Fund Facts
as at April 30, 2013

Top Holdings
as at April 30, 2013

Volatility Meter

Low	High
Based on 3-year standard deviation relative to other funds in its category, from Globe Investor.

Equity Style and Capitalization Overview

(Class A)

Objective

This fund's objective is to achieve tax-efficient returns through exposure to a portfolio of fixed income and high-yielding equity securities throughout the world. The fund will obtain this exposure primarily by entering into derivatives, but may hold fixed income and equity securities directly from time to time.

Compound Returns and Quartile Rankings
as at April 30, 2013

Performance Data

This chart shows you the fund´s annual performance and how an investment would have changed over time.

Current Value of a $10,000 Investment

Compare With CI Peer	CI Cambridge Income CI Cambridge Income CC CI Cambridge Income CC-AT5 CI Cambridge Income CC-AT8 CI Income Fund Class A CI Signature Div Yield Corp Cl(US$) CI Signature Div Yield Corp Cl-T5 CI Signature Div Yield Corp Cl-T8 CI Signature Div Yield Corp Class CI Signature Diversified Yield(US$) SWE Select Income Advantage A SWE Select Income Advantage B SWE Select Income Advantage C SWESS 2 CI Cambr Divers Bdle Est SWESS 2 CI Cambr Divers Bdle Incm SWESS 2 CI Cambr Divers Bdle Invt SWESS 2 CI Sel Inc Adv Mangd Fd Est SWESS 2 CI Sel Inc Adv Mngd Fd Incm SWESS 2 CI Sel Inc Adv Mngd Fd Invt SWESS 2 CI Sig Divrs Yd Fd PIM Incm SWESS 2 CI Sig Divrs Yd Fd PIM Invt SWESS 2 CI Sig Divrs Yld Fd PIM Est SWESS 2 CI Sign Divers Yld Fd Incm SWESS 2 CI Sign Divers Yld Fd Invt SWESS 2 CI Signat Divers Yld Fd Est SWESS 2 CI Signature Divid Bdle Est SWESS 2 CI Sl In Ad Mgd Fd PIM Incm SWESS 2 CI Sl In Ad Mgd Fd PIM Invt SWESS 2 CI Sl In Adv Mgd Fd PIM Est SWESS CI Select Income Adv PIM SWESS CI Select Income Adv PIM EC SWESS CI Select Income Adv PIM IC SWESS CI Select Income Advant Est SWESS CI Select Income Advant Inc SWESS CI Select Income Advant Invt SWESS CI Sig Dvrsfd Yield IC SWESS CI Sig Dvrsfd Yield-Estate SWESS CI Signature Dvrsfd Yield SWESS Sig Diversified Yield PIM SWESS Sig Diversified Yield PIM EC SWESS Sig Diversified Yield PIM IC SWESS Signature High Income PIM SWESS Signature High Income PIM EC SWESS Signature High Income PIM IC Select Income Managed CC A Select Income Managed CC AT5 Select Income Managed CC AT8 Sig Diversified Yield Fund ll A Sig Diversified Yield Fund ll B
Initial Investment Amount
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Fund Advisor Profile

Commentary

As at March 31, 2013

At Signature, we started 2013 with a positive outlook for equities on the basic premise that, led by the U.S., global economies and financial markets would continue to recover, but that the recovery would remain slower than traditional economic recoveries because of the dual headwinds of deleveraging and fiscal restraint.

We believed that so long as credit and capital markets remain open and functioning, then the U.S Federal Reserve's policies will force investors out of risk-free assets that now earn zero (negative returns after inflation) and toward global equities. While nothing has changed with respect to our views on the Fed, the dramatic change in policy at the Bank of Japan in early April only reinforces our view.

Having laid out our call for stronger global equity markets, it is also worth expressing our view on the key economic drivers around the world. In a nutshell, we remain most upbeat on the outlook for the U.S. private sector, followed by China's ability to manage slower yet still strong growth. In Japan, we expect a strong year but remain skeptical about longer-term structural reform. Europe will remained mired in a stagnant state of mild recession as it continues its internal rebalancing and debating what it should look like when it grows up. Ultimately, we expect the policy debate in Europe to shift from austerity and towards growth, but not before German elections in September. It is, however, important to bear in mind that buying European companies is not the same as buying into the European economies, and the concerns in Europe have resulted in attractive valuations for many European-listed multinationals with strong global franchises.

Source: The Globe and Mail Inc.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total including changes in unit value and reinvestment of all distributions 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. ^*Assets under management are as at the end of the most recent quarter ending March 31, June 30, September 30 or December 31.
* In light of the recent federal budget announcement, this fund is currently closed to new purchases as of April 15, 2013.

© 2013 CI Financial Corp.