Mutual Fund Monthly ReviewMutual Fund Industry Vital SignsStarting assets (July 31, 2012) $659.4 billion+ net sales $1.6 billion+/- estimated market effect $5.3 billion (0.8%)= Ending assets (August 31, 2012) $666.3 billion

Vitals Signs by Fund Category for August 2012

EquiSoft specializes in the design and development of digital business solutions primarily for the financial industry. For more information please contact: Jonathan Georges, CIM, FCSI , Vice President, Financial Products. T: 514.989.3141 X 201 | T: 888.989.3141 | Jonathan.Georges@equisoft.com | www.equisoft.com. ©2011 EquiSoft consulting and software solutions.

Did You Know?According to the J.D. Power and Associates 2012 Canadian Full Service Investor Satisfaction Study, Canadian investor satisfaction with full service investment firms has declined for the second consecutive year. In contrast, satisfaction among U.S. full service investors has risen over the same period.

August 2012 – Product Development Highlights Blackrock Asset Management Canada launched iShares U.S. High Dividend Equity Index. The new ETF is a currency-hedged version of a fund that was launched in the U.S. back in March 2011. The fund tracks the Morningstar Dividend Yield Focus Index (comprised of 75 U.S. stocks), an index which screens for high dividend stocks using quantitative and qualitative criteria. The management fees on the new fund are 0.30%.

PowerShares Canada launched PowerShares Tactical Bond ETF. The new ETF will provide exposure to various fixed income asset classes and provide active allocation among those asset classes. The fund will gain exposure primarily through investments in other PowerShares ETFs. The fund is also allowed to invest up to 10% of its assets in gold and silver through the use of ETF derivatives. The management fees are set at 0.49%.

Dynamic Funds announced it will implement fixed administra-tive fees for its mutual funds. The new fixed fees will be lower than or equal to the actual operating expenses charged during the fund’s most recently completed financial year. The move is to provide increased fee predictability and transparency to investors.

Source: J.D. Power and Associates 2012 Canadian Full Service Investor Satisfaction Study

August 2012

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.

Top 3 Categories Bottom 3 Categories

Asset Growth ($) Global Neutral Balanced: $1.023 billion Emerging Markets Equity: -$125 million Canadian Fixed Income: $983 million Canadian Money Market: -$98 million Cdn. Fixed Income Balanced: $716 million Cdn. Infl. Protected Fixed Income: -$75 million

Asset Growth Alternative Strategies: 15.1% Japanese Equity: -5.6%(as a % of starting assets) Precious Metals Equity: 10.3% Greater China Equity: -5.3% Miscellaneous – Other: 7.7% 2015 Target Date Portfolio: -5.0%

Net Sales ($) Canadian Fixed Income: $968 million Canadian Equity Balanced: -$319 million Cdn. Fixed Income Balanced: $442 million Canadian Equity: -$315 million Global Neutral Balanced: $393 million Canadian Money Market: -$272 million

Net Sales Alternative Strategies: 10.3% U.S. Synthetic Money Market: -1.8%(as a % of starting assets) Miscellaneous – Other: 6.4% Cdn. Synthetic Money Market: -1.7% Tactical Balanced: 2.7% Financial Services Equity: -1.3%

Performance Precious Metals Equity: 9.4% Greater China Equity: -2.8%(Fund category averages) Global Small/Mid Cap Equity: 2.2% Japanese Equity: -2.4% Natural Resources Equity: 2.2% Asia Pacific Equity: -1.5%

Overall Investor Satisfaction with Full Service Firms

ON A 1,000-POINT SCALE

710

715

720

725

730

735

740

2011 2012

Please do not hesitate to contact us for more information.Jonathan Georges, CIM, FCSI Vice-président, Produits fi nanciers / Vice President, Financial Products

EquiSoft CONSEILS ET SOLUTIONS INFORMATIQUES / CONSULTING AND SOFTWARE SOLUTIONS

T: 514.989.3141 X 201 | T: 888.989.3141 | F: 514.989.3140Jonathan.Georges@equisoft .com | www.equisoft .com

CONSULTING AND SOFTWARE SOLUTIONSCONSULTING AND SOFTWARE SOLUTIONS

Please do not hesitate to contact us for more information.Jonathan Georges, CIM, FCSI Vice-président, Produits financiers / Vice President, Financial Products

EquiSoftCONSEILS ET SOLUTIONS INFORMATIQUES / CONSULTING AND SOFTWARE SOLUTIONS

T: 514.989.3141 X 201 | T: 888.989.3141 | F: 514.989.3140 Jonathan.Georges@equisoft.com | www.equisoft.com

EquiSoft specializes in the design and development of digital business solutions primarily for the financial industry.Designing and developing industry-leading business solutions for financial sector clients is second nature to us. Years of delivering successful projects have made the EquiSoft team a highly sought-after resource. Knowledge, expertise, an entrepreneurial spirit and first-rate client care are some of the hallmarks of our brand.

Each month this space features an EquiSoft product or service that exemplifies our commitment to the financial industry. This month’s edition highlights our Registered Education Savings Plan (RESP) calculator. The availability of such a calculator can drive traffic to both your investor and advisor sites and help to reinforce your firm’s position as provider of value-added services.

If the user has already started to save for child’s post-secondary education, the results will show...

Help feature provides useful insights to guide the user when making assumptions related to future post-secondary education (e.g. years of study, tuition costs and room and board costs).

Ability to project needs for multiple children.

... a projection of their current savings plan;

... the projected surplus or shortfall for their current savings plan;

... how much more they need to save each year.

If the user has not yet started to save for a child’s post-secondary education, the results will show how much they should save each year to cover anticipated education costs.

Considers eligibility for government grants: Canada Education Savings Grant, Canada Learning Bond, Quebec Education Savings Incentive and Alberta Centennial Education Savings Plan.

CONSULTING AND SOFTWARE SOLUTIONS

Please do not hesitate to contact us for more information.Jonathan Georges, CIM, FCSI Vice-président, Produits financiers / Vice President, Financial Products

EquiSoft CONSEILS ET SOLUTIONS INFORMATIQUES / CONSULTING AND SOFTWARE SOLUTIONS

T: 514.989.3141 X 201 | T: 888.989.3141 | F: 514.989.3140 Jonathan.Georges@equisoft.com | www.equisoft.com