SIGNATURE GLOBAL DIVIDEND FUNDMalcolm White, Portfolio Manager: Global Telecom Media Technology

Massimo Bonansinga, Portfolio Manager: Global Utilities, Aerospace, AutoJohn Hadwen, Portfolio Manager: Global Financials

Jeff Elliott, Portfolio Manager: Healthcare

Moderated by Eric Bushell

SIGNATURE’S INTEGRATED MARKET CONCEPT

“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 Asset Management

SIGNATURE OVERVIEW

Facts

• Global investment team based in Canada

• 33 person investment team – one of the largest in Canada

• Core investment style, with diversified portfolios of large-cap securities

• Specialize in broad flexible mandates

• $40 billion in AUM – ample scale to compete for talent, research and trading

1 As at June 30, 2013

*Cash & cash equivalents: commercial paper, floating rates, bonds (in money market) and government (in money market)

DEEP, SPECIALIZED INVESTMENT TEAM

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

TRADING PROFESSIONALS

ERIC BUSHELL, CFA (18)CHIEF INVESTMENT OFFICER

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

GLOBAL INVESTMENT STRATEGISTS

Eric Bushell, CFA (18)

GLOBAL SECTOR/ ASSET CLASS SPECIALISTS

HealthcareJeff Elliott (10)

ConsumerStephane Champagne (16)

Henry Kwok (11)

Income Trusts/REITSRyan Fitzgerald, CFA (7)

Joshua Varghese (1)

Industrials, TransportJoe D'Angelo, CFA (14)

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

FinancialsJohn Hadwen, CFA (18)Goshen Benzaquen (10)

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

Gorlen Zhou (2)

Energy & MaterialsScott Vali, CFA (15)

Hoa Hong, CFA (10)Sara Shahram, CFA (9)

High YieldGeof Marshall, CFA (15)

Kevin McSweeney, CFA (13)Brad Benson, M.A. (13)

Carlton Ling, CFA (8)Darren Arrowsmith, CFA (12)

Rates and Foreign ExchangeEric Bushell, CFA (18)Paul Simon, CFA (10)

Matthew Strauss, CFA (17)

Investment GradeJohn Shaw, CFA (21)

Paul Simon, CFA (10) Leanne Ongaro, CFA (4)

Jonathan Chew (1)Derek Tucker, CFA (11)Shelly Ghai, M.B.A. (7)

PreferredsJohn Shaw, CFA (21)

WHY GLOBAL DIVIDEND STRATEGY?

• Earnings yields and dividend yields on global equities extremely attractive relative to fixed-income yields.

• Poor supply of dividend opportunities in Canada, especially relative to demand.

• Dividend payers tend to outperform the market over the long-term.

EARNINGS YIELD HIGH – DIVIDEND YIELD OK

Source: Bloomberg, as at August 30, 2013

EARNINGS YIELDS EXTREMELY ATTRACTIVE RELATIVE TO BONDS

Source: Bloomberg, as at June 30, 2013

DIVIDENDS YIELDS OR BOND YIELDS?

CONSUMER Est. Dvd Yield Bond Yield

NEWELL RUBBERMAID 2.3 3.08 NWL 6.25 04/15/2018 Corp

MCDONALDS CORP 3.3 1.90 MCD 5.8 10/15/2017 Corp

NESTLE SA-REG 3.4 2.12 NESNVX 1.375 07/24/2018 Corp

COCA-COLA CO/THE 3.0 1.78 KO 1.65 03/14/2018 Corp

PROCTER & GAMBLE 3.1 2.37 PG 2 08/16/2022 Corp

PEPSICO INC 2.8 2.28 PEP 5 06/01/2018 Corp

PHILIP MORRIS IN 4.1 2.37 PM 5.65 05/16/2018 Corp

BRIT AMER TOBACC 4.7 2.75 BATSLN 6.375 12/12/2019 Corp

KRAFT FOODS GROU 3.8 1.39 KRFT 7.55 06/15/2015 Corp

DIAGEO PLC 2.7 1.79 DGELN 1.5 05/11/2017 Corp

CARLSBERG-B 1.1 2.98 CARLB 2.625 11/15/2022 Corp

Source: Bloomberg, as at August 30, 2013

DIVIDEND YIELDS OR BOND YIELDS?

FINANCIALS SECTOR

JPMORGAN CHASE 3.0 2.46 JPM 1.8 01/25/2018 Corp

WELLS FARGO & CO 2.9 2.16 WFC 1.5 01/16/2018 Corp

PNC FINANCIAL SE 2.4 1.43 PNC 2.7 09/19/2016 Corp

METLIFE INC 2.3 1.35 MET 6.75 06/01/2016 Corp

PRINCIPAL FINL 2.5 1.91 PFG 1.85 11/15/2017 Corp

SWEDBANK AB-A 6.4 1.31 SWEDA 3.375 02/09/2017 Corp

BBVA 5.7 2.42 BBVASM 3.5 12/05/2017 Corp

ALLIANZ SE-REG 4.1 1.72 alvgr5.352 12/18/18 corp

HEALTH CARE SECTOR

ROCHE HLDG-GENUS 3.1 0.73 ROSW 5.625 03/04/2016 Corp

BAXTER INTL INC 2.8 2.22 BAX 5.375 06/01/2018 Corp

NOVARTIS AG-REG 3.3 2.36 NOVNVX 5.125 02/10/2019 Corp

BAYER AG-REG 2.2 2.56 BAYNGR 5 07/29/2105 Corp

BAYER AG-REG 2.2 2.09 BAYNGR 5.625 05/23/2018 Corp

Source: Bloomberg, as at August 30, 2013

IS THE WORLD UNDERWEIGHT EQUITY?

Global Financial Assets $T June

1990 1995 2000 2005 2010 2012

Government Bonds 9 14 18 29 43 47

Financial Bonds 8 11 19 30 41 42

Corporate Bonds 3 3 5 7 10 11

Securitized loans 2 3 5 9 13 13

Total Fixed Income 22 31 47 75 107 113

Equity 11 18 37 47 54 50

Equity as % of Fixed Income 50.0% 58.1% 78.7% 62.7% 50.5% 44.2%

Source: Mckinsey Global Institute Financial Assets Database

IS THE WORLD UNDERWEIGHT EQUITY?

CANADA AS % OF THE WORLD MARKET

Source: Bloomberg, as at August 30, 2013

CANADA AS A PERCENT OF THE U.S. MARKET

Source: Bloomberg, as at August 30, 2013

Opportunity set for market cap >$2B and yield >2.5%

Global Dividend Payers by SectorCanadian Dividend Payers by Sector

CANADA VERSUS THE WORLD

Source: Bloomberg, as at August 30, 2013

The top decile stocks as measured by free cash flow/EV have significantly outperformed

LONG-TERM PERFORMANCE OF DIVIDENDS

50

100

150

200

250

300

350

400

450

500

86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13

Equal-Weighted Relativ e Cumulativ e

Performance v s. Equal-Weighted S&P 500

June 1989 = 100 Backtested Actual

Source: Bank of America, as at August 30, 2013

SIGNATURE GLOBAL DIVIDEND FUND STRATEGY

• Sector PMs identify, assess value and track superior free cash flow generating businesses in their sectors globally. The more companies we know the greater the opportunity set!

• Sector PM’s transact on identified opportunities – buy attractive free cash flow generating businesses when compelling entry points occur. Is valuation sufficiently attractive relative to the risks? Are we being paid to worry as measured by free cash flow and/or dividend yield?

• With very large opportunity set, we need to ensure we are constantly reallocating capital to best risk-adjusted opportunities.

• Maintain reasonable sector and geographic diversification.

• Not a yield chase! Generally willing to give up a bit of yield in favour of growth and durability.

• Use macro input/considerations; sector review meetings to actively influence capital allocation by geography and sector.

• Active currency hedging intended to add value.

SIGNATURE GLOBAL DIVIDEND FUNDAS OF SEPTEMBER 16 2013

Source: Signature Global Asset Management

SIGNATURE DIVIDEND FUND – NOT A YIELD CHASE

Source: Signature Global Asset Management, as at August 30, 2013

Thank You

FOR ADVISOR USE ONLY

All charts and illustrations in this guide are for illustrative purposes only. They are not intended to predict or project investment results. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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