This monthly newsletter provides an overview of: • Mutual fund industry vital signs (asset growth, sales and performance); • Product development highlights for the month; • Interesting facts about our industry.

1. Mutual Fund Monthly Review November 2012
Mutual Fund Industry Vital Signs
Starting assets (October 31, 2012) $683.9 billion
+ net sales $2.6 billion
+/- estimated market effect $0.4 billion (0.1%)
= Ending assets (November 30, 2012) $686.9 billion
Vitals Signs by Fund Category for November 2012
Top 3 Categories Bottom 3 Categories
Asset Growth ($) Canadian Fixed Income: $2.312 billion Canadian Neutral Balanced: $1.089 billion
High Yield Fixed Income: $1.303 billion Global Equity Balanced: $1.036 billion
Cdn. Fixed Income Balanced: $1.249 billion Global Fixed Income: $773 million
Asset Growth Alternative Strategies: 7.8% Global Fixed Income: -10.9%
(as a % of starting assets) High Yield Fixed Income: 7.8% Precious Metals Equity: -9.2%
Tactical Balanced: 4.4% Natural Resources Equity: -5.5%
Net Sales ($) Canadian Fixed Income: $1.060 billion Canadian Money Market: -$461 million
Global Neutral Balanced: $907 million Canadian Equity Balanced: -$353 million
Cdn. Fixed Income Balanced: $882 million Canadian Equity: -$338 million
Net Sales Alternative Strategies: 11.3% Global Small/Mid Cap Equity: -3.6%
(as a % of starting assets) Tactical Balanced: 4.0% U.S. Money Market: -3.2%
Global Fixed Income Balanced: 2.9% Cdn. Inflation Protected Fix. Income: -3.1%
Performance Asia Pacific Equity: 1.8% Precious Metals Equity: -8.9%
(Fund category averages) International Equity: 1.6% Natural Resources Equity: -3.7%
Financial Services Equity: 1.5% Cdn. Small/Mid Cap Equity: -2.0%
Note: Asset growth figures can be affected by a change in the number of companies reporting to IFIC
and by fund category changes.
Source: IFIC except for Performance where the source is Fundata.
November 2012 – Did You Know?
Product Development Highlights According to the 2012 Investment Company Fact Book,
U.S.-registered investment companies managed
Vanguard Investment Canada launched five new ETFs on the Toronto Stock $13.0 trillion at the end of 2011, a $129 billion
Exchange. The new funds include currency-hedged and un-hedged S&P 500 decrease from a year earlier. While mutual funds
index funds, a Canadian dividend fund, a Canadian REIT fund and a experienced net outflows of $100 billion in 2011, ETF
short-term Canadian corporate bond fund. The firm also introduced a assets grew $118 billion over the same period.
distribution reinvestment program. However, mutual funds still retain the lion’s share
RBC Asset Management launched two new low-volatility equity products: (90%) of industry assets in the U.S.
RBC QUBE Low Volatility Canadian Equity and RBC QUBE Low Volatility U.S.
Equity. A third low-volatility fund, focused on global equities has received Investment Company Net Assets ($ billions)
final prospectus approval. The management fees on the new funds that are
currently available are 1.75% (Series A). The firm also launched BlueBay
Global Convertible Bond, which will invest primarily in a geographically
diversified portfolio of bonds that are convertible to equities (1.70%
management fees for Series A). $11,622
Mutual Funds
Scotia Asset Management launched five new funds that will hold combina-
tions of funds from bank-owned ScotiaFunds, Dynamic Funds and Scotia
Private Pools as well as CI Funds: Scotia Canadian Equity Blend Class, Scotia Closed-end
U.S. Equity Blend Class, Scotia International Equity Blend Class, Scotia Fixed funds
Income Blend Class, and Scotia Selected Income Portfolio. Scotia also $239
launched Scotia U.S. Dividend. $1,048
ETFs
BMO Exchange Traded Funds launched BMO S&P/TSX Laddered Share Index.
$60
The fund essentially creates an interest-rate ladder by holding equal amounts UITs
of preferred shares whose reset dates fall over the next five years or “term
buckets”. The firm also launched BMO S&P 500 Index, BMO S&P/TSX Equal Source: 2012 Investment Company Fact Book
Weight Industrials Index and BMO S&P/TSX Equal Weight Global Gold Index.
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©2012 EquiSoft consulting and software solutions.

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MARK BOKER MARK BOKER
1 2
MARK BOKER MARK BOKER
ABC111 Fund 1 3 4
ABC222 Fund 2
ABC333 Fund 3
ABC444 Fund 4
ABC111 Fund 1
ABC222 Fund 2
ABC333 Fund 3
ABC444 Fund 4
ABC555 Fund 5
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ASSETS & LIABILITIES DETAILS YOUR RETIREMENT NEEDS - CURRENT PLAN YOUR EDUCATION NEEDS - CURRENT PLAN
The following values have been provided by you and should reflect your best estimate of your total assets and liabilities. You have identified the current investments listed below as investments that will be used to fund your child/children's post-
secondary education.
You are not on target to achieve your goal.
Assets Liabilities
Investable Non-Investable
The estimated total value of the selected account(s) will be $1,179,728 at the time of retirement. Based on the
$439,150 $550,000 assumptions provided, this will result in a shortfall of $1,993,718 at the end of the projection period. Example, Junior
Based on this scenario, the household will experience a retirement income shortfall when Jill Example
reaches 70. Investments
Name Type Total Expected Return Owner
The projection below displays the calculated change in the value of your investments year by year for the
Junior's RESP RESP $9,756.00 5.00% Example, Jack
duration of your estimated life expectancy.
You are not on target to achieve your goal.
$2,000,000
Home
$550,000
Jill's TFSA
$13,750
Junior's RESP
$9,756
Based on the assumptions provided, Junior Example will require savings of $96,945.11 at the time post-
Home Mortgage
$257,900
Personal Line of Credit
$54,236
secondary education begins in order to meet education related expenses.
Retirement Account
$415,644
Based on the current savings strategy, the estimated value of the education savings at the time this child
$0 begins post-secondary education will be $12,451.40.
$100,000
Name Amount Owner Type ($2,000,000)
50 60 70 80 90
Assets
$50,000 $96,945
Life expectancy (Jill Example) Registered Investments
Registered Investments Retirement year (Jill Example) Non-Registered Investments Projected Costs
Retirement Account $415,644.00 Example, Jack RRSP/RRIF Life expectancy (Jack Example) Shortfall
Retirement year (Jack Example)
Junior's RESP $9,756.00 Example, Jack RESP Projected Savings $12,451
$0
Non-Registered Investments
Shortfall
Jill's TFSA $13,750.00 Example, Jill TFSA
($84,494)
Personal Properties This projection displays your various incomes sources, your retirement income objective and an achievable ($50,000)
Home $550,000.00 Example, Jack Residence goal year by year for the duration of your estimated life expectancy using the assumptions you provided.
Liabilities
Long-Term Liabilities ($100,000)
$200,000
Home Mortgage $257,900.00 Example, Jack Mortgage
Liabilities
Personal Line of Credit $54,236.00 Example, Jack Line of Credit
$100,000
$0
70 80 90
Age of Jack Example
Income Goal Other Income Pension Benefits Sav. Withdrwls
Shortfall Earned Income Gov. Benefits Loans
This report is provided for illustration purposes only. The ability to forecast your future financial situation is impacted by a wide variety of factors many of which This report is provided for illustration purposes only. The ability to forecast your future financial situation is impacted by a wide variety of factors many of which
can change significantly over time and not all of which can be included in this calculation. You should regularly review your current financial position and can change significantly over time and not all of which can be included in this calculation. You should regularly review your current financial position and
future goals to improve the likelihood of achieving success. future goals to improve the likelihood of achieving success.
REPORT PREPARED FOR MR JACK EXAMPLE AND MRS JILL EXAMPLE ON 05/24/2012 Page 6 of 32 REPORT PREPARED FOR MR JACK EXAMPLE AND MRS JILL EXAMPLE ON 05/24/2012 Page 12 of 32 REPORT PREPARED FOR MR JACK EXAMPLE AND MRS JILL EXAMPLE ON 05/24/2012 Page 20 of 32
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INVESTMENTS FINANCIAL PLANNING INSURANCE
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