IA Clarington Money Market Series A  7 days average yield as at February 28, 2010: 0.00% 
IA Clarington Money Market Series B  7 days average yield as at February 28, 2010: 0.00%

The “% Change” column refers to the percentage difference of the NAVPS over the last two pricing days and is not annualized or compounded. Compound annual returns are provided on the tab marked “Performance” above.

For Funds less than one year old we are not permitted to show performance information.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Any indicated rates of return are the historical annual compounded total returns including changes in security value and reinvestment of all distributions/dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. For the Money Market Fund, there can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

In January 2002, the IA Clarington Bond Fund changed its investment objectives and policies to the investment objectives and policies described in the prospectus. On February 10, 2005, Industrial Alliance Investment Management Inc. assumed portfolio advisory responsibilities for the Fund.

On February 10, 2005, Industrial Alliance Investment Management Inc. assumed portfolio advisory responsibilities for the IA Clarington Diversified Balanced Fund. The Fund’s investment strategy was changed as a result.

The IA Clarington Canadian Conservative Equity Fund is a successor to Associate Investors Limited (“AIL”), a mutual fund corporation, which sold all of its assets to the IA Clarington Canadian Conservative Equity Fund in September 2000. Performance information for periods prior to September 2000 reflects the performance of AIL.

On December 31, 2001, the IA Clarington Money Market Fund underwent a merger that was a material change for the Fund under applicable securities laws. As such, in accordance with such laws, we may only disclose performance for periods after December 31, 2001. This change could have affected the performance of the Fund.

On December 31, 2001, the IA Clarington American Fund underwent a merger that was a material change for the Fund under applicable securities laws. As such, in accordance with such laws, we may only disclose performance for periods after December 31, 2001. On April 1, 2005, McLean Budden Limited assumed sub-advisory responsibilities for the Fund.

In December 2001, the IA Clarington Monthly Income Balanced Fund changed its investment objectives and policies to the investment objectives and policies described in the prospectus.

On August 26, 2005, Clarington U.S. Value Class, Clarington Global Value Class and Clarington Global Health Sciences Class merged into the IA Clarington Global Equity Class as part of a transaction that was a material change for the IA Clarington Global Equity Class under applicable securities laws. As such, in accordance with such laws, we may only disclose performance for periods after August 26, 2005.

On August 26, 2005, Global Currents Investment Management, LLC, formerly known as Brandywine Global Investment Management assumed portfolio advisory responsibilities for the IA Clarington Global Value Fund as sub-advisor to Industrial Alliance Investment Management Inc. The Fund’s investment strategy was changed as a result.

On April 1, 2006, Howson Tattersall Investment Counsel Limited assumed portfolio advisory responsibilities for the IA Clarington Canadian Balanced Fund as sub-advisor to Industrial Alliance Investment Management Inc. The Fund’s investment strategy was changed as a result of this change.

On April 1, 2006, OppenheimerFunds Inc. and Oppenheimer Real Asset Management Inc. assumed portfolio advisory responsibilities for the IA Clarington Global Income Fund as sub-advisors to Industrial Alliance Investment Management Inc. The Fund’s investment strategy was changed as a result of this change. These changes could have affected the performance of the Fund.

On April 1, 2006, Industrial Alliance Investment Management Inc. assumed portfolio advisory responsibilities for the IA Clarington Short-Term Income Class, IA Clarington Canadian Dividend Fund, IA Clarington Canadian Income Fund, IA Clarington Canadian Income Fund II, IA Clarington Canadian Equity Fund and IA Clarington Canadian Equity Class. The Funds’ investment strategies were changed as a result of this change. These changes could have affected the performance of the Funds.

On November 17, 2006, Industrial Alliance Investment Management Inc. assumed portfolio advisory responsibilities for the IA Clarington Income Trust Fund and the IA Clarington Diversified Income Fund. The Funds’ investment strategies were changed as a result of these changes.

On July 4, 2007, Industrial Alliance Investment Management Inc. assumed portfolio advisor responsibilities for the IA Clarington Dividend Income Fund, the IA Clarington Canadian Growth Fund, and the IA Clarington Canadian Leaders Fund. 

Effective September 15, 2008 Catapult Financial Management Inc. assumed portfolio advisory responsibilities for the IA Clarington Global Income Fund as the sub-advisors to Industrial Alliance Investment Management Inc. The Fund’s investment strategy was changed as a result of this change. These changes could have affected the performance of the Fund.

On June 5, 2009, the IA Clarington Diversified Income Fund underwent a merger that was a material change for the Fund under applicable securities laws. Also on that date, the Fund changed its name to IA Clarington Tactical Income Fund, its investment objectives, and Catapult Financial Management Inc. was appointed by the manager as sub-advisor to the Fund. As such, in accordance with such laws, we may only disclose performance for periods after June 5, 2009.

On June 5, 2009, the IA Clarington Navellier U.S. All Cap Fund underwent a merger that was a material change for the Fund under applicable securities laws. Also on that date, the Fund changed its name to IA Clarington Sarbit U.S. Equity Fund, its investment objectives, and Sarbit Advisory Services Inc. was appointed by the manager as sub-advisor to the Fund. As such, in accordance with such laws, we may only disclose performance for periods after June 5, 2009.

On June 5, 2009, the IA Clarington Monthly Income Balanced Fund underwent a merger that was a material change for the Fund under applicable securities laws. As such, in accordance with such laws, we may only disclose performance for periods after June 5, 2009. 

On June 5, 2009, QV Investors Inc. replaced Howson Tattersall Investment Counsel Limited as sub-advisor to Industrial Alliance Investment Management Inc. The IA Clarington Canadian Balanced Fund’s investment strategy was changed effective July 9, 2009. These changes could have affected the performance of the Fund.

Effective July 9, 2009, Global Currents Investment Management, LLC was removed as portfolio sub-advisor to the IA Clarington Global Value Fund. Industrial Alliance Investment Management Inc. continues as portfolio advisor. The Fund’s investment strategies were changed as a result. These changes could have affected the performance of the Fund. 

Some of the above changes could have affected the performance of the Funds.

The IA Clarington Funds and IA Clarington Target Click Funds are managed by IA Clarington Investments Inc. IA Clarington is a trademark of IA Clarington Investments Inc. The IA Clarington logo is a trademark of Industrial Alliance Insurance and Financial Services Inc.