Focus on
Table Of Contents Page Review of the Markets........................................ 1 Money Market Fund.......................................... 2 Accumulative Income Fund..................................... 3 Canadian Bond Fund......................................... 4 Asset......................................... 5 Equitable Life Templeton Global Bond Fund........................ 6 Equitable Life Trimark Global Balanced Fund........................ 7 Canadian Stock Fund......................................... 8 Common Stock Fund......................................... 9 Equitable Life AIM Canadian Premier Fund......................... 10 Equitable Life Bissett Dividend Income Fund........................ 11 Equitable Life MB Value Fund...................... 12 American Growth Fund....................................... 13 Equitable Life Mackenzie Universal U.S. Emerging Growth Fund......... 14 Equitable Life Templeton Growth Fund............................ 15 Equitable Life Trimark Europlus Fund............................. 16 Equitable Life Investment Management Team....................... 17 Group Savings and Retirement Services
Review of the Markets By McLean Budden OVERVIEW: The rally in global equities that began in March continued during the fourth quarter, albeit at a much more modest pace. As the year came to a close the recovery in stock markets was nothing short of remarkable given the negativity that existed just nine months ago. For example, in North America, the S&P 500 Index has risen 65% and the S&P/TSX Composite 55%, while in Japan the Nikkei 225 has added 50%. The broad equity rally can be linked to a combination of lower risk across asset classes and improving economic growth, which accelerated in the fourth quarter but not uniformly. In the major economies it has been sub-par versus prior recoveries and led by inventory re-alignment and fiscal stimuli neither of which are drivers of sustainable growth. In emerging markets, domestic demand has led the way, aided by fiscal stimuli, low rates and surging asset prices. A strong global recovery is unlikely given high levels of excess capacity and balance sheet de-leveraging in the developed economies. Based on a 60%+ rally since March, world equities appear to be extrapolating that the recovery will become a self-sustaining economic expansion with above-trend growth. Interest rates and bond yields are likely to hold near historic lows for some time despite large budget deficits as private sector credit demand remains weak. Similarly, bonds saw their best performance coming from the corporate sector during what was a weak quarter for the debt market. GLOBAL EQUITIES: Global stock markets continued to generate positive returns during the fourth quarter as investors maintained their optimistic perspective of an improving global economy. Nine out of ten industry sectors within the MSCI World Index posted positive returns led by materials, information technology and health care. Only financials failed to provide a positive return during the quarter. All major regional equity markets recorded gains in their local currencies. Emerging markets outperformed developed markets driven by continued strong results in Eastern Europe and Latin America. CANADIAN EQUITIES: The Canadian market posted a solid return of 3.9% for the quarter. Based on its significant weighting in the Index, the energy sector had the largest impact, led by uranium and pipeline stocks which posted double-digit returns. The materials sector was also a significant contributor led by the mining sub-sector s gain of 14.9%, however, the gold group reversed its positive trend by posting a loss of 1.1%. After two very strong quarters, the financials sector recorded a negative return, due, in large part, to insurance stocks which declined 5.7%. FIXED INCOME: The DEX Universe Bond Index posted its first quarterly decline in over a year with a loss of 0.2%. Bonds with greater credit risk generally outperformed more secure issues as evidenced by the fact that corporates outperformed provincials which in turn outperformed Government of Canada bonds. Conversely, shorter duration bonds outperformed those with longer durations, across all sectors. 1 Group Savings and Retirement Services
Money Market Fund Income Balanced The fundamental investment objective is to provide maximum income on Canadian government and high-grade corporate short-term investments consistent with preservation of capital and liquidity. The Money Market Fund will invest primarily in money market instruments with a term to maturity of one year or less, including debt issued or guaranteed by the Government of Canada, any Canadian province or any agency of either, or any municipal corporation in Canada, obligations of Canadian chartered banks or loan or trust companies registered or licensed under the laws of Canada or any province, and high quality short term corporate obligations.the Money Market Fund has a portfolio with a dollar weighted average term to maturity not exceeding 180 days. The Money Market Fund will not have more than 5% of foreign investment. Not more than 5% of its assets will be invested in commercial paper that has not been rated investment-grade by a recognized credit rating agency. investors looking for stability of principal investors who are very conservative investors seeking a market rate of income in very short-term securities Overall Risk - Low. Cash & Short-Term Notes 100.00% 0.05% 0.15% 0.31% 1.02% 3.09% 3.23% 3.45% 2
Accumulative Income Fund Income Balanced The fundamental investment objective is to achieve returns through a combination of capital appreciation and interest income by investing in high-quality Canadian debt securities. This fund invests exclusively in the MB Fixed Income Fund managed by McLean Budden Limited. The MB Fixed Income Fund aims to provide a moderate real rate of return through income and capital gains, by investing in a diversified portfolio of primarily Canadian dollar debt and from time-to-time, in U.S. debt. The MB Fixed Income Fund will only invest in investment grade debt. Returns in excess of income will be gained through active duration, yield curve and sector management. investors seeking current income higher than money market rates and willing to accept price fluctuations investors wanting to balance their equity portfolio with a fixed-income investment investors seeking a portfolio of bonds with differing maturities Overall Risk - Low. Types of Risks included: Currency risk, Interest Rate risk, Credit risk and Underlying Fund risk. Government of Canada Bonds 36.55% Corporate Bonds 35.12% Cash and Short-Term Notes 3.88% Provincial and Municipal Bonds 24.45% -1.51% -0.35% 2.77% 6.11% 5.21% 5.23% 6.47% 3 Group Savings and Retirement Services
Canadian Bond Fund Income Balanced The fundamental investment objective is to achieve returns through a combination of capital appreciation and interest income by investing in high-quality Canadian debt securities. This fund invests exclusively in the MB Fixed Income Fund managed by McLean Budden Limited. The MB Fixed Income Fund aims to provide a moderate real rate of return through income and capital gains, by investing in a diversified portfolio of primarily Canadian dollar debt and from time-to-time, in U.S. debt. The MB Fixed Income Fund will only invest in investment grade debt. Returns in excess of income will be gained through active duration, yield curve and sector management. investors seeking current income higher than money market rates and willing to accept price fluctuations investors wanting to balance their equity portfolio with fixed-income investments investors seeking a portfolio of bonds with differing maturities Overall Risk - Low. Types of Risks included: Currency risk, Interest Rate risk, Credit risk and Underlying Fund risk. Government of Canada Bonds 32.32% Corporate Bonds 38.62% U.S. Dollar Denominated 3.90% Cash & Short-Term Notes 0.21% Provincial & Municipal Bonds 24.95% -1.51% -0.32% 2.81% 6.15% 5.23% 5.24% 6.51% 4
Asset Income Balanced The fundamental investment objective is to achieve long-term growth of principal and income through exposure to a balanced combination of stocks, bonds, mortgages and money market instruments. The asset mix will be regularly monitored and reallocated, in order to optimize returns. This fund invests exclusively in a mix of units of pooled funds managed by McLean Budden Limited, which currently are the MB Fixed Income Fund, MB Money Market Fund, MB Global Equity Fund and MB Fund. The Asset will invest primarily in (i) common and preferred stock of qualified Canadian and foreign corporations, including convertible debentures, (ii) Federal, Provincial and Municipal bonds and high grade corporate bonds and debentures (including mortgage-backed securities) rated A or better by a recognized bond rating agency, (iii) residential mortgages and (iv) short term money market investments. All of the foregoing investments may be made directly or indirectly through the use of pooled funds. The fund may also invest in both bond futures contracts and equity index futures contracts of both domestic and foreign markets as a means of gaining exposure to other markets on a cost effective basis. investors seeking less volatility than in an all-stock portfolio and more growth potential than in an all-bond portfolio investors seeking fairly steady current income and growth potential over time investors willing to assume a moderate level of principal risk Overall Risk - Medium. Types of Risks included: Market risk, Foreign Market risk, Currency risk, Derivative risk, Interest Rate risk, Credit risk and Underlying Fund risk. Canadian Equities 26.74% Foreign Equities 30.71% Government of Canada Bonds 14.36% Provincial & Municipal Bonds 9.89% Corporate Bonds 15.31% Cash and Short-Term Notes 2.99% 0.97% 2.05% 8.56% 16.45% 0.82% 5.17% 4.22% 5 Group Savings and Retirement Services
Equitable Life Templeton Global Bond Fund Income Balanced The fundamental investment objective is to provide a real rate of return, primarily through income, exposure to a diversified portfolio of government and high-grade corporate Canadian, American and overseas debt securities. This fund invests exclusively in the Templeton Global Bond Fund managed by Franklin Templeton Corp. The Templeton Global Bond Fund seeks to achieve high current income with capital appreciation by investing primarily in fixed income securities and preferred shares issued around the world. The Templeton Global Bond Fund may not invest more than 25% of the total value of the invested assets (excluding cash) in a particular industry. investors wanting a diversified portfolio of high quality Canadian, American and overseas bonds and other fixed income investments investors who are willing to accept moderate risk and are investing for the long term investors seeking a source of income Overall Risk - High. Types of Risks included: Foreign Market risk, Currency risk, Interest Rate risk, Credit risk and Underlying Fund risk. Fixed Income 87.07% Cash & Cash Equivalent 12.93% -0.59% 0.21% 0.64% 6.31% 8.78% 7.10% 7.52% 6
Equitable Life Trimark Global Balanced Fund Income Balanced The fundamental investment objective is to invest in units of the Trimark Global Balanced Fund or a substantially similar fund. This fund currently invests exclusively in the Trimark Global Balanced Fund managed by Invesco Trimark Ltd. The Trimark Global Balanced Fund seeks to provide a high total investment return through a combination of income and strong capital growth. The Trimark Global Balanced Fund holds a balanced portfolio of equities, convertible and fixed-income securities issued by governments - federal, provincial or municipal - or corporations anywhere in the world. investors wanting exposure to a balanced portfolio of equities and fixed income investments from around the globe that possess strong income and growth potential investors willing to accept a moderate to high level of risk investors seeking income and capital growth potential over time (at least 5 years) through active management Overall Risk - Medium. Types of Risks included: Market risk, Foreign Market risk, Currency risk, Interest Rate risk, Credit risk and Underlying Fund risk. Government bonds 4.86% Corporate bonds 24.80% Consumer staples 11.15% Health care 12.69% Information technology 12.76% Consumer discretionary 15.78% Cash and short term notes 3.04% Industrials 8.37% Financials 2.17% Energy 1.99% Telecommunications Service 2.39% 1.38% 3.34% 10.06% 9.24% -5.29% 1.47% 7 Group Savings and Retirement Services
Canadian Stock Fund Income Balanced The fundamental investment objective is to achieve long-term capital appreciation through exposure to a diversified portfolio of Canadian and foreign equities. This fund invests exclusively in the MB Plus Fund managed by McLean Budden Limited. The MB Plus Fund aims to provide a superior real rate of return, primarily through capital appreciation, over the long-term by investing in a diversified portfolio of Canadian and foreign equities. Typically, at least 75% of the Canadian equity portion of the MB Plus Fund will be invested in the largest one hundred stocks traded on the Toronto Stock Exchange. Foreign equity selections will generally be large global companies that are leaders in their respective industries. investors wanting a blend of Canadian equities and some foreign equities investors willing to accept share-price volatility and foreign currency risk investors seeking capital growth over time (at least 5 years) through active management Overall Risk - Medium. Types of Risks included: Market risk, Foreign Market risk, Currency risk and Underlying Fund risk. CANADIAN EQUITIES Cash & Short-Term Notes 1.94% Foreign Equities 29.41% Energy 18.67% Materials 7.48% Industrials 5.78% Consumer Discretionary 6.57% Consumer Staples 2.88% Health Care 0.47% Financials 16.94% Information Technology 4.61% Telecommunication Services 3.75% Utilities 1.50% 3.52% 3.70% 12.83% 28.39% -1.79% 5.63% 6.69% 8
Common Stock Fund Income Balanced The fundamental investment objective is to achieve long-term capital appreciation through exposure to a diversified portfolio of Canadian and foreign equities. This fund invests exclusively in the MB Plus Fund managed by McLean Budden Limited. The MB Plus Fund aims to provide a superior real rate of return, primarily through capital appreciation, over the long-term by investing in a diversified portfolio of Canadian and foreign equities. Typically, at least 75% of the Canadian equity portion of the fund will be invested in the largest 100 stocks traded on the Toronto Stock Exchange. Foreign equity selections will generally be large companies that are leaders in their respective industries. investors wanting a blend of Canadian equities and some foreign equities investors willing to accept share-price volatility and foreign currency risk investors seeking capital growth over time (at least 5 years) through active management Overall Risk - Medium. Types of Risks included: Market risk, Foreign Market risk, Currency risk and Underlying Fund risk. CANADIAN EQUITIES Energy 21.93% Materials 8.84% Industrials 8.51% Consumer Discretionary 11.13% Financials 21.53% Information Technology 8.73% Cash and Short-Term Notes 1.94% Other 17.39% 3.52% 3.67% 12.81% 28.41% -1.79% 5.65% 6.71% 9 Group Savings and Retirement Services
Equitable Life AIM Canadian Premier Fund Income Balanced The fundamental investment objective is to invest in units of the AIM Canadian Premier Fund or a substantially similar fund. This fund currently invests exclusively in the AIM Canadian Premier Fund managed by Invesco Trimark Ltd. The AIM Canadian Premier Fund seeks long-term capital growth by investing mainly in a diversified portfolio of Canadian equity securities with a strong growth potential. investors wanting a core Canadian equity holding for their portfolio investors seeking exposure to high quality Canadian companies with strong growth potential investors willing to accept a moderate to high level of risk investors seeking capital growth potential over time (at least 5 years) Overall Risk - Medium. Types of Risks included: Market risk, Foreign Market risk, Currency risk and Underlying Fund risk. Consumer staples 11.64% Health care 14.28% Short-term investments, Cash and other net Assets 4.35% Financials 12.74% Energy 17.76% Consumer discretionary 11.56% Telecommunication services 4.75% Industrials 9.63% Information technology 5.57% Materials 7.72% 2.63% 4.57% 13.72% 23.19% -1.38% 8.93% 10
Equitable Life Bissett Dividend Income Fund Income Balanced The fundamental investment objective is to invest in units of the Bissett Dividend Income Fund or a substantially similar fund. This fund currently invests exclusively in the Bissett Dividend Income Fund managed by Franklin Templeton Corp. The Bissett Dividend Income Fund seeks high current income by investing primarily in Canadian and American dividend paying preferred and common stocks and, from time to time, bonds up to a maximum of 25% of the Bissett Dividend Income Fund s total assets. The Bissett Dividend Income Fund may invest in foreign equity or fixed income securities. investors wanting diversified exposure to high quality Canadian companies with long histories of dividend growth investors willing to accept a moderate level of risk investors seeking dividend income and capital growth through active management over time Overall Risk - Medium. Types of Risks included: Market risk, Foreign Market risk, Currency risk, Interest Rate risk, Credit risk and Underlying Fund risk. Consumer Discretionary 7.41% Consumer Staples 7.73% Energy 15.91% Financials 24.51% Health Care 2.66% Industrials 3.88% Information Technology 2.79% Materials 0.42% Telecommunication Service 7.60% Utilities 5.80% Cash 2.40% Fixed Income 18.89% 3.16% 4.34% 12.39% 21.60% -0.33% 5.29% 11 Group Savings and Retirement Services
Equitable Life MB Value Fund Income Balanced The fundamental investment objective is to invest in units of the MB Value Fund or a substantially similar fund. This fund invests exclusively in the MB Value Fund managed by McLean Budden Limited. The MB Value Fund aims to provide a real rate of return, primarily through capital appreciation, by investing in a diversified portfolio of Canadian equities. Security selection will emphasize companies which are considered to be undervalued in relation to their historical price, industry competitors and/or the overall market. investors wanting a core domestic equity holding for their portfolio investors seeking equity exposure to large Canadian companies investors willing to accept a moderate to high level of risk investors seeking capital growth over time (at least 5 years) through active management Overall Risk - Medium. Types of Risks included: Market risk and Underlying Fund risk. Cash & Short-Term Notes 2.93% Energy 26.17% Materials 12.11% Industrials 6.89% Consumer Discretionary 7.26% Consumer Staples 4.52% Health Care 1.37% Financials 25.06% Information Technology 6.38% Telecommunication Services 5.23% Utilities 2.08% 4.49% 4.57% 14.40% 29.31% 0.60% 6.93% 10.48% 12
American Growth Fund Income Balanced The fundamental investment objective is to achieve long-term capital growth primarily through exposure to U.S. equity securities of large and mid-sized U.S. companies. This fund invests exclusively in the McLean Budden American Equity Fund managed by McLean Budden Limited. The McLean Budden American Equity Fund aims for long-term capital growth by investing in U.S. equity securities. long-term investors who: seek U.S. equity investments with attractive growth prospects are willing to accept share-price volatility and foreign currency risk seek capital growth over time (at least 5 years) through active management Overall Risk - High. Types of Risks included: Market risk, Foreign Market risk, Currency risk and Underlying Fund risk. Cash & Short-Term Notes 1.23% Energy 12.53% Materials 2.84% Industrials 9.00% Consumer Discretionary 6.78% Consumer Staples 13.68% Health Care 13.01% Financials 12.84% Information Technology 18.89% Telecommunication Services 5.16% Utilities 4.04% 1.43% 3.79% 10.48% 11.59% -5.85% -0.22% 0.19% 13 Group Savings and Retirement Services
Equitable Life Mackenzie Universal U.S. Emerging Growth Fund Income Balanced The fundamental investment objective is to invest in shares of the Mackenzie Universal U.S. Emerging Growth Class or a substantially similar fund. This fund currently invests exclusively in the Mackenzie Universal U.S. Emerging Growth Class managed by Mackenzie Financial Corporation. The Mackenzie Universal U.S. Emerging Growth Class pursues long-term capital growth by investing in common securities of American small to mid-capitalization companies with above average growth prospects ( emerging growth companies ). Current income is secondary to long-term growth of capital in selecting securities for the Mackenzie Universal U.S. Emerging Growth Class. investors wanting equity exposure in small to mid-sized American companies investors willing to accept a moderate to high level of risk and price volatility investors seeking above-average capital growth through active management over time (at least 5 years) Overall Risk - High. Types of Risks included: Market risk, Foreign Market risk, Currency risk, Derivative risk, Special Equity risk and Underlying Fund risk. Information Technology 31.20% Consumer Discretionary 19.80% Health Care 12.70% Industrials 12.00% Energy 8.80% Financials 6.80% Cash & Equivalents 4.10% Consumer Staples 2.70% Materials 1.90% 6.90% 3.06% 11.94% 26.48% -1.61% 2.33% 14
Equitable Life Templeton Growth Fund Income Balanced The fundamental investment objective is to invest in shares of the Templeton Growth Fund, Ltd. or a substantially similar fund. This fund currently invests exclusively in the Templeton Growth Fund, Ltd. managed by Franklin Templeton Corp. The Templeton Growth Fund, Ltd. seeks to achieve long-term capital appreciation by investing primarily in equity securities of companies around the world, and fixed income securities issued by governments or companies of any country. The Templeton Growth Fund, Ltd. may invest in any country or industry in any proportion. investors wanting a core foreign equity holding for their portfolio investors seeking equity exposure to large companies from around the globe investors willing to accept moderate to high level of risk and foreign currency risk investors seeking capital growth potential through active management over time (at least 5 years) Overall Risk - High. Types of Risks included: Market risk, Foreign Market risk, Currency risk and Underlying Fund risk. Consumer Discretionary 17.97% Consumer Staples 1.93% Energy 8.26% Financials 17.21% Health Care 14.40% Industrials 12.10% Information Technology 16.11% Materials 2.78% Telecommunication Services 7.23% Cash & Cash Equivalents 2.02% 2.09% 2.07% 12.89% 13.96% -7.99% 0.76% 0.62% 15 Group Savings and Retirement Services
Equitable Life Trimark Europlus Fund Income Balanced The fundamental investment objective is to invest in units of the Trimark Europlus Fund or a substantially similar fund. This fund currently invests exclusively in the Trimark Europlus Fund managed by Invesco Trimark Ltd. The Trimark Europlus Fund seeks to produce strong capital growth over the long term. It invests mainly in equities focusing on companies located in Europe, including Eastern European countries and the Commonwealth of Independent States (countries of the former Soviet Union). The Trimark Europlus Fund may from time to time invest in companies located in other countries, generally in the Mediterranean region. investors wanting exposure to a diversified portfolio of high-quality, industry leading European equities with strong growth potential investors willing to accept a moderate to high level of risk investors seeking capital growth over time (at least 5 years) through active management investors willing to accept foreign currency risk Overall Risk - High. Types of Risks included: Market risk, Foreign Market risk, Currency risk and Underlying Fund risk. Consumer staples 26.97% Health care 19.51% Consumer discretionary 13.06% Financials 2.46% Industrials 16.36% Information technology 16.16% Short-term investments, Cash and other net Assets 3.07% Materials 2.41% -1.05% 0.73% 10.16% 7.83% -12.10% -0.12% 16
Equitable Life Investment Management Team Prudent Investment Management Providing Competitive and Consistent Returns The Equitable Life Insurance Company of Canada is an independent mutual life insurance company that has been providing financial services and protection to Canadian families since 1920. Equitable Life offers a diverse family of segregated funds designed to protect and grow your assets while providing long-term investors help with the financial solutions needed to meet their goals. Quality and Performance Equitable Life has carefully selected and partnered with some of the world s top performing and trusted investment management firms. Your portfolio can benefit from the knowledge and expertise of some of the world s most respected financial minds. These alliances were selected based on their disciplined investment approach and enduring history of strong investment performance. By working together with our alliances, we are able to draw on the strengths of each organization and to provide you with the best of the best when it comes to building a secure, high-performing portfolio. Comprehensive Diversification Here at Equitable Life, our investment management alliances provide you with a comprehensive selection of segregated funds that allow you to diversify and allocate your assets while maintaining your comfort and risk tolerance level. The wide selection enables you to diversify not only geographically but also by management style and asset class, resulting in a balanced portfolio. McLean Budden The Company s continued adherence to disciplined investment guidelines and prudent risk controls is an integral part of its commitment to be a source of secure investing, providing competitive returns for its clients. McLean Budden Limited was founded in 1947 and is one of Canada's longest standing investment management firms. Based in Toronto, McLean Budden also has offices in Montreal, Vancouver and Chicago. The firm is one of the largest of its kind in Canada and manages assets for institutions, private clients, mutual funds, pensions and foundations. McLean Budden has developed a strong investment research capability with a significant emphasis on fundamental and management interviews. All asset classes are actively managed with equity investments dominated by large capitalization companies 17 Group Savings and Retirement Services
Equitable Life Investment Management Team while the bond holdings stress high credit quality. The firm s approach to investment management strives to exceed their clients objectives while minimizing risk. In order to achieve this goal, McLean Budden utilizes a team approach whereby each member of the asset class teams has an equal vote regarding investment decisions affecting their mandate class. This team approach ensures smooth succession by not being dependent on one individual. Mackenzie Financial Central to Invesco Trimark s investment philosophy is their adherence to a long-term view, typically three to five years or longer, because they believe good business strategy usually takes time to implement and be fully leveraged. They construct focused portfolios that are diversified by business, which enable them to maintain an intimate knowledge of each portfolio holding and also ensure that the investment thesis for each holding remains intact. A disciplined and consistent investment process is paramount to their process. Franklin Templeton Through a broad line-up of Canadian and foreign funds across all asset classes, Mackenzie has established itself as a home for investment talent. In-house investment teams and sub-advisors from top companies around the world apply deep, fundamental research to ensure that every security selected meets their portfolio objectives. Founded in 1967 as a small, private investment advisory firm with one mutual fund, Mackenzie Financial Corporation has grown to become one of the largest investment management companies in Canada. Mackenzie is dedicated to generating consistently superior long-term investment returns for its unitholders by investing wisely. Invesco Trimark Ltd Franklin Templeton Corp. is a wholly owned subsidiary of Franklin Resources, Inc., the world's largest publicly traded investment management company. In Canada, Franklin Templeton provides global and domestic investment advisory services to the Franklin, Templeton, Bissett and Mutual Series mutual funds and institutional accounts. With a global network of over 53 offices located in 30 countries and 449 portfolio managers and analysts, Franklin Templeton is committed to seeking out the world s best investment opportunities. As of August 31, 2009, Franklin Templeton in Canada had global assets under management of C$542.5B. Invesco Trimark is one of Canada's largest investment management companies, providing support to advisors to help their clients build and protect wealth. Invesco Trimark offers a diversified suite of investment solutions to institutions, organizations, companies and individual investors across Canada and around the world. *Invesco and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence. AIM and all associated trademarks are trademarks of Invesco Aim Management Group, Inc., used under licence. Trimark and all associated trademarks are trademarks of Invesco Trimark Ltd. Invesco Trimark Ltd., 2009 18
HEAD OFFICE Customer Service, Group Savings and Retirement Services Tel: 1-866-577-3224 Fax: (519) 886-7048 www.equitable.ca 769(2009/12/31) Equitable Life, Equitable Life of Canada and the lighthouse design are all registered trademarks of The Equitable Life Insurance Company of Canada