Signature Global Road Map

Joe D’AngeloVice President, Portfolio Management

Industrials & Transportation Sector

March 2014

“Markets are interconnected. A successful investment approach should be equally integrated and connected – encompassing rates, credit, equity, commodities, property and foreign exchange within a coordinated global view.”

Eric BushellChief Investment OfficerSignature Global Advisors

Signature’s integrated market concept

Signature Overview

Facts

• Founded in 1990 and located in Toronto

• Investment team of 35 members – one of the largest in Canada

• Growth at a reasonable price investment style (GARP), manage diversified portfolios made up of large cap securities

• $44 billion assets under management1 – a sufficient amount to compete in terms of talent, research and trading

1 As of June 30th 2013

* Cash and cash equivalents: commercial paper, floating rate securities, bonds (money market) and government securities (money market)

Deep, specialized investment team

Shawna McIntee (7) Aldo Sunseri (26) Connie Lee (10)

Ryan Fitzgerald, CFA (7)

Stephane Champagne (16)

TRADING PROFESSIONALS

ERIC BUSHELL, CFA (18)

Sara Shahram, CFA (9)

Income Trusts/REITS

Goshen Benzaquen (10)

Energy & MaterialsScott Vali, CFA (15)

CHIEF INVESTMENT OFFICER

Drummond Brodeur, CFA (22) Matthew Strauss, CFA (17)

GLOBAL INVESTMENT STRATEGISTS

Eric Bushell, CFA (18)

Joshua Varghese (1)

Aero, Auto, Defence, UtilitiesMassimo Bonansinga, M.B.A. (21)

Gorlen Zhou (2)

Consumer

Henry Kwok (11)

Hoa Hong, CFA (10)

Tech, Media, TelecomMalcolm White, CFA (16)Jeremy Yeung, CFA (10)

John Hadwen, CFA (18)Financials

Industrials, TransportJoe D'Angelo, CFA (14)

Janice Wong, CFA, CPA (11)

High YieldGeof Marshall, CFA (15)

Kevin McSweeney, CFA (11)Brad Benson, M.A. (13)Carlton Ling, CFA (8)

Investment GradeJohn Shaw, CFA (21)

Leanne Ongaro, CFA (4)Jonathan Chew (1)

GLOBAL SECTOR/ ASSET CLASS SPECIALISTS

Derek Tucker, CFA (11)

Shelly Ghai, M.B.A. (7)

Rates and Foreign Exchange

Matthew Strauss, CFA (17)Eric Bushell, CFA (18)

Darren Arrowsmith, CFA (12)

PreferredsJohn Shaw, CFA (21)

HealthcareJeff Elliott, PhD (10)

Signature’s Global Road Map: Peering into 2014

Economy

Synchronized global recovery taking shape, but growth will remain below historical averages.

Rates

With inflation relatively contained, low rate environment should persist. Rates expected to modestly drift higher this year.Currency

US $ strength to persist Risks

Currencies, Liquidity, Inflation? - Deflation?…

Economic Outlook - Expecting Better Growth Globally

US – Strong 2014 expected.

• Weather impacted first quarter growth, but 2Q expected to show strong rebound.

Europe – last year was difficult, particularly in first half.

• However, growth prospects have improved for this year.

Emerging Markets – have suffered the most when the US rate environment changed last year.

• Expect government policy to become more pro-growth this year.

Although debt problems at governments around the world persist, banking systems have improved which helps to reduce volatility.

Signature’s Global Road Map

Investment Conclusions

Major Investment Implications:

Less Bonds

Less Canada

More Equity

More Global

Signature Can Help

Interest Rates and Stock Market Valuations

Source: Bloomberg

Apr-10

May

-10

Jul-1

0

Sep-1

0

Nov-10

Dec-1

0

Feb-1

1

Apr-11

Jun-1

1

Aug-11

Sep-1

1

Nov-11

Jan-1

2

Mar

-12

Apr-12

Jun-1

2

Aug-12

Oct-1

2

Nov-12

Jan-1

3

Mar

-13

May

-13

Jul-1

3

Aug-13

Oct-1

3

Dec-1

3

Feb-1

41.0

1.5

2.0

2.5

3.0

3.5

4.0

10.0

11.0

12.0

13.0

14.0

15.0

16.0

17.0

US 10 Year Yield S&P500 P/E Ratio

Inte

rest

Rat

es %

P/E

Rat

io

Themes Within Industrials

Construction markets in US and Europe expected to show strong growth this year.

• Note weather hurt growth last year.

Companies feel better about economic outlook

• Will drive increase in capital expenditures, launch new products etc.

• Looking to make more acquisitions

• Productivity improvements ongoing

• Share buybacks and dividends used more to deploy free cash.

Automation, energy efficiency, & productivity related products continue to be in strong demand

Recurring revenue model increasing desired since it helps limit earnings volatility during economic downturns.

Signature positioning

Cash & gold

• Cautionary holdings; overweight

Government bonds

• Negative real returns; underweight

Investment-grade bonds

• Specific opportunities; about even

High-yield bonds

• Still finding value; overweight

Equities

• Strong, less economically sensitive, quality; mild underweight

Signature global fund codes

 Class A

Mutual FundClass A

Corporate Class Class F

Private Investment

Management

  FEL DSC LL FEL DSC LLMF

TrustCorp Class

Class E

Class O

Signature Global Dividend 578 878 1778 2578 3578 1578 4778 4578 16149 18149

Signature Diversified Yield II 11111 11611 11461 11011 16152 18152

Signature Global Income & Growth

2111 3111 1111 2312 3312 1312 4111 4312 16144 18144

Signature Select Global 588 888 1688 2388 3388 1388 4688 4388 16146 18146

Signature International 864 874 1874 144 145 1145 121 148 16129 18129

Signature Emerging Markets 662 646 1646 277 276 1276 126 257 16123 18123

Signature Global Dividend Fund

Geographic Allocation

Portfolio allocations, as at January 31, 2014

Sector Allocation

Signature Diversified Yield II Fund

Portfolio allocations, as at January 31, 2014

Geographic Allocation Sector Allocation

Signature Global Income & Growth Fund

Portfolio allocations, as at January 31, 2014

Geographic Allocation Sector Allocation

CI Global Fund

Portfolio allocations, as at January 31, 2014

Geographic Allocation Sector Allocation

Source: Globefund

Signature International Fund

Portfolio allocations, as at January 31, 2014

Geographic Allocation Sector Allocation

Signature Emerging Markets Fund

Portfolio allocations, as at January 31, 2014

Geographic Allocation Sector Allocation

Source: Globefund

Thank youAll charts and illustrations in this guide are for illustrative purposes only. They are not intended to predict or project investment results.

®CI Investments and the CI Investments design are registered trademarks of CI Investments Inc. Signature Global Asset Management and the Signature Global Asset Management design are trademarks of CI Investments Inc.Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise indicated and except for returns for periods less than one year, the indicated rates of return are the historical annual compounded total returns including changes in security value. All performance data assume reinvestment of all distributions or 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 guaranteed, their values change frequently and past performance may not be repeated.