Mutual Funds

*Performance shown is that of the IA Clarington Canadian Dividend Fund Series A. Because Series A units and Series X units have the same management fee and refer to the same portfolio, there are no differences between the two series that should affect performance of the funds.

For Series X units, the Fund will make a monthly distribution of a fixed dollar amount per unit determined in January of each year. Effective December 31, 2009, if the annualized monthly distribution per unit of the series at that time is between approximately 8% and 16% of the net asset value per unit of the series as of December 31 of the previous year, the monthly distribution per unit will not change. If the annualized monthly distribution per unit of the series is outside that range, the monthly distribution amount will be adjusted to be one twelfth of 12% of the net asset value per unit of the series as of December 31 of the previous year. The current distribution rate per unit is $0.06, which will remain in effect until adjusted as set out in this distribution policy. It is important to note that the distribution rate on Series X units of the Fund significantly exceeds the past performance of the Series A units of the Fund. If this continues, it will erode the net asset value per unit of that Series of the Fund which would trigger a distribution rate change. We expect that the distributions on the Series A, Series F and Series X units of the Fund generally will include a significant return of capital

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 and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns.

The payment of distributions and distribution breakdown is not guaranteed and may fluctuate. The payment of distributions should not be confused with a fund's performance, rate of return, or yield. If distributions paid by the fund are greater than the performance of the fund, then your original investment will shrink. Distributions paid as a result of capital gains realized by a fund and income and dividends earned by a fund are taxable in your hands in the year they are paid. Your adjusted cost base will be reduced by the amount of any returns of capital. If your adjusted cost base goes below zero, then you will have to pay capital gains tax on the amount below zero.

Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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. and the IA Clarington logo is a trademark of Industrial Alliance Insurance and Financial Services Inc.