6.4 - IN021, IN006, IN079, INDC152, IN026, IN024, IN008, IN037, INDC757, IN031, IN107, IN124, IN097


%

10 years

%

5 years

%

3 years

%

1 yearYTD

%%%

1 month 3 months


TOTAL RETURN GROUP


Contract 13077-001

GROUPTOTAL RETURN





0.2 3.7 2.1 INPA005 3.7 8.3 6.6 - IN021, IN006, IN079, INDC152, IN026, IN024, IN008, IN037, INDC757, IN031, IN107, IN124, IN097













0.0 3.7 2.4 INPA004 3.7 9.3 7.0 - IN021, IN006, IN079, INDC152, IN026, IN024, IN008, IN037, INDC757, IN031, IN107, IN124, IN097









%

10 years

%

5 years

%

3 years

%

1 yearYTD

%%%

1 month 3 months


TOTAL RETURN GROUP


Contract 13077-001

GROUPTOTAL RETURN


(0.1) 3.9 2.7 INP9563 3.9 9.7 7.2 - IN021, IN006, IN079, INDC152, IN026, IN024, IN008, IN037, INDC757, IN031, IN107, IN124, IN097




(0.1) 3.8 2.8 INPA003 3.8 10.2 7.3 - IN021, IN006, IN079, INDC152, IN026, IN024, IN008, IN037, INDC757, IN031, IN107, IN124, IN097







(0.1) 3.2 2.7 INP9569 3.2 9.7 7.2 - IN021, IN006, IN079, INDC152, IN026, IN024, IN008, IN037, INDC757, IN031, IN107, IN124, IN104, IN097












(0.1) 2.6 2.9 INP9022 2.6 10.0 7.2 - IN021, IN006, IN079, INDC152, IN026, IN024, IN008, INDC491, IN037, INDC757, IN031, IN107, IN124, IN104, IN097


Annual gross returns (%)

Contract 13077-001

RETURNS BENCHMARK INDEXESReference

Index 2015 2014 2013 2012 2011 2015 2014 2013 2012 2011

1

CONSERVATIVE PORTFOLIOS GROUP

Conservative - Attitude 2001-2005 INP9545 4.0 6.8 1.4 5.2 5.2 3.5 6.8 0.9 3.7 6.1











Conservative - Attitude 2056-2060 INP9339 5.6 9.3 13.7 9.3 (0.2) 3.7 10.4 11.0 7.0 1.4

Conservative - Attitude 2061-2065 INPA005 5.6 9.3 13.7 9.3 (0.5) 3.7 10.4 11.0 7.0 1.4


Moderate - Attitude 2001-2005 INP9552 4.0 7.2 4.0 6.2 2.4 3.3 7.3 3.0 4.5 4.2







Moderate - Attitude 2036-2040 INP9008 5.9 9.3 14.1 9.5 (0.3) 3.8 10.4 11.3 7.1 1.4

%

10 years

%

5 years

%

3 years

%

1 yearYTD

%%%

1 month 3 months


TOTAL RETURN GROUP


Contract 13077-001

GROUPTOTAL RETURN

(0.2) 3.1 2.9 INP9576 3.1 10.6 7.5 - IN021, IN006, IN079, INDC152, IN026, IN024, IN008, IN037, INDC757, IN031, IN107, IN124, IN104, IN097









Contract 13077-001


Index 2015 2014 2013 2012 2011 2015 2014 2013 2012 2011

1





Moderate - Attitude 2056-2060 INP9340 6.0 9.4 16.8 10.1 (2.1) 3.8 10.7 13.6 7.6 (0.1)

Moderate - Attitude 2061-2065 INPA004 6.0 9.4 16.8 10.1 (2.2) 3.7 10.7 13.6 7.7 (0.3)


Balanced - Attitude 2001-2005 INP9559 3.9 7.5 6.6 7.2 1.5 3.0 7.9 5.2 5.3 3.2





Balanced - Attitude 2026-2030 INP9012 4.9 9.1 15.3 10.0 (0.5) 2.9 10.2 12.2 7.6 1.0

Balanced - Attitude 2031-2035 INP9562 5.5 9.3 16.3 10.1 (0.2) 3.3 10.5 13.1 7.6 0.9

Balanced - Attitude 2036-2040 INP9013 6.2 9.4 17.2 10.3 (2.2) 3.9 10.7 13.9 7.7 (0.2)





Balanced - Attitude 2061-2065 INPA003 6.4 9.5 20.0 10.9 (4.0) 3.8 11.0 16.2 8.4 (2.0)

GROWTH PORTFOLIOS GROUP

Growth - Attitude 2001-2005 INP9566 3.8 7.9 9.3 8.2 (0.4) 2.7 8.4 7.4 6.1 1.7





Growth - Attitude 2026-2030 INP9017 5.0 9.2 18.4 10.8 (2.4) 2.8 10.5 14.7 8.2 (0.6)







Growth - Attitude 2061-2065 INPA002 6.6 9.7 23.2 11.7 (5.7) 3.8 11.3 18.8 9.0 (3.7)


Aggressive - Attitude 2001-2005 INP9573 3.8 8.1 11.3 9.1 (2.2) 2.6 8.7 9.1 6.8 0.1

Aggressive - Attitude 2006-2010 INP9020 3.4 8.7 13.9 10.0 (2.1) 2.1 9.6 11.1 7.5 0.0

Aggressive - Attitude 2011-2015 INP9574 3.4 9.1 15.2 10.6 (2.0) 2.0 10.0 12.1 7.9 (0.2)








Contract 13077-001


Index 2015 2014 2013 2012 2011 2015 2014 2013 2012 2011

1






Aggressive - Attitude 2061-2065 INPA001 6.9 9.8 26.4 12.4 (7.5) 3.8 11.7 21.5 9.7 (5.5)

INCOME FUNDS GROUP

020 Bond IN021 3.7 8.9 (1.0) 4.2 10.0 3.5 8.8 (1.2) 3.6 9.7

070 Money Market IN018 0.7 1.0 1.0 1.0 1.1 0.6 0.9 1.0 1.0 1.0

170 Short Term Bond IN019 3.0 3.5 1.7 2.7 5.0 2.6 3.1 1.7 2.0 4.7

893 Global Fixed Income (PIMCO) IN124 3.4 7.7 7.3* - - 1.1 6.9 (1.3) - -


160 Dividend IN026 (1.8) 11.8 17.6 9.9 (1.5) (7.8) 12.3 13.3 8.1 (9.1)

541 Canadian Equity Small Cap (QV) IN037 (4.2) 9.0 41.3 23.5 (0.5) (13.3) (2.3) 7.6 (2.2) (16.4)

753 Canadian Equity Index (TD) IN024 (8.2) 10.6 12.9 7.0 (8.6)* (8.3) 10.6 13.0 7.2 (8.7)

871 Canadian Focused Equity (Pyramis) IN031 2.2 12.4 28.9 10.1* - (8.3) 10.6 13.0 7.2 (8.7)

FOREIGN EQUITY FUNDS GROUP

120 Global Equity (Aberdeen) IN008 5.2 10.6* 21.6* - - 18.3 14.5 35.4 13.3 (3.4)

130 Global Equity Small Cap (Mawer) IN079 30.7 14.0* 50.0* - - 19.4 11.6 42.1 15.6 (6.6)

465 Global Equity (Templeton) IN008 15.5 10.3 44.9 19.2 (8.1) 18.3 14.5 35.4 13.3 (3.4)

The above returns are gross returns and do not take into account management and administration fees. Past performance is not a guarantee of future returns.

1 Generally speaking, benchmark indices represent the funds well in terms of their investment structure, i.e.:

2 Total net assets of the fund including individual and group contracts.

3 The rates of return for the period are non-annualized.

4 Each portfolio index is made up of a series of benchmark sub-indexes. These sub-indexes are linked to the portfolios' underlying funds. The weighting reflects the asset allocation of the portfolios' underlying funds. The asset allocation varies periodically. The current allocation appears in Your Range of Investment Options available in CyberClient.

* Simulation of past returns as if the fund had been in effect for these periods.

Index funds: simulation of past returns from the return of the index that the fund aims to reproduce.

Asset allocation funds: simulation of past returns based on the return of the funds included in the asset allocation fund and on an asset allocation decision.

Some portfolio returns are simulated as if they were in effect during the periods shown above.

- In terms of duration and the medium- and long-term allocations in federal, provincial and corporate bonds for the Bonds Fund.

- In terms of exposure to Canadian large cap stocks for the Dividends Fund.

- In terms of allocations in the various asset category types for the Balanced Moderate Index (BlackRock) Fund.

- In terms of exposure to corporate stocks from North American and international markets for the Global Equity Fund.

- In terms of allocations in the various asset category types for the Moderate Attitude Portfolio.

You can find more information on our investment funds by consulting our secure website at www.inalco.com (click on «Cyberclient»).

Group savings and retirement

Industrial AllianceQuarterly Update | Group Investment FundsThird quarter, ending September 30, 2015

Past performance is not a guarantee of future returns.

Money Market

Commentary

The Fund seeks to maintain excellent protection of capital and a high level of liquidity, while maximizing the total return. It is composed essentially of quality securities, with a maximum term of one year, guaranteed by the provinces, governments and some companies. The management style focuses on interest rate forecasts which are based on careful analysis of the economic outlook.

Asset mix of the FundAs at September 30, 2015

Fund Code: 070Inception date: September 1991

Investment Advisor

Christian Pouliot, MBA, CFALouis Gagnon, CFAFrançois Lalande, CFA

Objectives of the Fund• Oriented on short term revenues

• Priority placed on capital protection

• Conforms to a short term investment horizon

Investment styleInterest rate forecasts

Investment limits

Short term 100%

Risk level

Very Low to Moderate low Low moderate Moderate to high High

Characteristics of the FundAs at September 30, 2015

Average rating

- Money Market securities R3 Mid

Average term to maturity 84 days

Yield at market value 0.4%

Treasury bills99.47%

Cash and Cash Equivalents0.53%

Treasury bills99.47%

Cash and Cash Equivalents0.53%

Performance - Gross returnsReturns before deduction of management and administration fees

Compound returns SinceAs at September 30, 2015 YTD 1 month 3 months 6 months 1 year 2 years 3 years 4 years 5 years 10 years Sept. 1991

Fund 0.6 0.0 0.2 0.3 0.8 0.9 1.0 1.0 1.0 1.9 3.5Benchmark index1 0.5 0.0 0.1 0.3 0.8 0.8 0.9 0.9 0.9 1.8

Annual returnsAs at December 31 14 13 12 11 10 09 08 07 06 05

Fund 1.0 1.0 1.0 1.1 0.6 0.5 3.5 4.6 4.1 2.8Benchmark index1 0.9 1.0 1.0 1.0 0.5 0.6 3.3 4.4 4.0 2.6

1 FTSE TMX Canada 91 Day T-Bill Index.

Total net assets: $339.5 million




Short Term Bonds

Commentary

The Fund is managed according to a management style primarily based on securities selection and issuers. The manager also integrates interest rate anticipation in his management process. The fund is characterized by a short and medium term maturity, which minimizes the impact of interest rate fluctuations while generating a good income.


Fund Code: 170Inception date: January 1998

Investment Advisor

François Lalande, CFALouis Gagnon, CFAChristian Pouliot, MBA, CFA

Objectives of the Fund• Oriented toward current income

• Moderate long term capital growth

• Conforms to a medium to long term investment horizon


Investment limits Min. Max.

Short term 0% 20%Bonds 80% 100%

The average duration of the portfolio must be situated between 50% and 200% of the duration of the FTSE TMX Canada Short Term Bond Index.

Risk level


Corporates53.26%

Provinces18.26%

Canada16.69%

Municipalities and Subsidized6.20%

Short term and other5.56%Mortgage-backed securities

0.03%

Corporates53.26%

Provinces18.26%

Canada16.69%


Short term and other5.56%Mortgage-backed securities

0.03%


Bond and Short term Portfolios

Average rating - Bonds A+

Average term 2.8 years

Modified duration 2.6 years

Average coupon 3.0%



Compound returns SinceAs at September 30, 2015 YTD 1 month 3 months 6 months 1 year 2 years 3 years 4 years 5 years 10 years Jan. 1998

Fund 2.4 (0.2) 0.1 0.4 3.4 3.4 2.7 2.7 3.0 3.8 4.8Benchmark index1 2.1 (0.2) 0.0 0.2 3.0 3.0 2.4 2.4 2.7 3.8


Fund 3.5 1.7 2.7 5.0 4.4 6.2 4.7 3.7 4.0 3.3Benchmark index1 3.1 1.7 2.0 4.7 3.6 4.5 8.6 4.1 4.0 2.4

1 FTSE TMX Canada Short Term Bond Index.





Bonds

Commentary

The Fund’s approach in bond management is based on interest-rate movement forecasts, derived from analyses of macroeconomic trends. The management of the duration and the yield curve positioning are the main sources of added value compared to the benchmark. Sector and security selection also contribute to add value. On occasion, the manager may add securities denominated in foreign currencies, real return bonds or other special situations likely to improve the portfolio’s return or to reduce volatility.


Fund Code: 020Inception date: May 1977

Investment Advisor

François Lalande, CFALouis Gagnon, CFAChristian Pouliot, MBA, CFA







The average duration of the portfolio must be situated between 50% and 150% of the duration of the FTSE TMX Canada Short Term Bond Index.

Risk level


Corporates43.79%

Provinces33.12%

Canada14.63%

Short term and other4.92%


Investment Funds0.32%

Corporates43.79%

Provinces33.12%

Canada14.63%



Investment Funds0.32%



Average rating - Bonds A+



Average coupon 3.6%



Compound returns SinceAs at September 30, 2015 YTD 1 month 3 months 6 months 1 year 2 years 3 years 4 years 5 years 10 years May 1977

Fund 2.6 (0.2) 0.1 (1.5) 5.3 6.1 3.6 4.2 4.7 5.2 8.8Benchmark index1 2.5 (0.3) 0.1 (1.6) 5.3 5.8 3.4 3.9 4.5 5.0


Fund 8.9 (1.0) 4.2 10.0 6.4 5.3 8.0 2.7 4.6 6.7Benchmark index1 8.8 (1.2) 3.6 9.7 6.7 5.4 6.4 3.7 4.1 6.5

1 FTSE TMX Canada Universe Bond Index.

Total net assets: $2,656.0 million




Bonds (PIMCO)

Commentary

PIMCO is a “core-plus” manager. Their goal is to add value by consistently outperforming the benchmark by tapping traditional and non-traditional sectors of the fixed income markets, while maintaining overall risk similar to that of the benchmark.

Risk factors to which PIMCO is overweight or underweight include: duration; yield curve; sectors of the Canadian bond market, including government bonds, provincials and corporate bonds; and credit quality. In addition, PIMCO allocates a small portion of its CorePLUS portfolios to out-of-index risk factors comprised of the firm’s best ideas from around the global bond markets, which include international fixed income, currency, Canadian and non-Canadian inflation-linked bonds, Canadian and non-Canadian high yield, emerging markets, liquidity and volatility strategies.

Asset mix of the underlying fundAs at September 30, 2015

Fund Code: 860Inception date: November 2009

Investment Advisor

Management team composed of several managers




Investment styleMultiple strategies

Investment limits

Industrial Alliance Fund

Min. Max.

Short term 0% 20%Units of the underlying fund 80% 100%

Underlying fund

Min. Max.


Risk level

Underlying Fund�PIMCO Canada Canadian CorePLUS Bond Trust


Provinces43.00%


Canada18.00%

Corporates17.00%

Foreign bonds2.00%

Provinces43.00%


Canada18.00%

Corporates17.00%

Foreign bonds2.00%

Characteristics of the underlying fundAs at September 30, 2015


Average rating - Bonds AA-



Average coupon 3.7%

Performance of the Industrial Alliance Fund - Gross returnsReturns before deduction of management and administration fees

Compound returns SinceAs at September 30, 2015 YTD 1 month 3 months 6 months 1 year 2 years 3 years 4 years 5 years 10 years Nov. 2009

Fund 2.6 (0.5) 0.0 (1.6) 5.0 5.8 3.7 4.9 4.5 - 5.2Benchmark index1 2.5 (0.3) 0.1 (1.6) 5.3 5.8 3.4 3.9 4.5 -


Fund 8.2 (0.5) 6.4 6.1 8.7 13.5* 0.7* 4.6* - -Benchmark index1 8.8 (1.2) 3.6 9.7 6.7 5.4 6.4 3.7 - -

1 FTSE TMX Canada Universe Bond Index.* Simulation of past returns as if the Fund had been in effect for these periods.

Asset mix of the Industrial Alliance FundAs at September 30, 2015 Distribution

Short term 0.06%Units of the underlying fund 99.94%

100.00%





Global Fixed Income (PIMCO)

Commentary

The Fund aims to optimize current income while respecting the principle of capital conservation and prudent investment management. Long term capital appreciation is a secondary objective. The Fund invests primarily in a diversified portfolio of fixed income securities that are not denominated in Canadian dollars and with a variety of maturities.

The Fund can invest up to 50% of its total assets in high-yield securities (“high risk bonds”) that have been rated or, if they are not rated, in securities of comparable quality. The Fund can invest up to 20% of its total assets in securities and instruments that are economically linked to the emerging markets. There is no limit as to the number of securities denominated in currencies in which it can invest. As a general rule, the Fund limits it exposure to currencies (of securities denominated in currencies other than the Canadian dollar) to 10% of its total assets. The Fund can also resort to targeted derivatives, such as options, futures and forward contracts, and swaps. The average duration of this Fund’s portfolio usually varies between zero and eight years.


Fund Code: 893Inception date: March 2013

Investment Advisor


Objectives of the Fund• Oriented on current income by investing

primarily in a diversified portfolio of fixed income securities that are not denominated in Canadian dollars

• Targets moderate long term capital appreciation


Investment styleMultiple strategies

Investment limits


Min. Max.


Risk level

Underlying Fund�PIMCO Monthly Income Fund (Canada)


Foreign bonds77.40%

Mortgages25.70%

Short term and other-3.10%

Foreign bonds77.40%

Mortgages25.70%

Short term and other-3.10%

Characteristics of the underlying fundAs at September 30, 2015





Compound returns SinceAs at September 30, 2015 YTD 1 month 3 months 6 months 1 year 2 years 3 years 4 years 5 years 10 years Mar. 2013

Fund 2.6 (0.7) (0.8) 0.4 3.1 6.2 7.2* 10.8* - - 5.8Benchmark index1 1.7 0.7 1.3 (0.2) 3.8 4.3 2.5 3.4 - -


Fund 7.7 7.3* 25.4* - - - - - - -Benchmark index1 6.9 (1.3) 5.0 - - - - - - -

1 Barclays U.S. Aggregate Index (CAD Hedged)* Simulation of past returns as if the Fund had been in effect for these periods.

Sector diversification (%) -duration weightedof the underlying fundAs at September 30, 2015

Government-Related 30.30%

Australia 25.10%

EMU 0.50%

Japan 0.10%

United States 11.00%

Other (6.40)%

Mortgage 25.70%

Agency 0.70%

Non-Agency 8.10%

ABS 14.00%

CMBS 1.10%

Other 1.80%

Investment Grade Credit 9.00%

High Yield Credit 12.00%

Emerging Markets 26.90%

Municipal/Other (0.80)%

Net Cash Equivalents (3.10)%

100.00%



100.00%





Canadian Equity Index (TD)

Commentary

The Fund’s objective is to track the S&P/TSX Composite Total Return Index performance. The Fund is managed based on the philosophy that indexing reduces portfolio risk by investing in a comprehensive range of securities while lowering costs compared with more active approaches.



Investment Advisor

Objectives of the Fund• Seeks long term capital growth through

investments in Canadian equities

Investment styleIndexed



Risk level

Underlying Fund�TD Emerald Canadian Equity Index Fund


Sector Allocation of the underlying fundAs at September 30, 2015

Canadian Equity Portfolio

Financials 37.12%

Energy 18.41%

Materials 9.00%

Industrials 8.25%

Consumer Discretionary 7.15%

Telecommunication Services 5.40%

Health Care 4.75%

Consumer Staples 4.40%

Information Technology 2.82%

Utilities 2.28%

Market Index 0.14%

99.72%

Canadian Equity99.72%






Fund (6.9) (3.6) (7.7) (9.3) (8.2) 4.9 5.8 6.6* 4.5* 4.9* 5.3Benchmark index1 (7.0) (3.7) (7.9) (9.4) (8.4) 5.0 5.7 6.6 4.5 4.8


Fund 10.6 12.9 7.0 (8.6)* 17.5* 35.1* (32.8)* 9.9* 17.3* 24.0*Benchmark index1 10.6 13.0 7.2 (8.7) 17.6 35.1 (33.0) 9.8 17.3 24.1

1 S&P/TSX Composite Index.* Simulation of past returns as if the Fund had been in effect for these periods.



100.00%





Dividends

Commentary

The Fund is primarily composed of common stocks of large companies that offer attractive earnings and dividend potential. The investment strategy used to manage this fund is based on a process that combines the bottom-up and top-down approaches. First, the manager uses the top-down approach, which involves carrying out a macroeconomic analysis to determine the economy’s best performing sectors. Then, the manager follows the bottom-up approach, which allows him to select securities according to a value style, giving preference to superior quality Canadian stocks offering regular dividends.



Investment Advisor

Gil Lamothe, CFA

Objectives of the Fund• To invest in stocks that generate regular

dividends (that will be reinvested in the Fund) while ensuring long term capital growth

• Conforms to investment horizons that are sufficiently distant to tolerate the volatility of the market values

Investment styleValue


Short term 0% 25%Canadian equity securities 70% 100%Foreign equity securities 0% 30%

Risk level


Sector Allocation of the FundAs at September 30, 2015


Financials 37.96%

Energy 17.65%


Industrials 4.56%

Utilities 3.46%

Materials 2.22%


73.20%

Top 10 holdings of the FundAs at September 30, 2015

Royal Bank of Canada 6.64% Enbridge Inc. 3.98%

The Toronto-Dominion Bank 6.47% Suncor Energy Inc. 3.60%

Canadian National Railway Co. 4.56% Canadian Imperial Bank of Commerce 3.57%

Bank of Montreal 4.51% BCE Inc. 3.50%

Brookfield Asset Management Inc. 4.03% TransCanada Corp. 3.49%

44.35%


U.S. Equity16.91%

Short term and other5.79%Foreign Equity

0.68%


U.S. Equity16.91%

Short term and other5.79%Foreign Equity

0.68%



Fund (4.3) (1.1) (3.8) (5.7) (4.4) 7.8 8.8 9.5 7.7 7.4 10.5Benchmark index1 (6.2) (3.5) (6.7) (8.4) (6.5) 6.5 6.9 7.3 4.9 5.1


Fund 11.8 17.6 9.9 (1.5) 14.6 32.3 (26.0) 6.3 19.7 27.9Benchmark index1 12.3 13.3 8.1 (9.1) 13.8 31.9 (31.2) 11.1 19.2 26.3

1 S&P/TSX 60 Index.





Canadian Focused Equity (Pyramis)

Commentary

The Fund’s investment strategy uses a bottom-up, fundamental approach designed to deliver the Pyramis Canadian equity research team’s best ideas. The portfolio manager constructs a concentrated portfolio based on fundamental research inputs where active sector and capitalization allocation are the result, primarily, of bottom-up stock selection. The fundation of this research is our large team of research analysts dedicated solely to the Canadian equity market.

Each analyst is assigned an industry group in the S&P/TSX Capped Composite Index and is responsible for rating the top stock ideas within his or her sector. The portfolio manager is responsible for constructing the portfolio and ensuring that the strategy adheres to the stated investment guidelines.



Investment Advisor

Joe Overdevest Andrew Marchese

Objectives of the Fund• Seeks long term capital appreciation

by investing in a diversified portfolio of Canadian equities


Investment styleCore with a growth bias

Investment limits


Min. Max.


Risk level

Underlying Fund�Pyramis Canadian Focused Equity Fund




Financials 30.87%


Energy 12.78%



Materials 7.85%

Industrials 6.29%

Health Care 5.22%

95.16%

Top 10 Holdings of the underlying fundAs at September 30, 2015

Royal Bank of Canada 8.55% Constellation Software Inc. 4.97%

The Toronto-Dominion Bank 7.84% Valeant Pharmaceuticals International Inc. 4.76%

Brookfield Asset Management Inc., Class A 6.83% Intact Financial Corp. 4.57%

Canadian Pacific Railway Co. 5.67% Restaurant Brands International Inc. 3.86%

Alimentation Couche-Tard Inc., Class B, SV 5.07% Enbridge Inc. 3.81%

55.93%







Fund 3.2 (3.1) (3.1) (3.7) 2.0 13.4 15.9 14.5* 11.5* 8.9* 13.9Benchmark index1 (7.0) (3.7) (7.9) (9.4) (8.4) 5.0 5.7 6.6 4.5 4.8


Fund 12.4 28.9 10.1* (6.0)* 17.9* 34.5* (30.0)* 16.3* 14.6* 29.2*Benchmark index1 10.6 13.0 7.2 (8.7) 17.6 35.1 (33.0) 9.8 17.3 24.1

1 S&P/TSX Capped Composite Index.* Simulation of past returns as if the Fund had been in effect for these periods.



100.00%





Canadian Equity Low Volatility (TD)

Commentary

The philosophy underlying the Fund is that capitalization-weighted market indices are not efficient and that portfolio optimization techniques focusing on minimizing expected return volatility can provide market-like returns over the long term with less volatility than the market capitalization-weighted index.

The manager seeks to construct a diversified portfolio with less return volatility than the S&P/TSX Composite Index. The Fund is expected to outperform in declining market environments. Note that the tracking error will be high relative to the index.


Fund Code: 888First offering: November 2012Inception date: August 2012

Investment Advisor

Objectives of the Fund• Seeks long term capital growth mainly

through investments in Canadian equity securities


Investment styleQuantitative

Investment limits


Min. Max.


Risk level

Underlying FundTD Emerald Low Volatility Canadian Equity Pooled Fund Trust




Financials 25.26%


Energy 15.73%



Utilities 8.23%

Industrials 5.59%


Materials 1.29%

Health Care 0.55%

99.70%


Intact Financial Corp. 3.30% Shaw Communications Inc., Class B 2.95%

BCE Inc. 3.27% Manitoba Telecom Services Inc. 2.89%

Metro Inc. 3.13% TransCanada Corp. 2.69%

Fortis Inc. 3.01% Dollarama Inc. 2.49%

Thomson Reuters Corp. 2.99% Empire Co. Ltd., Class A, NV 2.48%

29.20%






Compound returns SinceAs at September 30, 2015 YTD 1 month 3 months 6 months 1 year 2 years 3 years 4 years 5 years 10 years Aug. 2012

Fund (2.6) (0.6) (1.8) (5.0) 3.6 11.4 11.2 11.9* 12.3* - 11.2Benchmark index1 (7.0) (3.7) (7.9) (9.4) (8.4) 5.0 5.7 6.6 4.5 -


Fund 20.8 13.2 11.8* 15.1* 20.0* - - - - -Benchmark index1 10.6 13.0 7.2 (8.7) 17.6 - - - - -

1 S&P/TSX Composite Index.* Simulation of past returns as if the Fund had been in effect for these periods.



100.00%





Canadian Equity Growth

Commentary

The Fund is primarily invested in medium and large capitalization companies, and a small proportion of the portfolio is invested in small capitalization companies. The manager looks for securities that present a good growth profile, but is concerned about the price that he pays to acquire them. He relies on a “self-generated” cash flow model to select securities, and pays special attention to risk management in terms of sectors, capitalizations and primary positions in the benchmark index. The Fund remains diversified in terms of stock market sectors and can occasionally contain foreign securities.



Investment Advisor

Marc Gagnon, MBA, CFA

Objectives of the Fund• Long term capital growth mainly through

investments in Canadian equity securities


Investment styleGrowth


Short term 0% 25%Canadian equity securities 55% 100%Foreign equity securities 0% 30%

Risk level


Sector Allocation of the FundAs at September 30, 2015


Financials 29.22%

Energy 14.30%

Industrials 9.73%

Materials 6.30%





Market Index 2.37%

Utilities 1.14%

Health Care 0.36%

80.88%

Top 10 holdings of the FundAs at September 30, 2015

Royal Bank of Canada 5.73% Valeant Pharmaceuticals International Inc. 2.76%

The Toronto-Dominion Bank 5.31% Manulife Financial Corp. 2.52%

Canadian National Railway Co. 3.90% BCE Inc. 2.47%

Bank of Nova Scotia 3.68% Enbridge Inc. 2.29%

Suncor Energy Inc. 2.91% Bank of Montreal 2.23%

33.80%


U.S. Equity10.75%


Foreign Equity0.64%

Bonds0.02%


U.S. Equity10.75%


Foreign Equity0.64%

Bonds0.02%



Fund (3.5) (3.5) (7.3) (7.7) (3.7) 8.4 9.4 9.7 6.6 7.9 9.7Benchmark index1 (7.0) (3.7) (7.9) (9.4) (8.4) 5.0 5.7 6.6 4.5 4.8


Fund 11.5 18.2 9.4 (10.5) 18.1 46.7 (31.6) 13.9 23.2 25.8Benchmark index1 10.6 13.0 7.2 (8.7) 17.6 35.1 (33.0) 9.8 17.3 24.1

1 S&P/TSX Composite Index.





Canadian Equity Small Cap (Montrusco)

Commentary

The fundamental investment objective of the fund is to achieve long term growth of capital through the investment of its assets primarily in issues of Canadian small cap corporations. The manager focuses on growth companies that have a track record of earnings and cash flow.


Fund Code: 511Inception date: December 2004

Investment Advisor

Christian Godin, BBA, MSC

Objectives of the Fund• Long term capital growth through

investments in small capitalization Canadian companies


Investment styleGrowth at a reasonable price

Investment limits


Min. Max.


Risk level

Underlying Fund�Montrusco Bolton Canadian Small Cap. Equity Fund




Materials 20.81%

Industrials 17.04%

Financials 16.50%

Energy 14.08%




Health Care 1.64%

97.64%


Osisko gold royalties Ltd. 5.02% Kinaxis Inc. 3.69%

Parex Resources Inc. 3.80% Laurentian Bank of Canada 3.49%

Home Capital Group Inc. 3.79% Boyd Group Income Fund 3.35%

Lassonde Industries Inc., Class A, SV 3.78% Premium Brands Holdings Corp. 3.34%

Western Forest Products Inc. 3.75% High Liner Foods Inc. 3.22%

37.23%






Compound returns SinceAs at September 30, 2015 YTD 1 month 3 months 6 months 1 year 2 years 3 years 4 years 5 years 10 years Dec. 2004

Fund (13.2) (2.8) (13.7) (12.5) (17.4) (3.3) 0.6 4.0 2.7 5.9 7.6Benchmark index1 (14.3) (6.8) (15.2) (14.1) (21.8) (5.4) (4.1) (1.7) (2.7) 0.1


Fund 0.4 19.2 4.2 (11.1) 39.6 68.3 (43.6) 17.3 15.2 24.1Benchmark index1 (2.3) 7.6 (2.2) (16.4) 35.1 62.4 (45.5) 0.9 11.6 10.6

1 S&P/TSX SmallCap Index.



100.00%





Canadian Equity Small Cap (QV)

Commentary

QV Investors Inc. believes investing is the process of buying ownership stakes in businesses run by managers we want as long term partners. They seek to buy our investments at a price calculated to deliver a rate of return superior to the return on equity of Canadian corporations. They believe the study of the business environment can enhance returns by putting values, companies, credit and cultures in a global or thematic context. The elements of the portfolio management are as follows: - Quality, Value, Growth and Diversification - and relate to the management of portfolio risk. Quality is analysis of the integrity of management and corporate finance. Value is the calculation of a security’s price relative to its earning power and inflation. Growth in capital is the objective. Diversification is the means to modify risk.



Investment Advisor



investments in small capitalization Canadian companies



Investment limits


Min. Max.


Risk level

Underlying Fund IA Clarington Canadian Small Cap. Fund




Financials 24.55%

Industrials 21.76%

Energy 16.74%



Materials 7.05%



93.42%


Manitoba Telecom Services Inc. 5.94% Richelieu Hardware Ltd. 3.90%

Canadian Western Bank 5.73% Lassonde Industries Inc., Class A, SV 3.78%

E-L Financial Corp. Ltd. 5.19% Secure Energy Services Inc. 3.23%

Laurentian Bank of Canada 5.08% Empire Co. Ltd., Class A, NV 3.07%

New Flyer Industries Inc. 4.21% Leon's Furniture Ltd. 3.05%

43.18%


Short term and other4.84%U.S. Equity

1.74%


Short term and other4.84%U.S. Equity

1.74%



Fund (6.1) (2.8) (7.1) (6.1) (7.6) 7.5 14.5 17.1 13.9 9.9* 9.2Benchmark index1 (14.3) (6.8) (15.2) (14.1) (21.8) (5.4) (4.1) (1.7) (2.7) 0.1


Fund 9.0 41.3 23.5 (0.5) 16.9 33.1 (31.0) 12.0 12.8* 28.2*Benchmark index1 (2.3) 7.6 (2.2) (16.4) 35.1 62.4 (45.5) 0.9 11.6 10.6

1 S&P/TSX SmallCap Index.* Simulation of past returns as if the Fund had been in effect for these periods.


Short term (0.08)%Units of the underlying fund 100.08%

100.00%


Group savingsand retirement



Commentary

BlackRock uses an index approach to manage this fund. The Fund aims to closely track the MSCI ACWI Ex-Canada Index by investing in a broadly diversified portfolio of securities of companies located arround the world, including emerging countries.


Fund Code: 876Inception date: July 2012

Investment Advisor

Objectives of the Fund• To reproduce the return of the MSCI ACWI

Ex-Canada Index

Investment styleIndexed

Investment limits


Min. Max.


Risk level

Underlying Fund�

BlackRock CDN MSCI ACWI Ex-CanadaIndex Fund

Global Equity Index ACWI (BlackRock)


North America53.80%

Europe24.22%

Asia and Pacific19.00%

Mid-east and Africa1.39%

Latin America1.34%


North America53.80%

Europe24.22%



Latin America1.34%



Compound returns SinceAs at September 30, 2015 YTD 1 month 3 months 6 months 1 year 2 years 3 years 4 years 5 years 10 years July 2012

Fund 8.1 (2.7) (2.3) (3.4) 12.9 16.6 18.6 17.8* 12.8* - 18.2Benchmark index1 8.2 (2.9) (2.6) (3.6) 12.8 16.8 19.1 18.0 13.1 -


Fund 13.7 30.2 14.0* (4.6)* 6.2* 12.8* (26.4)* - - -Benchmark index1 13.7 31.9 13.9 (4.8) 6.5 13.7 (27.5) - - -

1 MSCI ACWI Ex-Canada Index (Can. $) (Reuters) (net ret.).* Simulation of past returns as if the Fund had been in effect for these periods.


iShares Core MSCI Emerging Markets ETF 10.24% General Electric Co. 0.81%

Apple Inc. 2.00% Berkshire Hathaway Finance Corp., Class B 0.78%

Microsoft Corp. 1.13% Wells Fargo & Co. 0.76%

Exxon Mobil Corp. 0.99% Nestlé SA 0.74%

Johnson & Johnson 0.82% JPMorgan Chase & Co. 0.72%

18.99%


Global Equity Portfolio

Financials 21.01%



Health Care 12.42%

Industrials 10.64%


Energy 6.19%

Materials 4.54%


Utilities 3.40%

99.75%

Asset mix of theIndustrial Alliance FundAs at September 30, 2015 Distribution


100.00%





Global Equity (Hexavest)

Commentary

The Fund is invested in equity securities related to the global stock markets. The Fund is managed according to an approach that consists of actively managing each decisional level (regional allocation, choice of country, sector allocation, securities selection and management of currencies) in order to diversify the sources of value added and reduce the risk related to the portfolio. The managers place great importance in the preservation of their clients capital. The main decisions are guided by a fundamental analysis of macroeconomic factors (Top-Down style) and are backed by internally developed quantitative models.



Investment Advisor


Objectives of the Fund• Targets long term capital appreciation

through investments in equity securities from around the world

• Conforms to an investment horizon that is long enough to endure the volatility of the market values


Investment limits


Min. Max.


Underlying fund

Min. Max.

Short term 0% 10%Equity 90% 100%Currency 40% 100%

Risk level

Underlying Fund�Hexavest World Fund



AT&T Inc. 2.23% Verizon Communications Inc. 1.50%

Pfizer Inc. 2.04% Wal-Mart Stores Inc. 1.49%

The Southern Co. 1.78% Johnson & Johnson 1.43%

Eli Lilly and Co. 1.68% The Coca-Cola Co. 1.35%

Procter & Gamble Co. 1.57% Microsoft Corp. 1.31%

16.38%

North America52.42%

Europe19.91%



Latin America0.76%


North America52.42%

Europe19.91%



Latin America0.76%




Fund 11.0 (1.4) 1.6 (0.1) 16.7 18.6 19.6 18.0 13.6 7.9 7.8Benchmark index1 8.5 (2.4) (1.7) (3.0) 13.4 17.8 20.3 19.0 14.1 6.2


Fund 15.0 32.5 9.8 0.1 3.0 10.5 (8.9) (9.9) 18.4 7.7*Benchmark index1 14.5 35.4 13.3 (3.4) 6.2 11.1 (26.5) (7.5) 20.0 6.1

1 MSCI - World Index (Can. $) (net ret.).* Simulation of past returns as if the Fund had been in effect for these periods.



100.00%





Global Equity (Templeton)

Commentary

The manager of this Fund favours a bottom-up approach, a vigorous investment method based on value and patience. The Fund’s value style means that the manager looks for securities that are undervalued by the market and have strong growth potential. The securities in the portfolio are therefore securities of established companies with mid to large market capitalizations, from different countries around the world. The allocation of these various countries is primarily a consequence of the manager’s bottom-up approach rather than his forecasts with respect to different areas of the world.



Investment Advisor

Peter M. Moeschter, MBA, CFA





Investment limits


Min. Max.


Risk level

Underlying Fund�Templeton Master Trust Fund, Series 1



Microsoft Corp. 2.53% JPMorgan Chase & Co. 1.77%

Gilead Sciences Inc. 2.25% Nissan Motor Co. Ltd. 1.72%

Teva Pharmaceutical Industries Ltd., Sponsored ADR 2.05% Morgan Stanley 1.69%

Citigroup Inc. 1.87% Amgen Inc. 1.69%

Allergan Inc. 1.83% Sky PLC 1.69%

19.09%

Europe42.89%

North America38.94%


Short term and other2.38%Mid-east and Africa

2.05%

Europe42.89%

North America38.94%


Short term and other2.38%Mid-east and Africa

2.05%



Fund 6.5 (4.1) (4.9) (4.5) 8.8 15.1 22.7 20.0 14.0 6.8 6.6Benchmark index1 8.5 (2.4) (1.7) (3.0) 13.4 17.8 20.3 19.0 14.1 6.2


Fund 10.3 44.9 19.2 (8.1) 2.4 15.2 (28.9) (6.3) 27.7 7.1Benchmark index1 14.5 35.4 13.3 (3.4) 6.2 11.1 (26.5) (7.5) 20.0 6.1

1 MSCI - World Index (Can. $) (net ret.).



100.00%





Global Equity (Aberdeen)

Commentary

Aberdeen’s global equity strategy is built around a high conviction “best ideas” approach, designed to allow their Global Equity Team to capitalize on the expertise of their regional equity research teams.

As a bottom-up stock picking manager, Aberdeen believes that investing across the globe provides a wealth of opportunities.

It offers direct access to the very best and strongest companies from around the world. Such companies, as well as offering performance potential, are also well positioned to respond to a constantly changing economic and business environment.

By giving their fund managers free rein to invest anywhere in the global community, they are providing them with greater opportunities to deliver strong performance.



Investment Advisor





Investment styleCore with a value bias

Investment limits


Min. Max.


Underlying fund

Min. Max.

Short term 0% 20%Foreign equity securities 80% 100%

Risk level

Underlying Fund�Aberdeen Canada Global Equity Fund



EOG Resources Inc. 3.90% Taiwan Semiconductor Manufacturing Co. Ltd. 3.30%

Roche Holdings AG 3.60% Pepsico Inc. 2.70%

Novartis AG, ADR 3.50% Oracle Corp. 2.60%

CVS Health Corp. 3.50% Samsung Electronics Co. Ltd. 2.60%

British American Tobacco PLC 3.30% Shin-Etsu Chemical Co. Ltd. 2.50%

31.50%

Europe36.10%

North America35.10%


Latin America5.00%

Mid-east and Africa2.70%Short term and other

2.60%

Europe36.10%

North America35.10%


Latin America5.00%

Mid-east and Africa2.70%Short term and other

2.60%



Fund (0.4) (3.5) (6.3) (8.8) (0.7) 8.5* 12.0* 12.8* 10.3* - 6.8Benchmark index1 8.5 (2.4) (1.7) (3.0) 13.4 17.8 20.3 19.0 14.1 -


Fund 10.6 21.6* 13.7* 2.0* 6.1* 12.2* - - - -Benchmark index1 14.5 35.4 13.3 (3.4) 6.2 11.1 - - - -

1 MSCI - World Index (Can. $) (net ret.).* Simulation of past returns as if the Fund had been in effect for these periods.



100.00%





Global Equity Small Cap (Deutsche AWM)

Commentary

The mantra of Deutsche Asset & Wealth Management (Deutsche AWM) is to “find growth, avoid risk” and it does this by investing in small, high-quality small and mid cap growth companies globally through bottom-up research. The Fund strategy is driven by best ideas from a team of global, locally based analysts and portfolio managers. Deutsche AWM seeks to achieve favorable investment returns over the course of a full market cycle through a disciplined investment process and rigorous risk management. As a result, the portfolio has a long term investment horizon which can be seen by its low turnover rate. The Fund is benchmark aware but does not manage to the benchmark, therefore sector and country weightings are a residual of stock selection. The portfolio is well diversified and will typically hold between 75 and 125 securities.


Fund Code: 531Inception date: March 2008

Investment Advisor



through investments in small and mid cap equity securities from around the world


Investment styleGrowth


Short term 0% 20%Foreign equity securities 80% 100%

Risk level

The Fund is managed by Deutsche Asset & Wealth Management (Deutsche AWM) since March 31, 2008. Prior to this date, the Fund was managed by Evergreen Investments.

Very Low to Moderate low Low moderate Moderate to high High Top 10 Holdings of the underlying fund

As at September 30, 2015

United Internet AG 2.31% Providence Service Corp. 1.73%

Kusuri No Aoki Co. Ltd. 2.01% Nippon Seiki Co. Ltd. 1.69%

Flamel Technologies, Sponsored ADR 1.97% Casey's General Stores Inc. 1.60%

Ryanair Holdings PLC, Sponsored ADR 1.89% Middleby Corp. 1.49%

Babcock International Group PLC 1.85% Ai Holdings Corp. 1.42%

17.96%

Equity97.07%


Equity97.07%



Compound returns SinceAs at September 30, 2015 YTD 1 month 3 months 6 months 1 year 2 years 3 years 4 years 5 years 10 years Mar. 2008

Fund 13.6 (3.3) (1.5) (1.7) 17.3 16.4 22.3 19.4 14.6 - 7.7Benchmark index1 10.8 (3.0) (3.0) (3.1) 17.9 17.3 22.6 21.1 15.9 -


Fund 5.7 44.8 13.0 (6.8) 19.7 26.9 (36.1) 0.9 - -Benchmark index1 11.6 42.1 15.6 (6.6) 20.3 23.7 (27.6) (14.3) - -

1 MSCI - World Small Cap Index (Can. $).





Global Equity Small Cap (Mawer)

Commentary

The objective of the Global Equity Small Cap Fund is to make long term investments in equities which belong to small companies around the world. To do so, the Fund’s strategy is based on small cap value stocks and especially on the economic foundations of companies. The manager focuses on companies that have a good management team and stable cash flows, generate dividends and trade below their intrinsic value. The manager uses a very disciplined approach, based on research, which favours securities selection according to the bottom-up approach. The portfolio has a long term investment horizon, which can be seen by its low turnover rate, and therefore minimizes transaction costs.



Investment Advisor


Objectives of the Fund• Aims to achieve long term capital growth

through investments in global small cap equity securities


Investment styleGrowth at a reasonable price

Investment limits


Min. Max.


Risk level

Underlying FundMawer Global Small Cap Fund



NCC Group PLC 5.69% Loomis AB 3.60%

DCC PLC 5.12% Amsterdam Commodities NV 3.16%

PayPoint PLC 4.55% VZ Holdings AG 3.13%

Constellation Software Inc. 4.50% Origin Enterprises PLC 3.08%

Cineworld Group PLC 3.68% XP Power Ltd. 2.65%

39.16%

Europe55.09%


North America12.06%



Europe55.09%


North America12.06%





Fund 20.2 (0.3) 1.8 6.3 25.2 25.9* 30.7* 29.0* 24.6* - 23.0Benchmark index1 10.8 (3.0) (3.0) (3.1) 17.9 17.3 22.6 21.1 15.9 -


Fund 14.0 50.0* 31.6* 2.2* 18.5* 42.2* (28.5)* - - -Benchmark index1 11.6 42.1 15.6 (6.6) 20.3 23.7 (27.6) - - -

1 MSCI – World Small Cap Index (Can. $).* Simulation of past returns as if the Fund had been in effect for these periods.



100.00%





Emerging Markets (Aberdeen)

Commentary

Given the inefficiency of markets, Aberdeen believes that competitive long-term returns are achieved by identifying high-quality stocks at attractive valuations and holding them for the long term. It is their belief that sound fundamentals drive stock prices over time. They employ a fundamental bottom-up investment approach based on a rigorous and disciplined proprietary research effort which originates with direct company due diligence visits.

They hold absolute return to be of the utmost importance over the long term and are benchmark-aware, but not benchmark-driven.


Fund Code: 122First offering: November 2015Inception date: September 2015

Investment Advisor

Devan Kaloo


investments in equity securities in emerging countries

• Requires a long term investment horizon to tolerate the volatility of the market values


Investment limits


Min. Max.


Risk level

Underlying Fund�Aberdeen Canada - Emerging Markets Fund



Samsung Electronics Co. Ltd. 6.30% FEMSA 3.50%

Taiwan Semiconductor Manufacturing Co. Ltd. 4.70% Housing Development Finance Corp. 3.20%

China Mobile Ltd. 4.50% Grupo Financiero Banorte 2.80%

AIA Group Ltd. 3.70% Hang Lung Group Ltd. 2.80%

PT Astra International Tbk 3.50% ITC Ltd. 2.50%

37.50%


Latin America21.60%


Europe9.40%Short term and other

0.90%


Latin America21.60%


Europe9.40%Short term and other

0.90%



Fund (0.7)* (1.6)* (8.6)* (11.5)* (2.4)* 4.8* 5.2* 8.2* 4.8* - 0.9Benchmark index1 (2.1) (1.7) (11.7) (12.5) (3.2) 5.1 5.4 6.8 2.0 -


Fund 7.7* 0.6* 24.0* (7.7)* 22.3* 55.4* (27.9)* 15.3* - -Benchmark index1 7.1 4.5 16.0 (16.3) 13.3 53.0 (42.0) 18.5 - -

1 MSCI - Emerging Markets Index (Can. $).* Simulation of past returns as if the Fund had been in effect for these periods.



Financials 35.60%



Materials 8.90%


Energy 7.30%


Industrials 1.50%

Health Care 1.00%

99.10%



100.00%





Balanced-Risk Allocation (Invesco)

Commentary

The Fund’s investment philosophy is based on the conviction that the understanding, management and allocation of risk are fundamental to creating a good portfolio. The Fund’s strategy allows investors to take advantage of a risk premium by investing in stock markets, bond markets and commodities according to a process based on balanced risk allocation. More specifically, the team selects the asset that is best suited to this strategy, allocates it based on exclusive risk management techniques and then uses an active positioning process to improve expected returns. The primary objective is to create a portfolio that will generate good returns in various economic environments (recession, non-inflationary growth, inflationary growth).


Investment Advisor


Objectives of the Fund• Annualized return exceeding by at least 6%

that of the FTSE TMX Canada 91 Day T-Bill Index over moving four-year periods

• 8% target portfolio volatility

• Approach that focuses on balanced risk based on investments in stock markets, bond markets and commodities

• Good returns in various economic environments

Investment styleAbsolute return

Investment limits


Min. Max.


Risk level

Underlying Fund�Invesco Balanced-Risk Allocation Fund


Long Gilt Futures, expiring December 2015 16.91%

Canada 10 Year Bonds Futures, expiring December 2015 16.39%

Euro Bonds Futures, expiring December 2015 15.21%

Australian 10 Year Bonds Futures, expiring December 2015 12.19%

Japan 10 Year Bonds Futures, expiring December 2015 10.78%

U.S. Treasury Long Bonds Futures, expiring December 2015 8.45%

FTSE 100 Index Futures, expiring December 2015 6.11%

Dow Jones Eurostoxx 50 Futures, expiring December 2015 5.56%

Hang Seng Index Futures, expiring October 2015 4.50%

Russell 2000 Index Mini Futures, expiring December 2015 4.41%

Topix Tokyo Price Index Futures, expiring December 2015 3.95%

100 Ounce Gold Futures, expiring December 2015 3.74%

E-Mini S&P 500 Index Futures, expiring December 2015 3.20%

LME Copper Futures, expiring November 2015 2.60%

Silver Futures, expiring December 2015 2.44%

% of the underlying fund % of total notional value

Fixed-income futures contracts 79.93% 60.92%

Equity futures contracts 27.73% 21.13%

Commodity futures contracts 23.56% 17.95%

131.22% 100.00%

LME Primary Aluminum Futures, expiring November 2015 2.10%

Sugar #11, expiring March 2016 1.94%

RBOB Gasoline Futures, expiring November 2015 1.93%

Soybean Meal Futures, expiring December 2015 1.87%

Soybean Futures, expiring November 2015 1.80%

Brent Crude Oil Futures, expiring March 2016 1.03%

Cotton No. 2 Futures, expiring December 2015 1.01%

WTI Crude Futures, expiring March 2016 0.95%

Wheat Futures, expiring December 2015 0.52%

Soybean Oil Futures, expiring December 2015 0.44%

Corn Futures, expiring December 2015 0.39%

Gas Oil Futures, expiring December 2015 0.31%

Coffee 'C' Futures, expiring December 2015 0.31%

Natural Gas Futures, expiring December 2015 0.18%

131.22%

Asset class allocation of the underlying fundAs at September 30, 2015

Holdings of the underlying fundAs at September 30, 2015



Fund (1.9) (0.8) (3.8) (6.0) 0.3 3.9* - - - - 4.2Composite index1 5.9 (1.2) (0.4) (1.8) 9.7 12.4 - - - -


Fund 9.3 3.2* - - - - - - - -Composite index1 11.5 19.5 - - - - - - - -

1 MSCI - World Index (Can. $) (net ret.) (60%), Barclays U.S. Aggregate Index (CAD Hedged) (40%).* Simulation of past returns as if the Fund had been in effect for these periods.



100.00%





Global Infrastructure (Lazard)

Commentary

Infrastructure is the basic facilities, services and installations needed for the functioning of a community or society. Lazard believes that infrastructure assets have a number of investment characteristics that make them attractive for investors. These include the long life of the assets, low risk of capital loss and inflation-linked returns. The Lazard Global Listed Infrastructure (Canada) Fund allows investors to access such opportunities by investing in companies listed on global stock exchanges.



Investment Advisor



through investments in real estate equity securities of companies that operate in infrastructure sectors



Investment limits


Min. Max.


Risk level

Underlying Fund�Lazard Global Listed Infrastructure (Canada) Fund




Toll Roads 26.40%

Electricity Utilities 16.00%

Railroads 12.80%

Diversified Utilities 12.30%

Communication Infrastructures 10.70%

Gas Utilities 9.70%

Airports 7.50%

Water Utilities 4.60%

100.00%


Snam SpA 8.18% Abertis Infraestructuras SA 6.07%

Terna SpA 8.10% Norfolk Southern Corp. 6.06%

Atlantia SpA 6.96% SES SA 5.86%

Vinci SA 6.69% Great Plains Energy Inc. 5.30%

CSX Corp. 6.10% Eutelsat Communications 4.45%

63.77%

Europe62.61% North America

22.44%


Europe62.61% North America

22.44%




Fund 6.7 1.0 1.7 (2.6) 11.7 16.9 19.7 19.4* 15.4* - 19.8Benchmark index1 (0.3) (0.7) (0.9) (4.7) 6.2 12.4 14.9 14.7 11.5 -


Fund 19.9 29.4 19.2 0.0* 10.5* 19.0* (32.6)* - - -Benchmark index1 20.9 21.0 13.3 0.3 4.3 14.8 (32.3) - - -

1 Since April 1, 2015: FTSE Developed Core Infrastructure 50/50 Before April 1, 2015: UBS Global 50/50 Infrastructure and Utilities Index (Local $).* Simulation of past returns as if the Fund had been in effect for these periods.



100.00%





Global Direct Real Estate - Portfolios (UBS)

Commentary

The target allocation of the Fund is 75% in the UBS fund, 20% in the BlackRock fund and 5% in the Money Market fund. In order to offer diversified exposure to key global real estate markets, UBS Asset Management allocates the Fund’s assets among various high-quality specialized institutional fund managers offering different management styles and strategies. Investments are selected by a team of UBS Asset Management managers. Tactical overweighting and underweighting is the product of research activities and are based on the points of view of UBS Global Real Estate Research House. Allocation in the Americas is focused in the U.S. with exposure in Canada. Exposure in Europe is largely weighted in favour of the strongest and most defensive markets in the region, with an overweighting in the U.K.

BlackRock fund uses an index approach to manage its fund. To do so, it invests in all securities comprising its reference index in weightings that match the index’s weightings as closely as possible.

Geographical allocation of the underlying UBS fund†◊

As at August 31, 2015

Fund Code: 152First offering: November 2015Inception date: September 2015

Investment Advisor

Eric Byrne

Objectives of the Fund• Aims to offer diversified exposure to key

global real estate markets through a diversified portfolio which includes quality buildings around the world, invested in several direct real estate funds and also through a global real estate equity index fund, which serves to guarantee liquidity of the Fund

• Conforms to a medium and long term investment horizon

Investment styleMulti-management

Investment limits


Min. Max.

Short term 0% 20%Units of the underlying funds 80% 100%

Risk level

Underlying Funds • USB (Lux) Real Estate Funds Selection-Global

• BlackRock CDN Global Developed Real Estate Index Fund, Class D

• Money Market Fund


United States35.56%


United Kingdom17.69%

Cont. Europe7.47%

Japan6.83%

Australia4.78%

Other APAC3.31%Canada

2.71%

United States35.56%


United Kingdom17.69%

Cont. Europe7.47%

Japan6.83%

Australia4.78%

Other APAC3.31%Canada

2.71%

North America55.22%


Europe17.37%



North America55.22%


Europe17.37%





Fund 5.6* 0.1* 0.7* 3.1* 7.1* 8.6* 8.5* - - - 0.1Benchmark index1 5.5 0.6 2.1 2.1 8.5 8.1 7.7 - - -


Fund 9.5* 8.7* - - - - - - - -Benchmark index1 9.4 5.9 - - - - - - - -

1 CPI + 4% (75%), FTSE EPRA/NAREIT Developed Index (Can. $) (Reuters) (net ret.) (20%), FTSE TMX Canada 91 Day T-Bill Index (5%)* Simulation of past returns as if the Fund had been in effect for these periods.



100.00%


Geographical allocation of the underlying BlackRock fund†

As at September 30, 2015

†Consult the underlying fund page, available in the quarterly bulletin at ia.ca/business/group-retirement publications, to obtain additional details on its allocation.◊Approximate figures from last available underlying fund reports. Allocation numbers may not add up to 100% due to rounding differences.

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