For the period ending June 30, 2014, the Manulife Leith Wheeler Diversified Pooled Fund finished the second quarter inline but signifi-cantly ahead of its blended benchmark over a one-year period at +2.7%. Over the longer term period, the Fund continued to beat its benchmark and added 2.7% over a five-year annualized period. Within its Canadian balanced peer group, the fund posted first quartile rankings in most annualized periods (one, two, three and five-year periods) and ranked in the first quartile on a risk-adjusted basis. With the exception of international equity, all asset classes added value to the fund over the one-year period. Fixed income and Canadian equi-ties are managed internally while international and U.S. equities in the portfolio have been managed by Sprucegrove Investment Manage-ment Ltd since 1995. After over a year in the role as CEO and President, Mr. Gilliland has maintained a stable environment. Mr. Gilliland has proven to be able to fill the roles of CEO, President and head of fixed income comfortably. Overall, the firm's investment teams have remained deep and stable. Leith Wheeler is cognizant of the importance of succession planning and has slowly added people over the years. The manager remains committed to finding companies that have attractive valuations, good business models and strong manage-ment teams. IMS remains comfortable with the investment team in place and are confident in the process that they employ. There are no concerns with this Fund.