Report of Fund Performance for ended September 3, 217 This semi-annual management report of fund performance contains financial highlights but does not contain the complete semi-annual or annual financial statements of the investment fund. You can get a copy of the semi-annual or annual financial statements at your request, and at no cost, by calling 1-8-563-5181, by writing to us at CI Investments Inc., 2 Queen Street East, Twentieth Floor, Toronto, ON, M5C 3G7 or by visiting our website at www.ci.com or SEDAR at www.sedar.com. Securityholders may also contact us using one of these methods to request a copy of the investment fund s proxy voting policies and procedures, proxy voting disclosure record, or quarterly portfolio disclosure. RESULTS OF OPERATIONS The net asset value of the Fund increased by $144.6 million to $4,975.8 million from March 31, 217 to September 3, 217. The Fund had net sales of $82. million during. The portfolio s performance increased assets by $65.2 million. The Fund paid distributions totalling $2.6 million. Class A shares returned.9% after fees and expenses for the six-month period ended September 3, 217. Over the same time period, the Fund s benchmark returned 2.%. The benchmark is the S&P/TSX Composite Return Index. its high cash position. Its overweight to information technology and holdings in materials made positive contributions to relative performance. The portfolio remained underweight in financials and somewhat underweight in energy. The cash level rose to more than 16% from less than 12% six months earlier. One-half of the Fund s assets were in Canada and 44% in the United States, little changed from the previous period. The U.S. exposure detracted from relative performance due to weakness in the U.S. dollar. The performance of the Fund s other Classes is substantially similar to that of Class A shares, except for differences in fees and expenses structure. For the returns of the Fund s other Classes, please refer to the Past performance section. Canadian equities produced a slight gain during, as a strong September overcame weakness earlier in. While the market s overall performance was muted, several sectors consumer discretionary, industrials and technology posted strong. These returns were largely offset by the heavily weighted energy sector, which held back performance. Equities in the United States and abroad outperformed those in Canada, although the strengthening Canadian dollar cut into local currency returns. Underlying economic data continued to improve around the world, reinforcing the notion that a synchronized global economic expansion is underway for the first time in years. The yield on the benchmark 1-year Government of Canada bond rose to above 2%, from a low of 1.4% in early June. The increase in interest rates came as the Bank of Canada shifted from its low-rate policy stance and raised interest rates twice during the summer as the economy accelerated. This in turn propelled the Canadian dollar to above US$.8, after spending much of the year in the mid-7-cent range. Among individual securities, Tourmaline Oil Corp., Canadian Natural Resources Ltd., Fairfax Financial Holdings Ltd. and Walgreens Boots Alliance Inc. were the largest holdings at the end of. Palo Alto Networks Inc. and Franco Nevada Corp. made the largest contributions to relative performance, while Fluor Corp. and Tourmaline Oil Corp. were the biggest detractors. RECENT DEVELOPMENTS As we head into the final quarter of 217, the portfolio remains conservatively positioned. Although the economic backdrop has been improving, we remain cognizant that this is the latter stage of the economic cycle and valuations have expanded accordingly. As central banks around the world continue to normalize their respective interest rate policies after years of near-zero interest rates, the risk of a policy error is a concern. The Fed has been raising rates gradually, with at least one more hike before the end of the year. We will continue to follow a disciplined investment process with the objective to deliver strong risk-adjusted returns to clients over the long term. Effective April 3, 217, William Harding ceased to be a member of the Independent Review Committee. The U.S. bond market was relatively quiet as the 1-year Treasury issue ended with a yield of approximately 2.3%. The U.S. Federal Reserve (Fed) has maintained a slow and steady approach to normalizing interest rates. After raising rates in March and June, it held fast in the face of persistently low inflation, even as the labour market sustained its positive momentum. The Fund underperformed the benchmark due in part to its overweight exposure to the consumer staples sector and its industrials holdings, as well as RELATED PARTY TRANSACTIONS Manager, Portfolio Advisor and Registrar CI Investments Inc. is the Manager, Portfolio Advisor and Registrar of the Fund. CI Investments Inc. is a subsidiary of CI Financial Corp. The Manager, in consideration for management fees, provides management services required in the day-to-day operations of the Fund. The Manager bears all of the operating expenses of the Fund (other than taxes, borrowing costs and new governmental fees) in return for a fixed administration fee. CIG - 2321
Report of Fund Performance for ended September 3, 217 fee and fixed administration fee rates as at September 3, 217, for each of the classes are shown below: Annual management fee rate (%) Annual fixed administration fee rate (%) A Shares 2..2 A1 Shares 1.925.2 A2 Shares 1.9.19 A3 Shares 1.85.15 A4 Shares 1.8.12 A5 Shares 1.7.1 AT5 Shares 2..2 A1T5 Shares 1.925.2 A2T5 Shares 1.9.19 A3T5 Shares 1.85.15 AT6 Shares 2..2 AT8 Shares 2..2 A1T8 Shares 1.925.2 A2T8 Shares 1.9.19 A3T8 Shares 1.85.15 A4T8 Shares 1.8.12 A5T8 Shares 1.7.1 D Shares 1.65.2 E Shares 1.95.15 EF Shares.95.15 EFT5 Shares.95.15 EFT8 Shares.95.15 ET5 Shares 1.95.15 ET8 Shares 1.95.15 F Shares 1..2 F1 Shares.925.2 F2 Shares.9.19 F3 Shares.85.15 F4 Shares.8.12 F5 Shares.7.1 FT5 Shares 1..2 F1T5 Shares.925.2 F2T5 Shares.9.19 F3T5 Shares.85.15 Annual management fee rate (%) Annual fixed administration fee rate (%) FT8 Shares 1..2 F1T8 Shares.925.2 F2T8 Shares.9.19 F3T8 Shares.85.15 F4T8 Shares.8.12 F5T8 Shares.7.1 I Shares Paid directly by investor - IT5 Shares Paid directly by investor - IT8 Shares Paid directly by investor - O Shares Paid directly by investor.15 OT5 Shares Paid directly by investor.15 OT8 Shares Paid directly by investor.15 P Shares Paid directly by investor.2 PT5 Shares Paid directly by investor.2 PT8 Shares Paid directly by investor.2 W Shares Paid directly by investor.2 WT8 Shares Paid directly by investor.2 Y Shares.95.2 Z Shares 1.95.2 The Fund paid the Manager $31.8 million in management fees and $3.5 million in administration fees for ended September 3, 217. Fees Approximately 26% of total management fees were used to pay for sales and trailing commissions. The remaining 74% of management fees were used for investment management and other general administration. Inter-Fund Trading Inter-fund trading occurs when a Fund purchases or sells a security of any issuer from or to another Fund managed by the Manager. These transactions are executed through market intermediaries and under prevailing market terms and conditions. The Independent Review Committee reviews such transactions during scheduled meetings. During ended September 3, 217 the Fund executed inter-fund trades. Independent Review Committee The Fund received standing instructions from the Fund s Independent Review Committee ( IRC ) with respect to the following related party transactions: a) trades in securities of CI Financial Corp.; b) purchases or sales of securities of an issuer from or to another investment fund managed by the Manager;
Report of Fund Performance for ended September 3, 217 c) purchases or sales of other investment funds managed by the Manager or their affiliates; and d) mergers involving the Fund and another fund managed by the Manager that is subject to National Instrument 812 - Investment Funds. The applicable standing instructions require that related party transactions be conducted in accordance with the Manager s policies and procedures and that the Manager advise the IRC of any material breach of a condition of the standing instructions. The standing instructions require, among other things, that investment decisions in respect of related party transactions (a) are free from any influence by an entity related to the Manager and without taking into account any consideration relevant to an entity related to the Manager; (b) represent the business judgment of the Manager uninfluenced by considerations other than the best interests of the Fund; (c) are made in compliance with the Manager s policies and procedures; and (d) achieve a fair and reasonable result for the Fund. Transactions made by the Manager under the standing instructions are subsequently reviewed by the IRC on a quarterly basis to monitor compliance. The Fund relied on the IRC s standing instructions regarding related party transactions during this reporting period.
Report of Fund Performance for ended September 3, 217 FINANCIAL HIGHLIGHTS The following tables show selected key financial information about the Fund and are intended to help you understand the Fund s financial performance for the past six periods, as applicable. Net Assets per Share ($) (1) (2) (5) * Increase (decrease) from operations: Dividends: Realized Unrealized increase net investment Net assets Net assets at the beginning of period (2) revenue expenses distributions) (decrease) from operations (2) income ) capital Return of capital (2, 3) at the end of shown (2) $ $ $ $ $ $ $ $ $ $ $ $ A Shares Commencement of operations January 7, 28 Sept. 3, 217 17.29.13 (.24).61 (.32).18 - - - - - 17.45 Mar. 31, 217 15.48.21 (.44) 1.91 1.7 2.75 - (.12) (.8) - (.92) 17.29 Mar. 31, 216 16.87.23 (.4) 1.2 (1.63) (.6) - (.9) (.68) - (.77) 15.48 Mar. 31, 215 15.85.23 (.41) 1.8.3 1.92 - (.11) (.78) - (.89) 16.87 Mar. 31, 214 13.16.22 (.36) 2.41.73 3. - (.26) - - (.26) 15.85 Mar. 31, 213^ 1.97.2 (.28) 1.17 1.43 2.52 - (.11) - - (.11) 13.15 A1 Shares Sept. 3, 217 1..8 (.11).22 (.23) (.4) - - - - - 9.81 A2 Shares Sept. 3, 217 1..8 (.11).23 (.41) (.21) - - - - - 9.81 A3 Shares Sept. 3, 217 1..8 (.11).22 (.39) (.2) - - - - - 9.81 A4 Shares Sept. 3, 217 1..8 (.1).19 (.31) (.14) - - - - - 9.82 A5 Shares Sept. 3, 217 1..8 (.1).2 (.28) (.1) - - - - - 9.82 *Footnotes for the tables are found at the end of the Net Assets per Share section of the Financial Highlights.
Report of Fund Performance for ended September 3, 217 Net Assets per Share ($) (1) (2) (5) * Increase (decrease) from operations: Dividends: Realized Unrealized increase net investment Net assets Net assets at the beginning of period (2) revenue expenses distributions) (decrease) from operations (2) income ) capital Return of capital (2, 3) at the end of shown (2) $ $ $ $ $ $ $ $ $ $ $ $ AT5 Shares Commencement of operations January 7, 28 Sept. 3, 217 11.2.9 (.15).39 (.22).11 - - - (.3) (.3) 11.1 Mar. 31, 217 1.54.14 (.29) 1.28.66 1.79 - (.8) (.52) (.57) (1.17) 11.2 Mar. 31, 216 12.11.16 (.28).86 (1.28) (.54) - (.6) (.46) (.6) (1.12) 1.54 Mar. 31, 215 11.93.17 (.3) 1.33.24 1.44 - (.8) (.56) (.58) (1.22) 12.11 Mar. 31, 214 1.36.17 (.28) 1.79.67 2.35 - (.2) - (.5) (.7) 11.93 Mar. 31, 213^ 9.5.16 (.23).96 1.18 2.7 - (.9) - (.44) (.53) 1.35 A1T5 Shares Sept. 3, 217 1..9 (.12).19 (.9).7 - - - (.21) (.21) 9.6 A2T5 Shares Sept. 3, 217 1..7 (.11).27 (.42) (.19) - - - (.21) (.21) 9.6 A3T5 Shares Sept. 3, 217 1..9 (.11).29 (.8).19 - - - (.21) (.21) 9.6 AT6 Shares Commencement of operations September 9, 212 Sept. 3, 217 11.58.8 (.16).4 (.3).2 - - - (.37) (.37) 11.31 Mar. 31, 217 11.1.14 (.31) 1.26.86 1.95 - (.8) (.54) (.71) (1.33) 11.58 Mar. 31, 216 12.79.17 (.3).91 (1.31) (.53) - (.7) (.48) (.77) (1.32) 11.1 Mar. 31, 215 12.72.17 (.32) 1.42 (.11) 1.16 - (.8) (.59) (.75) (1.42) 12.79 Mar. 31, 214 11.14.17 (.29) 2.11.47 2.46 - (.21) - (.64) (.85) 12.72 Mar. 31, 213^ 1..8 (.14).9.75 1.59 - (.9) - (.37) (.46) 11.13 AT8 Shares Commencement of operations January 7, 28 Sept. 3, 217 8.44.6 (.11).29 (.17).7 - - - (.36) (.36) 8.16 Mar. 31, 217 8.19.11 (.22).98.52 1.39 - (.6) (.39) (.71) (1.16) 8.44 Mar. 31, 216 9.72.13 (.22).68 (.91) (.32) - (.5) (.36) (.78) (1.19) 8.19 Mar. 31, 215 9.86.14 (.24) 1.8.19 1.17 - (.6) (.45) (.77) (1.28) 9.72 Mar. 31, 214 8.79.14 (.23) 1.53.52 1.96 - (.16) - (.68) (.84) 9.86 Mar. 31, 213^ 7.92.14 (.2).76 1. 1.7 - (.7) - (.62) (.69) 8.79 *Footnotes for the tables are found at the end of the Net Assets per Share section of the Financial Highlights.
Report of Fund Performance for ended September 3, 217 Net Assets per Share ($) (1) (2) (5) * Increase (decrease) from operations: Dividends: Realized Unrealized increase net investment Net assets Net assets at the beginning of period (2) revenue expenses distributions) (decrease) from operations (2) income ) capital Return of capital (2, 3) at the end of shown (2) $ $ $ $ $ $ $ $ $ $ $ $ A1T8 Shares Sept. 3, 217 1..1 (.12).16.15.29 - - - (.33) (.33) 9.47 A2T8 Shares Sept. 3, 217 1..8 (.11).25 (.3) (.8) - - - (.33) (.33) 9.47 A3T8 Shares Sept. 3, 217 1..7 (.1).22 (.5) (.31) - - - (.33) (.33) 9.47 A4T8 Shares Sept. 3, 217 1..7 (.1).26 (.44) (.21) - - - (.33) (.33) 9.48 A5T8 Shares Sept. 3, 217 1..7 (.9).26 (.41) (.17) - - - (.33) (.33) 9.48 D Shares Commencement of operations September 9, 212 Sept. 3, 217 15.45.12 (.18).54 (.3).18 - - - - - 15.62 Mar. 31, 217 13.77.18 (.34) 1.67 1.2 2.53 - (.11) (.72) - (.83) 15.45 Mar. 31, 216 14.96.2 (.3) 1.9 (1.51) (.52) - (.8) (.6) - (.68) 13.77 Mar. 31, 215 14..2 (.3) 1.59.21 1.7 - (.1) (.69) - (.79) 14.96 Mar. 31, 214 11.58.19 (.26) 2.14.58 2.65 - (.23) - - (.23) 14. Mar. 31, 213^ 1..9 (.12).91.77 1.65 - (.9) - - (.9) 11.56 *Footnotes for the tables are found at the end of the Net Assets per Share section of the Financial Highlights.
Report of Fund Performance for ended September 3, 217 Net Assets per Share ($) (1) (2) (5) * Increase (decrease) from operations: Dividends: Realized Unrealized increase net investment Net assets Net assets at the beginning of period (2) revenue expenses distributions) (decrease) from operations (2) income ) capital Return of capital (2, 3) at the end of shown (2) $ $ $ $ $ $ $ $ $ $ $ $ E Shares Commencement of operations October 4, 211 Sept. 3, 217 18.23.15 (.24).62 (.34).19 - - - - - 18.41 Mar. 31, 217 16.3.22 (.45) 2.5.99 2.81 - (.13) (.84) - (.97) 18.23 Mar. 31, 216 17.75.25 (.4) 1.23 (1.62) (.54) - (.1) (.72) - (.82) 16.3 Mar. 31, 215 16.67.24 (.41) 1.9.28 2.1 - (.12) (.82) - (.94) 17.75 Mar. 31, 214 13.82.24 (.36) 2.46.92 3.26 - (.27) - - (.27) 16.67 Mar. 31, 213^ 11.52.21 (.3) 2.1 2.2 3.94 - (.11) - - (.11) 13.8 EF Shares Commencement of operations December 5, 214 Sept. 3, 217 1.55.8 (.8).36 (.21).15 - - - - - 1.71 Mar. 31, 217 9.33.13 (.14) 1.22.48 1.69 - (.8) (.49) - (.57) 1.55 Mar. 31, 216 1.4.14 (.12).6 (.81) (.19) - (.5) (.41) - (.46) 9.33 Mar. 31, 215 1..6 (.4).29.24.55 - (.7) (.45) - (.52) 1.4 EFT5 Shares Commencement of operations July 29, 215 Sept. 3, 217 9.66.7 (.7).34 (.26).8 - - - (.25) (.25) 9.55 Mar. 31, 217 8.97.12 (.13) 1.18.38 1.55 - (.7) (.45) (.48) (1.) 9.66 Mar. 31, 216 1..1 (.7).19 (.2).2 - (.5) (.39) (.33) (.77) 8.97 EFT8 Shares Commencement of operations December 5, 214 Sept. 3, 217 8.71.8 (.7).25 (.6).2 - - - (.37) (.37) 8.47 Mar. 31, 217 8.35.11 (.12) 1.8.35 1.42 - (.6) (.4) (.72) (1.18) 8.71 Mar. 31, 216 9.78.13 (.11).57 (.74) (.15) - (.5) (.37) (.78) (1.2) 8.35 Mar. 31, 215 1..4 (.4).31.87 1.18 - (.6) (.45) (.27) (.78) 9.78 ET5 Shares Commencement of operations October 4, 211 Sept. 3, 217 13.96.11 (.18).47 (.29).11 - - - (.37) (.37) 13.72 Mar. 31, 217 13.12.18 (.35) 1.63.56 2.2 - (.1) (.65) (.71) (1.46) 13.96 Mar. 31, 216 15.5.2 (.33) 1.1 (1.63) (.66) - (.8) (.58) (.75) (1.41) 13.12 Mar. 31, 215 14.82.21 (.36) 1.61.36 1.82 - (.1) (.69) (.73) (1.52) 15.5 Mar. 31, 214 12.85.22 (.33) 2.24.71 2.84 - (.24) - (.62) (.86) 14.82 Mar. 31, 213^ 11.22.3 (.28) 2.15 (1.8) 1.9 - (.11) - (.55) (.66) 12.84 ET8 Shares Commencement of operations October 4, 211 Sept. 3, 217 11.84.8 (.15).42 (.37) (.2) - - - (.5) (.5) 11.45 Mar. 31, 217 11.48.16 (.3) 1.38.49 1.73 - (.9) (.55) (.99) (1.63) 11.84 Mar. 31, 216 13.61.19 (.29).83 (.99) (.26) - (.7) (.5) (1.9) (1.66) 11.48 Mar. 31, 215 13.79.19 (.33) 1.44.71 2.1 - (.9) (.63) (1.8) (1.8) 13.61 Mar. 31, 214 12.3.19 (.32) 2.77 (.72) 1.92 - (.23) - (.95) (1.18) 13.79 Mar. 31, 213^ 11.7.2 (.27) 1.35 1.84 3.12 - (.1) - (.87) (.97) 12.28 *Footnotes for the tables are found at the end of the Net Assets per Share section of the Financial Highlights.
Report of Fund Performance for ended September 3, 217 Net Assets per Share ($) (1) (2) (5) * Increase (decrease) from operations: Dividends: Realized Unrealized increase net investment Net assets Net assets at the beginning of period (2) revenue expenses distributions) (decrease) from operations (2) income ) capital Return of capital (2, 3) at the end of shown (2) $ $ $ $ $ $ $ $ $ $ $ $ F Shares Commencement of operations January 7, 28 Sept. 3, 217 19.56.15 (.16).68 (.4).27 - - - - - 19.85 Mar. 31, 217 17.32.24 (.29) 2.22 1. 3.17 - (.14) (.91) - (1.5) 19.56 Mar. 31, 216 18.67.26 (.24) 1.28 (1.76) (.46) - (.1) (.76) - (.86) 17.32 Mar. 31, 215 17.35.25 (.24) 2.1.32 2.34 - (.12) (.86) - (.98) 18.67 Mar. 31, 214 14.25.24 (.21) 2.59.86 3.48 - (.28) - - (.28) 17.35 Mar. 31, 213^ 11.75.21 (.17) 1.25 1.55 2.84 - (.12) - - (.12) 14.23 F1 Shares Sept. 3, 217 1..1 (.8).17.13.32 - - - - - 9.85 F2 Shares Sept. 3, 217 1..12 (.8).17.48.69 - - - - - 9.86 F3 Shares Sept. 3, 217 1..11 (.7).13.41.58 - - - - - 9.86 F4 Shares Sept. 3, 217 1..8 (.6).11 (.8).5 - - - - - 9.86 F5 Shares Sept. 3, 217 1..1 (.7).2.86 1.9 - - - - - 9.87 *Footnotes for the tables are found at the end of the Net Assets per Share section of the Financial Highlights.
Report of Fund Performance for ended September 3, 217 Net Assets per Share ($) (1) (2) (5) * Increase (decrease) from operations: Dividends: Realized Unrealized increase net investment Net assets Net assets at the beginning of period (2) revenue expenses distributions) (decrease) from operations (2) income ) capital Return of capital (2, 3) at the end of shown (2) $ $ $ $ $ $ $ $ $ $ $ $ FT5 Shares Commencement of operations January 7, 28 Sept. 3, 217 12.35.1 (.1).43 (.27).16 - - - (.32) (.32) 12.21 Mar. 31, 217 11.49.15 (.19) 1.45.64 2.5 - (.9) (.57) (.62) (1.28) 12.35 Mar. 31, 216 13.5.18 (.17).91 (1.22) (.3) - (.7) (.5) (.65) (1.22) 11.49 Mar. 31, 215 12.71.18 (.18) 1.47.15 1.62 - (.9) (.6) (.62) (1.31) 13.5 Mar. 31, 214 1.91.18 (.16) 1.95.71 2.68 - (.21) - (.53) (.74) 12.71 Mar. 31, 213^ 9.43.17 (.13).93 1.8 2.5 - (.9) - (.46) (.55) 1.9 F1T5 Shares Sept. 3, 217 1..12 (.8).16.54.74 - - - (.21) (.21) 9.64 F2T5 Shares Sept. 3, 217 1..7 (.6).27 (.42) (.14) - - - (.21) (.21) 9.64 F3T5 Shares Sept. 3, 217 1..7 (.6).27 (.42) (.14) - - - (.21) (.21) 9.65 FT8 Shares Commencement of operations December 12, 29 Sept. 3, 217 11.25.9 (.9).36 (.16).2 - - - (.48) (.48) 1.93 Mar. 31, 217 1.8.14 (.17) 1.31.66 1.94 - (.8) (.52) (.93) (1.53) 11.25 Mar. 31, 216 12.67.17 (.16).92 (1.3) (.37) - (.6) (.47) (1.1) (1.54) 1.8 Mar. 31, 215 12.71.18 (.18) 1.45.21 1.66 - (.8) (.58) (1.) (1.66) 12.67 Mar. 31, 214 11.21.2 (.17) 1.87.96 2.86 - (.21) - (.87) (1.8) 12.71 Mar. 31, 213^ 9.97.18 (.14).9 1.16 2.1 - (.9) - (.78) (.87) 11.2 F1T8 Shares Sept. 3, 217 1..12 (.8).17.72.93 - - - (.33) (.33) 9.52 *Footnotes for the tables are found at the end of the Net Assets per Share section of the Financial Highlights.
Report of Fund Performance for ended September 3, 217 Net Assets per Share ($) (1) (2) (5) * Increase (decrease) from operations: Dividends: Realized Unrealized increase net investment Net assets Net assets at the beginning of period (2) revenue expenses distributions) (decrease) from operations (2) income ) capital Return of capital (2, 3) at the end of shown (2) $ $ $ $ $ $ $ $ $ $ $ $ F2T8 Shares Sept. 3, 217 1..7 (.6).26 (.4) (.13) - - - (.33) (.33) 9.51 F3T8 Shares Sept. 3, 217 1..7 (.6).26 (.41) (.14) - - - (.33) (.33) 9.52 F4T8 Shares Sept. 3, 217 1..7 (.5).26 (.41) (.13) - - - (.33) (.33) 9.52 - F5T8 Shares Sept. 3, 217 1..7 (.5).26 (.41) (.13) - - - (.33) (.33) 9.53 I Shares Commencement of operations April 2, 28 Sept. 3, 217 21.14.17 (.3).73 (.42).45 - - - - - 21.6 Mar. 31, 217 18.47.25 (.3) 2.21 1.52 3.95 - (.15) (.98) - (1.13) 21.14 Mar. 31, 216 19.65.28-1.38 (1.87) (.21) - (.11) (.81) - (.92) 18.47 Mar. 31, 215 18.2.26-2.6.39 2.71 - (.13) (.91) - (1.4) 19.65 Mar. 31, 214 14.6.24-2.72.79 3.75 - (.29) - - (.29) 18.2 Mar. 31, 213^ 11.88.22-1.29 1.6 3.11 - (.12) - - (.12) 14.58 IT5 Shares Commencement of operations February 17, 212 Sept. 3, 217 16..12 (.2).56 (.32).34 - - - (.42) (.42) 15.92 Mar. 31, 217 14.69.2 (.2) 1.92.79 2.89 - (.12) (.74) (.79) (1.65) 16. Mar. 31, 216 16.45.22-1.17 (1.61) (.22) - (.9) (.64) (.82) (1.55) 14.69 Mar. 31, 215 15.81.22-1.76.35 2.33 - (.11) (.76) (.77) (1.64) 16.45 Mar. 31, 214 13.38.23-2.56.44 3.23 - (.26) - (.65) (.91) 15.81 Mar. 31, 213^ 11.41.2-1. 1.44 2.64 - (.11) - (.56) (.67) 13.37 *Footnotes for the tables are found at the end of the Net Assets per Share section of the Financial Highlights.
Report of Fund Performance for ended September 3, 217 Net Assets per Share ($) (1) (2) (5) * Increase (decrease) from operations: Dividends: Realized Unrealized increase net investment Net assets Net assets at the beginning of period (2) revenue expenses distributions) (decrease) from operations (2) income ) capital Return of capital (2, 3) at the end of shown (2) $ $ $ $ $ $ $ $ $ $ $ $ IT8 Shares Commencement of operations February 17, 212 Sept. 3, 217 11.99.1 (.2).4 (.23).25 - - - (.51) (.51) 11.73 Mar. 31, 217 11.35.15 (.2) 1.43.69 2.25 - (.9) (.55) (.98) (1.62) 11.99 Mar. 31, 216 13.12.18 -.82 (1.19) (.19) - (.7) (.5) (1.5) (1.62) 11.35 Mar. 31, 215 12.97.19-1.54.19 1.92 - (.8) (.59) (1.2) (1.69) 13.12 Mar. 31, 214 11.28.19-2.7.66 2.92 - (.21) - (.87) (1.8) 12.97 Mar. 31, 213^ 9.89.19-1.8 1.21 2.48 - (.9) - (.77) (.86) 11.27 O Shares Commencement of operations October 4, 211 Sept. 3, 217 2.57.17 (.5).71 (.39).44 - - - - - 2.99 Mar. 31, 217 18..25 (.6) 2.31 1.4 3.54 - (.15) (.95) - (1.1) 2.57 Mar. 31, 216 19.18.27 (.3) 1.33 (1.81) (.24) - (.11) (.79) - (.9) 18. Mar. 31, 215 17.62.26 (.3) 2.8.37 2.68 - (.13) (.88) - (1.1) 19.18 Mar. 31, 214 14.3.25 (.3) 2.62.92 3.76 - (.28) - - (.28) 17.62 Mar. 31, 213^ 11.65.23 (.2) 1.91 1.78 3.9 - (.12) - - (.12) 14.28 OT5 Shares Commencement of operations October 4, 211 Sept. 3, 217 15.83.12 (.4).49 (.28).29 - - - (.41) (.41) 15.74 Mar. 31, 217 14.56.19 (.5) 1.8.99 2.93 - (.11) (.73) (.79) (1.63) 15.83 Mar. 31, 216 16.33.22 (.3) 1.27 (1.64) (.18) - (.9) (.64) (.82) (1.55) 14.56 Mar. 31, 215 15.72.23 (.3) 1.75.44 2.39 - (.11) (.75) (.77) (1.63) 16.33 Mar. 31, 214 13.34.22 (.3) 2.35.82 3.36 - (.26) - (.65) (.91) 15.72 Mar. 31, 213^ 11.38.23 (.2) 2.38 2.2 4.79 - (.11) - (.56) (.67) 13.32 OT8 Shares Commencement of operations October 4, 211 Sept. 3, 217 13.49.11 (.3).45 (.27).26 - - - (.57) (.57) 13.19 Mar. 31, 217 12.79.16 (.4) 1.56 1.1 2.69 - (.1) (.62) (1.1) (1.82) 13.49 Mar. 31, 216 14.8.2 (.2) 1.6 (1.77) (.53) - (.8) (.56) (1.18) (1.82) 12.79 Mar. 31, 215 14.66.22 (.2) 1.69.17 2.6 - (.1) (.68) (1.15) (1.93) 14.8 Mar. 31, 214 12.78.22 (.2) 2.37.29 2.86 - (.24) - (.98) (1.22) 14.66 Mar. 31, 213^ 11.22.21 (.2) 1.39 1.89 3.47 - (.11) - (.87) (.98) 12.76 P Shares Sept. 3, 217 1..11 (.4).12.2.39 - - - - - 9.89 PT5 Shares Sept. 3, 217 1..7 (.2).27 (.42) (.1) - - - (.21) (.21) 9.68 *Footnotes for the tables are found at the end of the Net Assets per Share section of the Financial Highlights.
Report of Fund Performance for ended September 3, 217 Net Assets per Share ($) (1) (2) (5) Increase (decrease) from operations: Dividends: Realized Unrealized increase net investment Net assets Net assets at the beginning of period (2) revenue expenses distributions) (decrease) from operations (2) income ) capital Return of capital (2, 3) at the end of shown (2) $ $ $ $ $ $ $ $ $ $ $ $ PT8 Shares Sept. 3, 217 1..7 (.2).26 (.41) (.1) - - - (.33) (.33) 9.56 W Shares Commencement of operations July 27, 217 Sept. 3, 217 1..5 (.2).6.24.33 - - - - - 1.33 WT8 Shares Commencement of operations July 27, 217 Sept. 3, 217 1..5 (.2).6.24.33 - - - (.13) (.13) 1.19 Y Shares Commencement of operations July 31, 213 Sept. 3, 217 12.87.1 (.1).44 (.25).19 - - - - - 13.7 Mar. 31, 217 11.39.15 (.18) 1.41.81 2.19 - (.9) (.6) - (.69) 12.87 Mar. 31, 216 12.27.17 (.15).97 (1.33) (.34) - (.7) (.5) - (.57) 11.39 Mar. 31, 215 11.39.16 (.15) 1.29.19 1.49 - (.8) (.57) - (.65) 12.27 Mar. 31, 214 1..12 (.9).95.55 1.53 - (.19) - - (.19) 11.39 Z Shares Commencement of operations July 31, 213 Sept. 3, 217 12.35.1 (.17).44 (.25).12 - - - - - 12.47 Mar. 31, 217 11.5.15 (.31) 1.34.81 1.99 - (.9) (.57) - (.66) 12.35 Mar. 31, 216 12.4.16 (.28).89 (1.24) (.47) - (.7) (.49) - (.56) 11.5 Mar. 31, 215 11.31.16 (.28) 1.27.21 1.36 - (.8) (.56) - (.64) 12.4 Mar. 31, 214 1..12 (.17).96.57 1.48 - (.18) - - (.18) 11.31 (1) This information is derived from the Fund s semi-annual and annual financial statements. (2) Net assets per share and per share are based on the actual number of shares outstanding for the relevant class at the relevant time. The increase (decrease) in net assets from operations per share is based on the weighted average number of shares outstanding for the relevant class over the fiscal period. (3) Dividends are automatically reinvested in additional shares of the Fund.
Report of Fund Performance for ended September 3, 217 Ratios and Supplemental Data (1) (5) * Number of shares outstanding (5) before taxes (2) after taxes (2) Effective HST rate for the period (%) (2) net Harmonized Trading Portfolio assets (5) sales tax (2) (3) turnover rate (4) $ s s % % % % % % A Shares Commencement of operations January 7, 28 Sept. 3, 217 2,515,738 144,148 2.2.24 2.44 1.82.11 49.44 Mar. 31, 217 2,817,347 162,926 2.2.24 2.44 1.77.15 118.27 Mar. 31, 216 2,57,719 162,4 2.21.24 2.45 1.74.16 158.84 Mar. 31, 215 2,612,699 154,843 2.2.24 2.44 1.75.13 14.81 Mar. 31, 214 2,143,244 135,179 2.2.24 2.44 1.69.24 178.96 Mar. 31, 213^ 1,399,941 16,346 2.2.24 2.44 1.15.58 238.31 A1 Shares Sept. 3, 217 16,81 16,32 2.12.24 2.36 13..11 49.44 A2 Shares Sept. 3, 217 91,956 9,374 2.9.23 2.32 13..11 49.44 A3 Shares Sept. 3, 217 48,778 4,97 2..22 2.22 13..11 49.44 A4 Shares Sept. 3, 217 7,767 791 1.92.19 2.11 13..11 49.44 A5 Shares Sept. 3, 217 3,678 374 1.8.21 2.1 13..11 49.44 *Footnotes for the tables are found at the end of the Financial Highlights section.
Report of Fund Performance for ended September 3, 217 Ratios and Supplemental Data (1) (5) * net assets (5) Number of shares outstanding (5) before taxes (2) Harmonized sales tax (2) after taxes (2) Effective HST rate for the period (%) (2) Trading (3) Portfolio turnover rate (4) $ s s % % % % % % AT5 Shares Commencement of operations January 7, 28 Sept. 3, 217 11,579 1,52 2.2.24 2.44 1.75.11 49.44 Mar. 31, 217 14,89 1,258 2.2.23 2.43 1.53.15 118.27 Mar. 31, 216 1,63 1,9 2.21.23 2.44 1.47.16 158.84 Mar. 31, 215 14,11 1,165 2.2.26 2.46 11.83.13 14.81 Mar. 31, 214 1,335 866 2.19.27 2.46 12.2.24 178.96 Mar. 31, 213^ 3,481 336 2.2.26 2.46 11.11.58 238.31 A1T5 Shares Sept. 3, 217 2,434 254 2.12.25 2.37 13..11 49.44 A2T5 Shares Sept. 3, 217 421 44 2.9.29 2.38 13..11 49.44 A3T5 Shares Sept. 3, 217 2 2 2..27 2.27 13..11 49.44 AT6 Shares Commencement of operations September 9, 212 Sept. 3, 217 99 9 2.2.25 2.45 11.24.11 49.44 Mar. 31, 217 126 11 2.2.27 2.47 12.8.15 118.27 Mar. 31, 216 162 15 2.21.27 2.48 12.1.16 158.84 Mar. 31, 215 232 18 2.2.26 2.46 11.93.13 14.81 Mar. 31, 214 458 36 2.2.23 2.43 1.26.24 178.96 Mar. 31, 213^ 49 44 2.2.21 2.41 1.65.58 238.31 AT8 Shares Commencement of operations January 7, 28 Sept. 3, 217 2,725 2,541 2.2.22 2.42 9.89.11 49.44 Mar. 31, 217 23,779 2,818 2.2.23 2.43 1.39.15 118.27 Mar. 31, 216 18,463 2,255 2.21.23 2.44 1.24.16 158.84 Mar. 31, 215 19,169 1,972 2.2.22 2.42 9.87.13 14.81 Mar. 31, 214 16,684 1,692 2.2.2 2.4 9.3.24 178.96 Mar. 31, 213^ 8,12 923 2.2.26 2.46 11.33.58 238.31 *Footnotes for the tables are found at the end of the Financial Highlights section.
Report of Fund Performance for ended September 3, 217 Ratios and Supplemental Data (1) (5) * net assets (5) Number of shares outstanding (5) before taxes (2) Harmonized sales tax (2) after taxes (2) Effective HST rate for the period (%) (2) Trading (3) Portfolio turnover rate (4) $ s s % % % % % % A1T8 Shares Sept. 3, 217 4,434 468 2.13.28 2.41 13..11 49.44 A2T8 Shares Sept. 3, 217 1,379 146 2.9.27 2.36 13..11 49.44 A3T8 Shares Sept. 3, 217 25 22 2..27 2.27 13..11 49.44 A4T8 Shares Sept. 3, 217 5 5 1.89.24 2.13 13..11 49.44 A5T8 Shares Sept. 3, 217 1 1 1.81.23 2.4 13..11 49.44 D Shares Commencement of operations September 9, 212 Sept. 3, 217 4,314 276 1.85.2 2.5 1.58.11 49.44 Mar. 31, 217 4,572 296 1.85.2 2.5 1.58.15 118.27 Mar. 31, 216 4,713 342 1.85.19 2.4 1.5.16 158.84 Mar. 31, 215 5,718 382 1.85.19 2.4 1.47.13 14.81 Mar. 31, 214 6,44 432 1.85.19 2.4 1.34.24 178.96 Mar. 31, 213^ 5,486 474 1.85.2 2.5 1.65.58 238.31 *Footnotes for the tables are found at the end of the Financial Highlights section.
Report of Fund Performance for ended September 3, 217 Ratios and Supplemental Data (1) (5) * net assets (5) Number of shares outstanding (5) before taxes (2) Harmonized sales tax (2) after taxes (2) Effective HST rate for the period (%) (2) Trading (3) Portfolio turnover rate (4) $ s s % % % % % % E Shares Commencement of operations October 4, 211 Sept. 3, 217 96,951 5,267 2.1.24 2.34 11.23.11 49.44 Mar. 31, 217 86,718 4,757 2.1.24 2.34 11.28.15 118.27 Mar. 31, 216 54,41 3,337 2.1.24 2.34 11.33.16 158.84 Mar. 31, 215 38,778 2,184 2.1.25 2.35 12.13.13 14.81 Mar. 31, 214 26,376 1,583 2.9.21 2.3 9.88.24 178.96 Mar. 31, 213^ 5,812 421 2.1.27 2.37 1.65.58 238.31 EF Shares Commencement of operations December 5, 214 Sept. 3, 217 77,921 7,276 1.1.12 1.22 1.99.11 49.44 Mar. 31, 217 67,182 6,37 1.1.12 1.22 11.22.15 118.27 Mar. 31, 216 28,934 3,12 1.1.13 1.23 12.57.16 158.84 Mar. 31, 215 12,687 1,263 1.1.14 1.24 13..13 14.81 EFT5 Shares Commencement of operations July 29, 215 Sept. 3, 217 1,66 112 1.1.12 1.22 11.9.11 49.44 Mar. 31, 217 1,91 113 1.1.8 1.18 6.67.15 118.27 Mar. 31, 216 333 37 1.1.6 1.16 11.6.16 158.84 EFT8 Shares Commencement of operations December 5, 214 Sept. 3, 217 1,888 223 1.1.14 1.24 12.56.11 49.44 Mar. 31, 217 775 89 1.1.13 1.23 11.97.15 118.27 Mar. 31, 216 146 17 1.1.14 1.24 12.7.16 158.84 Mar. 31, 215 115 12 1.1.14 1.24 13..13 14.81 ET5 Shares Commencement of operations October 4, 211 Sept. 3, 217 2,96 212 2.1.23 2.33 11.6.11 49.44 Mar. 31, 217 2,91 28 2.1.21 2.31 9.8.15 118.27 Mar. 31, 216 1,473 112 2.11.22 2.33 1.4.16 158.84 Mar. 31, 215 1,579 15 2.1.27 2.37 12.59.13 14.81 Mar. 31, 214 1,393 94 2.9.27 2.36 13.5.24 178.96 Mar. 31, 213^ 261 2 2.1.28 2.38 1.65.58 238.31 ET8 Shares Commencement of operations October 4, 211 Sept. 3, 217 1,34 117 2.1.26 2.36 12.45.11 49.44 Mar. 31, 217 2,326 196 2.1.23 2.33 1.24.15 118.27 Mar. 31, 216 912 79 2.1.18 2.28 8.55.16 158.84 Mar. 31, 215 457 34 2.1.23 2.33 11.81.13 14.81 Mar. 31, 214 175 13 2.7.27 2.34 13..24 178.96 Mar. 31, 213^ 12 1 2.1.28 2.38 1.65.58 238.31 *Footnotes for the tables are found at the end of the Financial Highlights section.
Report of Fund Performance for ended September 3, 217 Ratios and Supplemental Data (1) (5) * net assets (5) Number of shares outstanding (5) before taxes (2) Harmonized sales tax (2) after taxes (2) Effective HST rate for the period (%) (2) Trading (3) Portfolio turnover rate (4) $ s s % % % % % % F Shares Commencement of operations January 7, 28 Sept. 3, 217 321,534 16,195 1.2.14 1.34 11.37.11 49.44 Mar. 31, 217 299,821 15,325 1.2.14 1.34 11.32.15 118.27 Mar. 31, 216 17,671 9,853 1.2.13 1.33 11.5.16 158.84 Mar. 31, 215 133,62 7,156 1.2.13 1.33 1.84.13 14.81 Mar. 31, 214 85,433 4,924 1.2.13 1.33 11.12.24 178.96 Mar. 31, 213^ 37,61 2,64 1.2.14 1.34 11.23.58 238.31 F1 Shares Sept. 3, 217 11,847 1,22 1.13.13 1.26 13..11 49.44 F2 Shares Sept. 3, 217 4,529 459 1.9.15 1.24 13..11 49.44 F3 Shares Sept. 3, 217 3,378 343 1..11 1.11 13..11 49.44 F4 Shares Sept. 3, 217 189 19.92.12 1.4 13..11 49.44 F5 Shares Sept. 3, 217 117 12.77.8.85 13..11 49.44 *Footnotes for the tables are found at the end of the Financial Highlights section.
Report of Fund Performance for ended September 3, 217 Ratios and Supplemental Data (1) (5) * net assets (5) Number of shares outstanding (5) before taxes (2) Harmonized sales tax (2) after taxes (2) Effective HST rate for the period (%) (2) Trading (3) Portfolio turnover rate (4) $ s s % % % % % % FT5 Shares Commencement of operations January 7, 28 Sept. 3, 217 6,417 526 1.2.15 1.35 12.33.11 49.44 Mar. 31, 217 6,16 487 1.2.14 1.34 11.89.15 118.27 Mar. 31, 216 3,749 326 1.2.14 1.34 11.89.16 158.84 Mar. 31, 215 3,574 274 1.2.13 1.33 11.8.13 14.81 Mar. 31, 214 1,924 151 1.2.15 1.35 12.44.24 178.96 Mar. 31, 213^ 46 37 1.2.16 1.36 11..58 238.31 F1T5 Shares Sept. 3, 217 232 24 1.13.6 1.19 13..11 49.44 F2T5 Shares Sept. 3, 217 1 1 1.9.15 1.24 13..11 49.44 F3T5 Shares Sept. 3, 217 1 1 1..14 1.14 13..11 49.44 FT8 Shares Commencement of operations December 12, 29 Sept. 3, 217 3,462 317 1.2.15 1.35 12.48.11 49.44 Mar. 31, 217 2,672 238 1.2.15 1.35 12.73.15 118.27 Mar. 31, 216 2,216 25 1.2.15 1.35 12.79.16 158.84 Mar. 31, 215 2,972 235 1.2.16 1.36 13.2.13 14.81 Mar. 31, 214 1,443 114 1.19.16 1.35 13.2.24 178.96 Mar. 31, 213^ 87 8 1.2.16 1.36 13..58 238.31 F1T8 Shares Sept. 3, 217 496 52 1.13.6 1.19 13..11 49.44 - *Footnotes for the tables are found at the end of the Financial Highlights section.
Report of Fund Performance for ended September 3, 217 Ratios and Supplemental Data (1) (5) * net assets (5) Number of shares outstanding (5) before taxes (2) Harmonized sales tax (2) after taxes (2) Effective HST rate for the period (%) (2) Trading (3) Portfolio turnover rate (4) $ s s % % % % % % F2T8 Shares Sept. 3, 217 11 1 1.9.15 1.24 13..11 49.44 F3T8 Shares Sept. 3, 217 1 1 1..14 1.14 13..11 49.44 F4T8 Shares Sept. 3, 217 1 1.92.11 1.3 13..11 49.44 F5T8 Shares Sept. 3, 217 1 1.81.9.9 13..11 49.44 I Shares Commencement of operations April 2, 28 Sept. 3, 217 1,347,467 62,381 - - - -.11 49.44 Mar. 31, 217 1,297,171 61,35 - - - -.15 118.27 Mar. 31, 216 1,317,427 71,318 - - - -.16 158.84 Mar. 31, 215 1,14,729 56,223 - - - -.13 14.81 Mar. 31, 214 9,393 49,97 - - - -.24 178.96 Mar. 31, 213^ 619,27 42,42 - - - -.58 238.31 IT5 Shares Commencement of operations February 17, 212 Sept. 3, 217 583 37 - - - -.11 49.44 Mar. 31, 217 59 37 - - - -.15 118.27 Mar. 31, 216 358 24 - - - -.16 158.84 Mar. 31, 215 398 24 - - - -.13 14.81 Mar. 31, 214 357 23 - - - -.24 178.96 Mar. 31, 213^ 138 1 - - - -.58 238.31 *Footnotes for the tables are found at the end of the Financial Highlights section.
Report of Fund Performance for ended September 3, 217 Ratios and Supplemental Data (1) (5) * net assets (5) Number of shares outstanding (5) before taxes (2) Harmonized sales tax (2) after taxes (2) Effective HST rate for the period (%) (2) Trading (3) Portfolio turnover rate (4) $ s s % % % % % % IT8 Shares Commencement of operations February 17, 212 Sept. 3, 217 5,362 457 - - - -.11 49.44 Mar. 31, 217 4,71 392 - - - -.15 118.27 Mar. 31, 216 3,141 277 - - - -.16 158.84 Mar. 31, 215 2,176 166 - - - -.13 14.81 Mar. 31, 214 1,112 86 - - - -.24 178.96 Mar. 31, 213^ 261 23 - - - -.58 238.31 O Shares Commencement of operations October 4, 211 Sept. 3, 217 177,167 8,439.15.2.17 1.48.11 49.44 Mar. 31, 217 163,44 7,927.15.2.17 11.21.15 118.27 Mar. 31, 216 11,562 5,642.15.2.17 11.77.16 158.84 Mar. 31, 215 79,472 4,144.15.2.17 11.95.13 14.81 Mar. 31, 214 48,695 2,764.15.2.17 13.12.24 178.96 Mar. 31, 213^ 17,195 1,23.15.2.17 1.65.58 238.31 OT5 Shares Commencement of operations October 4, 211 Sept. 3, 217 4,69 298.15.2.17 13.92.11 49.44 Mar. 31, 217 3,916 247.15.2.17 13.63.15 118.27 Mar. 31, 216 3,696 254.15.2.17 12.69.16 158.84 Mar. 31, 215 4,651 285.15.2.17 13.1.13 14.81 Mar. 31, 214 2,338 149.15.2.17 13.8.24 178.96 Mar. 31, 213^ 554 42.15.2.17 1.65.58 238.31 OT8 Shares Commencement of operations October 4, 211 Sept. 3, 217 4,449 337.15.2.17 11.88.11 49.44 Mar. 31, 217 3,197 237.15.2.17 12.17.15 118.27 Mar. 31, 216 3,324 26.15.2.17 11.81.16 158.84 Mar. 31, 215 4,1 277.15.1.16 9.44.13 14.81 Mar. 31, 214 1,531 14.15.2.17 11.92.24 178.96 Mar. 31, 213^ 13 1.15.3.18 1.65.58 238.31 P Shares Sept. 3, 217 1,32 14.2.2.22 13..11 49.44 PT5 Shares Sept. 3, 217 1 1.2.3.23 13..11 49.44 *Footnotes for the tables are found at the end of the Financial Highlights section.
Report of Fund Performance for ended September 3, 217 Ratios and Supplemental Data (1) (5) * net assets (5) Number of shares outstanding (5) before taxes (2) Harmonized sales tax (2) after taxes (2) Effective HST rate for the period (%) (2) Trading (3) Portfolio turnover rate (4) $ s s % % % % % % PT8 Shares Sept. 3, 217 1 1.2.3.23 13..11 49.44 W Shares Commencement of operations July 27, 217 Sept. 3, 217 1 1.2.3.23 13..11 49.44 WT8 Shares Commencement of operations July 27, 217 Sept. 3, 217 1 1.2.3.23 13..11 49.44 Y Shares Commencement of operations July 31, 213 Sept. 3, 217 2,147 164 1.15.11 1.26 9.57.11 49.44 Mar. 31, 217 2,16 168 1.15.11 1.26 9.33.15 118.27 Mar. 31, 216 1,962 172 1.15.11 1.26 9.33.16 158.84 Mar. 31, 215 2,895 236 1.15.11 1.26 9.53.13 14.81 Mar. 31, 214 3,278 288 1.12.11 1.23 9.59.24 178.96 Z Shares Commencement of operations July 31, 213 Sept. 3, 217 24,875 1,995 2.15.22 2.37 1.37.11 49.44 Mar. 31, 217 27,23 2,188 2.15.22 2.37 1.45.15 118.27 Mar. 31, 216 26,973 2,441 2.16.22 2.38 1.41.16 158.84 Mar. 31, 215 34,386 2,856 2.15.22 2.37 1.41.13 14.81 Mar. 31, 214 36,919 3,266 2.12.22 2.34 1.41.24 178.96 *Footnotes for the tables are found at the end of the Financial Highlights section.
Report of Fund Performance for ended September 3, 217 (1) This information is derived from the Fund s semi-annual and annual financial statements. (2) is calculated based on expenses charged to the Fund commissions and other portfolio transaction costs) and is expressed as an annualized percentage of daily average net assets for, including the Fund s proportionate share of any underlying fund(s) expenses, if applicable. The Effective HST tax rate is calculated using the attribution percentage for each province based on shareholder residency and can be different from 13%. (3) The trading represents total commissions and other portfolio transaction costs expressed as an annualized percentage of daily average net assets during, including the Fund s proportionate share of such expenses of any underlying fund(s), if applicable. (4) The Fund s portfolio turnover rate indicates how actively the Fund s portfolio advisor manages its portfolio investments. A portfolio turnover rate of 1% is equivalent to the Fund buying and selling all of the securities in its portfolio once in the course of the fiscal period. The higher a Fund s portfolio turnover rate in a period, the greater the trading costs payable by the Fund in, and the greater the chance of an investor receiving taxable capital in. There is not necessarily a relationship between a higher turnover rate and the performance of a Fund. Portfolio turnover rate is calculated by dividing the lesser of the cost of purchases and the proceeds of sales of portfolio securities for, and excluding cash and short-term investments maturing in less than one year, and before assets acquired from a merger, if applicable, by the average of the monthly fair value of investments during. (5) This information is provided for ended September 3, 217 and the years ended March 31. (6) For financial periods beginning on or after April 1, 213 the financial highlights are derived from the financial statements prepared in accordance with International Financial Reporting Standards (IFRS). IFRS allows net assets to be calculated based on the last traded market price for financial assets and financial liabilities where the last traded price falls within the day s bid-ask spread. There are no differences between the net assets calculated for purpose of processing shareholders transactions and the net assets attributable to holders of redeemable shares used for financial statement reporting purposes. For financial years before April 1, 213, the financial highlights are derived from the financial statements prepared in accordance with Canadian GAAP. Under Canadian GAAP net assets for financial statement purposes were calculated based on bid/ask price while for purpose of processing shareholder transactions net assets were calculated based on the closing market price.
Report of Fund Performance for ended September 3, 217 PAST PERFORMANCE This section describes how the Fund has performed in the past. Remember, past returns do not indicate how the Fund will perform in the future. The information shown assumes that made by the Fund in s shown were reinvested in additional shares of the relevant classes of the Fund. In addition, the information does not take into account sales, redemption, distribution or other optional charges that would have reduced returns or performance. Year-by-Year Returns The following charts show the Fund s semi-annual and annual performance for each of s shown and illustrate how the Fund s performance has changed from period to period. In percentage terms, the charts show how much an investment made on the first day of each financial period would have grown or decreased by the last day of each financial period, except where noted. A Shares AT5 Shares AT6 Shares AT8 Shares 5 4 3 2 1 34.2 2.8 22.5 15.4 17.7 12.1.7 1-26.9-1.9-3.7.9 5 4 3 2 1 34.3 2.8 22.5 15.3 17.5 11.9 3. 1-26.9-1.9-3.8 1. 5 4 3 2 1 16.5 22.6 2 17.5 11.9-3.9.9 5 4 3 2 1 34.3 2.7 22.6 15.4 17.5 11.9 1.8 1-27.1-1.9-3.8 1. Mar. 28 Mar. 29 Mar. 21 Mar. 211 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 28 Mar. 29 Mar. 21 Mar. 211 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 28 Mar. 29 Mar. 21 Mar. 211 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 D Shares E Shares ET5 Shares ET8 Shares 5 4 3 2 1 16.9 23. 2 18.2 12.5-3.4 1.1 5 4 3 2 1 16.3 2.9 22.7 3 17.8 12.1-3.6 1. 5 4 3 2 1 16. 2.9 22.7 3 17.6 12. -3.7.9 5 4 3 2 1 16.1 2.8 22.6 3 17.6 12.1-3.7 1. Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 EF Shares EFT5 Shares EFT8 Shares F Shares 5 4 3 2 1 5.6 4-2.5 19.1 1.5 5 4 3 2 1-2.7 5 19. 1.5 5 4 3 2 1 5.6 4-2.6 18.9 1.5 5 4 3 2 1 35.6 22.2 23.9 16.6 19. 13.3 3.3 1-26.1 -.8-2.6 1.5 Mar. 215 Mar. 217 Sept. 217 Mar. 217 Sept. 217 Mar. 215 Mar. 217 Sept. 217 Mar. 28 Mar. 29 Mar. 21 Mar. 211 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 FT5 Shares FT8 Shares I Shares IT5 Shares 5 4 3 2 1 35.7 22.2 23.9 16.7 18.8 13.2 1.8 1-26.2 -.9-2.8 1.5 5 4 3 2 1 22.2 24. 16.6 18.8 13.2 8.2 6 -.8-2.7 1.4 5 4 3 2 1-25.8 7 37.3 18.2.5 23.8 25.6 14.8-1.3 2.6 2.2 5 4 3 2 1 7.6 8 23.8 25.6 14.7-1.4 2.4 2.2 Mar. 28 Mar. 29 Mar. 21 Mar. 211 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 21 Mar. 211 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 29 Mar. 21 Mar. 211 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217
Report of Fund Performance for ended September 3, 217 IT8 Shares 5 4 3 2 23.8 25.6 14.6 2.4 1 2.4 8-1.4 2.1 O Shares 5 4 3 2 17.6 23.7 25.4 3 14.6 2.4 1-1.5 2. OT5 Shares 5 4 3 2 17.7 23.7 25.3 3 14.5 2.1 1-1.6 2.1 OT8 Shares 5 4 3 2 17.7 23.6 25.3 3 14.5 2.2 1-1.5 2.1 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 212 Mar. 213 Mar. 214 Mar. 215 Mar. 217 Sept. 217 Y Shares 5 4 3 2 15.9 9 13.5 19. 1-2.5 1.6 Z Shares 5 4 3 2 15.1 9 12.1 17.7 1-3.6 1. Mar. 214 Mar. 215 Mar. 217 Sept. 217 Mar. 214 Mar. 215 Mar. 217 Sept. 217 1 28 return is for from January 7, 28 to March 31, 28. 2 213 return is for from September 9, 212 to March 31, 213. 3 212 return is for from October 4, 211 to March 31, 212. 4 215 return is for from December 5, 214 to March 31, 215. 5 216 return is for from July 29, 215 to March 31, 216. 6 21 return is for from December 12, 29 to March 31, 21. 7 29 return is for from April 2, 28 to March 31, 29. 8 212 return is for from February 17, 212 to March 31, 212. 9 214 return is for from July 31, 213 to March 31, 214.
Report of Fund Performance for ended September 3, 217 Summary of Investment Portfolio as at September 3, 217 Portfolio Breakdown Percentage of Portfolio Breakdown (cont d) Percentage of Top 25 Holdings Percentage of Category Net Assets (%) Category Net Assets (%) Security Name Net Assets (%) Country allocation Long Positions Canada... 39. U.S.A.... 33. Cash & Equivalents... 15. U.K.... 4.2 Bermuda... 3.9 Other Net Assets (Liabilities)... 2.1 Singapore... 2. Spain... 1. Options Contracts.... Cayman Islands.... Foreign Currency Forward Contracts... (.1) Long Positions... 1.1 Short Positions Options Contracts... (.1) Short Positions... (.1) Sector allocation Long Positions Cash & Equivalents... 15. Information Technology... 14.3 Industrials... 13.9 Energy... 13.6 Financials... 12.3 Materials... 9. Consumer Staples... 8.2 Consumer Discretionary... 5.3 Utilities... 2.7 Health Care... 2.3 Other Net Assets (Liabilities)... 2.1 Real Estate... 1.5 Options Contracts.... Foreign Currency Forward Contracts... (.1) Long Positions... 1.1 Short Positions Options Contracts... (.1) Short Positions... (.1) Cash & Equivalents... 15. Tourmaline Oil Corp.... 4.1 Canadian Natural Resources Ltd.... 4. Fairfax Financial Holdings Ltd., Sub-Voting Shares... 3.9 Walgreens Boots Alliance Inc.... 3.7 George Weston Ltd.... 3.5 Franco-Nevada Corp.... 3.4 Athene Holding Ltd.... 3.2 Alphabet Inc., Class A... 3.1 Praxair Inc.... 2.9 Symantec Corp.... 2.9 Keyera Corp.... 2.6 Restaurant Brands International Inc.... 2.5 Finning International Inc.... 2.5 Intact Financial Corp.... 2.2 Auto Trader Group PLC... 2.2 Middleby Corp.... 2.1 Wells Fargo & Co.... 2. Canadian Pacific Railway Ltd.... 2. Palo Alto Networks Inc.... 2. Microsoft Corp.... 2. Broadcom Ltd.... 2. Melrose Industries PLC... 2. Exelon Corp.... 2. PrairieSky Royalty Ltd.... 1.9 Net Assets (in $ s) $4,975,814 The summary of investment portfolio may change due to ongoing portfolio transactions of the Fund and updates will be available on a quarterly basis. A NOTE ON FORWARD-LOOKING STATEMENTS This report may contain forward-looking statements about the Fund, its future performance, strategies or prospects, and possible future Fund action. The words may, could, should, would, suspect, outlook, believe, plan, anticipate, estimate, expect, intend, forecast, objective, and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance. Forward-looking statements involve inherent risks and uncertainties, both about the Fund and general economic factors, so it is possible that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution you not to place undue reliance on these statements as a number of important factors could cause actual events or results to differ materially from those expressed or implied in any forward-looking statement made by the Fund. These factors include, but are not limited to, general economic, political and market factors in Canada, the United States and internationally, interest and foreign exchanges rates, global equity and capital markets, business competition, technological changes, changes in laws and regulations, judicial or regulatory judgments, legal proceedings and catastrophic events. The above list of important factors that may affect future results is not exhaustive. Before making any investment decisions, we encourage you to consider these and other factors carefully. All opinions contained in forward-looking statements are subject to change without notice and are provided in good faith but without legal responsibility.