(As of 12/31/2025)

Dynamic Total Return Bond Fund Series A

(Canadian Fixed Income)

FundGrade A+^® Rating recipient
For more information about FundGrade click here

2018
2017
2016

Inception Return (8/31/2010)	1.72 %
YTD Return	2.80 %

NAVPS (1/22/2026)	$7.21
Change	$0.01 / 0.13 %

Growth of $10,000 (As of December 31, 2025)

MER	1.64 %
Assets ($mil)	$2,337.38
Rank (1Yr)	192/471
Std Dev (3Yr)	4.91 %
Volatility Ranking (3Yr)	2/10
RRSP Eligibility	Yes
Load	Choice of Front or No Load
Max Front End	5.00 %
Max Back End	6.00 %
Sales Status	Open

Objective

Dynamic Total Return Bond Fund seeks to provide income and capital returns from an actively managed diversified portfolio of primarily Canadian fixed income securities. Before a fundamental change is made to the investment objective of the Fund, the prior approval of unitholders is required. This approval must be given by a resolution passed by a majority of the votes cast at a meeting of unitholders

Fund Manager

1832 Asset Management L.P.

Portfolio Manager

Romas Budd, 1832 Asset Management L.P.

Philippe Nolet, 1832 Asset Management L.P.

Rose Devli, 1832 Asset Management L.P.

Sub-Advisor

Asset Allocation
(As of October 31, 2025)

Sector Allocation
(As of October 31, 2025)

Geographic Allocation
(As of October 31, 2025)

Top 10 Holdings

Name	Asset	Sector	Geographic	Percent
Merrill Lynch Credit Default Swap variable 1.00% 20-Dec-2030	Other	Other	United States	27.50%
Canada Government 3.25% 01-Dec-2035	Domestic Bonds	Fixed Income	Canada	12.66%
Canada Housing Trust No 1 3.60% 15-Sep-2035	Domestic Bonds	Fixed Income	Canada	6.48%
Canada Government 2.75% 01-Sep-2027	Domestic Bonds	Fixed Income	Canada	5.35%
Ontario Province 4.15% 02-Jun-2034	Domestic Bonds	Fixed Income	Canada	4.47%
Canada Government 3.25% 01-Jun-2035	Domestic Bonds	Fixed Income	Canada	3.18%
Cash and Cash Equivalents	Cash and Equivalents	Cash and Cash Equivalent	Canada	2.91%
Quebec Province 3.10% 01-Dec-2051	Domestic Bonds	Fixed Income	Canada	2.76%
Canada Government 1.75% 01-Dec-2053	Domestic Bonds	Fixed Income	Canada	2.61%
Ontario Province 2.25% 02-Dec-2031	Domestic Bonds	Fixed Income	Canada	2.58%

Performance Data (As of December 31, 2025)

	Return (%)				Annualized Return (%)
Return	1 Mth	3 Mth	6 Mth	YTD	1 Yr	3 Yr	5 Yr	10 Yr
Fund	-0.94	-0.10	1.75	2.80	2.80	3.49	-1.29	0.75
Benchmark	-1.36	-0.35	1.06	2.40	2.40	4.28	-0.47	1.83
Quartile Ranking	1	1	1	2	2	4	4	4

Calendar Return (%)	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Fund	2.80	2.04	5.66	-12.28	-3.61	7.03	4.29	0.77	1.68	0.57
Benchmark	2.40	4.10	6.38	-11.46	-2.71	8.61	6.97	1.29	2.70	1.54
Quartile Ranking	2	4	4	3	4	4	4	2	3	4

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