Annual Financial Statement– as at March 31, 2010 · Annual Financial Statementsas at March 31, 2010 – 3 – CI Mutual Funds Management and Auditors’ Reports MANAGEMENT’S RESPONSIBILITY

Annual Financial Statement – as at March 31 , 2010

A look inside - Signature

Overview ...................................................................................................................................1

About the CI Funds Board of Governors and

Letter from the CI Funds Board of Governors...................................................................2

Management and Auditors’ Reports .....................................................................................3

Equity Funds

Signature Canadian Resource Fund ..............................................................................................4

Signature Select Canadian Fund .................................................................................................11

Balanced Funds

Signature Canadian Balanced Fund ............................................................................................19

Signature Global Income & Growth Fund ...................................................................................31

Signature Income & Growth Fund ...............................................................................................42

Income Funds

Signature Canadian Bond Fund ...................................................................................................54

Signature Corporate Bond Fund...................................................................................................62

Signature Diversified Yield Fund .................................................................................................72

Signature Dividend Fund..............................................................................................................78

Signature High Income Fund........................................................................................................88

Signature Mortgage Fund............................................................................................................98

Signature Short-Term Bond Fund...............................................................................................103

Notes to the Financial Statements ....................................................................................109

Legal Notice..........................................................................................................................116

– 1 –

Enclosed are the Financial Statements for your

CI Investments mutual funds for the year ending

March 31, 2010. Inside is important information about

each fund, including its financial statements for the

period and a list of the portfolio holdings as of the end

of the year.

Additional information about your funds can be found

on our website, www.ci.com.

If you have any questions about your investments, please

contact your financial advisor. CI is proud to partner with

advisors across Canada. We believe investors are most

successful when they follow an investment plan

developed with the assistance of a qualified advisor.

You may also contact CI Client Services at 1-800-792-9355.

Thank you for investing with us.

ABOUT CI INVESTMENTS

CI has been investing on behalf of Canadians since 1965

and has grown to become one of Canada’s largest

investment fund companies. We manage over $68 billion

on behalf of 1.7 million Canadians. CI is a subsidiary of

CI Financial Corp., a TSX-listed financial services firm

with $90.5 billion in fee-earning assets at March 31, 2010.

CI provides one of the industry’s widest selections of

investment products and services and a strong lineup

of leading portfolio management teams. Our portfolio

management expertise is offered through several

platforms, including mutual funds, tax-efficient funds,

segregated funds, and managed solutions.

2 Queen Street East, Twentieth FloorToronto, Ontario M5C 3G7www.ci.com

Telephone: 416-364-1145Toll Free: 1-800-268-9374Facsimile: 416-364-6299

– 2 –

The CI Funds Board of Governors was voluntarily established by CI in 1998 making it one of the first

such fund governance bodies in Canada.

The Board of Governors acts as an independent governance body the Funds, providing impartial

judgment on conflicts of interest with a view to the best interests of the Funds and investors.

The Board of Governors recommends the best course of action to achieve a fair and reasonable result

on any conflict of interest issues, and CI takes into account its recommendation in accordance with

its fiduciary duty to the Funds. All of the members of the Board are independent of CI.

The Board of Governors mandate is set out in a separate charter and reviewed annually by

the Board to ensure its mandate conforms to the expectations and requirements of Canadian

securities regulators. Along with dealing with conflicts of interest, the mandate provides that the

Board acts as an audit committee for the Funds for the purpose of reviewing the financial statements

of the Funds with the auditors of the Funds and reviews holdings, purchases and sales by the Funds

of securities of The Bank of Nova Scotia and CI Financial Corp.

The Board also reviews and discusses on a regular basis matters including compliance of the Funds

with CI’s relevant policies and procedures, approval of the Funds’ auditors and the fees paid to those

auditors, and the performance of the Board and its members.

The Board of Governors adheres to the requirements set out by Canadian securities regulators in

National Instrument 81-107 Independent Review Committee for Investment Funds which requires all

mutual funds in Canada to have independent review committees.

The Board of Governors are compensated as recommended by the Canadian securities regulators

in their rule and as set out in its mandate. These expenses are paid by CI and charged to the Funds

as part of their administration fee.

The members of the Board of Governors are:

William Harding, Managing Partner, Alpine Asset Advisors AG

Governor since June 2005

Stuart P. Hensman, Corporate Director

Governor since December 2004

Christopher M. Hopper, President, KLQ Mechanical Ltd.

Governor since May 2007

Sharon M. Ranson, President, The Ranson Group

Governor since December 2004

Further information regarding the Board is available at www.ci.com including the Board’s full

mandate.

About the CI Funds Board of Governors

The Funds Board of Governors is pleased to report on its activities in respect of the annual period

ended March 31, 2010 and to date. The Governors are appointed pursuant to the Declarations of Trust

governing the Funds.

The Governors have reviewed, commented on and approved the CI Code of Ethics and Conduct, which

establishes rules of conduct designed to ensure fair treatment of the Funds’ securityholders and that,

at all times, the interests of the Funds and their securityholders are placed above personal interests

of employees, officers and directors of the Manager and each of its subsidiaries and affiliates, the

subadvisers, and the Governors, through the application of the highest standards of integrity and

ethical business conduct. The CI Code of Ethics and Conduct requires the prior clearance of personal

trades and restricts the ability of staff to trade any securities held by the Funds. The objective is not

only to remove any potential for real conflict of interest but to avoid any perception of conflict. The

Manager's year 2009 report on compliance with the CI Code of Ethics and Conduct and other relevant

policies has been provided to the Governors in a timely and satisfactory manner.

The Governors report that management has been open and cooperative, permitting the Governors to

meet with subadvisers, to meet with individual department heads and personnel to review control

mechanisms and compliance procedures, including those relating to the personal securities trading

activity of employees, and to consider other matters that affect the Funds. During 2009, the Governors

also acted as the audit committee of the Funds. The audit committee reviewed, with the Funds’

auditors, the planning, scope and results of the audit of the financial statements of the Funds for the

year 2009. In May 2010, the Board of Governors received and accepted the Annual Financial

Statements of the Funds.

Stuart P. Hensman

Chair, Board of Governors

May 27, 2010

Letter from the CI Funds Board of Governors

Annual Financial Statements as at March 31, 2010

– 3 –Annual Financial Statements as at March 31, 2010

CI Mutual FundsManagement and Auditors’ Reports

MANAGEMENT’S RESPONSIBILITY

FOR FINANCIAL REPORTING

The accompanying financial statements have been prepared by CI Investments Inc., the Manager of

the Funds, and approved by the Board of Directors of the Manager. The Manager is responsible for

the information and representations contained in these financial statements and other sections of

this report.

CI Investments Inc. maintains appropriate processes to ensure that relevant and reliable financial

information is produced. The financial statements have been prepared in accordance with accounting

principles generally accepted in Canada and include certain amounts that are based on estimates and

judgments. The significant accounting policies which management believes are appropriate for the

Funds are described in Note 2 to the financial statements.

The Board of Directors is responsible for reviewing and approving the financial statements and

overseeing the Manager’s performance of its financial reporting responsibilities. They also review the

adequacy of internal controls, the audit process and financial reporting with external auditors.

PricewaterhouseCoopers LLP are the external auditors of the Funds. They have audited the financial

statements in accordance with Canadian generally accepted auditing standards to enable them to

express to the unitholders their opinion on the financial statements. Their audit report follows.

Chief Executive Officer

CI INVESTMENTS INC.

Chief Financial Officer

CI INVESTMENTS INC.

AUDITORS’ REPORT

To the Unitholders of the CI Mutual Funds as listed in Note 1 to the financial statements

(the “Funds”).

We have audited the Statement of Investment Portfolio of each of the Funds as at March 31, 2010

and the Statements of Net Assets, Operations and Changes in Net Assets as at and for the periods

indicated in Note 1. These financial statements are the responsibility of the Funds' management.

Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with Canadian generally accepted auditing standards.

Those standards require that we plan and perform an audit to obtain reasonable assurance whether

the financial statements are free of material misstatement. An audit includes examining, on a test basis,

evidence supporting the amounts and disclosures in the financial statements. An audit also includes

assessing the accounting principles used and significant estimates made by management, as well as

evaluating the overall financial statement presentation.

In our opinion, these financial statements present fairly, in all material respects, the financial position

of each of the Funds, the results of each of their operations and the changes in each of their net

assets as at and for the periods indicated in Note 1, in accordance with Canadian generally accepted

accounting principles.

PRICEWATERHOUSECOOPERS LLP

Chartered Accountants, Licensed Public Accountants

Toronto, Ontario

May 27, 2010

MATERIALS (39.1%) (cont’d)115,800 Inmet Mining Corp. 5,711,047 6,818,304 338,200 Kinross Gold Corp. 7,215,664 5,861,006 805,700 Paladin Resources Ltd. 4,056,916 2,956,919

2,400,062 Petra Diamonds Ltd., Private Placement^ 2,516,160 2,700,648 54,004 Potash Corp. of Saskatchewan Inc. 6,176,280 6,547,445

346,700 Quadra Mining Ltd. 3,254,455 5,387,718 118,800 Randgold Resources Ltd., ADR* 7,999,761 9,270,053 115,300 Red Back Mining Inc.* 2,018,857 2,391,322 228,100 Rio Tinto PLC 13,124,989 13,729,950 724,500 SEMAFO Inc.* 3,437,915 4,093,425 176,100 Sino-Forest Corp., Class A 3,022,925 3,495,585 211,284 South Australian Coal Corp.* - -

USD 676,000 Teck Resources Ltd., 10.25% 05/15/2016 752,256 816,906 USD 1,710,000 Teck Resources Ltd., 10.75% 05/15/2019 1,961,188 2,127,211

250,300 Teck Resources Ltd., Class B 4,144,625 11,068,266 242,300 Thompson Creek Metals Co., Inc.* 3,170,544 3,324,356 99,100 United States Steel Corp. 6,582,196 6,392,380

AUD 1,600,000 Western Areas Ltd., 8% 07/02/2012 705,000 1,533,774 803,900 Western Areas NL* 3,539,159 4,007,627 850,720 Xstrata PLC 12,197,079 16,371,852

231,332,852 260,306,698 CONSUMER STAPLES (2.2%)

70,100 Bunge Ltd.* 5,021,027 4,387,212 100,900 The Mosaic Co. 5,959,379 6,220,565 387,100 Viterra Inc.* 3,171,007 3,696,805

14,151,413 14,304,582 FINANCIALS (1.0%)

465,212 Central Fund of Canada Ltd. 6,535,290 6,609,172

UTILITIES (1.0%) 293,254 TransAlta Corp.* 8,249,846 6,560,092

INDUSTRIALS (0.6%) 187,500 Finning International Inc. 3,382,481 3,446,250 13,300 Russel Metals Inc.* 248,049 269,059

3,630,530 3,715,309

Commission and other portfolio transaction costs (647,947)

Total Bonds & Equities (89.7%) 548,716,552 596,364,000

Short Term Notes (8.3%) 55,000,000 55,000,000

DERIVATIVE INSTRUMENTS

Foreign Currency Forward Contracts (1.0%)(see Schedule A) 6,729,419

Total Investments (99.0%) 603,716,552 658,093,419

Other Assets (net) (1.0%) 7,083,351

Net Assets (100.0%) 665,176,770

Principal amounts stated in:AUD Australian Dollar USD U.S. Dollar

Signature Canadian Resource FundStatement of Investment Portfolio as at March 31, 2010

– 4 – CIG - 611

No. of Shares/ Average FairPar Value Cost ($) Value ($)

ENERGY (45.8%) 181,700 Anadarko Petroleum Corp. 10,817,083 13,438,279 119,276 Apache Corp. 11,919,404 12,292,911 473,200 ARC Energy Trust* 9,000,250 9,691,136 96,200 Baytex Energy Trust* 2,318,584 3,303,508

490,400 Bonavista Energy Trust 9,868,237 11,450,840 656,200 BP PLC 5,927,440 6,304,577 290,130 Canadian Natural Resources Ltd. 19,295,447 21,809,072 141,200 Canadian Oil Sands Trust 4,145,238 4,298,128 217,523 Celtic Exploration Ltd.* 2,560,284 4,252,575 253,501 Cenovus Energy Inc. 7,648,628 6,720,312 80,450 Chevron Corp. 7,145,084 6,195,060

2,400,900 Connacher Oil and Gas Ltd.* 2,160,810 3,577,341 63,600 Consol Energy Inc.* 2,396,892 2,754,575

163,200 Continental Resources Inc.* 5,140,683 7,051,770 85,100 Devon Energy Corp. 6,780,291 5,567,960

559,401 EnCana Corp. 18,813,689 17,621,132 190,500 Energy Resources of Australia Ltd. 3,841,703 3,354,967 293,700 Halliburton Co 9,311,225 8,977,365 141,500 Helmerich & Payne Inc.* 5,572,571 5,463,198 350,135 Imperial Oil Ltd. 15,051,935 13,735,796 770,681 MacArthur Coal Ltd.* 5,831,240 10,075,435 70,600 National Oilwell Varco Inc. 3,321,980 2,906,477

348,176 Nexen Inc. 8,369,494 8,739,218 207,500 Occidental Petroleum Corp. 15,564,060 17,813,890 71,000 Peabody Energy Corp. 3,026,434 3,292,818

144,414 PetroBakken Energy Ltd* 3,326,223 3,824,083 60,400 Petrobank Energy and Resources Ltd. 3,253,132 3,346,764

225,600 Petroleo Brasileiro SA, ADR 6,507,681 9,069,911 6,089,800 Result Energy Inc. 1,705,144 2,222,777

149,200 Schlumberger Ltd. 10,377,232 9,614,956 215,300 Southwestern Energy Co.* 9,086,050 8,902,874 723,900 Suncor Energy Inc. 23,385,883 23,881,461

1,254,094 Talisman Energy Inc. 21,595,639 21,745,990 369,300 Trican Well Service Ltd. 4,557,758 4,845,216 82,000 Whiting Petroleum Corp.* 5,841,140 6,725,775

285,464,568 304,868,147 MATERIALS (39.1%)

172,400 Agnico-Eagle Mines Ltd.* 9,994,657 9,756,116 440,800 Alcoa Inc. * 6,339,813 6,374,263 424,902 Barrick Gold Corp. 17,070,867 16,537,186 389,100 BHP Billiton PLC 9,913,807 13,554,775 236,517 Cameco Corp. 7,165,607 6,568,077 239,200 Centerra Gold Inc.* 2,480,217 3,169,400 44,100 CF Industries Holdings Inc. 4,901,198 4,075,737

143,200 Cliffs Natural Resources Inc.* 7,205,978 10,317,485 754,700 Consolidated Thompson Iron Mines Ltd.* 3,605,207 7,184,744 718,500 Eldorado Gold Corp.* 9,313,569 8,830,365

1,255,500 Equinox Minerals Ltd. 4,733,748 4,796,010 65,900 First Quantum Minerals Ltd.* 5,924,516 5,506,604

305,100 FNX Mining Co., Inc.* 4,020,490 4,137,156 126,000 Franco-Nevada Corp. 3,355,040 3,428,460 207,197 Freeport-McMoRan Copper & Gold Inc.,

Class B (USD)* 13,942,068 17,564,845 391,399 Goldcorp Inc. 14,291,349 14,810,538 21,653 HMZ Metals Inc., Restricted Shares 30,554 -

491,000 HudBay Minerals Inc.* 6,382,550 6,240,610 636,400 IAMGOLD Corp. 9,074,601 8,559,580

*Denotes all or part of securities on loan.^Denotes illiquid securities.Percentages shown in brackets relate investments at fair value to net assets of the Fund.The accompanying notes are an integral part of these financial statements.



Signature Canadian Resource FundStatement of Investment Portfolio as at March 31, 2010

– 5 –

††CI Investments Inc., the Manager, is a corporation controlled by CI Financial Corp. Bank of Nova Scotia has a significant interest in CI Financial Corp. Transactions with Bank of Nova Scotia are identified above.Percentages shown in brackets relate investments at fair value to net assets of the Fund.The accompanying notes are an integral part of these financial statements.

Schedule AForeign Currency Forward Contracts (1.0%)

Credit Rating Settlement Contract UnrealizedContracts Counterparty of the Counterparty* Date Rate ($) Pay Receive Gain (Loss) ($)

1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (14,008,000) US $ 14,870,753 Canadian $ 644,341 1 Credit Suisse First Boston Corporation A-1 17-Jun-10 1.06 (15,158,000) US $ 16,089,535 Canadian $ 695,195 1 Morgan Stanley A-1 17-Jun-10 1.06 (13,340,000) US $ 14,161,877 Canadian $ 613,881 1 Royal Bank of Canada A-1+ 17-Jun-10 1.06 (10,020,000) US $ 10,632,022 Canadian $ 455,797 1 Royal Bank of Canada A-1+ 17-Jun-10 1.03 (3,270,000) US $ 3,351,848 Canadian $ 31,000 1 State Street Trust Company of Canada A-1 17-Jun-10 1.06 (13,510,000) US $ 14,341,270 Canadian $ 620,625 1 UBS AG A-1 08-Jun-10 1.09 (2,452,000) Australian $ 2,251,966 Canadian $ (14,792)1 UBS AG A-1 08-Jun-10 1.74 (15,386,000) British Pound 26,767,640 Canadian $ 3,058,306 1 UBS AG A-1 17-Jun-10 1.06 (13,586,000) US $ 14,422,898 Canadian $ 625,066

Total Foreign Currency Forward Contracts Value 6,729,419

*Credit ratings are obtained from Standard & Poor’s, where available, otherwise ratings are obtained from: Moody's Investors Service, Dominion Bond Rating Services and Canadian Bond Rating Services.


Signature Canadian Resource FundFinancial Statements


AssetsInvestments at fair value*CashShort term investmentsMargin for short salesIncome taxes recoverableDaily variation margin on derivative investmentsUnrealized gain on forward currency contractsCash collateral received for securities on loan (Note 6)Swaps, swaptions and options at fair valueReceivable for unit subscriptionsReceivable for securities soldManagement fee rebate receivableReceivable for dividends and accrued interest

LiabilitiesBank overdraftManagement fees payableAccrued expensesUnrealized loss on forward currency contractsSwaps, swaptions and options at fair valuePayable for securities purchasedPayable for unit redemptionsPayable for cash collateral under securities lending (Note 6)Investments sold short at fair value**Distributions payable

Net assets and unitholders' equity

**Investments at cost**Investments sold short at cost

Net assets per classClass AClass F

Net assets per unit (see Schedule of Net Assets per Unit and Net Asset Value per Unit)

Class AClass F

Number of units outstanding(see Schedule of Fund Unit Transactions)

Class AClass F

IncomeDividendsInterest Securities lending (Note 6)Derivative income (loss)Income distribution from investmentsManagement fee rebateLess: Foreign withholding taxes

ExpensesManagement fees (Note 5)Administrative fees (Note 5)Interest expenseGoods and services tax

Net investment income (loss) for the year

Realized and unrealized gain (loss) on investments and commissions and other portfolio transaction costs

Realized gain (loss) on investmentsForeign exchange gain (loss)Commissions and other portfolio transaction costsCapital gain distribution from investmentsChange in unrealized appreciation (depreciation)

of investmentsNet gain (loss) on investmentsIncrease (decrease) in net assets from operations

Increase (decrease) in net assets from operations per classClass AClass F

Increase (decrease) in net assets from operationsper unit (Note 2)

Class AClass F

596,364 365,7422,639 170

55,000 78,000- -- -- -

6,744 535- -- -

1,365 1,1858,256 19,380

- -886 947

671,254 465,959

- -- -- -

15 1,214- -

5,154 13,109908 638

- -- -- -

6,077 14,961665,177 450,998

548,717 381,321- -

658,508 448,3386,669 2,660

19.65 14.8724.26 18.18

33,518,868 30,148,841274,962 146,320

7,021 6,6351,775 3,568

125 228- -- -- -

(596) (570)8,325 9,861

11,680 10,6791,173 1,080

- 1643 587

13,496 12,347(5,171) (2,486)

85,360 (91,111)283 3,984

(1,839) (1,791)- -

70,635 (87,828)154,439 (176,746)149,268 (179,232)

147,953 (178,456)1,315 (776)

4.67 (6.07)5.51 (6.46)

Statements of Operations for the years ended March 31(in $000’s except for per unit amounts)

2010 2009

Statements of Net Assets as at March 31(in $000’s except for per unit amounts and units outstanding)

2010 2009

The accompanying notes are an integral part of these financial statements.

Signature Canadian Resource FundFinancial Statements

– 7 –

Class ANet assets, beginning of yearCapital transactions

Proceeds from units issued Reinvested distributions (Note 7)Amounts paid for units redeemed

Distributions to investorsFrom realized gainsFrom net incomeFrom return of capital

Increase (decrease) in net assets from operationsNet assets, end of year

Class FNet assets, beginning of yearCapital transactions




Total FundNet assets, beginning of yearCapital transactions




450,998 592,407

200,769 179,253- -

(135,858) (141,430)64,911 37,823

- -- -- -- -

149,268 (179,232)665,177 450,998

448,338 589,065

194,812 177,508- -

(132,595) (139,779)62,217 37,729

- -- -- -- -

147,953 (178,456)658,508 448,338

2,660 3,342

5,957 1,745- -

(3,263) (1,651)2,694 94

- -- -- -- -

1,315 (776)6,669 2,660

Statements of Changes in Net Assets for the years ended March 31 (in $000’s)

2010 2009


Statements of Changes in Net Assets (cont’d)for the years ended March 31 (in $000’s)

2010 2009


Signature Canadian Resource FundFinancial Statements – Supplementary Schedules

– 8 –

Class ABalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedBalance, end of year

Class FBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedBalance, end of year

Schedule of Securities Lending (Note 6)as at March 31 (in $000’s)

2010 2009

LoanedCollateral (non-cash)

76,862 28,04178,499 29,885

Schedule of Commissionsfor the years ended March 31 (in $000’s)

2010 2009

Brokerage commissionsSoft Dollar commissions†

1,828 1,779142 133

Schedule of Fund Unit Transactions for the years ended March 31

2010 2009

30,148,841 28,439,28410,577,785 9,780,734

- -(7,207,758) (8,071,177)33,518,868 30,148,841

146,320 133,305280,149 85,468

- -(151,507) (72,453)274,962 146,320

†A portion of brokerage commissions paid was used to cover research and market data services, termed soft dollar commissions. This amount has been estimated by the Manager of the Fund.The accompanying notes are an integral part of these financial statements.

Annual management fee rateClass AClass F

Annual fixed administration fee rateClass AClass F

2.001.00

0.200.20

Schedule of Fees (Note 5)as at March 31 (%)

2010

Class ANet assets per unitNet asset value per unit

Class FNet assets per unitNet asset value per unit

19.65 14.8719.67 14.89

24.26 18.1824.28 18.21

Schedule of Net Assets per Unit and Net Asset Value per Unit (Note 2)as at March 31 (in $)

2010 2009

Net capital loss carried forward

Non-capital losses expiring:2010201420152026202720282029Total

1,920

--------

Schedule of Tax Loss Carry Forwards (Note 4)as at March 31 (in $000’s)

2010


Signature Canadian Resource FundFund Specific Financial Instruments Risks (Note 11)

The Fund’s investments were concentrated in the following segments:

as at March 31, 2009

Percentage ofCategories Net Assets (%)

Energy ...................................................................................................................................... 44.8Materials.................................................................................................................................. 34.2Short Term Investments........................................................................................................... 17.3Other Assets ............................................................................................................................ 1.7Industrials ................................................................................................................................ 0.9Utilities..................................................................................................................................... 0.9Consumer Staples.................................................................................................................... 0.3Warrants .................................................................................................................................. 0.1Foreign Currency Forward Contracts ....................................................................................... -0.2

Other Price RiskAs at March 31, 2010 and 2009, the Fund was invested in Canadian equities and therefore wassensitive to changes in general economic conditions in Canada, however some of the Fund’s assetswere invested in fixed income securities and their market risk exposure is described below.

As at March 31, 2010, had the Canadian markets increased or decreased by 10% (March 31, 2009 -10%), with all other variables held constant, net assets of the Fund would have increased ordecreased, respectively, by approximately $59,189,000 (March 31, 2009 - $35,743,000). In practice,actual results may differ from this analysis and the difference may be material.

Credit RiskThe Fund was invested in fixed income securities, preferred securities and derivative instruments, asapplicable, with the following credit ratings:

as at March 31, 2010*Net Assets

Credit Rating^ (%)AAA/Aaa/A++ 8.4AA/Aa/A+ 0.8BB/Ba/B+ 0.4Not Rated 0.2Total 9.8

– 9 –


Credit Risk (cont’d)


Credit Rating^ (%)AAA/Aaa/A++ 8.9AA/Aa/A+ 8.6BBB/Baa/B++ 1.3BB/Ba/B+ 0.2Not Rated 0.2Total 19.2

*Credit ratings are obtained from Standard & Poor’s, where available, otherwise ratings areobtained from: Moody's Investors Service, Dominion Bond Rating Services and Canadian BondRating Services, respectively.

^Refer to Note 11 for Credit Rating cross reference.

Currency RiskThe tables below summarize the Fund's exposure to currency risk.

as at March 31, 2010Financial Instruments Derivatives Total Currency Net

Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 199,941 (84,177) 115,764 17.4 British Pound 52,763 (23,716) 29,047 4.4 Australian Dollar 19,055 (2,285) 16,770 2.5 Total 271,759 (110,178) 161,581 24.3


Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 138,660 (80,158) 58,502 13.0 British Pound 18,773 (12,656) 6,117 1.4 Australian Dollar 2,735 (1,892) 843 0.2 Total 160,168 (94,706) 65,462 14.6

As at March 31, 2010, had the Canadian dollar strengthened or weakened by 10% (March 31, 2009 -10%) in relation to all other foreign currencies held in the Fund, with all other variables heldconstant, net assets of the Fund would have decreased or increased, respectively, by approximately$16,158,000 (March 31, 2009 - $6,546,000). In practice, actual results may differ from this analysisand the difference may be material.


Signature Canadian Resource FundFund Specific Financial Instruments Risks (Note 11)

– 10 –


Fair Value HierarchyThe table below summarizes the inputs used by the Fund in valuing the Fund’s investments andderivatives carried at fair value.

Long Positions at fair value as at March 31, 2010Level 1 Level 2 Level 3 Total

(in $000's) (in $000's) (in $000's) (in $000's)

Equities - long 591,886 - - 591,886 Bonds - 4,478 - 4,478 Short-term notes - 55,000 - 55,000 Foreign currency forward contracts - 6,729 - 6,729 Total 591,886 66,207 - 658,093

Interest Rate RiskThe tables below summarize the Fund's exposure to interest rate risk, categorized by the contractualmaturity date.


Interest Rate Exposure



As at March 31, 2010, had the prevailing interest rates increased or decreased by 0.25% (March 31,2009 - 0.25%), with all other variables held constant, net assets of the Fund would have decreasedor increased, respectively, by approximately $47,000 (March 31, 2009 - $2,000). In practice, theactual results may differ from this analysis and the difference may be material.

Less than 1 - 3 3 - 5 Greater 1 Year Years Years than 5 Years Total

(in $000’s) (in $000’s) (in $000’s) (in $000’s) (in $000’s)

57,639 1,534 - 2,944 62,117



78,170 - 1,869 6,439 86,478


INFORMATION TECHNOLOGY (8.6%) 941,300 Activision Inc. 12,025,755 11,508,877

3,686,900 Advanced Micro Devices Inc.* 22,059,382 34,632,314 1,253,523 EMC Corp.* 20,039,169 22,963,985

801,000 Finisar Corp. 12,081,045 12,762,445 287,300 FormFactor Inc.* 7,071,235 5,181,518 26,600 Google Inc., Class A 11,345,875 15,297,823

1,591,900 Intel Corp. 32,538,559 35,984,822 866,400 JDS Uniphase Corp.* 7,630,336 11,015,423 359,000 Maxim Integrated Products Inc.* 6,985,849 7,068,881

2,110,300 Micron Technology Inc.* 15,447,179 22,201,503 1,121,900 Microsoft Corp. 28,012,890 33,335,494

748,800 NVIDIA Corp.* 9,185,377 13,215,817 632,400 Research In Motion Ltd. (USD) 45,036,989 47,497,110 784,800 Symantec Corp. 15,332,827 13,476,621

244,792,467 286,142,633 INDUSTRIALS (8.2%)

268,600 BE Aerospace Inc. 6,857,330 8,294,703 3,846,400 Bombardier Inc., Class B, Sub-Voting Shares 15,048,079 23,770,752

517,800 Canadian National Railway Co. 27,450,002 31,829,166 1,021,300 Finning International Inc. 18,698,574 18,771,494

676,200 Ingersoll-Rand PLC 18,640,233 23,923,887 220,200 Joy Global Inc. 12,686,253 12,656,458 245,100 Parker-Hannifin Corp. 14,904,309 16,113,669 273,800 Randstad Holding NV 14,800,918 13,215,794 173,023 Schneider Electric SA* 15,411,498 20,609,901 380,100 SNC-Lavalin Group Inc. 14,973,862 18,826,353 86,200 TransDigm Group Inc. 4,436,220 4,635,896

487,100 Union Pacific Corp. 26,482,409 36,257,723 1,273,400 Weir Group PLC 13,277,089 18,352,663

796,200 WestJet Airlines Ltd.* 9,466,259 10,844,244 133,400 WW Grainger Inc.* 11,644,234 14,646,717

224,777,269 272,749,420 MATERIALS (7.5%)

280,500 Agrium Inc.* 13,396,827 20,125,875 1,202,600 Barrick Gold Corp. 47,119,629 46,805,192

477,400 BHP Billiton PLC 12,010,542 16,630,813 661,590 Cameco Corp. 22,412,957 18,372,354 395,600 Freeport-McMoRan Copper & Gold Inc.,

Class B (USD)* 34,047,877 33,536,454 861,700 Goldcorp Inc. 32,923,407 32,606,728

4,051,100 Paladin Resources Ltd.* 20,269,216 14,867,537 222,796 Potash Corp. of Saskatchewan Inc. 25,427,521 27,011,787 255,800 Rio Tinto PLC 12,566,007 15,397,287 147,400 United States Steel Corp.* 8,074,475 9,507,939 755,500 Xstrata PLC 15,426,719 14,539,372


204,700 Alimentation Couche-Tard Inc., Class B 4,897,013 3,778,762 238,234 British American Tobacco PLC* 8,177,288 8,339,567 336,100 Bunge Ltd.* 24,104,681 21,034,835 767,305 CVS Corp. 26,632,092 28,487,388 710,910 Diageo PLC 13,398,155 12,108,756 192,387 Groupe Danone* 15,388,706 11,768,347 601,700 Nestle SA, Registered Shares 23,363,103 31,270,015 234,200 PepsiCo Inc.* 14,566,624 15,734,785 335,808 Procter & Gamble Co. 24,317,514 21,579,229 554,044 Saputo Inc.* 11,728,917 16,333,217

Signature Select Canadian FundStatement of Investment Portfolio as at March 31, 2010

– 11 – CIG - 677


FINANCIALS (24.1%) 5,858,370 Aberdeen Asset Management PLC 15,811,448 11,739,316 2,304,600 Banco Santander Brasil SA 31,278,681 28,730,016 1,090,400 Banco Santander Central Hispano SA 17,864,024 14,710,191 4,120,500 Bank of America Corp. 62,999,574 74,523,331 4,035,300 Bank of America Corp., Warrants (16Jan19) 34,723,974 38,888,435

279,300 Bank of Nova Scotia†† 12,237,987 14,185,647 3,274,700 Barclays PLC* 17,943,946 18,184,365 1,095,200 Brookfield Asset Management Inc., Class A 23,912,417 28,267,112

429,300 Canadian Imperial Bank of Commerce 27,168,129 31,828,302 12,595,100 China Construction Bank Corp., Class H 10,292,244 10,444,067

331,300 Credit Suisse Group 15,551,070 17,329,175 33,100 Fairfax Financial Holdings Ltd.,

Sub-Voting Shares* 12,251,628 12,577,338 114,300 FBR Capital Markets Corp.* 718,612 528,124 862,955 Genworth MI Canada Inc.* 16,548,883 23,627,708 398,800 Gluskin Sheff & Associates Inc. 8,151,472 8,817,468

1,239,800 Hosted Data Transaction Solutions Inc. 2,414,083 619,900 892,800 HSBC Holdings PLC 9,448,857 9,192,916

1,794,066 JPMorgan Chase & Co 23,323,516 28,002,107 585,057 KKR Private Equity Investors LP 15,601,801 6,737,358 333,400 Lazard Ltd. 12,448,150 12,083,439 268,074 Macquarie Group Ltd. 11,883,774 11,790,390

1,978,300 Manulife Financial Corp.* 39,129,196 39,506,651 288,000 MetLife Inc. 12,600,978 12,669,497 600,300 Moody's Corp.* 17,487,623 18,135,675

4,510,000 Morgan Stanley, FRN 0.66286% 02/23/2012 4,502,017 4,421,424 146,300 National Bank of Canada 8,655,527 9,045,729

1,390,300 Prudential PLC* 8,457,167 11,701,022 1,775,600 Royal Bank of Canada 98,370,972 105,239,812

146,900 Sun Life Financial Inc. 4,261,103 4,790,409 228,200 TMX Group Inc.* 6,711,827 6,802,642

2,093,783 Toronto-Dominion Bank 125,348,839 158,436,560 571,500 Wells Fargo & Co. 15,112,783 18,037,472 592,100 Western Union Co. 10,364,631 10,197,632

733,576,933 801,791,230 ENERGY (18.9%)

254,300 Apache Corp. 26,598,535 26,208,854 1,332,400 Canadian Natural Resources Ltd. 83,004,077 100,156,508

717,900 Canadian Oil Sands Trust 21,863,678 21,852,876 823,500 Cenovus Energy Inc. 24,345,078 21,830,985

1,520,300 EnCana Corp. 50,230,625 47,889,450 954,800 Halliburton Co 30,110,889 29,184,841 938,600 Imperial Oil Ltd. 37,413,247 36,821,278

1,097,591 Nexen Inc. 27,314,314 27,549,534 540,100 Occidental Petroleum Corp. 41,607,378 46,367,624

16,608,200 Result Energy Inc. 4,650,296 6,061,993 228,800 Schlumberger Ltd. 14,856,845 14,744,651 548,100 Spectra Energy Corp. 12,504,780 12,540,054

3,631,245 Suncor Energy Inc.* 116,682,675 119,794,773 4,899,500 Talisman Energy Inc. 78,616,880 84,957,330

706,300 TransCanada Corp.* 22,205,072 26,288,486 99,100 Transocean Ltd. 6,746,977 8,691,905

598,751,346 630,941,142

*Denotes all or part of securities on loan.Percentages shown in brackets relate investments at fair value to net assets of the Fund.The accompanying notes are an integral part of these financial statements.



– 12 –



CONSUMER STAPLES (7.3%) (cont’d)263,959 Shoppers Drug Mart Corp. 12,236,136 11,519,171 613,600 Unilever NV* 19,145,754 18,851,186

1,911,800 Viterra Inc.* 16,302,314 18,257,690 1,284,900 Wal-Mart de Mexico SA de CV* 4,431,127 6,651,859

282,400 Wal-Mart Stores Inc. 16,342,304 15,944,757 235,031,728 241,659,564

HEALTH CARE (6.5%) 630,100 Amylin Pharmaceuticals Inc. 10,368,307 14,313,765

1,536,500 Eli Lilly and Co.* 64,287,696 56,514,440 725,000 Johnson & Johnson 50,168,376 48,002,518 736,200 Merck & Co., Ltd. 29,152,187 27,900,749

2,687,000 Patheon Inc.* 19,218,049 6,717,500 213,400 Roche Holding AG 36,357,636 35,131,210

1,851,600 Smith & Nephew PLC 16,282,212 18,737,193 445,612 Talecris Biotherapeutics Holdiings 9,125,558 9,000,571

234,960,021 216,317,946 TELECOMMUNICATION SERVICES (5.8%)

2,186,800 BCE Inc.* 66,085,868 65,122,904 440,941 Manitoba Telecom Services Inc.* 15,553,691 14,066,018

1,602,000 Rogers Communications Inc., Class B* 45,963,143 55,445,220 1,656,380 TELUS Corp., Non-Voting Shares 63,644,166 60,176,285

191,246,868 194,810,427 CONSUMER DISCRETIONARY (3.3%)

201,100 BorgWarner Inc.* 6,458,595 7,796,980 525,500 Bridgestone Corp.* 9,101,565 9,098,595 271,100 DaimlerChrysler AG, Registered Shares* 12,979,503 12,910,675 304,000 Honda Motor Co., Ltd. 10,292,839 10,880,335 281,800 Johnson Controls Inc.* 7,357,977 9,440,646 578,901 RONA Inc. 11,153,241 8,874,552

2,057,854 Tesco PLC 15,089,467 13,806,257 30,653 Volkswagen AG, Preferred 2,745,473 2,733,308

210,500 Volkswagen AG, Private Placement^ 19,895,786 19,422,772 210,500 Volkswagen AG, Rights (13Apr10) - 137,166

2,181,600 Yellow Pages Income Fund 12,531,850 13,416,840 107,606,296 108,518,126

UTILITIES (0.9%) 153,700 Sempra Energy 10,631,656 7,788,482

1,024,000 TransAlta Corp.* 32,611,592 22,906,880 43,243,248 30,695,362

Commission and other portfoliotransaction costs (3,668,428)

Total Bonds & Equities (91.1%) 2,853,992,925 3,033,027,188

Short Term Notes (6.0%) 201,000,000 201,000,000


Foreign Currency Forward Contracts (1.5%) (see Schedule A) 49,707,708

Total Investments (98.6%) 3,054,992,925 3,283,734,896

Other Assets (net) (1.4%) 49,425,489

Net Assets (100.0%) 3,333,160,385




– 13 –




1 State Street Corporation A-1 17-Jun-10 1.02 (37,838,420) Canadian $ 37,000,000 US $ (263,181)1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.02 (37,814,370) Canadian $ 37,000,000 US $ (239,159)1 Royal Bank of Canada A-1+ 17-Jun-10 1.03 (17,260,480) Canadian $ 16,839,000 US $ (159,638)1 Morgan Stanley A-1 17-Jun-10 1.07 (2,194,847) Canadian $ 2,044,000 US $ (118,949)1 UBS AG A-1 08-Jun-10 1.09 (2,102,000) Australian $ 1,930,519 Canadian $ (12,681)1 UBS AG A-1 08-Jun-10 1.08 (2,951,000) Australian $ 2,720,261 Canadian $ (7,808)1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.38 (5,978,000) Euro 8,238,174 Canadian $ 36,938 1 UBS AG A-1 17-Jun-10 1.07 (4,901,000) US $ 5,232,896 Canadian $ 255,445 1 Morgan Stanley A-1 08-Jun-10 1.50 (9,022,000) Euro 13,576,937 Canadian $ 1,198,497 1 Morgan Stanley A-1 17-Jun-10 1.07 (26,691,000) US $ 28,462,215 Canadian $ 1,354,904 1 State Street Corporation A-1 17-Jun-10 1.07 (26,691,000) US $ 28,498,648 Canadian $ 1,391,296 1 State Street Corporation A-1 17-Jun-10 1.07 (26,200,000) US $ 28,051,030 Canadian $ 1,442,248 1 Royal Bank of Canada A-1+ 17-Jun-10 1.07 (26,200,000) US $ 28,109,718 Canadian $ 1,500,869 1 UBS AG A-1 08-Jun-10 1.04 (19,720,000) Swiss Franc 20,560,085 Canadian $ 1,550,916 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.57 (8,391,000) Euro 13,136,245 Canadian $ 1,623,051 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (42,747,000) US $ 45,148,526 Canadian $ 1,735,286 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.51 (13,757,000) Euro 20,714,039 Canadian $ 1,839,033 1 Morgan Stanley A-1 08-Jun-10 1.56 (15,026,000) Euro 23,497,366 Canadian $ 2,880,392 1 Royal Bank of Canada A-1+ 17-Jun-10 1.06 (63,824,000) US $ 67,722,370 Canadian $ 2,903,270 1 Morgan Stanley A-1 17-Jun-10 1.06 (84,971,000) US $ 90,206,063 Canadian $ 3,910,202 1 State Street Corporation A-1 17-Jun-10 1.06 (86,054,000) US $ 91,348,903 Canadian $ 3,953,163 1 UBS AG A-1 17-Jun-10 1.06 (86,536,000) US $ 91,866,618 Canadian $ 3,981,356 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (89,226,000) US $ 94,721,429 Canadian $ 4,104,226 1 Credit Suisse Group A-1 17-Jun-10 1.06 (96,548,000) US $ 102,481,357 Canadian $ 4,428,005 1 UBS AG A-1 08-Jun-10 1.74 (52,422,000) British Pound 91,200,650 Canadian $ 10,420,027




Signature Select Canadian FundFinancial Statements






Net assets per classClass AClass FClass IInsight UnitsClass Z


Class AClass FClass IInsight UnitsClass Z









Increase (decrease) in net assets from operations per classClass AClass FClass IInsight UnitsClass Z



3,033,027 2,254,3412,254 5,353

201,000 490,000- -- -- -

50,509 14,455- -- -

6,844 4,50940,714 37,208

- -7,052 7,250

3,341,400 2,813,116

- -- -- -

801 14,301- -

2,227 4,3685,212 3,193

- -- -- -

8,240 21,8623,333,160 2,791,254

2,853,993 2,578,272- -

2,712,208 2,055,52335,800 21,002

540,052 678,4702,425 2,382

42,675 33,877

17.48 12.9812.58 9.2513.16 9.5512.46 9.159.66 7.15

155,205,046 158,401,6812,846,184 2,271,296

41,042,408 71,037,692194,688 260,211

4,419,161 4,736,437

77,433 84,3952,706 15,615

634 1,444(1,820) 3,230

- -- -

(4,969) (6,816)73,984 97,868

50,753 52,1535,133 5,267

1 202,793 2,868

58,680 60,30815,304 37,560

408,478 (622,287)(4,354) (3,182)(8,314) (9,412)

- -

552,519 (355,986)948,329 (990,867)963,633 (953,307)

706,021 (732,256)8,057 (7,317)

237,194 (200,730)760 (895)

11,601 (12,109)

4.51 (4.47)3.20 (3.13)4.01 (3.04)3.45 (2.96)2.52 (2.44)


2010 2009


2010 2009


Signature Select Canadian FundFinancial Statements

– 15 –


Proceeds from units issued Reinvested distributions (Note 7)Amounts paid for units redeemedAcquisition of assets from terminated Funds (Note 1)







Class INet assets, beginning of yearCapital transactions




Insight UnitsNet assets, beginning of yearCapital transactions




Class ZNet assets, beginning of yearCapital transactions








2,382 4,372

363 463- 46

(1,080) (1,558)- -

(717) (1,049)

- -- (46)- -- (46)

760 (895)2,425 2,382

33,877 50,475

1,417 1,566- 330

(5,293) (6,054)1,073 -(2,803) (4,158)

- -- (331)- -- (331)

11,601 (12,109)42,675 33,877

2,791,254 3,886,107

642,215 543,651- 34,766

(1,103,174) (685,092)39,232 -

(421,727) (106,675)

- -- (34,871)- -- (34,871)

963,633 (953,307)3,333,160 2,791,254

2,055,523 2,985,369

532,081 392,938- 14,628

(581,417) (590,434)- -

(49,336) (182,868)

- -- (14,722)- -- (14,722)

706,021 (732,256)2,712,208 2,055,523

21,002 29,142

14,840 9,771- 368

(8,099) (10,584)- -

6,741 (445)

- -- (378)- -- (378)

8,057 (7,317)35,800 21,002

678,470 816,749

93,514 138,913- 19,394

(507,285) (76,462)38,159 -

(375,612) 81,845

- -- (19,394)- -- (19,394)

237,194 (200,730)540,052 678,470


2010 2009



2010 2009



2010 2009



2010 2009


499,741 243,600513,998 259,619

8,236 9,304642 697

Signature Select Canadian FundFinancial Statements – Supplementary Schedules

– 16 –

Class ABalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedAcquisition of assets from terminated Funds (Note 1)Balance, end of year

Class FBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedAcquisition of assets from terminated Funds (Note 1)Balance, end of year

Class IBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedAcquisition of assets from terminated Funds (Note 1)Balance, end of year

Insight UnitsBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedAcquisition of assets from terminated Funds (Note 1)Balance, end of year

Class ZBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedAcquisition of assets from terminated Funds (Note 1)Balance, end of year


2010 2009

158,401,681 170,110,68332,933,759 25,974,728

- 1,118,426(36,130,394) (38,802,156)

- -155,205,046 158,401,681

2,271,296 2,330,0781,272,502 913,427

- 39,623(697,614) (1,011,832)

- -2,846,184 2,271,296

71,037,692 63,227,4407,993,178 12,648,844

- 2,028,683(41,197,829) (6,867,275)

3,209,367 -41,042,408 71,037,692

260,211 353,43231,757 40,856

- 5,006(97,280) (139,083)

- -194,688 260,211

4,736,437 5,218,869156,528 170,971

- 45,886(595,161) (699,289)121,357 -

4,419,161 4,736,437

Annual management fee rateClass AClass FClass IInsight UnitsClass Z

Annual fixed administration fee rateClass AClass FClass IInsight UnitsClass Z

2.001.00

Paid directly by investor0.951.75

0.200.20

-0.200.20


2010



Class INet assets per unitNet asset value per unit

Insight UnitsNet assets per unitNet asset value per unit

Class ZNet assets per unitNet asset value per unit

17.48 12.9817.50 13.00

12.58 9.2512.59 9.26

13.16 9.5513.17 9.57

12.46 9.1512.47 9.17

9.66 7.159.67 7.16


2010 2009



184,521

--------


2010



Signature Select Canadian FundFund Specific Financial Instruments Risks (Note 11)




Financials ................................................................................................................................. 22.6Short Term Investments........................................................................................................... 17.6Materials.................................................................................................................................. 14.9Energy ...................................................................................................................................... 10.7Consumer Staples.................................................................................................................... 7.3Industrials ................................................................................................................................ 6.7Information Technology ........................................................................................................... 6.4Telecommunication Services ................................................................................................... 4.9Health Care .............................................................................................................................. 3.9Consumer Discretionary........................................................................................................... 2.0Other Assets ............................................................................................................................ 1.5Utilities..................................................................................................................................... 1.3Foreign Currency Forward Contracts ....................................................................................... 0.1Warrants .................................................................................................................................. 0.1

Other Price RiskAs at March 31, 2010 and 2009, the Fund was predominantly invested in Canadian equities andtherefore was sensitive to changes in general economic conditions in Canada, however some of theFund’s assets were invested in fixed income securities and their market risk exposure is describedbelow.

As at March 31, 2010, had the Canadian markets increased or decreased by 10% (March 31, 2009 -10%), with all other variables held constant, net assets of the Fund would have increased ordecreased, respectively, by approximately $302,861,000 (March 31, 2009 - $220,080,000). In practice, actual results may differ from this analysis and the difference may be material.



Credit Rating^ (%)AAA/Aaa/A++ 1.9AA/Aa/A+ 5.7A 0.1Total 7.7

– 17 –




Credit Rating^ (%)AAA/Aaa/A++ 8.8AA/Aa/A+ 1.2A 1.0Not Rated 9.1Total 20.1





Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 1,144,136 (576,505) 567,631 17.0 British Pound 175,857 (80,805) 95,052 2.9 Swiss Franc 87,004 (18,996) 68,008 2.0 Euro 119,860 (71,574) 48,286 1.4 Brazilian Real 28,850 - 28,850 0.9 Japanese Yen 21,065 - 21,065 0.6 Hong Kong Dollar 10,444 - 10,444 0.3 Australian Dollar 11,790 (4,709) 7,081 0.2 Mexican Peso 6,652 - 6,652 0.2 Total 1,605,658 (752,589) 853,069 25.5


Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 989,113 (590,542) 398,571 14.3 British Pound 125,333 (72,013) 53,320 1.9 Euro 54,710 (29,387) 25,323 0.9 Hong Kong Dollar 13,840 - 13,840 0.5 Australian Dollar 32,231 (19,611) 12,620 0.5 Israeli Shekel 11,275 - 11,275 0.4 Swiss Franc 30,990 (25,673) 5,317 0.2 Mexican Peso 4,439 - 4,439 0.2 Brazilian Real 1,110 - 1,110 0.1 Japanese Yen 7 - 7 0.1 Total 1,263,048 (737,226) 525,822 19.1

As at March 31, 2010, had the Canadian dollar strengthened or weakened by 10% (March 31, 2009- 10%) in relation to all other foreign currencies held in the Fund, with all other variables heldconstant, net assets of the Fund would have decreased or increased, respectively, by approximately$85,307,000 (March 31, 2009 - $52,582,000). In practice, actual results may differ from thisanalysis and the difference may be material.


Signature Select Canadian FundFund Specific Financial Instruments Risks (Note 11)

– 18 –







As at March 31, 2010, had the prevailing interest rates increased or decreased by 0.25% (March 31, 2009 - 0.25%), with all other variables held constant, net assets of the Fund would havedecreased or increased, respectively, by approximately $5,000 (March 31, 2009 - $2,000).In practice, the actual results may differ from this analysis and the difference may be material.



(in $000's) (in $000's) (in $000's) (in $000's)

Equities - long 3,025,873 2,733 - 3,028,606 Bonds - 4,421 - 4,421 Short-term notes - 201,000 - 201,000 Foreign currency forward contracts - 49,708 - 49,708 Total 3,025,873 257,862 - 3,283,735



203,254 4,421 - - 207,675



501,732 21,896 - 25,266 548,894


FINANCIALS (27.3%) (cont’d)312,900 Hosted Data Transaction Solutions Inc. 508,231 156,450 810,000 HSBC Bank Canada 4.94% 03/16/2021 811,608 833,866

2,825,000 HSBC Canada Asset Trust Securities 5.149% 06/30/2015 2,828,148 2,855,669

324,500 HSBC Holdings PLC 3,434,312 3,341,287 3,210,000 Inter-American Development Bank

4.4% 01/26/2026 2,976,560 3,042,109 651,415 JPMorgan Chase & Co 8,492,977 10,167,403

USD 11,841,000 JPMorgan Chase & Co., FRN, Callable, 7.9% 04/30/2049 11,396,754 12,819,313

1,950,000 Kimco North Trust III 5.18% 08/16/2013 1,910,286 1,966,443 129,672 KKR Private Equity Investors LP 3,591,903 1,493,268 121,200 Lazard Ltd.* 4,516,674 4,392,660

USD 588,000 Lincoln National Corp., Callable, 7% 05/17/2066 260,492 543,372

97,450 Macquarie Group Ltd. 4,319,900 4,286,031 1,975,000 Manulife Financial Capital Trust

6.7% 06/30/2012 2,041,544 2,135,337 718,900 Manulife Financial Corp. 14,385,453 14,356,433

3,800,000 Merrill Lynch & Co., Inc., 4.5% 01/30/2012 3,617,607 3,885,103 2,950,000 Merrill Lynch Canada Finance Co.,

5.8% 05/05/2011 2,964,617 3,048,904 1,400,000 MetLife Global Funding I 4.5% 02/10/2011 1,406,048 1,435,790

104,600 MetLife Inc. 4,576,614 4,601,491 2,050,000 MI Developments Inc., 6.05% 12/22/2016 1,900,804 1,929,144

215,000 Moody's Corp. 6,263,311 6,495,369 1,930,000 Morgan Stanley, FRN,

Floating Rate, 02/23/2012 1,915,518 1,892,095 53,200 National Bank of Canada 3,147,375 3,289,356

975,000 National Bank of Canada 4.456% 11/02/2016 984,367 1,009,361 4,575,000 Nordea Bank AB 3.95% 08/05/2015 4,550,184 4,609,077

507,000 Prudential PLC 3,544,521 4,267,006 2,000,000 RBC Capital Trust, Callable,

5.812% 12/29/2049 1,874,487 2,151,760 3,750,000 RioCan REIT 4.7% 06/15/2012 3,654,187 3,855,722

645,300 Royal Bank of Canada 35,757,966 38,246,931 2,940,000 Royal Bank of Canada 3.27% 11/10/2014 2,939,588 2,940,877 3,680,000 Royal Bank of Canada 3.66% 01/25/2017 3,678,638 3,637,017 2,230,000 Royal Bank of Canada 5.06% 07/17/2013 2,262,941 2,384,619 3,485,000 Royal Bank of Scotland

1.23429% 03/30/2015 3,400,173 2,997,100 7,365,000 Royal Bank of Scotland, Callable,

5.37% 05/12/2049 6,507,388 5,302,800 2,158,492 Royal Office Finance LP 5.209% 11/12/2032 2,140,251 2,175,815 2,460,000 Scotiabank Capital Trust, Series 2002-1,

Callable, 6.626% 06/30/2052†† 2,451,899 2,659,623 53,600 Sun Life Financial Inc. 1,558,429 1,747,896

3,050,000 Sun Life Financial Inc., 5% 07/11/2031 3,073,598 3,158,135 1,450,000 Sun Life Financial Inc., 7.9% 03/31/2019 1,512,711 1,654,274 3,835,000 TD Capital Trust 6.792% 12/31/2049 3,948,906 4,206,625 2,420,000 TD Capital Trust 7.243% 12/31/2018 2,503,426 2,775,881

82,800 TMX Group Inc. 2,444,499 2,468,268 760,171 Toronto-Dominion Bank 46,620,382 57,522,140

1,975,000 Toronto-Dominion Bank 4.854% 02/13/2013 1,995,925 2,093,427 2,700,000 Toronto-Dominion Bank 4.97% 10/30/2104 2,676,101 2,787,634

207,900 Wells Fargo & Co. 5,587,797 6,561,663 USD 13,615,000 Wells Fargo & Co., 7.98% 02/28/2049 9,763,397 14,448,154 USD 14,544,000 Wells Fargo Capital 7.7% 12/29/2049 12,891,773 15,249,386

Signature Canadian Balanced FundStatement of Investment Portfolio as at March 31, 2010

– 19 – CIG - 685


FINANCIALS (27.3%) 2,128,400 Aberdeen Asset Management PLC 5,393,950 4,265,002 1,610,000 American Express Canada 4.7% 05/20/2011 1,619,447 1,659,989

848,700 Banco Santander Brasil SA 11,527,269 10,580,215 396,900 Banco Santander Central Hispano SA 6,491,098 5,354,434

1,497,700 Bank of America Corp. 23,481,668 27,087,391 1,449,200 Bank of America Corp., Warrants (16Jan19) 12,470,444 13,966,030

USD 5,610,000 Bank of Ireland 2.75% 03/02/2012 5,912,928 5,694,450 2,180,000 Bank of Ireland 3.8% 09/22/2015 2,144,666 1,639,005 3,350,000 Bank of Montreal 5.18% 06/10/2015* 3,399,819 3,627,022 2,725,000 Bank of Montreal Capital Trust II,

Callable, 10.221% 12/31/2107 2,864,921 3,668,252 101,300 Bank of Nova Scotia†† 4,481,932 5,145,027

3,200,000 Bank of Nova Scotia 3.43% 07/16/2014†† 3,228,480 3,214,333 1,695,000 Bank of Nova Scotia 5.04% 04/08/2013†† 1,697,925 1,801,100 1,725,000 Bank of Nova Scotia 6% 10/03/2018†† 1,754,577 1,881,715 1,187,200 Barclays PLC 6,458,439 6,592,506 2,150,000 Bear Stearns Co., Inc., 4.3% 01/12/2011 2,184,405 2,197,722 2,430,000 Brookfield Asset Management Inc.,

8.95% 06/02/2014 2,466,782 2,803,829 372,000 Brookfield Asset Management Inc., Class A* 8,123,991 9,601,320

1,150,000 Calloway REIT 10.25% 04/14/2014 1,172,852 1,333,293 2,615,000 Canada Housing Trust No.1 4% 06/15/2012 2,776,644 2,724,148 3,405,000 Canada Housing Trust No.1 4.1% 12/15/2018 3,513,858 3,485,295 2,715,000 Canada Housing Trust No.1

4.55% 12/15/2012 2,915,964 2,871,462 155,900 Canadian Imperial Bank of Commerce 9,736,770 11,558,426

2,450,000 Canadian Western Bank 6.199% 12/31/2056 2,353,999 2,243,184 2,925,000 Canadian Western Bank 5.07% 03/22/2017 2,925,000 2,973,290 5,000,000 Canadian Western Bank 5.95% 06/27/2018 4,990,034 5,121,520 4,577,300 China Construction Bank Corp., Class H 3,740,398 3,795,574

9,916 CIT Group Inc. 324,463 391,911 USD 115,204 CIT Group Inc., 7% 05/01/2013 131,232 113,772 USD 172,807 CIT Group Inc., 7% 05/01/2014 195,802 165,833 USD 172,807 CIT Group Inc., 7% 05/01/2015 188,995 163,640 USD 288,011 CIT Group Inc., 7% 05/01/2016 302,778 269,807 USD 403,216 CIT Group Inc., 7% 05/01/2017 420,221 377,731

4,275,000 Citigroup Financial Canada Inc., 4.9% 11/13/2012 4,270,041 4,365,469

2,675,000 Commerzbank AG, FRN, 4.5% 12/15/2016 2,662,646 2,399,587 2,100,000 Co-operators Financial Services Ltd.,

5.07% 07/20/2012 2,103,306 2,164,895 120,500 Credit Suisse Group 5,656,146 6,302,945

1,500,000 Depfa ACS Bank 5.25% 03/31/2025 1,116,120 1,246,517 2,330,000 Deutsche Bank AG 4.9% 08/22/2016 2,285,497 2,149,074 1,675,000 ERAC Canada Finance Ltd., 5.38% 02/26/2016 1,697,144 1,684,315 3,850,000 European Investment Bank 4.6% 01/30/2037 3,562,674 3,517,399

12,000 Fairfax Financial Holdings Ltd., Sub-Voting Shares* 4,441,243 4,559,760

39,500 FBR Capital Markets Corp. 250,180 182,510 3,025,000 First Capital Realty Inc., 5.34% 04/01/2013 2,954,882 3,117,781 1,475,000 First Capital Realty Inc., 5.95% 06/01/2015 1,546,744 1,530,632 1,065,000 First Captial Realty Inc., 5.49% 12/01/2011 1,066,343 1,101,709 1,185,000 First Captial Realty Inc., 5.85% 01/31/2017 1,187,749 1,205,666

321,702 Genworth MI Canada Inc. 6,451,736 8,808,201 144,900 Gluskin Sheff & Associates Inc. 2,961,756 3,203,739

3,095,000 Great-West Life Capital Trust 5.995% 12/31/2052 3,298,459 3,315,541

*Denotes all or part of securities on loan.††CI Investments Inc., the Manager, is a corporation controlled by CI Financial Corp. Bank of Nova Scotia has a significant interest in CI Financial Corp. Investments in Bank of Nova Scotia are identified above.Percentages shown in brackets relate investments at fair value to net assets of the Fund.The accompanying notes are an integral part of these financial statements.



– 20 –

GOVERNMENT BONDS (12.1%) (cont’d)10,685,000 Canadian Government Bond, Series YF56,

4% 06/01/2017* 11,385,014 11,154,316 6,145,000 Canadian Government Bond, Series YL25,

4.25% 06/01/2018* 6,493,235 6,487,334 11,530,000 Canadian Government Bond, Series YN80,

3.5% 06/01/2013* 12,038,507 11,923,276 15,530,000 Canadian Government Bond, Series YR94,

3.75% 06/01/2019* 15,791,158 15,747,864 4,000,000 City of Montreal 6% 06/01/2043 4,703,580 4,465,929 6,100,000 City of Toronto 5.05% 07/18/2017 6,114,782 6,445,138 5,050,000 EUROFIMA 5.15% 12/13/2019 5,205,390 5,189,272 3,000,000 Instituto de Credito Oficial 4.53% 03/17/2016 3,075,836 3,014,859 1,985,000 Instituto de Credito Oficial 5% 03/31/2020 2,014,120 1,945,607 6,152,895 New Brunswick F-M Project Co., Inc.,

Callable, 6.47% 11/30/2027 6,995,807 6,961,114 148,537 Ontario School Boards Financing Corp.,

7.2% 06/09/2025 167,334 170,270 3,000,000 Province of British Columbia

4.7% 06/18/2037 2,955,840 2,988,443 4,790,000 Province of Ontario 4.4% 06/02/2019 4,950,465 4,869,849 2,150,000 Province of Ontario 4.7% 06/02/2037 2,150,563 2,123,534 5,451,000 Province of Quebec 4.5% 12/01/2016* 5,528,420 5,701,634 2,480,000 Province of Quebec 4.5% 12/01/2018 2,569,280 2,541,110 2,420,000 Province of Quebec 4.5% 12/01/2019 2,478,080 2,456,742 4,550,000 Province of Quebec 5.75% 12/01/2036 5,115,742 5,121,152 2,000,000 Queen's University 6.1% 11/19/2032 2,294,667 2,216,274 1,100,000 Simcoe City 6.8% 06/19/2026 1,209,054 1,263,893 4,060,000 University of British Columbia

6.65% 12/01/2031 4,512,486 4,760,735 8,500,000 University of Ottawa 6.28% 04/15/2043 9,504,088 9,628,324

216,064,047 215,111,771 INDUSTRIALS (6.9%)

3,037,214 Access Roads Edmonton Ltd., 5.812% 09/30/2037 3,292,647 3,054,183

4,125,000 Altalink 5.249% 09/22/2036 4,030,224 4,040,609 1,505,000 AltaLink Investments LP 5.019% 11/21/2012 1,499,401 1,557,337 1,550,000 AltaLink Investments LP 5.207% 12/16/2016 1,550,000 1,559,359

95,300 BE Aerospace Inc. 2,430,604 2,942,983 1,510,100 Bombardier Inc., Class B, Sub-Voting Shares 6,114,818 9,332,418

170,900 Canadian National Railway Co. 9,108,466 10,505,223 325,800 Finning International Inc. 5,909,176 5,988,204

2,155,000 Finning International Inc., 5.16% 09/03/2013 2,163,590 2,269,265 1,000,000 FortisAlberta Inc., 5.33% 10/31/2014 1,052,778 1,082,546 1,184,836 Greater Toronto Airports Authority

6.45% 07/30/2029 1,272,540 1,306,574 3,575,000 Holcim Finance Canada Inc.,

5.9% 06/21/2013 3,551,445 3,759,671 236,600 Ingersoll-Rand PLC 6,761,960 8,370,884 68,600 Joy Global Inc. 3,952,187 3,942,929 84,700 Parker-Hannifin Corp. 5,150,529 5,568,453 97,800 Randstad Holding NV 5,286,825 4,720,616 60,711 Schneider Electric SA* 5,569,362 7,231,684

122,500 SNC-Lavalin Group Inc. 5,056,032 6,067,425 950,000 SNC-Lavalin Group Inc., 6.19% 07/03/2019 961,058 1,016,126

8,590,410 Strait Crossing Development Inc., 6.17% 09/15/2031 8,351,823 8,240,952



FINANCIALS (27.3%) (cont’d)1,620,000 Wells Fargo Financial Canada

3.97% 11/03/2014 1,619,935 1,644,840 1,615,000 Wells Fargo Financial Canada Corp.,

4.38% 06/30/2015 1,615,661 1,660,332 215,200 Western Union Co. 3,767,047 3,706,351

451,497,330 486,113,575 ENERGY (13.7%)

2,302,073 Alliance Pipeline LP 6.765% 12/31/2025 2,521,797 2,551,827 500,000 AltaGas Income Trust 4.41% 09/01/2010 504,640 506,163

2,000,000 AltaGas Income Trust 5.07% 01/19/2012 1,999,300 2,066,070 90,100 Apache Corp. 9,445,720 9,285,953

474,600 Canadian Natural Resources Ltd. 30,033,321 35,675,682 4,315,000 Canadian Natural Resources Ltd.,

4.5% 01/23/2013 4,318,358 4,520,587 274,800 Canadian Oil Sands Trust 8,347,054 8,364,912 292,900 Cenovus Energy Inc. 8,518,664 7,764,779 415,000 Enbridge Gas Distribution Inc.,

6.9% 11/15/2032 500,237 496,504 535,200 EnCana Corp. 17,594,710 16,858,800 339,000 Halliburton Co 10,708,328 10,362,024 333,532 Imperial Oil Ltd. 13,520,583 13,084,460 391,990 Nexen Inc. 9,682,735 9,838,949

4,200,000 NOVA Gas Transmission Ltd., 8.9% 05/27/2025 5,352,500 5,488,346

188,300 Occidental Petroleum Corp. 14,685,439 16,165,569 5,999,200 Result Energy Inc. 1,679,776 2,189,708

81,600 Schlumberger Ltd. 5,298,595 5,258,582 192,600 Spectra Energy Corp. 4,250,424 4,406,522

1,290,580 Suncor Energy Inc. 42,499,504 42,576,234 1,605,000 Suncor Energy Inc. 5.8% 05/22/2018 1,434,663 1,723,313 1,759,000 Talisman Energy Inc. 29,610,697 30,501,060 2,000,000 Terasen Gas Vancouver Island Inc.,

6.05% 02/15/2038 2,016,150 2,128,699 249,700 TransCanada Corp.* 7,827,828 9,293,834 34,600 Transocean Ltd. 2,504,651 3,034,712

234,855,674 244,143,289 GOVERNMENT BONDS (12.1%)

15,750,000 55 Ontario School Board Trust 5.9% 02/06/2033 17,222,428 17,048,988

4,025,000 Austria Government International Bond 5.375% 12/01/2034 4,261,041 4,041,478

17,310,000 Canadian Government Bond 2% 12/01/2014* 16,713,776 16,705,213

1,965,000 Canadian Government Bond 3% 06/01/2014 2,001,140 1,988,097 21,790,000 Canadian Government Bond

3.5% 06/01/2020 21,522,445 21,490,017 6,026,000 Canadian Government Bond

3.75% 09/01/2011* 6,286,313 6,226,606 4,173,000 Canadian Government Bond 4% 06/01/2016* 4,444,184 4,379,665

13,780,000 Canadian Government Bond 4.5% 06/01/2015* 15,057,526 14,836,118

1,610,000 Canadian Government Bond 8% 06/01/2023 2,306,881 2,287,917 1,340,000 Canadian Government Bond, Residual Strip,

06/01/2025 689,989 707,773 7,135,000 Canadian Government Bond, Series XW98,

5% 06/01/2037* 8,304,876 8,223,230




– 21 –

CONSUMER STAPLES (5.3%) (cont’d)93,971 Shoppers Drug Mart Corp. 4,299,969 4,100,894

216,700 Unilever NV* 6,668,166 6,657,516 690,900 Viterra Inc.* 6,134,281 6,598,095 455,800 Wal-Mart de Mexico SA de CV* 1,613,850 2,359,652 101,200 Wal-Mart Stores Inc. 5,817,031 5,713,914

91,986,343 95,154,737 TELECOMMUNICATION SERVICES (5.2%)

735,600 BCE Inc. 21,306,132 21,906,168 1,070,000 Bell Aliant Regional Communications

Income Fund 6.17% 02/26/2037 999,829 1,009,135 1,240,000 Bell Aliant Regional Communications LP

5.41% 09/26/2016 1,249,029 1,293,973 280,000 Bell Canada 4.85% 06/30/2014 281,550 294,451

1,150,000 Bell Canada 5% 02/15/2017 1,060,712 1,194,325 4,375,000 France Telecom SA 4.95% 06/23/2011 4,407,027 4,534,699 1,800,000 France Telecom SA 5.5% 06/23/2016 1,894,346 1,899,455

212,126 Manitoba Telecom Services Inc.* 7,220,447 6,766,819 2,440,000 Northwest Connect Group 5.95% 04/30/2041 2,445,484 2,311,324 1,715,000 Rogers Communications Inc.,

5.8% 05/26/2016 1,733,782 1,859,822 564,100 Rogers Communications Inc., Class B* 16,674,136 19,523,501

6,900,000 Rogers Wireless Inc., 7.625% 12/15/2011 7,215,150 7,507,928 597,000 TELUS Corp., Non-Voting Shares* 21,697,847 21,689,010

88,185,471 91,790,610 HEALTH CARE (4.3%)

212,800 Amylin Pharmaceuticals Inc. 3,496,724 4,834,104 543,300 Eli Lilly and Co. 22,030,870 19,983,271 259,700 Johnson & Johnson 17,767,629 17,194,833 282,700 Merck & Co., Ltd. 10,866,732 10,713,857 842,400 Patheon Inc. 5,311,064 2,106,000 75,200 Roche Holding AG 12,919,355 12,379,883

Health Care (4.3%)658,100 Smith & Nephew PLC 5,869,240 6,659,617 156,200 Talecris Biotherapeutics Holdiings 3,222,107 3,154,963

81,483,721 77,026,528 CONSUMER DISCRETIONARY (2.8%)

84,300 BorgWarner Inc. 2,721,133 3,268,451 174,700 Bridgestone Corp. 3,151,611 3,024,785 99,700 DaimlerChrysler AG, Registered Shares* 4,798,580 4,748,042

109,400 Honda Motor Co., Ltd. 3,722,219 3,915,489 98,400 Johnson Controls Inc.* 2,606,591 3,296,521

204,063 RONA Inc. 3,519,718 3,128,286 2,210,000 Shaw Communications Inc.,

5.65% 10/01/2019 2,202,994 2,277,351 2,520,000 Shaw Communications Inc.,


6.75% 11/09/2039 1,559,418 1,614,613 735,338 Tesco PLC 5,239,864 4,933,424 10,300 Volkswagen AG, Preferred 922,532 918,444 78,300 Volkswagen AG, Private Placement^ 7,408,441 7,224,718 78,300 Volkswagen AG, Rights (13Apr10) - 51,022




INDUSTRIALS (6.9%) (cont’d)30,200 TransDigm Group Inc. 1,552,979 1,624,177

173,100 Union Pacific Corp. 9,895,487 12,884,853 449,800 Weir Group PLC 4,837,365 6,482,667 282,500 WestJet Airlines Ltd. 3,368,091 3,847,650 47,900 WW Grainger Inc.* 4,307,624 5,259,203

107,027,011 122,655,991 INFORMATION TECHNOLOGY (5.9%)

331,000 Activision Inc. 4,305,147 4,046,997 1,331,100 Advanced Micro Devices Inc. 8,214,639 12,503,478

441,000 EMC Corp. 7,234,393 8,078,924 290,400 Finisar Corp. 4,379,975 4,626,984 147,800 FormFactor Inc.* 3,586,779 2,665,605

9,500 Google Inc., Class A 4,305,217 5,463,508 521,800 Intel Corp. 10,646,968 11,795,264 456,800 JDS Uniphase Corp. 4,023,033 5,807,762 128,000 Maxim Integrated Products Inc.* 2,529,304 2,520,381 757,100 Micron Technology Inc.* 5,636,330 7,965,103 393,600 Microsoft Corp. 10,079,213 11,695,205 265,700 NVIDIA Corp.* 3,450,517 4,689,427 225,900 Research In Motion Ltd. (USD) 16,104,051 16,966,472 278,900 Symantec Corp. 5,448,935 4,789,283

1,920,000 Thomson Reuters Corp., 5.7% 07/15/2015 1,947,399 2,109,851 91,891,900 105,724,244

MATERIALS (5.6%) 100,100 Agrium Inc.* 4,986,343 7,182,175 434,800 Barrick Gold Corp. 16,933,490 16,922,416 169,100 BHP Billiton PLC 4,373,398 5,890,805 234,240 Cameco Corp. 7,555,746 6,504,845 141,200 Freeport-McMoRan Copper & Gold Inc.,

Class B (USD) 12,151,690 11,970,039 313,200 Goldcorp Inc. 12,118,227 11,851,488

6,000,000 Noranda Operating Trust 6.529% 12/20/2010 6,134,623 5,733,360 1,690,000 Paladin Resources Ltd.* 7,785,458 6,202,300

80,700 Potash Corp. of Saskatchewan Inc. 9,078,120 9,784,068 91,400 Rio Tinto PLC 4,452,857 5,501,611

2,950,000 Sherritt International Corp., 7.75% 10/15/2015 2,902,178 3,067,765

52,400 United States Steel Corp.* 2,870,438 3,380,027 270,400 Xstrata PLC 5,521,356 5,203,767


69,900 Alimentation Couche-Tard Inc., Class B 1,528,636 1,290,354 82,763 British American Tobacco PLC 3,048,993 2,897,183

120,400 Bunge Ltd. 8,633,624 7,535,240 276,359 CVS Corp. 9,730,010 10,260,257 249,851 Diageo PLC 4,495,374 4,255,651 730,000 George Weston Ltd., 7.1% 02/05/2032 827,032 789,179 66,940 Groupe Danone* 4,895,060 4,094,732

1,300,000 Loblaw Cos. Ltd., 6.05% 06/09/2034 1,051,572 1,272,712 840,000 Loblaw Cos. Ltd., 6.15% 01/29/2035 626,739 832,308

2,100,000 Metro Inc., 5.97% 10/15/2035 2,017,706 2,053,134 3,900,000 Molson Coors Capital Finance Co.,

Senior Notes, 5% 09/22/2015 3,848,544 4,094,410 213,100 Nestle SA, Registered Shares 8,643,725 11,074,689 82,600 PepsiCo Inc. 5,162,862 5,549,501

123,449 Procter & Gamble Co. 8,423,070 7,932,909 196,486 Saputo Inc. 4,520,099 5,792,407





– 22 –



UTILITIES (1.4%) 1,775,000 Brookfield Renewable Power

6.132% 11/30/2016 1,775,000 1,843,328 1,815,000 Brookfield Renewable Power Inc.,

5.84% 11/05/2036 1,727,500 1,616,602 2,600,000 Hamilton Utilities Corp., 6.25% 07/30/2012 2,826,902 2,805,442 3,465,000 Reliance LP 7.3% 04/03/2013 3,464,969 3,527,799

55,200 Sempra Energy 3,515,308 2,797,165 700,000 Terasen Gas Inc., 6% 10/02/2037 703,540 759,292

1,250,000 Terasen Gas Inc., Callable 6.5% 05/01/2034 1,395,710 1,439,199 359,900 TransAlta Corp.* 10,376,590 8,050,963

2,100,000 Union Gas Ltd., 6.05% 09/02/2038 2,095,968 2,273,637 27,881,487 25,113,427

ASSET BACKED (0.6%) 1,900,000 CCIC 2006-WEM, Class F,

5.248% 01/15/2022 1,716,593 1,533,623 4,100,000 CCIC 2006-WEM, MBS, A2

4.934% 01/15/2022 3,945,548 3,562,779 1,935,000 Ford Motor Credit Co., 1.517% 10/15/2012 1,675,711 1,677,125 3,475,000 Merrill Lynch Financial Assets Inc.,

4.678% 03/12/2039 3,443,411 3,517,256 10,781,263 10,290,783

Commission and other portfolio transaction costs (1,182,585)


Short Term Notes (6.2%) 110,000,000 110,000,000




Other Assets (net) (1.6%) 28,095,041

Net Assets (100.0%) 1,778,781,570

Principal amounts stated in:USD U.S. Dollar


– 23 –



1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.02 (11,957,517) Canadian $ 11,700,000 US $ (75,626)1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.38 (2,628,000) Euro 3,621,600 Canadian $ 16,238 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.57 (2,519,000) Euro 3,943,535 Canadian $ 487,244 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.51 (6,142,000) Euro 9,248,065 Canadian $ 821,061 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (15,626,000) US $ 16,503,869 Canadian $ 634,327 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (37,947,000) US $ 40,284,156 Canadian $ 1,745,490 1 Credit Suisse Group A-1 17-Jun-10 1.06 (41,060,000) US $ 43,583,342 Canadian $ 1,883,145 1 Morgan Stanley A-1 08-Jun-10 1.50 (3,194,000) Euro 4,806,555 Canadian $ 424,296 1 Morgan Stanley A-1 08-Jun-10 1.56 (4,511,000) Euro 7,054,214 Canadian $ 864,731 1 Morgan Stanley A-1 17-Jun-10 1.07 (10,097,000) US $ 10,767,037 Canadian $ 512,550 1 Morgan Stanley A-1 17-Jun-10 1.07 (1,870,000) US $ 2,008,006 Canadian $ 108,823 1 Morgan Stanley A-1 17-Jun-10 1.06 (36,137,000) US $ 38,363,401 Canadian $ 1,662,955 1 Royal Bank of Canada A-1+ 17-Jun-10 1.03 (6,679,095) Canadian $ 6,516,000 US $ (61,773)1 Royal Bank of Canada A-1+ 17-Jun-10 1.07 (10,500,000) US $ 11,265,345 Canadian $ 601,493 1 Royal Bank of Canada A-1+ 17-Jun-10 1.06 (27,143,000) US $ 28,800,894 Canadian $ 1,234,699 1 State Street Corporation A-1 17-Jun-10 1.02 (11,965,122) Canadian $ 11,700,000 US $ (83,222)1 State Street Corporation A-1 17-Jun-10 1.07 (10,097,000) US $ 10,780,819 Canadian $ 526,316 1 State Street Corporation A-1 17-Jun-10 1.07 (10,500,000) US $ 11,241,825 Canadian $ 578,000 1 State Street Corporation A-1 17-Jun-10 1.06 (36,598,000) US $ 38,849,875 Canadian $ 1,681,245 1 UBS AG A-1 08-Jun-10 1.08 (1,073,000) Australian $ 989,102 Canadian $ (2,839)1 UBS AG A-1 08-Jun-10 1.09 (763,000) Australian $ 700,754 Canadian $ (4,603)1 UBS AG A-1 08-Jun-10 1.74 (17,839,000) British Pound 31,035,222 Canadian $ 3,545,894 1 UBS AG A-1 08-Jun-10 1.04 (6,844,000) Swiss Franc 7,135,559 Canadian $ 538,259 1 UBS AG A-1 17-Jun-10 1.07 (1,858,000) US $ 1,983,824 Canadian $ 96,841 1 UBS AG A-1 17-Jun-10 1.06 (36,803,000) US $ 39,070,065 Canadian $ 1,693,236






Signature Canadian Balanced FundFinancial Statements






Net assets per classClass AClass FClass IClass UClass YClass Z


Class AClass FClass IClass UClass YClass Z









Increase (decrease) in net assets from operations per classClass AClass FClass IClass UClass YClass Z



1,621,258 1,007,1771,137 1,962

110,000 127,000- -- -- -

19,657 3,902- -- -

3,184 98217,082 9,982

- -9,446 7,740

1,781,764 1,158,745

- -- -- -

228 3,097- -

809 1,0701,945 987

- -- -- -

2,982 5,1541,778,782 1,153,591

1,545,003 1,097,712- -

1,197,000 931,3385,617 2,818

201,876 109,416247,688 -

167 -126,434 110,019

14.76 11.939.68 7.818.78 7.08

10.66 -10.67 -9.66 7.80

81,101,261 78,091,100580,105 360,884

22,997,580 15,461,72223,230,171 -

15,687 -13,086,328 14,105,679

23,890 19,12126,306 29,119

201 374(570) 767

- -- -

(1,503) (1,439)48,324 47,942

26,945 23,5662,741 2,394

1 31,484 1,297

31,171 27,26017,153 20,682

125,005 (139,737)(935) 533

(2,833) (2,276)- -

185,413 (101,751)306,650 (243,231)323,803 (222,549)

239,717 (181,300)875 (503)

36,664 (19,280)18,595 -

14 -27,938 (21,466)

3.05 (2.28)1.91 (1.45)1.85 (1.18)0.77 -0.86 -2.05 (1.46)


2010 2009


2010 2009



– 25 –













Class UNet assets, beginning of yearCapital transactions




Class YNet assets, beginning of yearCapital transactions








- -

16,076 -2,604 -

(35,900) -248,934 -231,714 -

- -(1,125) -(1,496) -(2,621) -18,595 -

247,688 -

- -

45 -3 -

(169) -277 -156 -

- -(1) -(2) -(3) -14 -

167 -

110,019 144,914

4,590 3,8742,203 3,493

(16,104) (17,292)- -

(9,311) (9,925)

- -(1,393) (1,971)

(819) (1,533)(2,212) (3,504)27,938 (21,466)

126,434 110,019

931,338 1,186,278

248,323 156,33017,485 26,069

(222,271) (229,830)- -

43,537 (47,431)

- -(10,800) (14,529)(6,792) (11,680)

(17,592) (26,209)239,717 (181,300)

1,197,000 931,338

2,818 3,133

2,938 1,73698 116

(1,012) (1,547)- -

2,024 305

- -(63) (65)(37) (52)

(100) (117)875 (503)

5,617 2,818

109,416 153,957

31,901 1,3456,113 7,519

(27,284) (26,610)51,180 -61,910 (17,746)

- -(3,511) (4,351)(2,603) (3,164)(6,114) (7,515)36,664 (19,280)

201,876 109,416


2010 2009



2010 2009


– 26 –






1,153,591 1,488,282

303,873 163,28528,506 37,197

(302,740) (275,279)300,391 -330,030 (74,797)

- -(16,893) (20,916)(11,749) (16,429)(28,642) (37,345)323,803 (222,549)

1,778,782 1,153,591


2010 2009



Signature Canadian Balanced FundFinancial Statements – Supplementary Schedules

– 27 –




Class UBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedAcquisition of assets from terminated Funds (Note 1)Balance, end of year

Class YBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedAcquisition of assets from terminated Funds (Note 1)Balance, end of year

Class ZBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedAcquisition of assets from terminated Funds (Note 1)Balance, end of year


2010 2009

78,091,100 81,675,81117,748,837 11,913,7171,265,376 2,014,029

(16,004,052) (17,512,457)- -

81,101,261 78,091,100

360,884 327,946318,725 199,28810,784 13,679

(110,288) (180,029)- -

580,105 360,884

15,461,722 17,657,9253,876,646 167,599

742,916 975,434(3,302,397) (3,339,236)6,218,693 -

22,997,580 15,461,722

- -1,551,104 -

253,639 -(3,467,989) -24,893,417 -23,230,171 -

- -4,484 -

278 -(16,761) -27,686 -15,687 -

14,105,679 15,250,942500,999 446,640244,049 412,776

(1,764,399) (2,004,679)- -

13,086,328 14,105,679





Class UNet assets per unitNet asset value per unit

Class YNet assets per unitNet asset value per unit


14.76 11.9314.77 11.94

9.68 7.819.69 7.82

8.78 7.088.79 7.08

10.66 -10.67 -

10.67 -10.69 -

9.66 7.809.67 7.81


2010 2009


Annual management fee rateClass AClass FClass IClass UClass YClass Z

Annual fixed administration fee rateClass AClass FClass IClass UClass YClass Z

2.001.00

Paid directly by investor1.950.901.75

0.200.20

-0.200.200.20


2010

– 28 –

Signature Canadian Balanced FundFinancial Statements – Supplementary Schedules


2010 2009


165,608 104,308169,154 111,167


2010 2009


2,803 2,243218 168




5,165

--------


2010


Signature Canadian Balanced FundFund Specific Financial Instruments Risks (Note 11)




Financials ................................................................................................................................. 27.9Government Bonds................................................................................................................... 15.5Short Term Investments........................................................................................................... 11.0Materials.................................................................................................................................. 9.3Energy ...................................................................................................................................... 8.1Industrials ................................................................................................................................ 5.8Consumer Staples.................................................................................................................... 5.0Telecommunication Services ................................................................................................... 4.3Information Technology ........................................................................................................... 4.1Utilities..................................................................................................................................... 2.6Health Care .............................................................................................................................. 2.3Other Assets ............................................................................................................................ 1.7Consumer Discretionary........................................................................................................... 1.6Asset Backed ........................................................................................................................... 0.6Foreign Currency Forward Contracts ....................................................................................... 0.1Warrants .................................................................................................................................. 0.1

Other Price RiskAs at March 31, 2010 and 2009, the Fund was invested in Canadian equities and therefore wassensitive to changes in general economic conditions in Canada, however some of the Fund's assetswere invested in fixed income securities and their market risk exposure is described below.

As at March 31, 2010, had the Canadian markets increased or decreased by 10% (March 31, 2009- 10%), with all other variables held constant, net assets of the Fund would have increased ordecreased, respectively, by approximately $108,808,000 (March 31, 2009 - $53,932,000). Inpractice, actual results may differ from this analysis and the difference may be material.



Credit Rating^ (%)AAA/Aaa/A++ 15.9AA/Aa/A+ 5.6A 8.4BBB/Baa/B++ 6.2BB/Ba/B+ 0.6Not Rated 0.6Total 37.3

– 29 –




Credit Rating^ (%)AAA/Aaa/A++ 15.2 AA/Aa/A+ 9.7 A 11.0 BBB/Baa/B++ 7.3 BB/Ba/B+ 0.2 CCC/Caa/C++ 0.1 Not Rated 8.4 Total 51.9





Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 466,906 (250,138) 216,768 12.2 British Pound 63,648 (27,498) 36,150 2.0 Swiss Franc 31,497 (6,593) 24,904 1.4 Euro 43,455 (26,057) 17,398 1.0 Brazilian Real 10,624 - 10,624 0.6 Japanese Yen 7,460 - 7,460 0.4 Hong Kong Dollar 3,796 - 3,796 0.2 Australian Dollar 4,286 (1,711) 2,575 0.1 Mexican Peso 2,360 - 2,360 0.1 Total 634,032 (311,997) 322,035 18.0


Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 256,718 (143,047) 113,671 9.9 British Pound 30,219 (17,357) 12,862 1.1 Euro 13,399 (7,167) 6,232 0.5 Hong Kong Dollar 3,423 - 3,423 0.3 Australian Dollar 7,866 (4,800) 3,066 0.3 Israeli Shekel 2,766 - 2,766 0.2 Swiss Franc 7,612 (6,306) 1,306 0.1 Mexican Peso 1,101 - 1,101 0.1 Brazilian Real 242 - 242 0.1 Japanese Yen 3 - 3 0.1 Total 323,349 (178,677) 144,672 12.7

As at March 31, 2010, had the Canadian dollar strengthened or weakened by 10% (March 31, 2009 -10%) in relation to all other foreign currencies held in the Fund, with all other variables heldconstant, net assets of the Fund would have decreased or increased, respectively, by approximately$32,204,000 (March 31, 2009 - $14,467,000). In practice, actual results may differ from thisanalysis and the difference may be material.


Signature Canadian Balanced FundFund Specific Financial Instruments Risks (Note 11)

– 30 –




(in $000's) (in $000's) (in $000's) (in $000's)

Equities - long 1,087,159 918 - 1,088,077 Bonds - 522,890 - 522,890 Mortgage backed securities - 10,291 - 10,291 Short-term notes - 110,000 - 110,000 Foreign currency forward contracts - 19,429 - 19,429 Total 1,087,159 663,528 - 1,750,687






As at March 31, 2010, had the prevailing interest rates increased or decreased by 0.25% (March 31, 2009 - 0.25%), with all other variables held constant, net assets of the Fund would havedecreased or increased, respectively, by approximately $7,861,000 (March 31, 2009 - $5,303,000).In practice, actual results may differ from this analysis and the difference may be material.



121,010 68,389 68,810 386,109 644,318



144,085 95,416 77,083 280,233 596,817


U.S.A. (49.9%) (cont’d)7,000 Freeport-McMoRan Copper &

Gold Inc., Class B (USD) 617,289 593,416 USD 120,000 Geokinetics Holdings Inc., 9.75% 12/15/2014 125,469 114,243 USD 200,000 Goldcorp Inc., Private Placement,

2% 08/01/2014^ 216,845 225,948 USD 280,000 Goodyear Tire & Rubber Co.,

10.5% 05/15/2016 325,661 307,086 2,300 Google Inc., Class A 1,106,682 1,322,744

USD 25,000 H&E Equipment Services Inc., 8.375% 07/15/2016 31,021 24,562

16,200 Halliburton Co 520,846 495,176 USD 10,000 Hanesbrands Inc., 8% 12/15/2016 10,409 10,510 USD 269,000 HCA Inc., Callable, 9.125% 11/15/2014 293,436 289,217 USD 100,000 HealthSouth Corp., 10.75% 06/15/2016 114,827 109,801 USD 5,232 HealthSouth Corp., Private Placement,

8.15% 03/10/2013^ 4,648 5,219 USD 4,306 HealthSouth Corp., Term Loan, Private

Placement, 8.15% 03/10/2013^ 4,318 4,399 USD 293,000 Hughes Network Systems LLC

9.5% 04/15/2014 321,959 305,723 USD 165,000 Huntsman International LLC 5.5% 06/30/2016 147,177 152,058 USD 139,000 Ingles Markets Inc., 8.875% 05/15/2017 150,929 147,506 USD 143,000 Innophos Inc., 8.875% 08/15/2014 163,049 149,572

49,700 Intel Corp. 1,013,160 1,123,466 USD 35,000 Intergen NV 9% 06/30/2017 38,100 36,609 USD 45,000 International Lease Finance Corp.,

8.625% 09/15/2015 44,749 46,715 USD 140,000 International Lease Finance Corp.,

8.75% 03/15/2017 137,896 145,444 USD 175,000 Inverness Medical Innovations Inc.,

9% 05/15/2016 197,233 181,266 USD 222,000 Jabil Circuit Inc., 8.25% 03/15/2018 237,571 243,475 USD 107,000 James River Coal Co., 9.375% 06/01/2012 109,965 110,560 USD 4,000 Jarden Corp., 7.5% 01/15/2020 4,058 4,103 USD 200,000 JBS USA LLC, 144A, Private Placement,

11.625% 05/01/2014^ 215,690 231,533 27,000 JDS Uniphase Corp. 240,374 343,278 21,200 Johnson & Johnson* 1,433,337 1,403,660 6,000 Johnson Controls Inc. 159,557 201,007 6,800 Joy Global Inc. 391,992 390,844

30,300 JPMorgan Chase & Co. 1,283,877 1,376,629 USD 800,000 JPMorgan Chase & Co., FRN, Callable,

7.9% 04/30/2049 745,001 866,097 USD 332,000 K Hovnanian Enterprises Inc.,

10.625% 10/15/2016 348,619 359,059 USD 227,000 Kansas City Southern de Mexico

9.375% 05/01/2012 239,148 236,281 USD 34,000 Kansas City Southern Railway 8% 06/01/2015 36,181 35,865

4,700 Kellogg Co. 239,708 254,917 48,420 Kimco Realty Corp. 674,889 769,024 27,800 KKR Private Equity Investors LP 386,725 320,137

USD 50,000 LBI Escrow Corp., 8% 11/01/2017 51,247 52,679 USD 135,000 Lender Processing Services Inc.,

8.125% 07/01/2016 143,511 147,031 USD 421,000 Lincoln National Corp., Callable,

7% 05/17/2066 303,325 389,047 USD 130,000 Lincoln National Corp., Preferred

6.05% 04/20/2067 46,354 109,902

Signature Global Income & Growth FundStatement of Investment Portfolio as at March 31, 2010

– 31 – CIG - 2111


U.S.A. (49.9%) 18,200 Activision Inc. 231,669 222,524

116,600 Advanced Micro Devices Inc. 758,388 1,095,264 USD 170,000 Alliance One International Inc.,

10% 07/15/2016 186,742 180,403 USD 35,000 Alliance One International Inc., 144A,

10% 07/15/2016 37,136 37,142 12,500 Amylin Pharmaceuticals Inc. 208,881 283,958

USD 123,000 Amylin Pharmaceuticals Inc., 3% 06/15/2014 101,838 111,323 4,887 Apache Corp. 506,278 503,668

USD 175,000 Apria Healthcare Group Inc., 11.25% 11/01/2014 193,318 193,262

15,200 Archer-Daniels-Midland Co. 491,100 445,779 USD 95,000 Ashland Inc., 9.125% 06/01/2017 107,491 108,049

21,400 AT&T Inc. 620,084 561,545 USD 200,000 Baker & Taylor Inc., 11.5% 07/01/2013 64,461 107,643

121,500 Bank of America Corp. 1,893,772 2,197,448 5,000 BE Aerospace Inc. 125,896 154,406

USD 20,000 Belo Corp., 8% 11/15/2016 20,588 21,173 USD 100,000 Biomet Inc., 10% 10/15/2017 121,225 111,958 USD 59,317 Blockbuster Inc., 11.75% 10/01/2014 60,353 44,424

3,700 BorgWarner Inc. 120,675 143,455 USD 44,000 Boston Scientific Corp., 6.25% 11/15/2015 40,835 46,022 USD 148,000 Boston Scientific Corp., Senior Notes,

6.4% 06/15/2016 140,603 154,802 USD 80,000 Calfrac Holdings LP 7.75% 02/15/2015 81,589 80,732 USD 120,000 CB Richard Ellis Service 11.625% 06/15/2017 132,718 136,483 USD 150,000 Chesapeake Energy Corp., 9.5% 02/15/2015 177,586 165,653

6,100 Chevron Corp. 488,875 469,731 USD 32,000 Comstock Resources Inc., 8.375% 10/15/2017 33,424 33,390 USD 50,000 Consol Energy Inc., 8% 04/01/2017 51,237 52,171 USD 10,000 Continental Resources Inc., 7.375% 10/01/2020 10,106 10,064 USD 40,000 Continental Resources Inc., 8.25% 10/01/2019 43,247 43,057 USD 49,000 Cott Beverages Inc., 8.375% 11/15/2017 51,591 51,377 USD 72,000 Couche-Tard Finance Corp., Callable,

7.5% 12/15/2013 77,265 74,212 20,000 CVS Corp. 733,007 742,531

USD 175,000 Denbury Resources Inc., Callable, 8.25% 02/15/2020 190,643 188,375

9,800 Digital Realty Trust Inc. 511,075 539,292 USD 25,000 DJO Finance LLC / DJO Finance Corp.,

10.875% 11/15/2014 27,588 27,577 USD 65,000 Dollar General Corp., 2.875% 06/30/2027 44,599 60,892 USD 34,000 Domtar Corp., 10.75% 06/01/2017 36,233 41,950 USD 1,361,111 Dow Jones CDX HY, 144A, Private Placement,

6.75% 06/29/2012^ 1,595,292 1,423,670 USD 73,000 DuPont Fabros Technology LP 8.5% 12/15/2017 78,261 76,355

42,500 Eli Lilly and Co. 1,680,948 1,563,204 37,800 EMC Corp. 586,228 692,479 15,410 Enbridge Energy Management LLC 903,537 797,150 2,200 Enbridge Energy Partners LP 89,044 112,799 3,100 FBR Capital Markets Corp. 19,877 14,324

17,400 Finisar Corp. 262,393 277,237 USD 161,000 FMG Finance Pty. Ltd., 10.625% 09/01/2016 185,982 188,428 USD 200,000 Foot Locker Inc., 8.5% 01/15/2022 215,824 187,867

9,600 FormFactor Inc. 232,212 173,138 USD 386,000 Freeport-McMoRan Copper & Gold Inc.,

8.25% 04/01/2015 426,104 426,770




– 32 –

U.S.A. (49.9%) (cont’d)USD 42,000 Teck Resources Ltd., 10.25% 05/15/2016 46,738 50,755 USD 6,000 The Scotts Miracle-Gro Co., 7.25% 01/15/2018 6,154 6,215

2,700 TransDigm Group Inc. 136,940 145,208 USD 94,771 Transmeridian Exploration Inc.,

Callable, 12% 12/15/2010 91,120 - 4,900 Ultra Petroleum Corp. 256,619 231,829

11,000 Union Pacific Corp. 619,868 818,795 6,600 United States Steel Corp.* 363,805 425,729

USD 145,000 United States Steel Corp., 7.375% 04/01/2020 145,837 147,615

USD 1,000,000 United States, Treasury Note/Bond, 4.5% 05/15/2017 1,052,527 1,096,421

USD 182,000 United Surgical Partners International Inc., 8.875% 05/01/2017 166,484 191,751

7,800 Visa Inc., Class A 705,558 721,037 9,600 Wal-Mart Stores Inc. 565,438 542,031

23,700 Wells Fargo & Co. 646,351 748,011 USD 700,000 Wells Fargo & Co., 7.98% 02/28/2049 453,984 742,836 USD 830,000 Wells Fargo Capital 7.7% 12/29/2049 722,713 870,255

47,100 Western Union Co. 848,255 811,195 USD 140,000 Wind Acquisition Finance SA

11.75% 07/15/2017 165,124 157,097 5,500 WW Grainger Inc. 511,170 603,875

USD 250,000 Wynn Las Vegas LLC 6.625% 12/01/2014 248,424 253,239 48,921,828 51,149,063

U.K. (8.0%) 300,833 Aberdeen Asset Management PLC 720,882 602,825

GBP 280,000 Barclays Bank PLC 14% 06/15/2019 530,884 560,604 116,300 Barclays PLC 637,032 645,812 14,700 BHP Billiton PLC 467,716 512,092 53,600 BP PLC 448,184 514,973 10,134 British American Tobacco PLC 350,865 354,749 53,700 Diageo PLC 890,268 914,659 38,500 HSBC Holdings PLC 346,139 396,424

USD 48,000 MU Finance PLC 8.375% 02/01/2017 49,763 48,074 67,100 Prudential PLC 450,507 564,726 4,400 Rio Tinto PLC 234,072 264,848

900,000 Royal Bank of Scotland, Callable, 5.37% 12/05/2049 651,195 648,000

66,100 Smith & Nephew PLC 606,187 668,896 40,637 Tesco PLC 328,787 272,636

USD 160,000 Virgin Media Finance PLC 9.5% 08/15/2016 172,615 177,509 210,700 Vodafone Group PLC 521,883 493,663 36,400 Weir Group PLC 402,878 524,609

7,809,857 8,165,099 JAPAN (4.8%)

16,400 Bridgestone Corp. 286,938 283,952 5,800 East Japan Railway Co.* 403,987 408,871 3,800 Fanuc Ltd. 361,255 409,044 6,800 Honda Motor Co., Ltd. 236,010 243,376

12,700 Kurita Water Industries Ltd. 401,733 364,184 27,000 Mitsubishi Estate Co., Ltd. 526,787 448,126 4,500 Nidec Corp. 371,969 487,328 2,100 Nintendo Co., Ltd.* 725,067 713,965

200 NTT DoCoMo Inc.* 326,938 308,701 22,300 Santen Pharmaceutical Co., Ltd. 742,612 679,682 6,500 Suzuki Motor Corp. 158,250 145,443 6,600 TDK Corp.* 383,685 445,193

4,925,231 4,937,865



U.S.A. (49.9%) (cont’d)USD 100,000 Lions Gate Entertainment Inc.,

Senior Secured Notes, 10.25% 11/01/2016 98,864 103,961 USD 2,000 Manitowoc Company Inc., 9.5% 02/15/2018 2,100 2,117

12,500 Maxim Integrated Products Inc. 245,497 246,131 16,900 MetLife Inc. 739,429 743,453

USD 217,000 MetroPCS Wireless Inc., 9.25% 11/01/2014 211,722 225,321 USD 130,000 MGM Mirage Inc., 144A, 10.375% 05/15/2014 146,813 145,546 USD 532,000 MGM Mirage Inc., 5.875% 02/27/2014 481,781 455,156 USD 128,000 MGM Mirage Inc., 7.625% 01/15/2017 107,194 108,211

63,300 Micron Technology Inc. 485,162 665,950 61,200 Microsoft Corp. 1,604,082 1,818,462

USD 40,000 Mohegan Tribal Gaming Authority 11.5% 11/01/2017 40,235 43,260

USD 728,000 Mohegan Tribal Gaming Authority 6.125% 02/15/2013 661,374 632,086

USD 219,000 Neiman Marcus Group Inc., 10.375% 10/15/2015 234,791 229,622

USD 111,000 Newell Rubbermaid Inc., 10.6% 04/15/2019 138,858 148,712 USD 70,000 NII Capital Corp., 10% 08/15/2016 74,386 77,838

12,500 NII Holdings Inc. 471,495 528,693 USD 540,000 NII Holdings Inc., 3.125% 06/15/2012 502,143 517,522 USD 579,000 Nortel Networks Corp., 10.75% 07/15/2016 568,629 472,583

26,800 NVIDIA Corp. 332,589 473,002 7,200 Occidental Petroleum Corp. 601,004 618,121

USD 45,000 Overseas Shipholding Group Inc., 8.125% 03/30/2018 45,460 45,812

6,600 Parker-Hannifin Corp. 402,585 433,905 7,100 PepsiCo Inc. 426,039 477,015

USD 143,000 PetroQuest Energy Inc., 10.375% 05/15/2012 158,799 146,668 4,700 Praxair Inc. 387,994 396,145

11,000 Procter & Gamble Co. 685,374 706,867 USD 47,896 QHP Royalty Sub LLC 10.25% 03/15/2015 51,060 49,166 USD 4,000 QVC Inc., 7.125% 04/15/2017 4,042 4,087 USD 4,000 QVC Inc., 7.375% 10/15/2020 4,042 4,082 USD 230,000 Rathgibson Inc. 11.25% 02/15/2014 255,515 21,021 USD 538,000 Sabine Pass LNG LP 7.5% 11/30/2016 532,439 482,142 USD 30,000 Salem Communications Corp

9.625% 12/15/2016 31,474 31,836 USD 205,000 Scientific Games Corp., 7.875% 06/15/2016 206,633 210,779 USD 20,000 Scientific Games International Inc.,

9.25% 06/15/2019 21,666 21,554 6,600 Sempra Energy 400,071 334,444

USD 40,000 Severstal Columbus LLC 10.25% 02/15/2018 43,125 42,702 USD 305,000 Skilled Healthcare Group Inc., 11% 01/15/2014 338,237 325,987

100,000 SLM Corp., 4.625% 06/15/2011 85,938 97,802 USD 100,000 SLM Corp., 8% 03/25/2020 99,172 98,885 USD 481,000 SLM Corp., 8.45% 06/15/2018 498,448 494,003

60 Soverign REIT 74,903 69,460 10,300 Spectra Energy Corp. 229,017 235,655 9,500 Staples Inc. 220,754 225,648

USD 75,000 Starwood Hotels & Resort Worldwide Inc., 7.15% 12/01/2019 77,987 77,114

USD 95,000 Steel Dynamics Inc., Senior Notes, 6.75% 04/01/2015 72,035 97,196

6,300 Talecris Biotherapeutics Holdiings 131,240 127,249 USD 60,000 Talecris Biotherapeutics Holdings Corp.,

Senior Unsecured Notes, 7.75% 11/15/2016 61,872 61,234




– 33 –

GERMANY (1.9%) 6,400 DaimlerChrysler AG, Registered Shares* 309,610 304,789

EUR 750,000 Germany Government Bond 4.25% 07/02/2014 1,061,975 1,126,620

USD 93,000 UPC Germany GmbH 8.125% 12/01/2017 96,970 97,392 850 Volkswagen AG, Preferred 76,131 75,794

4,000 Volkswagen AG, Private Placement^ 379,363 369,079 4,000 Volkswagen AG, Rights (13Apr10) - 2,606

1,924,049 1,976,280 SINGAPORE (1.8%)

262,100 Parkway Holdings Ltd. 540,173 639,292 276,600 Singapore Telecommunications Ltd. 615,298 636,508 40,300 United Overseas Bank Ltd. 548,693 562,278

1,704,164 1,838,078 SPAIN (1.7%)

51,000 Banco Santander Central Hispano SA 815,334 688,022 39,600 Iberdrola SA 345,052 340,779 29,100 Telefonica SA 706,048 699,805

1,866,434 1,728,606 BRAZIL (1.6%)

65,300 Banco Santander Brasil SA 889,831 814,055 37,000 BR Malls Participacoes SA 460,063 443,296 8,800 Petroleo Brasileiro SA, ADR 317,670 353,791

1,667,564 1,611,142 BERMUDA (1.3%)

USD 40,000 Digicel Group Ltd., 10.5% 04/15/2018 40,558 42,143 USD 97,000 Digicel Group Ltd., 12% 04/01/2014 113,900 111,555 USD 33,000 Digicel Group Ltd., 8.25% 09/01/2017 34,364 33,176 USD 380,000 Intelsat Bermuda Ltd., 11.25% 06/15/2016 426,625 417,724

19,600 Lazard Ltd. 736,176 710,364 1,351,623 1,314,962

NETHERLANDS (1.1%) 9,600 Randstad Holding NV 490,054 463,373

20,800 Unilever NV* 610,371 639,023 1,100,425 1,102,396

IRELAND (0.8%) 13,100 CRH PLC (Dublin Listed) 361,551 330,308 14,800 Ingersoll-Rand PLC 429,078 523,622

790,629 853,930 HONG KONG (0.7%)

74,400 China Merchants Holdings International Co., Ltd. 275,451 276,357

20,300 China Mobile (Hong Kong) Ltd. 221,519 198,200 91,200 Xinao Gas Holdings Ltd. 166,298 236,655

663,268 711,212 CHINA (0.5%)

631,700 China Construction Bank Corp., Class H 522,545 523,816

BELGIUM (0.5%) 10,800 Barco NV 553,016 494,552

MEXICO (0.3%) USD 42,000 Grupo Posadas SAB de CV 9.25% 01/15/2015 44,194 44,464 USD 100,000 Kansas City Southern de Mexico SA

de CV 8% 02/01/2018 101,974 104,088 38,200 Wal-Mart de Mexico SA de CV* 131,092 197,759

277,260 346,311



SWITZERLAND (4.6%) 20,000 ABB Ltd. 354,909 443,306 13,000 Credit Suisse Group 617,103 679,986 15,550 Nestle SA, Registered Shares 685,520 808,125 7,300 Roche Holding AG 1,213,221 1,201,771 7,700 Schindler Holding AG 503,680 688,328 2,000 Transocean Ltd. 149,499 175,417

37,000 Xstrata PLC 484,455 712,054 4,008,387 4,708,987

CANADA (4.0%) USD 100,000 Axcan Intermediate Holdings Inc.,

9.25% 03/01/2015 119,981 109,674 487,500 Bragg Communication Inc., Loan,

Private Placement, 7.53% 08/31/2014^ 487,500 483,234 USD 64,064 CanWest MediaWorks Inc., 8% 09/15/2012 101,785 62,454

80,000 Cascades Inc., 7.75% 12/15/2016 78,936 80,496 USD 80,000 Cascades Inc., 7.75% 12/15/2017 83,805 81,849 USD 120,000 Connacher Oil and Gas Ltd., Private Placement,

11.75% 07/15/2014^ 124,008 133,874 USD 300,000 Gibson Energy ULC 11.75% 05/27/2014 332,155 334,352 USD 81,288 Great Canadian Gaming Corp., Private

Placement, 4.30375% 02/12/2014^ 84,524 80,897 97,000 Iron Mountain Inc., 7.5% 03/15/2017 89,589 95,076

USD 68,000 Maple Leaf Foods Inc., Private Placement, 5.21% 12/08/2011^ 65,382 68,018

USD 300,000 National Money Mart Co., 10.375% 12/15/2016 313,298 323,309

USD 40,000 NOVA Chemicals Ltd., 6.5% 01/15/2012 42,324 41,635 USD 317,000 OPTI Canada Inc., Callable, (USD)

8.25% 12/15/2014 281,766 302,598 USD 175,000 Pacific Rubiales Energy Corp.,

8.75% 11/10/2016 184,826 192,817 10,000 Shaw Communications Inc., 7.5% 11/20/2013 11,414 11,331

200,000 Sherritt International Corp., 7.875% 11/26/2012 205,380 208,150

387,000 Sherritt International Corp., 8.25% 10/24/2014 387,000 409,526 49,000 Superior Plus Corp., 8.25% 10/27/2016 49,000 50,805

USD 471,000 Teck Resources Ltd., 10.75% 05/15/2019 550,539 585,916 50,000 Viterra Inc., 8% 04/08/2013 52,062 50,826

326,000 Viterra Inc., 8.5% 08/01/2017 326,240 345,968 3,971,514 4,052,805

AUSTRALIA (2.2%) 12,800 Macquarie Group Ltd. 570,678 562,968 92,000 Paladin Resources Ltd. 381,295 337,640

AUD 236,000 Western Areas Ltd., 8% 07/02/2012 198,598 226,232 98,350 Westfield Group 1,109,995 1,105,231

2,260,566 2,232,071 FRANCE (2.1%)

USD 140,000 Cie Gen Geophysique 9.5% 05/15/2016 153,013 152,121 9,266 France Telecom SA* 247,414 225,183 7,279 Groupe Danone* 420,940 445,258 3,533 Schneider Electric SA 327,102 420,839 9,914 Total SA 641,269 584,477 1,499 Unibail* 282,255 308,252

2,071,993 2,136,130




– 34 –



PORTUGAL (0.3%) 85,300 Energias de Portugal SA 339,824 344,383

TAIWAN (0.2%) 125,504 Taiwan Semiconductor Manufacturing Co., Ltd. 262,326 246,928

PHILIPPINES (0.2%) 10,375 Globe Telecom Inc. 230,475 233,532

MARSHALL ISLANDS (0.2%) USD 25,000 General Maritime Corp., 12% 11/15/2017 26,210 27,165 USD 120,000 Navios Maritime Holdings/Finance US Inc.,

8.875% 11/01/2017 124,576 126,125 150,786 153,290

CAYMAN ISLANDS (0.1%) 386,400 New World China Land Ltd. 230,856 139,990

Commission and other portfolio transaction costs (73,993)


Short Term Notes (5.9%) 6,000,000 6,000,000


Foreign Currency Forward Contracts (2.8%)(see Schedule A) 2,857,613



Net Assets (100.0%) 102,509,076

Principal amounts stated in:AUD Australian Dollar EUR Euro GBP British Pound USD U.S. Dollar

Percentages shown in brackets relate investments at fair value to net assets of the Fund.The accompanying notes are an integral part of these financial statements.



– 35 –




1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.02 (1,481,915) Canadian $ 1,450,000 US $ (9,372)1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.38 (857,000) Euro 1,181,016 Canadian $ 5,295 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.51 (588,000) Euro 885,357 Canadian $ 78,604 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.57 (630,000) Euro 986,275 Canadian $ 121,859 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (1,392,000) US $ 1,470,203 Canadian $ 56,507 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (5,887,000) US $ 6,249,580 Canadian $ 270,791 1 Credit Suisse Group A-1 17-Jun-10 1.06 (6,370,000) US $ 6,761,468 Canadian $ 292,149 1 Morgan Stanley A-1 08-Jun-10 1.56 (1,127,000) Euro 1,762,381 Canadian $ 216,039 1 Morgan Stanley A-1 08-Jun-10 1.50 (624,000) Euro 939,039 Canadian $ 82,893 1 Morgan Stanley A-1 09-Sep-10 0.01 (309,151,000) Japanese Yen 3,411,812 Canadian $ 46,941 1 Morgan Stanley A-1 17-Jun-10 1.07 (232,000) US $ 249,122 Canadian $ 13,501 1 Morgan Stanley A-1 17-Jun-10 1.06 (5,606,000) US $ 5,951,386 Canadian $ 257,977 1 Morgan Stanley A-1 17-Jun-10 1.07 (934,000) US $ 995,980 Canadian $ 47,412 1 Royal Bank of Canada A-1+ 17-Jun-10 1.03 (837,450) Canadian $ 817,000 US $ (7,745)1 Royal Bank of Canada A-1+ 17-Jun-10 1.07 (1,100,000) US $ 1,180,179 Canadian $ 63,014 1 Royal Bank of Canada A-1+ 17-Jun-10 1.06 (4,211,000) US $ 4,468,208 Canadian $ 191,553 1 State Street Corporation A-1 17-Jun-10 1.02 (1,482,857) Canadian $ 1,450,000 US $ (10,314)1 State Street Corporation A-1 17-Jun-10 1.07 (1,100,000) US $ 1,177,715 Canadian $ 60,552 1 State Street Corporation A-1 17-Jun-10 1.06 (5,677,000) US $ 6,026,306 Canadian $ 260,791 1 State Street Corporation A-1 17-Jun-10 1.07 (934,000) US $ 997,255 Canadian $ 48,686 1 UBS AG A-1 08-Jun-10 1.08 (476,000) Australian $ 438,782 Canadian $ (1,259)1 UBS AG A-1 08-Jun-10 1.09 (836,000) Australian $ 767,799 Canadian $ (5,043)1 UBS AG A-1 08-Jun-10 1.74 (2,203,000) British Pound 3,832,647 Canadian $ 437,895 1 UBS AG A-1 08-Jun-10 1.04 (840,000) Swiss Franc 875,785 Canadian $ 66,063 1 UBS AG A-1 17-Jun-10 1.07 (195,000) US $ 208,205 Canadian $ 10,164 1 UBS AG A-1 17-Jun-10 1.06 (5,709,000) US $ 6,060,674 Canadian $ 262,660




Signature Global Income & Growth FundFinancial Statements






Net assets per classClass AClass FClass I


Class AClass FClass I









Increase (decrease) in net assets from operations per classClass AClass FClass I



91,001 54,566473 1,571

6,000 11,000- -- -- -

2,891 296- -- -

262 921,667 938

- -757 631

103,051 69,094

- -- 77- 9

34 534- -

393 23115 29

- -- -- -

542 672102,509 68,422

87,531 62,358- -

61,623 42,6241,879 1,527

39,007 24,271

7.42 5.887.37 5.847.35 5.82

8,310,079 7,246,937255,087 261,665

5,305,089 4,168,298

1,449 1,2462,065 2,256

16 24- 39- -- -

(213) (158)3,317 3,407

1,055 1,009118 114

- -59 56

1,232 1,1792,085 2,228

7,583 (19,625)(215) 122(180) (151)

- -

14,358 (2,193)21,546 (21,847)23,631 (19,619)

14,078 (12,616)486 (578)

9,067 (6,425)

1.89 (1.82)1.96 (1.63)1.93 (1.68)


2010 2009


2010 2009


Signature Global Income & Growth FundFinancial Statements

– 37 –

















24,271 26,261

11,903 12,0032,496 2,892

(39,404) (7,544)33,170 -8,165 7,351

- -(706) (997)

(1,790) (1,919)(2,496) (2,916)9,067 (6,425)

39,007 24,271

68,422 82,449

32,731 33,4425,061 6,298

(55,953) (27,115)34,067 -15,906 12,625

- -(1,552) (2,463)(3,898) (4,570)(5,450) (7,033)23,631 (19,619)

102,509 68,422

42,624 54,246

20,441 17,8302,475 3,284

(15,915) (16,257)765 -

7,766 4,857

- -(815) (1,374)

(2,030) (2,489)(2,845) (3,863)14,078 (12,616)61,623 42,624

1,527 1,942

387 3,60990 122

(634) (3,314)132 -(25) 417

- -(31) (92)(78) (162)

(109) (254)486 (578)

1,879 1,527


2010 2009



2010 2009


Signature Global Income & Growth FundFinancial Statements – Supplementary Schedules

– 38 –





2010 2009


5,071 2,2445,173 2,392


2010 2009


175 14614 11


2010 2009

7,246,937 6,575,1762,880,643 2,549,227

354,905 472,725(2,282,519) (2,350,191)

110,113 -8,310,079 7,246,937

261,665 236,29655,073 542,46713,019 17,824(93,763) (534,922)19,093 -

255,087 261,665

4,168,298 3,195,2151,713,911 1,701,514

360,729 420,843(5,752,081) (1,149,274)4,814,232 -5,305,089 4,168,298


Annual management fee rateClass AClass FClass I

Annual fixed administration fee rateClass AClass FClass I

2.001.00

Paid directly by investor

0.220.22

-


2010




7.42 5.887.42 5.89

7.37 5.847.37 5.84

7.35 5.827.36 5.83


2010 2009



15,091

--------


2010


Signature Global Income & Growth FundFund Specific Financial Instruments Risks (Note 11)




U.S.A. ....................................................................................................................................... 47.6Short Term Investments........................................................................................................... 16.1Canada ..................................................................................................................................... 8.7U.K............................................................................................................................................ 5.0Other Assets ............................................................................................................................ 4.5Japan ....................................................................................................................................... 4.3Switzerland .............................................................................................................................. 2.7Germany ................................................................................................................................... 2.7Australia................................................................................................................................... 2.4France....................................................................................................................................... 1.6Mexico ..................................................................................................................................... 1.0China ........................................................................................................................................ 0.8Italy .......................................................................................................................................... 0.7Singapore ................................................................................................................................. 0.5Bermuda ................................................................................................................................... 0.5Netherlands ............................................................................................................................. 0.5Finland...................................................................................................................................... 0.3Brazil ........................................................................................................................................ 0.3Hong Kong................................................................................................................................ 0.1Foreign Currency Forward Contracts ....................................................................................... -0.3

Other Price RiskAs at March 31, 2010 and 2009, the Fund was invested in global equities and therefore wassensitive to changes in general economic conditions across the world, however some of the Fund'sassets were invested in fixed income securities and their market risk exposure is described below.

As at March 31, 2010, had global markets increased or decreased by 10% (March 31, 2009 - 10%),with all other variables held constant, net assets of the Fund would have increased or decreased,respectively, by approximately $6,459,000 (March 31, 2009 - $3,240,000). In practice, actual resultsmay differ from this analysis and the difference may be material.



Credit Rating^ (%)AAA/Aaa/A++ 7.7AA/Aa/A+ 2.1A 2.1BBB/Baa/B++ 3.1BB/Ba/B+ 5.9B 6.9CCC/Caa/C++ 4.0CC/Ca/C+ 0.1Not Rated 2.7Total 34.6

– 39 –




Credit Rating^ (%)AAA/Aaa/A++ 11.4AA/Aa/A+ 9.2A 4.4BBB/Baa/B++ 3.5BB/Ba/B+ 7.4B 8.7CCC/Caa/C++ 1.7Not Rated 2.6Total 48.9





Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 58,730 (36,182) 22,548 22.0 British Pound 8,355 (3,396) 4,959 4.8 Swiss Franc 3,989 (809) 3,180 3.1 Euro 8,238 (5,249) 2,989 2.9 Singapore Dollar 1,906 - 1,906 1.9 Japanese Yen 5,198 (3,358) 1,840 1.8 Australian Dollar 2,693 (1,223) 1,470 1.4 Hong Kong Dollar 1,375 - 1,375 1.3 Brazilian Real 1,261 - 1,261 1.2 Taiwan Dollar 405 - 405 0.4 Philippine Peso 247 - 247 0.2 Mexican Peso 198 - 198 0.2 Total 92,595 (50,217) 42,378 41.2



– 40 –




(in $000's) (in $000's) (in $000's) (in $000's)

Equities - long 64,513 76 - 64,588 Bonds - 26,344 68 26,412 Short-term notes - 6,000 - 6,000 Foreign currency forward contracts - 2,857 - 2,857 Total 64,513 35,277 68 99,858

Currency Risk (cont’d)


Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 38,227 (26,831) 11,396 16.7 Japanese Yen 2,980 - 2,980 4.4 British Pound 3,060 (1,821) 1,239 1.8 Euro 3,726 (2,666) 1,060 1.5 Hong Kong Dollar 671 - 671 1.0 Australian Dollar 1,407 (926) 481 0.7 Taiwan Dollar 452 - 452 0.7 Swiss Franc 933 (771) 162 0.2 Mexican Peso 82 - 82 0.1 Brazilian Real 10 - 10 0.1 Total 51,548 (33,015) 18,533 27.2

As at March 31, 2010, had the Canadian dollar strengthened or weakened by 10% (March 31, 2009- 10%) in relation to all other foreign currencies held in the Fund, with all other variables heldconstant, net assets of the Fund would have decreased or increased, respectively, by approximately$4,238,000 (March 31, 2009 - $1,853,000). In practice, actual results may differ from this analysisand the difference may be material.






As at March 31, 2010, had the prevailing interest rates increased or decreased by 0.25% (March 31, 2009 - 0.25%), with all other variables held constant, net assets of the Fund would havedecreased or increased, respectively, by approximately $253,000 (March 31, 2009 - $142,000).In practice, actual results may differ from this analysis and the difference may be material.



6,473 3,781 6,795 15,837 32,886



13,723 3,734 5,868 11,410 34,735


– 41 –

The table below summarizes the movement in financial instruments classified as Level 3.

for the year ended March 31, 2010Change in

Balance at Net transfers Realized gain unrealized gain Balance atMarch 31, 2009 Purchases Sales in (out) (loss) (loss)* March 31, 2010

(in $000's) (in $000's) (in $000's) (in $000's) (in $000's) (in $000's) (in $000's)

Long Positions/Assets:Bonds 128 648 (627) (95) 2 12 68 Total 128 648 (627) (95) 2 12 68

*Change in unrealized gain (loss) related to investments held at March 31, 2010 was $2,636.

During 2009 fixed income investments with a net fair value of $95,000 were transfered into Level 3 out Level 2 as observable market inputs were no longer available for these investments.

Investments classified as Level 3 are valued at fair value based on unobservable inputs and assumptions, which may include credit spreads, industry multipliers, and discount rates. Management has assessed thatthe effect of changing these inputs to reasonably possible alternatives would not have a significant impact on the net assets of the Fund.




FINANCIALS (24.3%) (cont’d)51,750 Digital Realty Trust Inc. 2,689,138 2,847,790

USD 1,912,000 DuPont Fabros Technology LP 8.5% 12/15/2017 2,051,773 1,999,878

1,425,000 ERAC Canada Finance Ltd., 5.38% 02/26/2016 1,425,796 1,432,925

2,550,000 European Investment Bank 4.6% 01/30/2037 2,359,694 2,329,706 17,900 Fairfax Financial Holdings Ltd.,

Sub-Voting Shares* 6,624,745 6,801,642 50,600 FBR Capital Markets Corp. 318,126 233,798

163,857 First Capital Realty Inc. 2,969,901 3,614,685 2,008,000 First Capital Realty Inc., 144A,

5.5% 09/30/2017 2,053,541 2,002,980 924,000 First Capital Realty Inc., 5.34% 04/01/2013 930,926 952,340

1,250,000 First Capital Realty Inc., 5.95% 06/01/2015 1,310,800 1,297,146 958,000 First Captial Realty Inc., 5.49% 12/01/2011 980,887 991,021 970,000 First Captial Realty Inc., 5.85% 01/31/2017 972,250 986,916 403,717 Genworth MI Canada Inc. 7,718,594 11,053,771 216,200 Gluskin Sheff & Associates Inc. 4,419,128 4,780,182

2,140,000 Great-West Life Capital Trust 5.995% 12/31/2052 2,273,714 2,292,490

284,090 H&R REIT 5,158,032 4,721,576 307,800 Hosted Data Transaction Solutions Inc. 377,467 153,900 560,000 HSBC Bank Canada 4.94% 03/16/2021 540,428 576,500 490,500 HSBC Holdings PLC 5,191,156 5,050,543

1,750,000 Inter-American Development Bank 4.4% 01/26/2026 1,671,145 1,658,471

USD 3,460,000 International Lease Finance Corp., 8.625% 09/15/2015 3,440,700 3,591,831

USD 10,380,000 International Lease Finance Corp., 8.75% 03/15/2017 10,224,029 10,783,609

48,580 Invesco Mortgage Capital Inc. 1,099,433 1,134,162 971,912 JPMorgan Chase & Co 12,701,246 15,169,778

USD 21,870,000 JPMorgan Chase & Co., FRN, Callable, 7.9% 04/30/2049 20,346,617 23,676,917

883,000 Kimco North Trust III 5.18% 08/16/2013 876,864 890,446 279,540 Kimco Realty Corp. 3,878,329 4,439,756 133,900 KKR Private Equity Investors LP 3,688,092 1,541,956 183,200 Lazard Ltd. 6,827,073 6,639,730

USD 2,268,000 Lender Processing Services Inc., 8.125% 07/01/2016 2,414,106 2,470,124

USD 4,370,000 Lincoln National Corp., Callable, 7% 05/17/2066 2,609,711 4,038,325

USD 3,900,000 Lincoln National Corp., Preferred, 6.05% 04/20/2067 1,390,612 3,297,063

144,450 Macquarie Group Ltd.* 6,398,700 6,353,178 1,491,000 Manulife Financial Capital Trust

6.7% 06/30/2012 1,591,727 1,612,044 1,081,100 Manulife Financial Corp. 21,349,538 21,589,567 2,950,000 Merrill Lynch & Co., Inc., 4.5% 01/30/2012 2,822,236 3,016,067 1,498,000 Merrill Lynch Canada Finance Co.,

5.8% 05/05/2011 1,497,125 1,548,223 158,300 MetLife Inc. 6,926,180 6,963,824 325,600 Moody's Corp.* 9,485,163 9,836,708

2,270,000 Morgan Stanley, FRN, Floating Rate, 02/23/2012 2,265,982 2,225,418

USD 1,756,000 MU Finance PLC 8.375% 02/01/2017 1,820,849 1,758,693 74,100 National Bank of Canada 4,384,042 4,581,603

Signature Income & Growth FundStatement of Investment Portfolio as at March 31, 2010

– 42 – CIG - 6116


FINANCIALS (24.3%) 3,142,500 Aberdeen Asset Management PLC 7,786,730 6,297,110

USD 3,217,000 Ace Cash Express Inc., 10.25% 10/01/2014 3,246,539 2,711,487 358,045 Allied Properties REIT 5,597,721 7,268,314 255,420 Altus Group Income Fund 4,472,836 3,588,651

1,273,000 American Express Canada 4.7% 05/20/2011 1,259,111 1,312,526 107,741 Artis REIT 1,341,013 1,249,796

1,262,800 Banco Santander Brasil SA 17,127,267 15,742,543 583,400 Banco Santander Central Hispano SA 9,453,585 7,870,438

2,230,600 Bank of America Corp. 34,603,747 40,342,614 2,193,100 Bank of America Corp., Warrants (16Jan19) 18,871,743 21,135,040

USD 3,725,000 Bank of Ireland 2.75% 03/02/2012 3,926,142 3,781,074 1,446,000 Bank of Ireland 3.8% 09/22/2015 1,414,270 1,087,156 1,882,000 Bank of Montreal 5.18% 06/10/2015* 1,881,134 2,037,629 1,730,000 Bank of Montreal Capital Trust II, Callable,

10.221% 12/31/2107 1,730,000 2,328,835 151,300 Bank of Nova Scotia†† 6,637,932 7,684,527

2,475,000 Bank of Nova Scotia 3.43% 07/16/2014†† 2,497,028 2,486,086 970,000 Bank of Nova Scotia 5.04% 04/08/2013†† 956,951 1,030,718 999,000 Bank of Nova Scotia 6% 10/03/2018†† 998,696 1,089,759

GBP 3,240,000 Barclays Bank PLC 14% 06/15/2019 6,107,170 6,486,992 1,625,400 Barclays PLC* 8,904,438 9,025,824 1,600,000 Bear Stearns Co., Inc., 4.3% 01/12/2011 1,624,080 1,635,514

26,436 Boardwalk REIT 892,273 1,062,727 1,728,000 Boardwalk REIT, Callable 5.61% 01/23/2012 1,727,188 1,785,208 1,675,000 Brookfield Asset Management Inc.,

8.95% 06/02/2014 1,671,684 1,932,681 463,110 Brookfield Asset Management Inc., Class A 9,635,923 11,952,869 146,670 Brookfield Properties Corp. (USD) 1,547,113 2,287,762 800,000 Calloway REIT 10.25% 04/14/2014 800,000 927,508

1,735,000 Canada Housing Trust No.1 4% 06/15/2012 1,845,120 1,807,418 2,530,000 Canada Housing Trust No.1 4.1% 12/15/2018 2,610,884 2,589,661 1,495,000 Canada Housing Trust No.1

4.55% 12/15/2012 1,605,660 1,581,155 233,000 Canadian Imperial Bank of Commerce 14,286,559 17,274,620 346,500 Canadian REIT 7,327,395 9,580,725

1,025,000 Canadian Western Bank 6.199% 12/31/2056 1,025,000 938,475 3,125,000 Canadian Western Bank 5.07% 03/22/2017 3,125,000 3,176,592 2,000,000 Canadian Western Bank 5.95% 06/27/2018 1,994,040 2,048,608

USD 3,038,000 CB Richard Ellis Service 11.625% 06/15/2017 3,406,891 3,455,288 465,040 Chartwell Seniors Housing REIT 2,837,054 3,371,540

6,883,900 China Construction Bank Corp., Class H 5,625,266 5,708,245 16,391 CIT Group Inc. 582,875 647,824

USD 190,426 CIT Group Inc., 7% 05/01/2013 235,748 188,059 USD 285,639 CIT Group Inc., 7% 05/01/2014 351,744 274,112 USD 285,639 CIT Group Inc., 7% 05/01/2015 339,515 270,486 USD 476,066 CIT Group Inc., 7% 05/01/2016 543,918 445,976 USD 666,493 CIT Group Inc., 7% 05/01/2017 754,896 624,368


417,169 Cominar REIT 6,052,034 8,009,645 1,142,000 Commerzbank AG, FRN 4.5% 12/15/2016 1,138,321 1,024,422

918,000 Co-operators Financial Services Ltd., 5.07% 07/20/2012 928,392 946,368

USD 2,068,000 Couche-Tard Finance Corp., Callable, 7.5% 12/15/2013 2,386,849 2,131,547

177,000 Credit Suisse Group 8,304,773 9,258,267 113,900 Davis & Henderson Income Fund 2,162,710 2,017,169




– 43 –

ENERGY (14.6%) (cont’d)730,200 Canadian Natural Resources Ltd. 46,740,174 54,889,134

1,216,000 Canadian Natural Resources Ltd., 4.5% 01/23/2013 1,215,781 1,273,936

357,000 Canadian Oil Sands Trust 11,035,832 10,867,080 388,000 Cenovus Energy Inc. 11,505,317 10,285,880

USD 4,505,000 Chesapeake Energy Corp., 9.5% 02/15/2015 5,348,164 4,975,108 USD 971,000 Comstock Resources Inc., 8.375% 10/15/2017 1,014,215 1,013,163 USD 6,916,000 Connacher Oil and Gas Ltd.,

10.25% 12/15/2015 6,891,818 7,146,079 USD 2,740,000 Consol Energy Inc., 8% 04/01/2017 2,807,809 2,858,978 USD 210,000 Continental Resources Inc., 7.375% 10/01/2020 212,221 211,346 USD 1,455,000 Continental Resources Inc.,

8.25% 10/01/2019 1,575,739 1,566,200 USD 3,207,650 Corral Finans AB, FRN, 144A,

1.75125% 04/15/2010 3,582,599 2,638,459 107,000 Crescent Point Energy Corp.* 2,167,382 4,169,790

USD 3,645,000 Denbury Resources Inc., Callable 8.25% 02/15/2020 3,966,250 3,923,574

25,800 Enbridge Energy Partners LP 1,050,349 1,322,828 709,300 EnCana Corp. 23,477,698 22,342,950 114,200 Enerplus Resources Fund 4,751,452 2,743,084 266,800 Fort Chicago Energy Partners LP 2,980,653 2,876,104

USD 775,000 Gibson Energy Ltd., 10% 01/15/2018 781,207 773,237 USD 7,800,000 Gibson Energy ULC 11.75% 05/27/2014 8,636,040 8,693,158

487,800 Halliburton Co 15,572,157 14,910,311 393,700 Imperial Oil Ltd. 16,018,825 15,444,851

1,073,110 Inter Pipeline Fund LP 9,630,950 12,705,622 520,900 Nexen Inc. 13,185,443 13,074,590

3,539,000 North American Energy Partners Inc., 9.125% 04/07/2017 3,539,000 3,557,913

1,392,000 NOVA Gas Transmission Ltd., 8.9% 05/27/2025 1,720,332 1,818,995

289,500 Occidental Petroleum Corp. 22,596,761 24,853,596 USD 1,410,000 OPTI Canada Inc 9% 12/15/2012 1,431,907 1,474,806 USD 8,991,000 OPTI Canada Inc., Callable (USD),

8.25% 12/15/2014 9,583,100 8,582,509 USD 3,000,000 Pacific Rubiales Energy Corp.,


8.75% 11/10/2016 2,419,469 2,479,081 299,900 Pembina Pipeline Income Fund 4,625,700 5,221,259

USD 1,142,000 PetroQuest Energy Inc., 10.375% 05/15/2012 1,394,256 1,171,294 82,631 Progress Energy Resources Corp. 1,324,419 968,435

USD 11,333,000 Sabine Pass LNG LP 7.5% 11/30/2016 11,089,052 10,156,359 123,600 Schlumberger Ltd. 8,025,813 7,965,205 226,000 Spectra Energy Corp. 5,081,176 5,170,685

1,864,797 Suncor Energy Inc. 61,394,861 61,519,653 970,000 Suncor Energy Inc. 5.8% 05/22/2018 835,024 1,041,504

2,580,200 Talisman Energy Inc. 43,890,828 44,740,668 USD 3,055,000 Teekay Corp., 8.5% 01/15/2020 3,177,743 3,241,947

1,200,000 Terasen Gas Vancouver Island Inc., 6.05% 02/15/2038 1,199,172 1,277,220

350,700 TransCanada Corp.* 10,895,939 13,053,054 USD 1,987,881 Transmeridian Exploration Inc.,

Callable, 12% 12/15/2010 1,923,854 2 41,200 Transocean Ltd. 2,828,295 3,613,587

237,474 Vermilion Energy Trust* 5,651,837 8,382,832 435,984,798 447,393,034



FINANCIALS (24.3%) (cont’d)506,000 National Bank of Canada 4.456% 11/02/2016 506,000 523,833

USD 9,040,000 National Money Mart Co., 10.375% 12/15/2016 9,566,513 9,742,369

USD 4,010,000 NII Capital Corp., 10% 08/15/2016 4,380,219 4,458,994 1,878,000 Nordea Bank AB 3.95% 08/05/2015 1,840,672 1,891,988

79,200 Primaris Retail REIT 708,492 1,330,560 738,400 Prudential PLC 5,085,940 6,214,511

1,391,000 RBC Capital Trust, Callable, 5.812% 12/29/2049 1,393,430 1,496,549

2,357,000 RioCan REIT 4.7% 06/15/2012 2,350,714 2,423,450 198,970 RioCan REIT* 3,374,730 3,676,966 947,300 Royal Bank of Canada 52,348,729 56,146,471

2,245,000 Royal Bank of Canada 3.27% 11/10/2014 2,244,686 2,245,670 3,025,000 Royal Bank of Canada 3.66% 01/25/2017 3,023,881 2,989,667 1,795,000 Royal Bank of Canada 5.06% 07/17/2013 1,796,243 1,919,458 2,036,000 Royal Bank of Scotland


5.37% 05/12/2049 3,850,091 3,008,880 1,293,106 Royal Office Finance LP 5.209% 11/12/2032 1,293,093 1,303,484 1,388,000 Scotiabank Capital Trust

6.282% 12/29/2049†† 1,431,352 1,509,884 1,500,000 Scotiabank Capital Trust, Series 2002-1,

Callable, 6.626% 06/30/2052†† 1,471,882 1,621,722 2,370,000 SLM Corp., 4.625% 06/15/2011 2,038,391 2,317,896

USD 6,681,000 SLM Corp., 8% 03/25/2020 6,625,718 6,606,506 USD 8,795,000 SLM Corp., 8.45% 06/15/2018 9,102,549 9,032,751

3,360 Soverign REIT 4,194,585 3,889,758 74,900 Sun Life Financial Inc. 2,174,623 2,442,489

875,000 Sun Life Financial Inc., 7.9% 03/31/2019 873,828 998,269 2,570,000 TD Capital Trust 6.792% 12/31/2049 2,605,499 2,819,042 1,755,000 TD Capital Trust 7.243% 12/31/2018 1,768,251 2,013,087

112,900 TMX Group Inc. 3,320,643 3,365,549 1,125,500 Toronto-Dominion Bank 68,956,594 85,166,585 1,138,000 Toronto-Dominion Bank 4.854% 02/13/2013 1,138,000 1,206,238 1,880,000 Toronto-Dominion Bank 4.97% 10/30/2004 1,838,567 1,941,020

28,257 Unibail* 5,271,502 5,810,720 USD 2,344,000 Virgin Media Finance PLC 9.5% 08/15/2016 2,523,635 2,600,504

306,300 Wells Fargo & Co. 8,101,739 9,667,327 USD 15,830,000 Wells Fargo & Co., 7.98% 02/28/2049 10,468,413 16,798,698 USD 23,415,000 Wells Fargo Capital 7.7% 12/29/2049 20,396,603 24,550,630

1,250,000 Wells Fargo Financial Canada 3.97% 11/03/2014 1,249,950 1,269,166

325,400 Western Union Co. 5,696,084 5,604,306 987,350 Westfield Group 11,105,919 11,095,578

1,087,000 YPG Holdings Inc., 5.25% 02/15/2016 1,082,314 1,042,568 678,786,260 744,338,708

ENERGY (14.6%) 916,590 Alliance Pipeline LP 7.181% 06/30/2023 1,094,793 1,039,633 369,278 Alliance Pipeline LP 7.217% 12/31/2025 422,565 420,201 58,789 AltaGas Income Trust 1,249,191 1,081,718

1,370,000 AltaGas Income Trust 5.07% 01/19/2012 1,369,520 1,415,258 128,200 Apache Corp. 13,409,017 13,212,643 365,200 ARC Energy Trust* 7,311,685 7,479,296

1,000,000 Baytex Energy Trust 9.15% 08/26/2016 1,000,000 1,090,077 204,900 Bonavista Energy Trust 5,581,693 4,784,415

USD 2,545,000 Calfrac Holdings LP 7.75% 02/15/2015 2,601,274 2,568,286




– 44 –

MATERIALS (7.2%) 144,900 Agrium Inc.* 7,515,090 10,396,575

USD 3,600,000 Ashland Inc., 9.125% 06/01/2017 4,073,189 4,094,482 574,100 Barrick Gold Corp. 22,476,333 22,343,972 205,100 BHP Billiton PLC 5,111,284 7,144,909 332,020 Cameco Corp. 10,758,813 9,220,195

3,505,000 Cascades Inc., 7.75% 12/15/2016 3,458,384 3,526,729 USD 1,880,000 Cascades Inc., 7.75% 12/15/2017 1,969,423 1,923,452 USD 1,015,000 Domtar Corp., 10.75% 06/01/2017 1,081,649 1,252,336 USD 6,539,500 FMG Finance Pty. Ltd. 10.625% 09/01/2016 7,759,883 7,653,567 USD 2,980,000 FMG Finance Pty. Ltd., 10% 09/01/2013 3,779,446 3,256,926 USD 8,830,000 Freeport-McMoRan Copper & Gold Inc.,

8.25% 04/01/2015 9,704,385 9,762,640 213,700 Freeport-McMoRan Copper & Gold Inc.,

Class B (USD) 18,332,764 18,116,128 439,100 Goldcorp Inc. 17,068,596 16,615,544

USD 3,303,000 Huntsman International LLC 5.5% 06/30/2016 2,930,410 3,043,923

USD 1,912,000 Innophos Inc., 8.875% 08/15/2014 2,164,937 1,999,878 USD 3,271,000 James River Coal Co., 9.375% 06/01/2012 3,361,940 3,379,819

41,700 Labrador Iron Ore Royalty Income Fund 983,444 2,230,950 USD 2,050,000 LBI Escrow Corp., 8% 11/01/2017 2,101,142 2,159,834

958,000 Noranda Operating Trust 6.529% 12/20/2010 957,042 915,426 190,000 NOVA Chemicals Corp., 7.85% 08/30/2010 184,300 191,972

USD 1,419,000 NOVA Chemicals Ltd., 6.5% 01/15/2012 1,470,517 1,477,014 USD 2,247,583 NOVA Chemicals Ltd., 8.625% 11/01/2019 2,330,660 2,350,885

2,013,900 Paladin Resources Ltd.* 9,255,478 7,391,013 110,300 Potash Corp. of Saskatchewan Inc. 12,417,510 13,372,772

USD 3,107,000 Rathgibson Inc., 11.25% 02/15/2014 3,667,192 283,963 132,500 Rio Tinto PLC 6,824,692 7,975,530

USD 2,060,000 Severstal Columbus LLC 10.25% 02/15/2018 2,204,547 2,199,134 3,335,000 Sherritt International Corp.,

7.875% 11/26/2012 3,396,275 3,470,901 13,557,000 Sherritt International Corp.,

8.25% 10/24/2014 13,557,000 14,346,114 USD 860,000 Steel Dynamics Inc., 7.625% 03/15/2020 880,859 895,160 USD 3,518,000 Steel Dynamics Inc., Senior Notes,

6.75% 04/01/2015 2,696,691 3,599,310 USD 875,000 Teck Resources Ltd., 10.25% 05/15/2016 973,704 1,057,386 USD 11,923,000 Teck Resources Ltd., 10.75% 05/15/2019 13,800,014 14,832,012 USD 408,000 The Scotts Miracle-Gro Co., 7.25% 01/15/2018 418,460 422,609

80,100 United States Steel Corp.* 4,387,826 5,166,797 USD 3,570,000 United States Steel Corp.,

7.375% 04/01/2020 3,591,577 3,634,386 AUD 3,190,000 Western Areas Ltd., 8% 07/02/2012 2,671,392 3,057,961

386,600 Xstrata PLC 7,894,069 7,440,002 218,210,917 222,202,206

CONSUMER DISCRETIONARY (5.9%) USD 3,737,000 Baker & Taylor Inc., 11.5% 07/01/2013 4,442,257 2,011,302 USD 470,000 Belo Corp., 8% 11/15/2016 483,827 497,568 USD 3,281,410 Blockbuster Inc., 11.75% 10/01/2014 3,298,852 2,457,542

102,200 BorgWarner Inc.* 3,282,275 3,962,463 270,700 Bridgestone Corp. 4,700,746 4,686,945

USD 852,469 CanWest MediaWorks Inc., 8% 09/15/2012 911,716 831,052 USD 810,000 CSC Holdings Inc., 8.5% 04/15/2014 889,537 876,018

148,000 DaimlerChrysler AG, Registered Shares* 7,031,038 7,048,247 USD 815,000 Dollar General Corp., 2.875% 06/30/2027 550,313 763,488



INDUSTRIALS (8.2%) 577,900 Abertis Infraestructuras SA 12,701,108 11,297,174

1,488,000 Aeroports De Montreal 5.67% 10/16/2037 1,486,512 1,502,059 2,084,000 Altalink 5.249% 09/22/2036 2,039,631 2,041,365 1,036,000 AltaLink Investments LP 5.019% 11/21/2012 1,036,000 1,072,027 1,240,000 AltaLink Investments LP 5.207% 12/16/2016 1,240,000 1,247,487

332,800 Atlantia SpA 8,352,427 7,852,610 136,000 BE Aerospace Inc. 3,472,052 4,199,850

1,952,000 Bombardier Inc., Class B, Sub-Voting Shares 7,840,390 12,063,360 236,360 BR Malls Participacoes SA 3,003,629 2,831,823 264,800 Canadian National Railway Co. 14,221,760 16,277,256 374,800 Ferrovial SA 4,715,412 3,696,841 519,100 Finning International Inc. 10,002,139 9,541,058

1,446,000 Finning International Inc., 5.16% 09/03/2013 1,445,913 1,522,672 850,000 FortisAlberta Inc., 5.33% 10/31/2014 893,860 920,164

USD 950,000 General Maritime Corp., 12% 11/15/2017 995,983 1,032,252 USD 5,820,000 Geokinetics Holdings Inc., 9.75% 12/15/2014 6,085,264 5,540,803

893,000 Greater Toronto Airports Authority, Callable, 6.98% 10/15/2032 1,079,792 1,059,945

2,378,000 Holcim Finance Canada Inc., 5.9% 06/21/2013 2,358,040 2,500,838

104,930 IESI-BFC Ltd. 2,551,473 1,828,930 349,000 Ingersoll-Rand PLC 10,242,048 12,347,584

6,283,000 Iron Mountain Inc., 7.5% 03/15/2017 6,173,723 6,158,403 USD 8,230,000 Jabil Circuit Inc., 8.25% 03/15/2018 8,386,309 9,026,139

99,300 Joy Global Inc. 5,720,922 5,707,476 USD 4,971,000 K Hovnanian Enterprises Inc.,

10.625% 10/15/2016 5,215,678 5,376,155 USD 2,046,000 Kansas City Southern de Mexico

9.375% 05/01/2012 2,147,917 2,129,648 USD 3,555,000 Kansas City Southern de Mexico SA de CV

8% 02/01/2018 3,627,042 3,700,342 USD 838,000 Kansas City Southern Railway 8% 06/01/2015 892,892 883,962

4,853,534 Macquarie Airports 12,371,426 13,974,878 653,180 MacQuarie Atlas Roads Group 480,494 569,083

5,777,200 Macquarie Infrastructure Group 8,542,494 6,002,384 USD 114,000 Manitowoc Company Inc., 9.5% 02/15/2018 119,708 120,687 USD 4,400,000 Navios Maritime Holdings/Finance US Inc.,

8.875% 11/01/2017 4,606,433 4,624,571 USD 1,930,000 Overseas Shipholding Group Inc.,

8.125% 03/30/2018 1,949,722 1,964,808 124,600 Parker-Hannifin Corp. 7,576,818 8,191,608 147,000 Randstad Holding NV 7,946,479 7,095,404 87,323 Schneider Electric SA* 8,210,750 10,401,613

194,100 SNC-Lavalin Group Inc. 8,130,992 9,613,773 670,000 SNC-Lavalin Group Inc., 6.19% 07/03/2019 670,000 716,636

USD 2,328,000 Sotheby's Holdings Inc., 7.75% 06/15/2015 2,348,563 2,402,492 2,854,366 Strait Crossing Development Inc.,

6.17% 09/15/2031 2,989,035 2,738,250 3,559,000 Superior Plus Corp., 8.25% 10/27/2016 3,559,000 3,690,127

47,000 TransDigm Group Inc. 2,418,743 2,527,693 248,500 Union Pacific Corp. 14,099,463 18,497,319

USD 5,689,020 US Oncology Holdings Inc., FRN, 6.64344% 03/15/2012 5,915,289 5,473,878

541,200 Weir Group PLC 5,632,440 7,799,954 370,200 WestJet Airlines Ltd. 4,401,365 5,042,124 69,100 WW Grainger Inc.* 6,287,796 7,586,868

236,184,926 252,392,373




– 45 –

TELECOMMUNICATION SERVICES (5.8%) 423,200 AT&T Inc. 12,000,812 11,104,950

1,464,700 BCE Inc. 40,490,290 43,618,766 185,100 Bell Aliant Regional Communications

Income Fund 5,025,021 4,703,391 820,000 Bell Aliant Regional Communications

Income Fund 6.17% 02/26/2037 766,224 773,356 950,000 Bell Aliant Regional Communications LP

5.41% 09/26/2016 954,664 991,350 525,000 Bell Canada 4.85% 06/30/2014 524,170 552,096 648,000 Bell Canada 5% 02/15/2017 582,333 672,976

USD 900,000 Digicel Group Ltd., 10.5% 04/15/2018 912,557 948,220 USD 3,210,000 Digicel Group Ltd., 12% 04/01/2014 3,766,439 3,691,660 USD 1,200,000 Digicel Group Ltd., 8.25% 09/01/2017 1,249,604 1,206,410

1,951,000 France Telecom SA 4.95% 06/23/2011 1,959,648 2,022,217 1,200,000 France Telecom SA 5.5% 06/23/2016 1,265,910 1,266,303

USD 9,864,000 Intelsat Bermuda Ltd., 11.25% 06/15/2016 12,206,641 10,843,248 USD 2,275,000 Intelsat Jackson Holdings 8.5% 11/01/2019 2,337,593 2,425,767

551,293 Manitoba Telecom Services Inc.* 19,500,239 17,586,247 USD 3,483,000 MetroPCS Wireless Inc., 9.25% 11/01/2014 3,718,940 3,616,556 USD 2,406,000 NII Holdings Inc., 3.125% 06/15/2012 2,148,671 2,305,850

1,200,000 Northwest Connect Group 5.95% 04/30/2041 1,207,884 1,136,717 USD 210,000 Qwest Corp., 8.375% 05/01/2016 240,409 239,911

1,180,000 Rogers Communications Inc., 5.8% 05/26/2016 1,177,251 1,279,644

674,000 Rogers Communications Inc., Class B* 20,081,052 23,327,140 4,202,000 Rogers Wireless Inc., 7.625% 12/15/2011 4,258,074 4,572,219

912,400 TELUS Corp., Non-Voting Shares* 32,525,971 33,147,492 USD 4,923,000 Wind Acquisition Finance SA

11.75% 07/15/2017 5,820,784 5,524,215 174,721,181 177,556,701

HEALTH CARE (5.6%) 325,100 Amylin Pharmaceuticals Inc. 5,351,059 7,385,185

USD 3,950,000 Amylin Pharmaceuticals Inc., 3% 06/15/2014 3,245,873 3,574,992

USD 4,865,000 Apria Healthcare Group Inc., 11.25% 11/01/2014 5,381,088 5,372,675

USD 600,000 Apria Healthcare Group Inc., 12.375% 11/01/2014 647,382 667,181

USD 4,045,000 Axcan Intermediate Holdings Inc.,9.25% 03/01/2015 4,092,134 4,436,298

USD 4,392,000 Biomet Inc., 10% 10/15/2017 4,403,293 4,917,217 USD 1,043,000 Bio-Rad Labs 8% 09/15/2016 1,185,022 1,128,008 USD 1,368,000 Boston Scientific Corp., 6.25% 11/15/2015 1,270,118 1,430,875 USD 2,501,000 Boston Scientific Corp., Senior Notes,

6.4% 06/15/2016 2,371,970 2,615,949 343,700 CML Healthcare Income Fund 4,443,964 4,351,242

USD 710,000 DJO Finance LLC / DJO Finance Corp.,10.875% 11/15/2014 783,503 783,189

USD 201,000 DJO Finance LLC / DJO Finance Corp., 10.875% 11/15/2014 215,987 221,720

751,600 Eli Lilly and Co. 31,040,267 27,644,812 USD 1,750,000 HCA Inc., 8.5% 04/15/2019 2,061,270 1,911,522 USD 7,739,000 HCA Inc., Callable 9.125% 11/15/2014 8,660,132 8,320,639 USD 2,810,000 HealthSouth Corp., 10.75% 06/15/2016 3,213,637 3,085,396 USD 2,375,000 Inverness Medical Innovations Inc.,

9% 05/15/2016 2,661,735 2,460,040



CONSUMER DISCRETIONARY (5.9%) (cont’d)USD 4,402,000 Dollarama Group LP, FRN,

7.20575% 08/15/2012 4,960,296 4,476,474 USD 2,957,000 Foot Locker Inc., 8.5% 01/15/2022 3,350,775 2,777,611 USD 5,600,000 Goodyear Tire & Rubber Co.,

10.5% 05/15/2016 6,513,220 6,141,723 USD 4,143,000 Great Canadian Gaming Corp.,

7.25% 02/15/2015 4,612,529 4,165,130 559,000 Groupe Aeroplan Inc. 6,091,599 5,953,350

USD 694,000 Grupo Posadas SAB de CV 9.25% 01/15/2015 724,918 734,707 USD 3,430,000 H&E Equipment Services Inc.,

8.375% 07/15/2016 4,267,871 3,369,950 USD 235,000 Hanesbrands Inc., 8% 12/15/2016 244,610 246,994

165,900 Honda Motor Co., Ltd. 5,582,451 5,937,657 USD 3,396,000 Host Hotels & Resorts Inc.,

2.625% 04/15/2027 3,261,876 3,302,059 USD 272,000 Jarden Corp., 7.5% 01/15/2020 275,967 278,977

136,600 Johnson Controls Inc.* 3,564,368 4,576,268 USD 2,750,000 Lions Gate Entertainment Inc.,

Senior Secured Notes, 10.25% 11/01/2016 2,743,415 2,858,940 USD 3,087,000 MGM Mirage Inc., 144A

10.375% 05/15/2014 3,491,817 3,456,158 USD 8,640,000 MGM Mirage Inc., 5.875% 02/27/2014 7,859,826 7,392,002 USD 1,112,000 MGM Mirage Inc., 7.625% 01/15/2017 931,246 940,086 USD 6,030,000 MGM Mirage Inc., 9% 03/15/2020 6,277,862 6,307,147 USD 2,190,000 Mohegan Tribal Gaming Authority

11.5% 11/01/2017 2,229,228 2,368,493 USD 4,578,000 Mohegan Tribal Gaming Authority

6.125% 02/15/2013 4,138,402 3,974,846 USD 5,047,000 Neiman Marcus Group Inc.,

10.375% 10/15/2015 5,503,027 5,291,780 USD 3,040,000 Newell Rubbermaid Inc., 10.6% 04/15/2019 3,804,151 4,072,823 USD 257,000 QVC Inc., 7.125% 04/15/2017 259,698 262,614 USD 257,000 QVC Inc., 7.375% 10/15/2020 259,698 262,288 USD 2,430,000 Reliance Intermediate Holdings LP, 144A,

Private Placement, 9.5% 12/15/2019^ 2,612,329 2,609,547 250,893 RONA Inc. 4,531,179 3,846,190

USD 705,000 Salem Communications Corp 9.625% 12/15/2016 739,651 748,142

USD 6,476,000 Scientific Games Corp., 7.875% 06/15/2016 6,549,122 6,658,560 USD 470,000 Scientific Games International Inc.,

9.25% 06/15/2019 509,157 506,517 1,700,000 Shaw Communications Inc.,

5.65% 10/01/2019 1,694,611 1,751,808 1,725,000 Shaw Communications Inc., 6.5% 06/02/2014 1,723,023 1,900,442 1,210,000 Shaw Communications Inc.,

6.75% 11/09/2039 1,201,845 1,244,383 733,000 Shaw Communications Inc., 7.5% 11/20/2013 745,443 830,576

USD 1,761,000 Starwood Hotels & Resort Worldwide Inc., 7.15% 12/01/2019 1,831,142 1,810,643

1,025,451 Tesco PLC 7,476,130 6,879,808 USD 5,080,000 UPC Germany GmbH 8.125% 12/01/2017 5,314,866 5,319,932

19,100 Volkswagen AG, Preferred 1,710,715 1,703,135 108,100 Volkswagen AG, Private Placement^ 10,217,266 9,974,355 108,100 Volkswagen AG, Rights (13Apr10) - 70,440

USD 3,556,000 Wynn Las Vegas LLC 6.625% 12/01/2014 3,303,367 3,602,078 4,758,300 Yellow Pages Income Fund 26,994,880 29,263,545

183,694,137 181,002,803





– 46 –

CONSUMER STAPLES (4.7%) (cont’d)144,898 Shoppers Drug Mart Corp. 6,617,840 6,323,349

USD 4,976,000 The Mosaic Co., 7.375% 12/01/2014 5,796,795 5,407,940 303,000 Unilever NV* 9,396,806 9,308,848

1,002,700 Viterra Inc.* 8,999,997 9,575,785 1,755,000 Viterra Inc., 8% 04/08/2013 1,755,000 1,783,976 4,606,000 Viterra Inc., 8.5% 08/01/2017 4,599,400 4,888,118

552,600 Wal-Mart de Mexico SA de CV* 1,852,087 2,860,781 141,000 Wal-Mart Stores Inc. 8,130,149 7,961,086

142,212,474 144,773,161GOVERNMENT BONDS (4.2%)

4,364,000 55 Ontario School Board Trust 5.9% 06/02/2033 4,861,671 4,723,923

2,520,000 Austria Government International Bond 5.375% 12/01/2034 2,734,457 2,530,317

1,075,000 Canadian Government Bond 2% 09/01/2012 1,085,105 1,074,271 7,850,000 Canadian Government Bond 2% 12/01/2014* 7,579,526 7,575,732 4,605,000 Canadian Government Bond 3% 06/01/2014 4,702,355 4,659,128

15,860,000 Canadian Government Bond 3.5% 06/01/2020 15,663,657 15,641,655

3,445,000 Canadian Government Bond 3.75% 09/01/2011* 3,596,515 3,559,684

1,250,000 Canadian Government Bond 4% 06/01/2016* 1,333,010 1,311,906 7,843,000 Canadian Government Bond

4.5% 06/01/2015* 8,586,060 8,444,098 3,475,000 Canadian Government Bond 5% 06/01/2014* 3,758,760 3,788,938 6,284,000 Canadian Government Bond, Series XW98,

5% 06/01/2037* 7,293,168 7,242,436 5,770,000 Canadian Government Bond, Series YF56,




3.75% 06/01/2019* 10,700,782 10,667,581 1,866,000 City of Montreal 6% 06/01/2043 2,208,822 2,083,356 3,149,000 City of Toronto 5.05% 07/18/2017 3,140,435 3,327,171 2,700,000 EUROFIMA 5.15% 12/13/2019 2,852,154 2,774,462 2,000,000 Instituto de Credito Oficial 4.53% 03/17/2016 2,050,536 2,009,906 1,550,000 Instituto de Credito Oficial 5% 03/31/2020 1,572,738 1,519,240

862,000 Municipal Finance Authority of British Columbia 8.75% 05/12/2013 1,068,535 1,013,792

2,100,000 Province of British Columbia 4.7% 06/18/2037 2,069,088 2,091,910

3,435,000 Province of Ontario 4.4% 06/02/2019 3,550,072 3,492,261 4,244,000 Province of Quebec 4.5% 12/01/2016 4,193,001 4,439,137 2,602,000 Province of Quebec 5% 12/01/2038 2,749,872 2,652,217 1,615,000 Province of Quebec 4.5% 12/01/2018 1,673,140 1,654,795 1,575,000 Province of Quebec 4.5% 12/01/2019 1,612,800 1,598,913 2,398,000 Province of Quebec 5.75% 12/01/2036 2,712,893 2,699,016

958,000 Queen's University 6.1% 11/19/2032 1,099,113 1,061,595 531,000 University of British Columbia

6.65% 01/12/2031 645,530 622,648 4,038,000 York University 6.48% 03/07/2042 4,937,375 4,743,221

129,739,062 128,527,726


HEALTH CARE (5.6%) (cont’d)385,555 Johnson & Johnson 26,417,166 25,527,739 440,400 Merck & Co., Ltd. 16,895,188 16,690,424

1,030,400 Patheon Inc. 6,156,210 2,576,000 USD 1,125,568 QHP Royalty Sub LLC 10.25% 03/15/2015 1,199,915 1,155,412

111,500 Roche Holding AG 19,140,397 18,355,810 USD 2,936,153 Skilled Healthcare Group Inc.,

11% 01/15/2014 3,481,632 3,138,190 952,350 Smith & Nephew PLC 8,590,020 9,637,268 201,400 Talecris Biotherapeutics Holdiings 4,124,398 4,067,922

USD 4,310,000 Talecris Biotherapeutics Holdings Corp., Senior Unsecured Notes 7.75% 11/15/2016 4,490,761 4,398,674

USD 4,300,000 United Surgical Partners International Inc., 8.875% 05/01/2017 4,338,310 4,530,384

175,862,431 170,384,763INFORMATION TECHNOLOGY (5.4%)

405,900 Activision Inc. 5,195,505 4,962,768 1,803,200 Advanced Micro Devices Inc.* 10,788,857 16,938,075

USD 3,160,000 Cie Gen Geophysique 9.5% 05/15/2016 3,464,901 3,433,597 535,000 EMC Corp.* 8,561,394 9,800,963 447,600 Finisar Corp. 6,750,872 7,131,673

USD 3,261,000 First Data Corp., 9.875% 09/24/2015 2,982,834 2,856,198 214,500 FormFactor Inc.* 5,280,119 3,868,554 11,300 Google Inc., Class A 4,839,645 6,498,699

USD 7,907,000 Hughes Network Systems LLC9.5% 04/15/2014 8,650,718 8,250,343

597,500 Intel Corp. 12,065,801 13,506,459 772,900 JDS Uniphase Corp.* 6,806,948 9,826,663 175,000 Maxim Integrated Products Inc.* 3,405,306 3,445,833

1,023,500 Micron Technology Inc.* 7,483,302 10,767,776 476,300 Microsoft Corp. 11,868,843 14,152,505

USD 10,507,000 Nortel Networks Corp., 10.75% 07/15/2016 10,173,676 8,575,869 339,600 NVIDIA Corp.* 4,172,976 5,993,712 343,700 Research In Motion Ltd. (USD) 24,801,562 25,813,973 409,100 Symantec Corp. 7,992,700 7,025,084

1,331,000 Thomson Reuters Corp., 5.7% 07/15/2015 1,328,578 1,462,610 146,614,537 164,311,354

CONSUMER STAPLES (4.7%) 81,800 Alimentation Couche-Tard Inc., Class B 1,808,808 1,510,028

USD 6,500,000 Alliance One International Inc., 10% 07/15/2016 7,168,554 6,897,760

USD 3,395,000 Beatrice Foods Canada Ltd., 1% 11/19/2026 1,001,410 1,010,667 98,577 British American Tobacco PLC 3,721,322 3,450,765

174,200 Bunge Ltd.* 12,521,842 10,902,315 USD 846,000 Cott Beverages Inc., 8.375% 11/15/2017 890,738 887,031

386,981 CVS Corp. 13,710,359 14,367,270 303,654 Diageo PLC 5,526,448 5,172,064 79,505 Groupe Danone* 6,096,155 4,863,335

USD 2,393,000 Ingles Markets Inc., 8.875% 05/15/2017 2,670,174 2,539,437 1,010,000 Loblaw Cos. Ltd., 6.05% 06/09/2034 815,108 988,800

580,000 Loblaw Cos. Ltd., 6.15% 01/29/2035 413,319 574,689 1,030,000 Metro Inc., 5.97% 10/15/2035 890,116 1,007,013 2,241,000 Molson Coors Capital Finance Co.,

Senior Notes, 5% 09/22/2015 2,213,894 2,352,711 298,100 Nestle SA, Registered Shares 12,577,715 15,492,091 108,900 PepsiCo Inc. 6,778,660 7,316,473 145,705 Procter & Gamble Co. 10,133,806 9,363,093 270,276 Saputo Inc. 6,125,972 7,967,736




– 47 –



FUNDS (0.1%) 1,370,038 International Public Partnership Ltd. 2,630,331 2,413,801

ASSET BACKED (0.1%) 800,000 CCIC 2006-WEM Class F 5.248% 01/15/2022 768,503 645,736

1,950,000 CCIC 2006-WEM, MBS A2 4.934% 01/15/2022 1,949,932 1,694,493

2,718,435 2,340,229WARRANTS (0.1%)

13,427 First Capital Realty Inc., Warrants (29Oct10) - 59,750



Short Term Notes (7.7%) 235,000,000 235,000,000




Other Assets (net) (1.4%) 46,083,443

Net Assets (100.0%) 3,064,865,510

Principal amounts stated in:AUD Australian Dollar GBP British Pound USD U.S. Dollar


UTILITIES (1.8%) USD 7,079,000 AES Corp., Callable, 8.75% 05/15/2013 7,370,089 7,296,530

1,370,000 Brookfield Renewable Power 6.132% 11/30/2016 1,370,000 1,422,738

209,580 Brookfield Renewable Power Fund 3,070,347 4,399,084 1,150,000 Brookfield Renewable Power Inc.,

5.84% 11/05/2036 1,015,381 1,024,294 2,190,000 Canadian Hydro Developers Inc.,

5.334% 09/01/2015 2,190,000 2,085,662 2,105,000 Hamilton Utilities Corp., 6.25% 07/30/2012 2,288,631 2,271,329

USD 6,911,000 Intergen NV 9% 06/30/2017 7,415,563 7,228,639 310,180 Northland Power Income Fund 3,725,999 4,081,969

2,662,096 Prime Infrastructure Group 12,262,422 8,930,128 2,150,000 Reliance LP 7.3% 04/03/2013 2,145,753 2,188,966

65,200 Sempra Energy* 4,269,158 3,303,897 2,053,000 Terasen Gas Inc., Callable, 6.5% 05/01/2034 2,064,058 2,363,741

423,100 TransAlta Corp.* 13,137,303 9,464,747 500,000 Union Gas Ltd., 6.05% 09/02/2038 499,040 541,342

62,823,744 56,603,066PRIVATE PLACEMENTS (1.3%)

USD 2,870,475 Aramark Corp., Term Loan, Private Placement 7.47% 01/27/2014^ 3,395,658 2,859,092

4,387,500 Bragg Communication Inc., Loan, Private Placement 7.53% 08/31/2014^ 4,387,500 4,349,109

USD 3,714,000 CCS Inc., Private Placement 11% 11/15/2015^ 3,346,509 3,092,674

USD 5,981,526 Clarketerm, Private Placement 7.84% 06/30/2014^ 6,825,601 5,530,576

USD 5,700,000 Connacher Oil and Gas Ltd., Private Placement 11.75% 07/15/2014^ 6,326,828 6,359,001

USD 3,933,610 Dow Jones CDX HY, 144A, Private Placement 6.75% 06/29/2012^ 4,236,629 4,114,404

USD 2,800,000 Goldcorp Inc., Private Placement 2% 08/01/2014^ 3,035,830 3,163,272

USD 1,269,728 Great Canadian Gaming Corp., Private Placement 4.30375% 02/12/2014^ 1,353,463 1,263,616

USD 1,044,244 HealthSouth Corp., Private Placement 8.15% 03/10/2013^ 1,311,872 1,041,678

USD 859,458 HealthSouth Corp., Term Loan, Private Placement 8.15% 03/10/2013^ 861,731 877,922

USD 3,122,000 JBS USA LLC, 144A, Private Placement11.625% 05/01/2014^ 3,574,736 3,614,233

USD 2,030,000 Maple Leaf Foods Inc., Private Placement 5.21% 12/08/2011^ 1,951,837 2,030,536

USD 1,060,000 New Communications Holdings Inc., Private Placement 8.25% 04/15/2017^ 1,088,307 1,095,264


42,784,808 40,475,876



– 48 –






1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.02 (21,973,215) Canadian $ 21,500,000 US $ (138,971)1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.57 (6,446,000) Euro 10,091,316 Canadian $ 1,246,835 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.51 (10,477,000) Euro 15,775,313 Canadian $ 1,400,563 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.38 (4,551,000) Euro 6,271,651 Canadian $ 28,120 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (123,153,000) US $ 130,737,993 Canadian $ 5,664,804 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (18,986,000) US $ 20,052,633 Canadian $ 770,724 1 Credit Suisse Group A-1 17-Jun-10 1.06 (133,258,000) US $ 141,447,370 Canadian $ 6,111,645 1 Morgan Stanley A-1 08-Jun-10 1.50 (6,982,000) Euro 10,507,002 Canadian $ 927,500 1 Morgan Stanley A-1 08-Jun-10 1.56 (11,543,000) Euro 18,050,718 Canadian $ 2,212,722 1 Morgan Stanley A-1 17-Jun-10 1.06 (117,280,000) US $ 124,505,621 Canadian $ 5,397,000 1 Morgan Stanley A-1 17-Jun-10 1.07 (14,076,000) US $ 15,114,809 Canadian $ 819,139 1 Morgan Stanley A-1 17-Jun-10 1.07 (16,250,000) US $ 17,328,350 Canadian $ 824,892 1 Royal Bank of Canada A-1+ 17-Jun-10 1.07 (18,050,000) US $ 19,365,665 Canadian $ 1,033,995 1 Royal Bank of Canada A-1+ 17-Jun-10 1.03 (6,210,000) US $ 6,365,436 Canadian $ 58,872 1 Royal Bank of Canada A-1+ 17-Jun-10 1.06 (88,092,000) US $ 93,472,659 Canadian $ 4,007,189 1 State Street Corporation A-1 17-Jun-10 1.02 (21,987,190) Canadian $ 21,500,000 US $ (152,930)1 State Street Corporation A-1 17-Jun-10 1.06 (118,775,000) US $ 126,083,226 Canadian $ 5,456,306 1 State Street Corporation A-1 17-Jun-10 1.07 (16,250,000) US $ 17,350,531 Canadian $ 847,048 1 State Street Corporation A-1 17-Jun-10 1.07 (18,050,000) US $ 19,325,233 Canadian $ 993,610 1 UBS AG A-1 08-Jun-10 1.08 (12,250,000) Australian $ 11,292,173 Canadian $ (32,413)1 UBS AG A-1 08-Jun-10 1.09 (15,097,000) Australian $ 13,865,387 Canadian $ (91,075)1 UBS AG A-1 08-Jun-10 1.74 (26,086,000) British Pound 45,382,858 Canadian $ 5,185,167 1 UBS AG A-1 08-Jun-10 1.04 (9,561,000) Swiss Franc 9,968,305 Canadian $ 751,942 1 UBS AG A-1 17-Jun-10 1.06 (119,440,000) US $ 126,797,504 Canadian $ 5,495,206 1 UBS AG A-1 17-Jun-10 1.07 (3,619,000) US $ 3,864,079 Canadian $ 188,626



Signature Income & Growth FundFinancial Statements




















2,734,776 1,715,7236,607 1,803

235,000 250,000- -- -- -

49,422 5,283- -- -

8,795 3,99327,145 16,071

- -23,213 19,714

3,084,958 2,012,587

- -- -- -

415 6,970- -

16,130 4,1383,547 2,741

- -- -- -

20,092 13,8493,064,866 1,998,738

2,630,681 1,969,169- -

1,955,771 1,333,38150,931 38,416

1,058,164 626,941

4.70 3.804.86 3.929.38 7.57

416,120,461 350,892,53710,477,783 9,794,386

112,769,032 82,831,370

40,558 33,54770,325 76,324

382 662(702) 1,154

- -- -

(3,039) (2,642)107,524 109,045

33,774 31,6663,428 3,212

6 61,860 1,742

39,068 36,62668,456 72,419

224,483 (385,394)(2,877) 1,032(4,602) (3,833)

- -

408,234 (195,907)625,238 (584,102)693,694 (511,683)

440,590 (364,522)12,414 (9,345)

240,690 (137,816)

1.19 (1.07)1.28 (1.05)2.49 (1.97)


2010 2009


2010 2009


Signature Income & Growth FundFinancial Statements

– 50 –

















626,941 590,807

240,910 409,55676,009 63,264(49,059) (234,587)267,860 238,233

- -(27,086) (25,075)(50,241) (39,208)(77,327) (64,283)240,690 (137,816)

1,058,164 626,941

1,998,738 2,375,827

880,929 898,416167,222 155,836(480,166) (733,697)567,985 320,555

- -(68,454) (73,208)

(127,097) (112,753)(195,551) (185,961)693,694 (511,683)

3,064,866 1,998,738

1,333,381 1,742,113

622,569 466,24989,367 90,516

(415,338) (482,870)296,598 73,895

- -(40,169) (46,713)(74,629) (71,392)

(114,798) (118,105)440,590 (364,522)

1,955,771 1,333,381

38,416 42,907

17,450 22,6111,846 2,056

(15,769) (16,240)3,527 8,427

- -(1,199) (1,420)(2,227) (2,153)(3,426) (3,573)12,414 (9,345)50,931 38,416


2010 2009



2010 2009


Signature Income & Growth FundFinancial Statements – Supplementary Schedules

– 51 –



Class IBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedBalance, end of year


2010 2009


195,924 122,598200,905 130,660


2010 2009


4,550 3,781355 283


2010 2009

350,892,537 335,074,609138,074,271 105,030,30120,011,968 20,311,199(92,858,315) (109,523,572)416,120,461 350,892,537

9,794,386 7,999,9413,737,958 4,988,340

400,924 448,695(3,455,485) (3,642,590)10,477,783 9,794,386

82,831,370 56,941,99626,894,664 44,374,6018,528,886 7,152,608(5,485,888) (25,637,835)

112,769,032 82,831,370




2.001.00


0.200.20

-


2010




4.70 3.804.70 3.80

4.86 3.924.87 3.93

9.38 7.579.39 7.58


2010 2009



167,788

--------


2010


Signature Income & Growth FundFund Specific Financial Instruments Risks (Note 11)




Financials ................................................................................................................................. 23.3Short Term Investments........................................................................................................... 12.5Materials.................................................................................................................................. 12.1Energy ...................................................................................................................................... 10.7Industrials ................................................................................................................................ 7.6Government Bonds................................................................................................................... 5.6Consumer Staples.................................................................................................................... 5.5Telecommunication Services ................................................................................................... 4.8Information Technology ........................................................................................................... 4.6Health Care .............................................................................................................................. 3.8Consumer Discretionary........................................................................................................... 3.8Utilities..................................................................................................................................... 2.7Other Assets ............................................................................................................................ 1.6Private Placements .................................................................................................................. 1.3Asset Backed ........................................................................................................................... 0.1Warrants .................................................................................................................................. 0.1Foreign Government Bonds...................................................................................................... -0.1






– 52 –









Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 1,199,294 (780,401) 418,893 13.7 British Pound 94,973 (40,210) 54,763 1.8 Euro 91,134 (54,872) 36,262 1.2 Swiss Franc 44,889 (9,210) 35,679 1.2 Australian Dollar 52,199 (25,483) 26,716 0.9 Brazilian Real 18,640 - 18,640 0.6 Japanese Yen 11,196 - 11,196 0.4 Hong Kong Dollar 5,708 - 5,708 0.2 Mexican Peso 2,861 - 2,861 0.1 Uruguayan New Peso - - - 0.0 Total 1,520,894 (910,176) 610,718 20.1


Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 777,682 (520,957) 256,725 12.8 British Pound 48,513 (27,846) 20,667 1.0 Euro 25,544 (13,307) 12,237 0.6 Australian Dollar 25,649 (16,231) 9,418 0.5 Hong Kong Dollar 5,600 - 5,600 0.3 Israeli Shekel 4,434 - 4,434 0.2 Swiss Franc 12,185 (10,093) 2,092 0.1 Mexican Peso 1,818 - 1,818 0.1 Brazilian Real 312 - 312 0.1 Japanese Yen 8 - 8 0.1 Total 901,745 (588,434) 313,311 15.8



Signature Income & Growth FundFund Specific Financial Instruments Risks (Note 11)

– 53 –




(in $000's) (in $000's) (in $000's) (in $000's)

Equities - long 1,804,021 1,703 - 1,805,724 Bonds - 924,621 2,031 926,652 Mortgage backed securities - 2,340 - 2,340 Short-term notes - 235,000 - 235,000 Foreign currency forward contracts - 49,007 - 49,007Warrants 60 - - 60 Total 1,804,081 1,212,671 2,031 3,018,783





Long Positions/Assets:Bonds 6,495 1,952 - (7,138) - 722 2,031 Total 6,495 1,952 - (7,138) - 722 2,031


During 2009 fixed income investments with a net fair value of $7,138,000 were transfered out of Level 3 into Level 2 as observable market inputs became available for these investments.







As at March 31, 2010, had the prevailing interest rates increased or decreased by 0.25% (March31, 2009 - 0.25%), with all other variables held constant, net assets of the Fund would havedecreased or increased, respectively, by approximately $10,740,000 (March 31, 2009 - $6,432,000).In practice, actual results may differ from this analysis and the difference may be material.



246,988 88,498 216,627 618,486 1,170,599



273,415 144,666 160,634 430,338 1,009,053


CORPORATE BONDS (51.1%) (cont’d)8,615,000 Canadian Natural Resources Ltd.,

4.95% 06/01/2015* 8,694,064 9,060,373 6,000,000 Canadian Western Bank 6.199% 12/31/2056 6,000,000 5,493,513

10,600,000 Canadian Western Bank 5.07% 03/22/2017 10,596,979 10,775,000 4,785,000 CCIC 2006-WEM, Class F, 5.248% 01/15/2022 4,679,512 3,862,308

14,850,000 CCIC 2006-WEM, MBS A2, 4.934% 01/15/2022 14,612,874 12,904,213

USD 344,597 CIT Group Inc., 7% 05/01/2013 424,196 340,314 USD 516,896 CIT Group Inc., 7% 05/01/2014 632,916 496,036 USD 516,896 CIT Group Inc., 7% 05/01/2015 610,911 489,475 USD 861,494 CIT Group Inc., 7% 05/01/2016 978,707 807,044 USD 1,206,091 CIT Group Inc., 7% 05/01/2017 1,358,333 1,129,861

9,350,000 Citigroup Finance Canada Inc., 6.75% 09/22/2014 9,341,772 9,997,847

8,650,000 Commerzbank AG, FRN, 4.5% 12/15/2016 8,606,316 7,759,413 7,495,000 Co-operators Financial Services Ltd.,

5.07% 07/20/2012 7,478,332 7,726,614 12,535,000 Depfa ACS Bank 5.25% 03/31/2025* 12,369,210 10,416,725 7,200,000 Deutsche Bank AG 4.9% 08/22/2016 6,990,043 6,640,916 3,772,000 Enbridge Gas Distribution Inc.,

6.9% 11/15/2032 4,196,631 4,512,803 2,935,000 Enbridge Inc., 5.17% 05/19/2016 2,933,298 3,132,296 7,965,000 Finning International Inc., 5.16% 09/03/2013 7,996,135 8,387,331 7,225,000 First Capital Realty Inc., 5.34% 04/01/2013 7,252,342 7,446,601 5,130,000 First Capital Realty Inc., 5.95% 06/01/2015* 5,234,956 5,323,487 4,700,000 First Captial Realty Inc., 5.49% 12/01/2011 4,757,017 4,862,004 7,320,000 Ford Motor Credit Co., 1.517% 10/15/2012 6,339,124 6,344,475 2,425,000 Fortis Inc., 6.51% 07/04/2039 2,423,400 2,610,986 4,600,000 FortisAlberta Inc., 5.33% 10/31/2014 4,752,325 4,979,710

13,000,000 France Telecom SA 4.95% 06/23/2011 13,058,150 13,474,534 5,450,000 France Telecom SA 5.5% 06/23/2016 5,687,509 5,751,128 4,399,000 George Weston Ltd., 7.1% 02/05/2032 4,613,818 4,755,613 7,225,000 Golden Credit Card Trust 5.106% 04/15/2011 7,294,410 7,479,795 4,477,199 Greater Toronto Airports Authority

6.45% 07/30/2029 4,749,478 4,937,217 4,270,000 Greater Toronto Airports Authority,

Callable, 6.98% 10/15/2032 4,784,983 5,068,269 11,230,000 Great-West Life Capital Trust

5.995% 12/31/2052 11,931,973 12,030,217 11,375,000 Holcim Finance Canada Inc.,

5.9% 06/21/2013 11,303,973 11,962,589 3,265,000 HSBC Bank Canada 4.94% 03/16/2021 3,171,483 3,361,200 9,805,000 Inter-American Development Bank

4.4% 01/26/2026 9,153,168 9,292,174 9,000,000 Inter-American Development Bank

4.25% 12/02/2012 9,522,540 9,434,467 6,000,000 International Bank for Reconstruction

and Development 4.3% 12/15/2012* 6,363,060 6,302,895 USD 3,850,000 JPMorgan Chase & Co., FRN, Callable,

7.9% 04/30/2049 3,679,480 4,168,090 5,200,000 Kimco North Trust II 4.45% 04/21/2010 5,152,833 5,205,187 7,100,000 Kimco North Trust III 5.18% 08/16/2013 6,980,867 7,159,870 6,450,000 Loblaw Cos. Ltd., 6.05% 06/09/2034 5,435,867 6,314,611 3,050,000 Loblaw Cos. Ltd., 6.15% 01/29/2035* 2,180,826 3,022,072 2,100,000 Loblaw Cos. Ltd., 6.5% 01/19/2011 2,122,193 2,182,688 4,800,000 Mansfield Trust 6.571% 11/15/2025 573,966 565,775

Signature Canadian Bond FundStatement of Investment Portfolio as at March 31, 2010

– 54 – CIG - 837


CORPORATE BONDS (51.1%) 5,150,000 407 International Inc., 5.1% 01/20/2014* 5,177,812 5,492,336 6,110,000 407 International Inc., Callable,

5.96% 12/03/2035* 6,086,473 6,551,415 12,109,610 Access Health Abbotsford Ltd.,

6.032% 03/07/2038 13,518,130 12,315,797 10,798,855 Access Roads Edmonton Ltd.,

5.812% 09/30/2037 11,816,779 10,859,190 3,084,791 Alliance Pipeline LP 7.181% 06/30/2023 3,671,931 3,498,893 5,780,178 Alliance Pipeline LP 7.217% 12/31/2025* 6,875,817 6,577,265 8,350,000 AltaGas Income Trust 4.41% 09/01/2010 8,338,027 8,452,919 1,800,000 AltaGas Income Trust 5.07% 01/19/2012 1,799,370 1,859,463 2,825,000 AltaLink Investments LP 5.381% 03/26/2040 2,825,000 2,814,522 5,250,000 AltaLink Investments LP 5.019% 11/21/2012 5,250,395 5,432,571 5,875,000 AltaLink Investments LP 5.207% 12/16/2016 5,875,000 5,910,472 4,240,000 American Express Canada 4.7% 05/20/2011* 4,245,329 4,371,649

USD 10,260,000 Bank of America Corp., Callable, 8% 01/30/2049 10,098,052 10,630,812

USD 19,525,000 Bank of Ireland 2.75% 03/02/2012 20,579,307 19,818,920 9,254,000 Bank of Ireland 3.8% 09/22/2015 9,105,826 6,957,500 9,200,000 Bank of Montreal 5.18% 06/10/2015* 9,234,372 9,960,777

12,300,000 Bank of Nova Scotia 3.43% 07/16/2014†† 12,409,470 12,355,093 5,790,000 Bank of Nova Scotia 5.04% 04/08/2013†† 5,758,323 6,152,430

11,050,000 Bank of Nova Scotia 6% 10/03/2018*†† 11,089,041 12,053,886 7,400,000 Bear Stearns Co., Inc., 4.3% 01/12/2011 7,511,370 7,564,254 4,160,000 Bell Aliant Regional Communications

Income Fund 6.17% 02/26/2037 3,472,222 3,923,368 4,820,000 Bell Aliant Regional Communications LP

5.41% 09/26/2016 4,855,222 5,029,797 3,430,000 Bell Aliant Regional Communications LP

6.29% 02/17/2015* 3,438,947 3,747,181 2,465,000 Bell Canada 4.85% 06/30/2014 2,475,547 2,592,225 3,400,000 Bell Canada 5% 02/15/2017 3,055,480 3,531,046 5,150,000 BMW Canada Inc., 3.22% 03/28/2013 5,149,434 5,157,023 9,535,000 BNS Capital Trust, Callable,

7.31% 12/31/2049†† 9,865,089 9,934,724 9,350,000 Brookfield Asset Management Inc.,

8.95% 06/02/2014 9,382,324 10,788,397 7,000,000 Brookfield Renewable Power

6.132% 11/30/2016* 7,000,000 7,269,462 8,150,000 Brookfield Renewable Power Inc.,

5.84% 11/05/2036* 7,171,974 7,259,124 5,100,000 Calloway REIT 10.25% 04/14/2014 5,159,986 5,912,865 9,000,000 Cameco Corp., 5.67% 09/02/2019 9,082,701 9,419,451 6,195,000 Canada Capital Auto Receivables

Asset Trust 2.002% 11/17/2012 6,195,000 6,201,195 10,070,000 Canada Housing Trust No.1 4% 06/15/2012 10,709,143 10,490,314 14,125,000 Canada Housing Trust No.1

4.1% 12/15/2018 14,576,576 14,458,090 9,105,000 Canada Housing Trust No.1

4.55% 12/15/2012 9,778,952 9,629,709 7,000,000 Canadian Hydro Developers Inc.,

5.334% 09/01/2015 7,000,000 6,666,499 10,380,000 Canadian Imperial Bank of Commerce

3.05% 06/03/2013 10,374,499 10,427,198




– 55 –

CORPORATE BONDS (51.1%) (cont’d)9,750,000 Sun Life Financial Inc., 5% 07/11/2031 9,712,676 10,095,678 5,600,000 Sun Life Financial Inc., 7.9% 03/31/2019* 5,873,859 6,388,922 1,015,000 Suncor Energy Inc. 5.8% 05/22/2018 1,065,882 1,089,821 4,110,000 TD Capital Trust 10% 06/30/2108 4,293,507 6,260,878 9,500,000 TD Capital Trust 6.792% 12/31/2049* 9,623,646 10,420,584 9,630,000 TD Capital Trust 7.243% 12/31/2018 9,831,766 11,046,170 2,440,000 Terasen Gas Inc., 6% 10/02/2037 2,485,220 2,646,677 3,000,000 Terasen Gas Inc., Callable 6.5% 05/01/2034* 3,311,768 3,454,078 6,535,000 Terasen Gas Vancouver Island Inc.,

6.05% 02/15/2038 6,535,531 6,955,525 6,875,000 Thomson Reuters Corp., 5.7% 07/15/2015 6,862,488 7,554,804 5,925,000 Toronto-Dominion Bank 4.854% 02/13/2013 5,948,751 6,280,281 1,100,000 Toronto-Dominion Bank 4.97% 10/30/2104 1,107,469 1,135,703 7,180,000 Toronto-Dominion Bank 5.141% 11/19/2012 7,214,646 7,654,961 3,400,000 Union Gas Ltd., 6.05% 09/02/2038 3,409,546 3,681,126 3,000,000 University of British Columbia

4.817% 07/26/2035 2,738,670 2,779,228 2,500,000 University of British Columbia

6.65% 12/01/2031 3,049,500 2,931,487 6,372,000 University of Ottawa 6.28% 04/15/2043 6,986,422 7,217,845

USD 8,385,000 Wells Fargo & Co., 7.98% 02/28/2049 8,303,507 8,898,110 6,200,000 Wells Fargo Financial Canada Corp.,

3.97% 11/03/2014 6,199,752 6,295,066 4,610,000 Wells Fargo Financial Canada Corp.,

4.38% 06/30/2015 4,612,868 4,739,399 10,515,000 Wilfrid Laurier University

5.429% 02/01/2045 10,647,953 10,473,359 3,150,000 Yellow Pages Income Fund 7.75% 03/02/2020 3,150,000 3,306,169 5,100,000 YPG Holdings Inc., Callable,

5.71% 04/21/2014 4,917,216 5,134,664 995,475,348 1,007,356,106

GOVERNMENT BONDS (28.3%) 51,765,000 Canadian Government Bond

1.25% 06/01/2011* 52,031,132 51,842,640 26,970,000 Canadian Government Bond 2% 09/01/2012 26,998,003 26,951,699 50,595,000 Canadian Government Bond

2% 12/01/2014* 48,838,477 48,827,283 32,420,000 Canadian Government Bond


3.5% 06/01/2020* 74,980,602 74,672,632 1,970,000 Canadian Government Bond







8% 06/01/2027* 16,244,688 16,917,684



CORPORATE BONDS (51.1%) (cont’d)10,739,000 Manufacturers Investment Corp.,

6.822% 05/31/2011 11,759,619 11,332,856 7,200,000 Manulife Financial Capital Trust

6.7% 06/30/2012 7,361,280 7,784,519 2,500,000 McGill University 6.15% 09/22/2042 2,830,850 2,821,643

14,035,000 Merrill Lynch & Co., Inc., 4.5% 01/30/2012 13,166,907 14,349,322 9,800,000 Merrill Lynch Canada Finance Co.,

5.8% 05/05/2011* 9,823,201 10,128,562 11,500,000 Merrill Lynch Financial Assets Inc.,

4.678% 03/12/2039 11,473,191 11,639,840 9,355,500 Merrill Lynch Financial Assets Inc.,

6.79% 04/15/2033 9,699,474 9,647,338 5,210,000 MetLife Global Funding I 4.5% 02/10/2011 5,180,688 5,343,190 9,580,000 Metro Inc., 5.97% 10/15/2035* 9,369,886 9,366,202 8,450,000 MI Developments Inc., 6.05% 12/22/2016 8,231,638 7,951,837 5,145,000 Molson Coors Capital Finance Co.,

Senior Notes, 5% 09/22/2015 5,169,771 5,401,472 500,000 Morgan Stanley, FRN, Floating Rate, 02/23/2012 499,115 490,180

11,293,000 N-45 First CMBS Issuer Corp., 4.636% 12/15/2019 6,851,721 7,069,714

3,625,000 National Bank of Canada 4.456% 11/02/2016 3,655,152 3,752,753

3,350,000 Noranda Operating Trust 6.529% 12/20/2010 3,502,592 3,201,126 12,116,000 Nordea Bank AB 3.95% 08/05/2015 11,953,663 12,206,246 8,800,000 Northwest Connect Group

5.95% 04/30/2041 8,841,037 8,335,922 4,930,000 Power Corp. of Canada 7.57% 04/22/2019* 4,927,239 5,773,806 8,216,000 Queen's University 6.1% 11/19/2032 8,821,702 9,104,454 8,670,000 RBC Capital Trust 7.288% 12/31/2049 8,911,123 8,795,703

11,120,000 Reliance LP 7.3% 04/03/2013 11,100,627 11,321,536 3,825,000 RioCan REIT 5.7% 09/11/2012 3,823,852 4,017,536 6,610,000 Rogers Communications Inc.,

5.8% 05/26/2016 6,623,523 7,168,178 5,000,000 Rogers Communications Inc.,

6.68% 11/04/2039 5,109,330 5,321,498 12,545,000 Royal Bank of Canada 3.27% 11/10/2014* 12,543,244 12,548,743 13,800,000 Royal Bank of Canada 3.66% 01/25/2017 13,794,894 13,638,813 7,200,000 Royal Bank of Canada 5.06% 07/17/2013 7,210,373 7,699,217 5,665,000 Royal Bank of Canada 5.2% 08/15/2012 5,888,919 6,028,968

12,250,000 Royal Bank of Scotland 1.23429% 03/30/2015 11,823,715 10,535,000

27,000,000 Royal Bank of Scotland, Callable, 5.37% 05/12/2049 23,825,409 19,440,000

8,071,966 Royal Office Finance LP 5.209% 11/12/2032 8,005,158 8,136,748 8,040,000 Scotiabank Capital Trust, Series 2002-1,

Callable, 6.626% 06/30/2052†† 7,885,773 8,692,428 8,425,000 Shaw Communications Inc.,


6.5% 06/02/2014* 9,064,565 9,997,976 6,000,000 Shaw Communications Inc.,


7.75% 10/15/2015* 7,184,788 7,539,422 3,830,000 SNC-Lavalin Group Inc., 6.19% 07/03/2019 3,830,000 4,096,590

15,999,263 Strait Crossing Development Inc., 6.17% 09/15/2031 16,461,943 15,348,413





– 56 –

*Denotes all or part of securities on loan.Percentages shown in brackets relate investments at fair value to total net assets of the Fund.The accompanying notes are an integral part of these financial statements.



1 Royal Bank of Canada A-1+ 17-Jun-10 1.06 (19,666,000) US $ 20,867,199 Canadian $ 894,580

Total Foreign Currency Forward Contracts Value 894,580



FOREIGN GOVERNMENT BONDS (4.4%) 16,725,000 African Development Bank

4.85% 07/24/2012 17,841,394 17,663,642 15,259,000 Austria Government International Bond

5.375% 12/01/2034 15,657,072 15,321,469 17,950,000 EUROFIMA 5.15% 12/13/2019 18,412,852 18,445,035 12,000,000 European Investment Bank 4.6% 01/30/2037 11,104,440 10,963,320 16,750,000 Instituto de Credito Oficial

4.53% 03/17/2016 17,141,046 16,832,963 8,335,000 Instituto de Credito Oficial 5% 03/31/2020 8,457,274 8,169,590

88,614,078 87,396,019COMMON EQUITIES (0.1%)

29,662 CIT Group Inc. 1,048,804 1,172,335

Commission and other portfolio transaction costs -

Total Equities & Bonds (93.8%) 1,837,840,955 1,848,773,176

Short Term Notes (4.8%) 95,000,000 95,000,000


Foreign Currency Forward Contracts (0.1%) (see Schedule A) 894,580


Other Assets (net) (1.3%) 24,791,362

Net Assets (100.0%) 1,969,459,118



GOVERNMENT BONDS (28.3%) (cont’d)44,885,000 Canadian Government Bond, Series XW98,

5% 06/01/2037* 52,140,295 51,730,860 20,814,000 Canadian Government Bond, Series YF56,




3.75% 06/01/2019* 73,073,404 72,669,343 561,021,329 558,225,857

PROVINCIAL BONDS (9.9%) 36,557,000 55 Ontario School Board Trust

5.9% 06/02/2033* 38,561,987 39,572,055 5,600,000 City of Montreal 6% 06/01/2043 6,460,848 6,252,301 2,000,000 City of Toronto 4.9% 10/29/2014 2,135,040 2,128,164 9,300,000 City of Toronto 5.05% 07/18/2017 9,440,806 9,826,195

16,776,792 New Brunswick F-M Project Co., Inc., Callable, 6.47% 11/30/2027 18,688,682 18,980,522

10,700,000 Province of British Columbia 4.7% 06/18/2037 10,542,496 10,658,780

18,330,000 Province of Ontario 4.4% 06/02/2019 18,944,055 18,635,559 10,750,000 Province of Ontario 4.7% 06/02/2037 10,667,129 10,617,671 4,000,000 Province of Ontario 6.5% 03/08/2029 4,821,360 4,859,385

17,612,000 Province of Quebec 4.5% 12/01/2016 17,463,292 18,421,790 600,000 Province of Quebec 5.35% 06/01/2025 625,476 633,429

8,175,000 Province of Quebec 4.5% 12/01/2018 8,469,300 8,376,441 7,965,000 Province of Quebec 4.5% 12/01/2019 8,156,160 8,085,931 8,650,000 Province of Quebec 5.75% 12/01/2036 9,482,138 9,735,816

13,035,000 Province of Quebec 6% 10/01/2029* 14,277,020 14,902,107 12,935,000 Province of Quebec, FRN,

0.515% 08/06/2011 12,945,607 12,936,713 191,681,396 194,622,859


Signature Canadian Bond FundFinancial Statements






Net assets per classClass AClass FClass IInsight Units


Class AClass FClass IInsight Units









Increase (decrease) in net assets from operations per classClass AClass FClass IInsight Units



1,848,773 1,439,2652,152 1,739

95,000 86,000- -- -- -

895 -- -- -

1,867 2,840- -- -

22,528 18,5131,971,215 1,548,357

- -- -- -- 27- -- -

1,756 1,313- -- -- -

1,756 1,3401,969,459 1,547,017

1,837,841 1,458,844- -

741,273 656,4034,126 3,924

1,217,478 878,2196,582 8,471

5.60 5.5010.57 10.3710.04 9.8310.19 9.99

132,327,297 119,261,584390,448 378,485

121,215,959 89,303,116646,200 847,784

12 2580,899 75,791

182 215- -- -- -- -

81,093 76,031

9,765 8,9951,237 1,142

- 46550 506

11,552 10,68969,541 65,342

21,422 13,643(45) (448)(20) (18)

- -

31,434 (52,642)52,791 (39,465)

122,332 25,877

41,940 5,570288 52

79,643 20,159461 96

0.33 0.050.69 0.120.75 0.220.64 0.08


2010 2009


2010 2009


Signature Canadian Bond FundFinancial Statements

– 58 –





















8,471 13,056

2,099 1,233317 393

(4,449) (5,913)- -

(2,033) (4,287)

(67) -(251) (394)

- -(317) (394)461 96

6,582 8,471

1,547,017 1,627,304

378,159 409,08188,267 64,721

(362,137) (514,796)284,811 -389,100 (40,994)

(19,794) -(69,196) (65,170)

- -(88,990) (65,170)122,332 25,877

1,969,459 1,547,017

656,403 698,462

187,348 156,33029,142 21,228

(243,497) (203,512)99,794 -72,787 (25,954)

(7,268) -(22,589) (21,675)

- -(29,857) (21,675)41,940 5,570

741,273 656,403

3,924 5,473

2,813 1,505192 167

(3,391) (3,105)498 -112 (1,433)

(45) -(153) (168)

- -(198) (168)288 52

4,126 3,924

878,219 910,313

185,899 250,01358,616 42,933

(110,800) (302,266)184,519 -318,234 (9,320)

(12,415) -(46,203) (42,933)

- -(58,618) (42,933)79,643 20,159

1,217,478 878,219


2010 2009



2010 2009


Signature Canadian Bond FundFinancial Statements – Supplementary Schedules

– 59 –




Insight UnitsBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedAcquisition of assets from terminated Funds (Note 1)Balance, end of year


2010 2009


396,305 373,126404,231 397,662


2010 2009


- -- -


2010 2009

119,261,584 123,808,55633,543,182 28,442,2275,220,070 3,874,015

(43,613,961) (36,863,214)17,916,422 -

132,327,297 119,261,584

378,485 515,131267,441 145,17218,205 16,155

(321,153) (297,973)47,470 -

390,448 378,485

89,303,116 90,427,65718,626,128 25,441,7245,862,297 4,387,285

(11,083,004) (30,953,550)18,507,422 -

121,215,959 89,303,116

847,784 1,275,168206,174 123,09131,298 39,509

(439,056) (589,984)- -

646,200 847,784

†A portion of brokerage commissions paid was used to cover research and market data services, termed soft dollar commissions.This amount has been estimated by the Manager of the Fund.The accompanying notes are an integral part of these financial statements.

Annual management fee rateClass AClass FClass IInsight Units

Annual fixed administration fee rateClass AClass FClass IInsight Units

1.350.85

Paid directly by investor0.85

0.170.17

-0.17


2010





5.60 5.505.60 5.50

10.57 10.3710.57 10.37

10.04 9.8310.05 9.83

10.19 9.9910.19 9.99


2010 2009



-

--------


2010


Signature Canadian Bond FundFund Specific Financial Instruments Risks (Note 11)




Corporate Bonds ...................................................................................................................... 52.3Government Bonds................................................................................................................... 24.7Provincial Bonds....................................................................................................................... 13.5Short Term Investments........................................................................................................... 5.6Foreign Government Bonds...................................................................................................... 2.6Other Assets ............................................................................................................................ 1.4Foreign Currency Forward Contracts ....................................................................................... -0.1

Other Price RiskAs at March 31, 2010 and 2009, the Fund did not have a significant exposure to other price risk asthe Fund was invested in fixed income securities and their market risk exposure is described below.

Credit RiskThe Fund was invested in fixed income securities, preferred securities and derivative instruments, as applicable, with the following credit ratings:


Credit Rating^ (%)AAA/Aaa/A++ 41.8AA/Aa/A+ 16.2A 22.2BBB/Baa/B++ 15.2BB/Ba/B+ 2.3Not Rated 1.0Total 98.7

– 60 –




Credit Rating^ (%)AAA/Aaa/A++ 38.3 AA/Aa/A+ 19.8 A 24.0 BBB/Baa/B++ 13.4 BB/Ba/B+ 0.8 Not Rated 2.3Total 98.6





Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 48,410 (19,971) 28,439 1.4 Total 48,410 (19,971) 28,439 1.4


Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 16 - 16 0.1 Total 16 - 16 0.1

As at March 31, 2010, had the Canadian dollar strengthened or weakened by 10% (March 31, 2009 -10%) in relation to all other foreign currencies held in the Fund, with all other variables heldconstant, net assets of the Fund would have decreased or increased, respectively, by approximately$2,844,000 (March 31, 2009 - $2,000). In practice, actual results may differ from this analysis andthe difference may be material.


Signature Canadian Bond FundFund Specific Financial Instruments Risks (Note 11)

– 61 –




(in $000's) (in $000's) (in $000's) (in $000's)

Equities - long 1,172 - - 1,172 Bonds - 1,789,366 - 1,789,366 Mortgage backed securities - 58,235 - 58,235 Short-term notes - 95,000 - 95,000 Foreign currency forward contracts - 895 - 895 Total 1,172 1,943,496 - 1,944,668









129,101 327,529 296,369 1,191,754 1,944,753



113,869 221,006 256,558 935,571 1,527,004


CORPORATE BONDS (93.4%) (cont’d)951,364 Bragg Communication Inc., Loan, Private

Placement 7.53% 08/31/2014^ 941,989 943,039 5,490,000 Brookfield Asset Management Inc.,

8.95% 06/02/2014 5,479,130 6,334,578 3,275,000 Brookfield Renewable Power

6.132% 11/30/2016 3,275,000 3,401,070 USD 2,120,000 Calfrac Holdings LP 7.75% 02/15/2015 2,163,471 2,139,397

2,135,000 Calloway REIT 10.25% 04/14/2014 2,135,000 2,475,287 3,070,000 Calloway REIT, Callable 4.51% 09/22/2010 3,042,493 3,092,186 5,275,000 Cameco Corp., 5.67% 09/02/2019 5,351,039 5,520,845 2,190,000 Canadian Hydro Developers Inc.,

5.334% 09/01/2015 2,190,000 2,085,662 3,500,000 Canadian Natural Resources Ltd.,

4.5% 01/23/2013* 3,487,129 3,666,757 4,045,000 Canadian Natural Resources Ltd.,

4.95% 06/01/2015 4,062,764 4,254,116 2,700,000 Canadian Western Bank 6.199% 12/31/2056 2,700,000 2,472,081 3,330,000 Canadian Western Bank 5.07% 03/22/2017 3,306,655 3,384,976 4,380,000 Canadian Western Bank 5.95% 06/27/2018 4,366,948 4,486,452

USD 459,817 CanWest MediaWorks Inc., 8% 09/15/2012 800,778 448,265 2,820,000 Cascades Inc., 7.75% 12/15/2016 2,782,494 2,837,482

USD 1,520,000 Cascades Inc., 7.75% 12/15/2017 1,592,299 1,555,131 USD 3,493,000 CB Richard Ellis Service 11.625% 06/15/2017 3,860,998 3,972,785

3,500,000 CCIC 2006-WEM Class F 5.248% 01/15/2022 3,499,902 2,825,095 3,540,000 CCIC 2006-WEM, MBS A2

4.934% 01/15/2022 3,202,475 3,076,156 USD 1,618,000 CCS Inc., Private Placement

11% 11/15/2015^ 1,467,415 1,347,320 USD 4,695,000 Chesapeake Energy Corp., 9.5% 02/15/2015 5,465,683 5,184,935 USD 3,973,000 Cie Gen Geophysique 9.5% 05/15/2016 4,361,712 4,316,987 USD 260,904 CIT Group Inc., 7% 05/01/2013 318,286 257,661 USD 391,357 CIT Group Inc., 7% 05/01/2014 474,893 375,563 USD 391,357 CIT Group Inc., 7% 05/01/2015 458,383 370,596 USD 652,262 CIT Group Inc., 7% 05/01/2016 734,349 611,036 USD 913,166 CIT Group Inc., 7% 05/01/2017 1,019,193 855,450




USD 3,046,875 Clarketerm, Private Placement 7.84% 06/30/2014^ 3,476,830 2,817,170

2,630,000 Commerzbank AG, FRN 4.5% 12/15/2016 2,623,793 2,359,221 USD 816,000 Comstock Resources Inc., 8.375% 10/15/2017 852,316 851,433 USD 3,426,000 Connacher Oil and Gas Ltd.,

10.25% 12/15/2015 3,475,133 3,539,975 USD 3,721,000 Connacher Oil and Gas Ltd.,

Private Placement 11.75% 07/15/2014^ 3,950,370 4,151,201 USD 2,200,000 Consol Energy Inc., 8% 04/01/2017 2,254,445 2,295,530 USD 275,000 Continental Resources Inc., 7.375% 10/01/2020 277,908 276,762 USD 1,223,000 Continental Resources Inc.,

8.25% 10/01/2019 1,324,476 1,316,469 4,480,000 Co-operators Financial Services Ltd.,


1.75125% 04/15/2010 1,913,997 1,461,497

Signature Corporate Bond FundStatement of Investment Portfolio as at March 31, 2010

– 62 – CIG - 9010


CORPORATE BONDS (93.4%) 3,500,000 407 International Inc., 4.5% 01/25/2011 3,603,075 3,592,859

USD 1,337,000 Ace Cash Express Inc., 10.25% 11/01/2014 888,501 1,126,907 2,750,000 Aeroports De Montreal 5.67% 10/16/2037 2,751,174 2,775,983 1,750,000 Aeroports De Montreal 6.55% 10/11/2033 1,747,025 1,968,457

USD 3,234,000 AES Corp., Callable 8.75% 05/15/2013 3,373,555 3,333,377 USD 7,357,000 Alliance One International Inc.,

10% 07/15/2016 8,073,689 7,807,203 USD 908,000 Alliance One International Inc., 144A,

10% 07/15/2016 963,424 963,564 1,259,931 Alliance Pipeline LP 6.765% 12/31/2025 1,453,943 1,396,622 2,557,354 Alliance Pipeline LP 7.181% 06/30/2023 2,799,935 2,900,653 1,560,000 AltaGas Income Trust 4.41% 09/01/2010 1,528,355 1,579,228 2,230,000 AltaGas Income Trust 5.07% 01/19/2012 2,229,220 2,303,668

790,000 Altalink 5.249% 09/22/2036 609,714 773,838 4,300,000 AltaLink Investments LP 5.019% 11/21/2012 4,328,630 4,449,534 2,765,000 AltaLink Investments LP 5.207% 12/16/2016 2,765,000 2,781,694 5,740,000 American Express Canada 4.7% 05/20/2011* 5,744,267 5,918,222 6,825,000 American Express Canada

4.853% 10/02/2014 6,825,000 7,059,656 USD 4,419,000 Amylin Pharmaceuticals Inc., 3% 06/15/2014 3,644,277 3,999,466 USD 5,235,000 Apria Healthcare Group Inc.,

11.25% 11/01/2014 5,779,122 5,781,285 USD 1,050,000 Apria Healthcare Group Inc.,

12.375% 11/01/2014 1,132,919 1,167,567 USD 1,979,087 Aramark Corp., Term Loan, Private Placement

7.47% 01/27/2014^ 2,341,181 1,971,239 USD 4,394,000 Ashland Inc., 9.125% 06/01/2017 4,977,062 4,997,542 USD 3,492,000 Axcan Intermediate Holdings Inc.,

9.25% 03/01/2015 3,920,697 3,829,803 USD 2,584,000 Baker & Taylor Inc., 11.5% 07/01/2013 2,265,478 1,390,743 USD 6,230,000 Bank of America Corp., Callable

8% 01/30/2049 6,132,178 6,455,162 7,000,000 Bank of Ireland 3.8% 09/22/2015 6,912,544 5,262,859 6,000,000 Bank of Montreal 5.18% 06/10/2015* 6,010,559 6,496,159 2,630,000 Bank of Montreal Capital Trust II, Callable

10.221% 12/31/2107 2,630,000 3,540,368 3,920,000 Bank of Montreal, FX/FL Subordinated

Debenture 6.17% 03/28/2023 4,349,083 4,379,905 2,630,000 Bank of Nova Scotia 5.04% 04/08/2013†† 2,594,600 2,794,627 4,780,000 Bank of Nova Scotia 6% 10/03/2018†† 4,778,566 5,214,260

GBP 1,870,000 Barclays Bank PLC 14% 06/15/2019 3,648,883 3,744,035 1,000,000 Baytex Energy Trust 9.15% 08/26/2016 1,000,000 1,090,077 2,639,000 BC Gas Inc., Callable 8% 04/19/2040 2,786,250 2,643,720

USD 4,390,000 Beatrice Foods Canada Ltd., 1% 11/19/2026 1,295,031 1,306,871 5,000,000 Bell Aliant Regional Communications LP

5.41% 09/26/2016 4,877,609 5,217,631 3,200,000 Bell Canada 4.85% 06/30/2014 3,194,944 3,365,160 1,010,000 Bell Canada 5% 02/15/2017 907,727 1,048,928

USD 380,000 Belo Corp., 8% 11/15/2016 391,179 402,289 USD 2,770,000 Biomet Inc., 10% 10/15/2017 2,964,171 3,101,250 USD 653,000 Bio-Rad Labs 8% 09/15/2016 741,917 706,222 USD 2,736,681 Blockbuster Inc., 11.75% 10/01/2014 2,751,379 2,049,579 USD 664,000 Boston Scientific Corp., 6.25% 11/15/2015 623,891 694,518 USD 2,390,000 Boston Scientific Corp., Senior Notes,

6.4% 06/15/2016 2,269,209 2,499,848

*Denotes all or part of securities on loan.^Denotes illiquid securities.††CI Investments Inc., the Manager, is a corporation controlled by CI Financial Corp. Bank of Nova Scotia has a significant interest in CI Financial Corp. Investments in Bank of Nova Scotia are identified above.Percentages shown in brackets relate investments at fair value to net assets of the Fund.The accompanying notes are an integral part of these financial statements.



– 63 –

CORPORATE BONDS (93.4%) (cont’d)USD 1,031,000 H&E Equipment Services Inc.,

8.375% 07/15/2016 1,245,198 1,012,950 2,360,000 Hamilton Utilities Corp., 6.25% 07/30/2012 2,429,620 2,546,478

USD 190,000 Hanesbrands Inc., 8% 12/15/2016 197,770 199,697 USD 1,500,000 HCA Inc., 7.875% 02/15/2020 1,607,489 1,594,654 USD 919,000 HCA Inc., 8.5% 04/15/2019 1,082,461 1,003,822 USD 6,736,000 HCA Inc., Callable, 9.125% 11/15/2014 7,264,104 7,242,257 USD 2,900,000 HealthSouth Corp., 10.75% 06/15/2016 3,295,142 3,184,216 USD 1,007,738 HealthSouth Corp., Private Placement

8.15% 03/10/2013^ 1,110,686 1,005,262 USD 829,412 HealthSouth Corp., Term Loan,

Private Placement 8.15% 03/10/2013^ 831,606 847,230 6,350,000 Holcim Finance Canada Inc.,

5.9% 06/21/2013 6,337,530 6,678,017 USD 1,372,000 Host Hotels & Resorts Inc.,

2.625% 04/15/2027 1,324,074 1,334,048 2,190,000 HSBC Bank Canada 4.94% 03/16/2021 2,192,956 2,254,526

USD 6,278,000 Hughes Network Systems LLC 9.5% 04/15/2014 6,939,944 6,550,607

USD 5,180,000 Huntsman International LLC 5.5% 06/30/2016 4,636,878 4,773,697 USD 3,773,000 Ingles Markets Inc., 8.875% 05/15/2017 4,176,394 4,003,884 USD 1,177,000 Innophos Inc., 8.875% 08/15/2014 1,263,721 1,231,097 USD 3,714,000 Intelsat Bermuda Ltd., 11.25% 06/15/2016 4,498,929 4,082,707 USD 1,300,000 Intelsat Jackson Holdings 8.5% 11/01/2019 1,340,978 1,386,153 USD 2,435,000 Intelsat Subsidiary Holding Co., Ltd.,

8.875% 01/15/2015 2,661,107 2,553,098 USD 2,430,000 Intergen NV 9% 06/30/2017 2,617,631 2,541,686 USD 2,785,000 International Lease Finance Corp.,

8.625% 09/15/2015 2,769,465 2,891,112 USD 10,695,000 International Lease Finance Corp.,

8.75% 03/15/2017 10,646,774 11,110,858 USD 5,580,000 Inverness Medical Innovations Inc.,

9% 05/15/2016 6,173,758 5,779,800 2,643,000 Iron Mountain Inc., 7.5% 03/15/2017 2,586,665 2,590,587

USD 5,240,000 Jabil Circuit Inc., 8.25% 03/15/2018 5,389,739 5,746,898 USD 1,507,000 James River Coal Co., 9.375% 06/01/2012 1,551,375 1,557,134 USD 352,000 Jarden Corp., 7.5% 01/15/2020 357,133 361,029 USD 4,538,000 JBS USA LLC, 144A, Private Placement

11.625% 05/01/2014^ 5,035,220 5,253,488 USD 2,675,000 JPMorgan Chase & Co., FRN, Callable,

7.9% 04/30/2049 2,621,687 2,896,011 USD 4,416,000 K Hovnanian Enterprises Inc.,

10.625% 10/15/2016 4,633,753 4,775,921 USD 2,728,000 Kansas City Southern de Mexico

9.375% 05/01/2012 2,917,113 2,839,531 USD 5,375,000 Kansas City Southern de Mexico SA de CV

8% 02/01/2018 5,502,927 5,594,751 USD 590,000 Kansas City Southern Railway 8% 06/01/2015 628,758 622,360

2,190,000 Kimco North Trust III 5.18% 08/16/2013 2,184,021 2,208,467 USD 1,650,000 LBI Escrow Corp., 8% 11/01/2017 1,691,163 1,738,403 USD 1,689,000 Lender Processing Services Inc.,

8.125% 07/01/2016 1,828,750 1,839,524 USD 10,621,000 Lincoln National Corp., Callable,

7% 05/17/2066 7,150,980 9,814,885 USD 3,690,000 Lincoln National Corp., Preferred,

6.05% 04/20/2067 1,492,971 3,119,529



CORPORATE BONDS (93.4%) (cont’d)USD 912,000 Cott Beverages Inc., 8.375% 11/15/2017 960,228 956,232 USD 1,868,000 Couche-Tard Finance Corp., Callable,

7.5% 12/15/2013 2,139,589 1,925,402 USD 622,000 CSC Holdings Inc., 8.5% 04/15/2014 734,402 672,695 USD 5,970,000 Denbury Resources Inc., Callable

8.25% 02/15/2020 6,502,978 6,426,265 4,080,000 Deutsche Bank AG 4.9% 08/22/2016 3,977,540 3,763,186

USD 730,000 Digicel Group Ltd., 10.5% 04/15/2018 740,185 769,112 USD 7,155,000 Digicel Group Ltd., 12% 04/01/2014 8,345,344 8,228,606 USD 959,000 Digicel Group Ltd., 8.25% 09/01/2017 998,642 964,123 USD 925,000 DJO Finance LLC / DJO Finance Corp.,

10.875% 11/15/2014 1,020,761 1,020,352 USD 279,000 DJO Finance LLC / DJO Finance Corp.,

10.875% 11/15/2014 299,804 307,760 USD 1,857,000 Dollar General Corp., 2.875% 06/30/2027 1,301,864 1,739,629 USD 654,000 Dollarama Group LP, FRN,

7.20575% 08/15/2012 746,222 665,064 USD 773,000 Domtar Corp., 10.75% 06/01/2017 823,758 953,749 USD 4,490,019 Dow Jones CDX HY, 144A, Private Placement

6.75% 06/29/2012^ 4,731,319 4,696,386 3,400,000 ERAC Canada Finance Ltd.,

5.38% 02/26/2016 3,397,688 3,418,908 3,060,000 Finning International Inc., 5.16% 09/03/2013 3,059,816 3,222,251

860,000 First Capital Realty Inc., 144A, 5.5% 09/30/2017 874,691 857,850

1,840,000 First Capital Realty Inc., 5.34% 04/01/2013 1,829,714 1,896,435 2,750,000 First Capital Realty Inc., 5.95% 06/01/2015 2,828,335 2,853,721 1,750,000 First Captial Realty Inc., 5.49% 12/01/2011 1,754,462 1,810,321 2,085,000 First Captial Realty Inc., 5.85% 01/31/2017 2,089,837 2,121,361

USD 1,385,000 First Data Corp., 9.875% 09/24/2015 1,252,992 1,213,074 USD 5,802,000 FMG Finance Pty. Ltd. 10.625% 09/01/2016 6,653,518 6,790,427 USD 1,473,000 FMG Finance Pty. Ltd., 10% 09/01/2013 1,843,709 1,609,883 USD 1,015,000 Foot Locker Inc., 8.5% 01/15/2022 1,131,968 953,424

3,200,000 France Telecom SA 5.5% 06/23/2016 3,330,560 3,376,809 USD 5,542,000 Freeport-McMoRan Copper & Gold Inc.,

8.25% 04/01/2015 6,160,035 6,127,356 USD 1,625,000 General Maritime Corp., 12% 11/15/2017 1,728,181 1,765,694 USD 4,680,000 Geokinetics Holdings Inc., 9.75% 12/15/2014 4,893,305 4,455,491

390,000 George Weston Ltd., 7.1% 02/05/2032 310,460 421,616 USD 1,648,000 Gibson Energy Ltd., 10% 01/15/2018 1,666,710 1,644,251 USD 6,347,000 Gibson Energy ULC 11.75% 05/27/2014 7,027,301 7,073,778 USD 3,502,000 Goldcorp Inc., Private Placement

2% 08/01/2014^ 3,796,956 3,956,349 USD 5,154,000 Goodyear Tire & Rubber Co.,


7.25% 02/15/2015 2,780,409 2,591,770 USD 1,809,228 Great Canadian Gaming Corp., Private

Placement 4.30375% 02/12/2014^ 1,771,812 1,800,520 2,280,000 Greater Toronto Airports Authority

5.96% 11/20/2019* 2,279,476 2,520,425 1,095,000 Greater Toronto Airports Authority,

Callable, 6.98% 10/15/2032 1,324,773 1,299,708 6,050,000 Great-West Life Capital Trust

5.995% 12/31/2052 6,378,366 6,481,105 USD 925,000 Grupo Posadas SAB de CV 9.25% 01/15/2015 975,933 979,256




– 64 –

CORPORATE BONDS (93.4%) (cont’d)USD 4,371,000 OPTI Canada Inc., Callable (USD)




8.75% 11/10/2016 2,376,301 2,423,990 USD 1,161,000 PetroQuest Energy Inc., 10.375% 05/15/2012 1,378,777 1,190,781

3,140,000 Power Corp. of Canada 8.57% 04/22/2039 3,559,900 4,151,388 USD 699,000 Province Healthcare Co., 7.5% 06/01/2013 948,829 682,149 USD 910,034 QHP Royalty Sub LLC 10.25% 03/15/2015 970,144 934,163 USD 333,000 QVC Inc., 7.125% 04/15/2017 336,496 340,274 USD 333,000 QVC Inc., 7.375% 10/15/2020 336,496 339,851 USD 131,000 Qwest Corp., 8.375% 05/01/2016 149,970 149,659 USD 2,992,000 Rathgibson Inc. 11.25% 02/15/2014 2,336,501 273,453

3,340,000 RBC Capital Trust, Callable, 5.812% 12/29/2049 3,349,946 3,593,439

USD 4,175,000 Reliance Intermediate Holdings LP, 144A, Private Placement 9.5% 12/15/2019^ 4,359,561 4,483,480

8,160,000 Reliance LP 7.3% 04/03/2013 8,096,922 8,307,889 2,860,000 RioCan REIT 4.7% 06/15/2012 2,847,073 2,940,630 2,430,000 RioCan REIT 5.7% 09/11/2012 2,429,271 2,552,317 3,205,000 Rogers Communications Inc.,

5.8% 05/26/2016 3,208,684 3,475,645 5,927,000 Rogers Wireless Inc., 7.625% 12/15/2011 6,258,279 6,449,201 5,000,000 Royal Bank of Canada 3.66% 01/25/2017 4,998,150 4,941,599 4,490,000 Royal Bank of Canada 5.06% 07/17/2013 4,498,492 4,801,318 1,505,000 Royal Bank of Canada 5.2% 08/15/2012 1,536,485 1,601,694 1,475,000 Royal Bank of Canada, FRN

0.92357% 09/27/2010 1,475,000 1,477,404 6,130,000 Royal Bank of Scotland

1.23429% 03/30/2015 5,977,503 5,271,800 7,640,000 Royal Bank of Scotland, Callable

5.37% 12/05/2049 7,216,333 5,500,800 USD 3,670,000 Sabine Pass LNG LP 7.5% 11/30/2016 3,516,772 3,288,965 USD 570,000 Salem Communications Corp

9.625% 12/15/2016 598,016 604,880 USD 4,654,000 Scientific Games Corp., 7.875% 06/15/2016 4,684,408 4,785,197 USD 380,000 Scientific Games International Inc.,

9.25% 06/15/2019 411,659 409,524 2,560,000 Scotiabank Capital Trust 6.282% 12/29/2049†† 2,598,218 2,784,801 6,100,000 Scotiabank Capital Trust, Series 2002-1,

Callable, 6.626% 06/30/2052†† 5,991,098 6,595,001 USD 3,425,000 Severstal Columbus LLC 10.25% 02/15/2018 3,667,285 3,656,327

4,800,000 Shaw Communications Inc., 5.65% 10/01/2019 4,784,784 4,946,283

3,715,000 Shaw Communications Inc., 6.5% 06/02/2014 3,764,630 4,092,835 2,750,000 Shaw Communications Inc.,

6.75% 11/09/2039 2,731,465 2,828,143 1,101,000 Shaw Communications Inc., 7.5% 11/20/2013 1,104,160 1,247,564 3,500,000 Sherritt International Corp.,



8.25% 10/24/2014 2,643,215 2,797,900



CORPORATE BONDS (93.4%) (cont’d)USD 1,975,000 Lions Gate Entertainment Inc.,

Senior Secured Notes, 10.25% 11/01/2016 1,957,189 2,053,239 3,730,000 Loblaw Cos. Ltd., 6% 03/03/2014 3,771,944 4,071,084 1,300,000 Loblaw Cos. Ltd., 6.05% 06/09/2034 1,014,239 1,272,712 1,035,000 Loblaw Cos. Ltd., 6.45% 02/09/2028 1,018,445 1,061,678 1,480,000 Loblaw Cos. Ltd., 6.54% 02/17/2033 1,487,430 1,538,823

USD 148,000 Manitowoc Company Inc., 9.5% 02/15/2018 155,410 156,681 3,625,000 Manulife Financial Capital Trust

6.7% 06/30/2012 3,855,779 3,919,289 USD 1,463,000 Maple Leaf Foods Inc., Private Placement

5.21% 12/08/2011^ 1,406,668 1,463,386 7,275,000 Merrill Lynch & Co., Inc., 4.5% 01/30/2012 6,744,554 7,437,928 3,240,000 Merrill Lynch Canada Finance Co.,


5.47% 06/12/2035 2,001,333 1,989,920 2,520,000 MetLife Global Funding I 4.5% 10/02/2011 2,533,600 2,584,422 3,240,000 Metro Inc., 5.97% 10/15/2035 3,083,423 3,167,692

USD 7,879,000 MetroPCS Wireless Inc., 9.25% 11/01/2014 8,607,842 8,181,121 USD 5,765,000 MGM Mirage Inc., 144A 10.375% 05/15/2014 6,636,634 6,454,407 USD 3,280,000 MGM Mirage Inc., 5.875% 02/27/2014 2,896,574 2,806,223 USD 783,000 MGM Mirage Inc., 7.625% 01/15/2017 655,724 661,949 USD 2,430,000 MGM Mirage Inc., 9% 03/15/2020 2,529,885 2,541,686

4,000,000 MI Developments Inc., 6.05% 12/22/2016 3,982,800 3,764,183 USD 1,760,000 Mohegan Tribal Gaming Authority

11.5% 11/01/2017 1,791,429 1,903,447 USD 1,932,000 Mohegan Tribal Gaming Authority

6.125% 02/15/2013 1,749,321 1,677,458 4,380,000 Molson Coors Capital Finance Co.,

Senior Notes, 5% 09/22/2015 4,369,094 4,598,337 4,800,000 Morgan Stanley, FRN,

Floating Rate, 02/23/2012 4,411,121 4,705,729 USD 2,974,000 MU Finance PLC 8.375% 02/01/2017 3,083,842 2,978,560 USD 9,115,000 National Money Mart Co.,

10.375% 12/15/2016 9,716,118 9,823,196 USD 6,025,000 Navios Maritime Holdings/Finance US Inc.,

8.875% 11/01/2017 6,354,793 6,332,509 USD 4,171,000 Neiman Marcus Group Inc.,

10.375% 10/15/2015 4,267,871 4,373,294 USD 850,000 New Communications Holdings Inc.,

Private Placement 8.25% 04/15/2017^ 872,699 878,278 USD 850,000 New Communications Holdings Inc.,

Private Placement 8.5% 04/15/2020^ 872,699 869,646 USD 1,762,000 Newell Rubbermaid Inc., 10.6% 04/15/2019 2,204,657 2,360,630 USD 2,500,000 NII Capital Corp., 10% 08/15/2016 2,723,490 2,779,922 USD 4,522,000 NII Holdings Inc., 3.125% 06/15/2012 4,010,905 4,333,771

4,380,000 Noranda Operating Trust 6.529% 12/20/2010 4,375,620 4,185,353 9,280,000 Nordea Bank AB 3.95% 08/05/2015 9,126,391 9,349,122

USD 4,953,000 Nortel Networks Corp., 10.75% 07/15/2016 4,876,319 4,042,665 5,448,000 North American Energy Partners Inc.,

9.125% 04/07/2017 5,448,000 5,477,116 657,000 NOVA Chemicals Corp., 7.85% 08/30/2010 637,290 663,820

USD 1,093,000 NOVA Chemicals Ltd., 6.5% 01/15/2012 1,132,366 1,137,686 1,400,000 NOVA Gas Transmission Ltd.,

8.9% 05/27/2025 1,760,500 1,829,449 USD 1,140,000 OPTI Canada Inc 9% 12/15/2012 1,157,712 1,192,396

^Denotes illiquid securities.††CI Investments Inc., the Manager, is a corporation controlled by CI Financial Corp. Bank of Nova Scotia has a significant interest in CI Financial Corp. Investments in Bank of Nova Scotia are identified above.Percentages shown in brackets relate investments at fair value to net assets of the Fund.The accompanying notes are an integral part of these financial statements.





CORPORATE BONDS (93.4%) (cont’d)USD 3,940,000 Wynn Las Vegas LLC 6.625% 12/01/2014 3,817,131 3,991,053

1,500,000 Yellow Pages Income Fund 7.75% 03/02/2020 1,500,000 1,574,366 5,580,000 YPG Holdings Inc., 5.25% 02/15/2016 5,287,130 5,351,912


3,170,000 Canadian Government Bond 3.5% 06/01/2020 3,176,836 3,126,359

6,515,000 Canadian Government Bond, Series XW98 5% 06/01/2037* 7,520,829 7,508,668

1,570,000 Canadian Government Bond, Series YR94 3.75% 06/01/2019* 1,592,810 1,592,025

12,290,475 12,227,052 REITS (0.5%)

USD 2,098,000 DuPont Fabros Technology LP 8.5% 12/15/2017 2,254,966 2,194,427

2,018 Soverign REIT 2,518,989 2,336,170 4,773,955 4,530,597

FOREIGN GOVERNMENT BONDS (0.4%) 3,915,000 Instituto de Credito Oficial 5% 03/31/2020 3,972,433 3,837,306

COMMON EQUITIES (0.3%) 22,458 CIT Group Inc. 786,945 887,610 1,283 First Capital Realty Inc. 24,621 28,303

USD 1,887,583 NOVA Chemicals Ltd., 8.625% 11/01/2019 1,957,237 1,974,339 2,768,803 2,890,252

PREFERRED SHARES (0.1%) 21,900 BCE Inc., 5.45% Preferred, Series AA 536,112 490,341

124,700 ION Media Networks Inc., 12% Preferred^ 21,057 - 4,400 Nortel Networks Corp., Preferred, Series F^ 79,992 -

637,161 490,341

Commission and other portfoliotransaction costs (657)





Other Assets (net) (2.3%) 22,184,207

Net Assets (100.0%) 961,882,287



CORPORATE BONDS (93.4%) (cont’d)USD 1,150,041 Skilled Healthcare Group Inc.,

11% 01/15/2014 1,325,997 1,229,175 1,276,000 SLM Corp., 4.625% 06/15/2011 1,095,608 1,247,947

USD 4,590,000 SLM Corp., 8% 03/25/2020 4,552,015 4,538,821 USD 6,980,000 SLM Corp., 8.45% 06/15/2018 7,208,845 7,168,687

1,945,000 SNC-Lavalin Group Inc., 6.19% 07/03/2019 1,945,000 2,080,383 USD 1,256,000 Sotheby's Holdings Inc., 7.75% 06/15/2015 1,211,675 1,296,190 USD 1,425,000 Starwood Hotels & Resort Worldwide Inc.,

7.15% 12/01/2019 1,481,759 1,465,171 USD 1,100,000 Steel Dynamics Inc., 7.625% 03/15/2020 1,126,680 1,144,972 USD 3,354,000 Steel Dynamics Inc., Senior Notes,

6.75% 04/01/2015 2,722,489 3,431,520 3,427,906 Strait Crossing Development Inc.,

6.17% 09/15/2031 3,226,470 3,288,458 1,250,000 Sun Life Financial Inc., 5% 07/11/2031 1,305,000 1,294,318 3,060,000 Sun Life Financial Inc., 7.9% 03/31/2019* 3,155,805 3,491,090 1,850,000 Suncor Energy Inc. 5.8% 05/22/2018 1,609,850 1,986,373 2,890,000 Superior Plus Corp., 8.25% 10/27/2016 2,890,000 2,996,478

USD 3,390,000 Talecris Biotherapeutics Holdings Corp., Senior Unsecured Notes, 7.75% 11/15/2016 3,532,947 3,459,746

1,600,000 TD Capital Trust 10% 06/30/2108 1,600,000 2,437,325 5,700,000 TD Capital Trust 6.792% 12/31/2049* 5,817,521 6,252,350 5,525,000 TD Capital Trust 7.243% 12/31/2018 5,491,938 6,337,496

USD 522,000 Teck Resources Ltd., 10.25% 05/15/2016 580,884 630,806 USD 11,245,000 Teck Resources Ltd., 10.75% 05/15/2019 13,144,921 13,988,591 USD 6,650,000 Teekay Corp., 8.5% 01/15/2020 7,025,737 7,056,939

3,240,000 Terasen Gas Inc., 6% 10/02/2037 3,326,346 3,514,439 1,300,000 Terasen Gas Vancouver Island Inc.,

6.05% 02/15/2038 1,363,050 1,383,655 USD 2,022,000 The Mosaic Co., 7.375% 12/01/2014 2,328,031 2,197,519 USD 527,000 The Scotts Miracle-Gro Co., 7.25% 01/15/2018 540,511 545,870

2,630,000 Thomson Reuters Corp., 5.7% 07/15/2015 2,625,213 2,890,056 4,500,000 Toronto-Dominion Bank 4.854% 02/13/2013 4,534,897 4,769,833 3,060,000 Toronto-Dominion Bank 4.97% 10/30/2104 3,031,973 3,159,319 3,850,000 Toronto-Dominion Bank 5.141% 11/19/2012 3,864,520 4,104,680

USD 826,182 Transmeridian Exploration Inc., Callable 12% 12/15/2010 800,274 1

USD 3,340,000 United States Steel Corp., 7.375% 04/01/2020 3,362,780 3,400,238

USD 2,714,000 United Surgical Partners International Inc.,8.875% 05/01/2017 2,724,112 2,859,410

USD 4,090,000 UPC Germany GmbH 8.125% 12/01/2017 4,279,030 4,283,174 USD 3,580,549 US Oncology Holdings Inc., FRN

6.64344% 03/15/2012 3,693,808 3,445,143 USD 563,000 US Oncology Inc., 9.125% 08/15/2017 607,992 597,452 USD 6,199,000 Virgin Media Finance PLC 9.5% 08/15/2016 6,823,019 6,877,356

756,000 Viterra Inc., 8% 04/08/2013 756,063 768,482 5,047,000 Viterra Inc., 8.5% 08/01/2017 5,045,515 5,356,129

USD 5,290,000 Wells Fargo & Co., 7.98% 02/28/2049 5,114,302 5,613,715 USD 1,680,000 Wells Fargo Capital 7.7% 12/29/2049 1,598,281 1,761,480


2,690,000 Wells Fargo Financial Canada Corp., 4.38% 06/30/2015 2,619,630 2,765,506

AUD 2,837,000 Western Areas Ltd., 8% 07/02/2012 2,328,107 2,719,573 USD 7,385,000 Wind Acquisition Finance SA

11.75% 07/15/2017 8,550,957 8,286,883

^Denotes illiquid securities.*Denotes all or part of securities on loan.Percentages shown in brackets relate investments at fair value to net assets of the Fund.The accompanying notes are an integral part of these financial statements.


– 66 –






1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.02 (3,577,035) Canadian $ 3,500,000 US $ (22,623)1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (5,101,000) US $ 5,387,574 Canadian $ 207,072 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (59,764,000) US $ 63,444,865 Canadian $ 2,749,030 1 Credit Suisse Group A-1 17-Jun-10 1.06 (64,668,000) US $ 68,642,172 Canadian $ 2,965,885 1 Morgan Stanley A-1 17-Jun-10 1.06 (56,914,000) US $ 60,420,472 Canadian $ 2,619,073 1 Morgan Stanley A-1 17-Jun-10 1.07 (6,404,000) US $ 6,828,969 Canadian $ 325,084 1 Morgan Stanley A-1 17-Jun-10 1.07 (8,287,000) US $ 8,898,581 Canadian $ 482,254 1 Royal Bank of Canada A-1+ 17-Jun-10 1.07 (3,400,000) US $ 3,647,826 Canadian $ 194,769 1 Royal Bank of Canada A-1+ 17-Jun-10 1.06 (42,750,000) US $ 45,361,170 Canadian $ 1,944,641 1 Royal Bank of Canada A-1+ 17-Jun-10 1.03 (9,649,000) US $ 9,890,514 Canadian $ 91,475 1 State Street Corporation A-1 17-Jun-10 1.02 (3,579,310) Canadian $ 3,500,000 US $ (24,896)1 State Street Corporation A-1 17-Jun-10 1.07 (3,400,000) US $ 3,640,210 Canadian $ 187,162 1 State Street Corporation A-1 17-Jun-10 1.06 (57,640,000) US $ 61,186,589 Canadian $ 2,647,876 1 State Street Corporation A-1 17-Jun-10 1.07 (6,404,000) US $ 6,837,711 Canadian $ 333,815 1 UBS AG A-1 08-Jun-10 1.08 (1,833,000) Australian $ 1,689,678 Canadian $ (4,850)1 UBS AG A-1 08-Jun-10 1.09 (2,638,000) Australian $ 2,422,792 Canadian $ (15,914)1 UBS AG A-1 08-Jun-10 1.74 (1,123,000) British Pound 1,953,728 Canadian $ 223,221 1 UBS AG A-1 08-Jun-10 1.09 (1,687,965) Canadian $ 1,832,000 Australian $ 5,638 1 UBS AG A-1 17-Jun-10 1.06 (57,963,000) US $ 61,533,521 Canadian $ 2,666,767 1 UBS AG A-1 17-Jun-10 1.07 (867,000) US $ 925,713 Canadian $ 45,189



Signature Corporate Bond FundFinancial Statements






Net assets per classClass AClass FClass IInsight Units











Increase (decrease) in net assets from operations per classClass AClass FClass IInsight Units



922,077 687,88916,076 1,237

- 58,000- -- -- -

17,689 148- -- -

690 1,661627 79

- -17,351 12,673

974,510 761,687

- -- -- -

68 1,354- -

12,002 763558 1,398

- -- -- -

12,628 3,515961,882 758,172

910,973 745,074- -

191,338 90,3401,861 547

763,686 661,6214,997 5,664

9.77 8.3810.15 8.7110.10 8.6810.21 8.77

19,594,280 10,777,558183,307 62,772

75,585,874 76,205,006489,191 645,535

80 17755,020 45,941

12 20- -- -- -- -

55,112 46,138

2,806 1,265327 134

1 8157 70

3,291 1,47751,821 44,661

41,922 (46,298)125 260(10) (23)

- -

87,116 (35,430)129,153 (81,491)180,974 (36,830)

27,492 (3,241)283 (37)

152,081 (33,149)1,118 (403)

1.65 (0.48)1.74 (0.51)2.04 (0.47)1.98 (0.54)


2010 2009


2010 2009


Signature Corporate Bond FundFinancial Statements

– 68 –





















5,664 8,788

870 883267 357

(2,653) (3,602)(1,516) (2,362)

- -(269) (359)

- -(269) (359)

1,118 (403)4,997 5,664

758,172 570,963

436,605 403,32951,514 44,164

(413,615) (179,231)74,504 268,262

- -(51,768) (44,223)

- -(51,768) (44,223)180,974 (36,830)961,882 758,172

90,340 58,418

133,697 52,9646,314 2,486

(59,959) (17,744)80,052 37,706

- -(6,546) (2,543)

- -(6,546) (2,543)27,492 (3,241)

191,338 90,340

547 1,202

2,445 31169 31

(1,404) (929)1,110 (587)

- -(79) (31)

- -(79) (31)283 (37)

1,861 547

661,621 502,555

299,593 349,17144,864 41,290

(349,599) (156,956)(5,142) 233,505

- -(44,874) (41,290)

- -(44,874) (41,290)152,081 (33,149)763,686 661,621


2010 2009



2010 2009


Signature Corporate Bond FundFinancial Statements – Supplementary Schedules

– 69 –




Insight UnitsBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedBalance, end of year


2010 2009


21,760 21,57022,195 22,988


2010 2009


- 15- 1


2010 2009

10,777,558 6,233,82614,478,509 6,267,230

670,017 285,118(6,331,804) (2,008,616)19,594,280 10,777,558

62,772 123,508258,407 35,443

7,077 3,338(144,949) (99,517)183,307 62,772

76,205,006 51,815,09631,027,397 37,291,7254,640,525 4,555,742

(36,287,054) (17,457,557)75,585,874 76,205,006

645,535 896,02887,815 96,94627,349 38,649

(271,508) (386,088)489,191 645,535

†A portion of brokerage commissions paid was used to cover research and market data services, termed soft dollar commissions. This amount has been estimated by the Manager of the Fund. The accompanying notes are an integral part of these financial statements.

Annual management fee rateClass AClass FClass IInsight Units

Annual fixed administration fee rateClass AClass FClass IInsight Units

1.700.85

Paid directly by investor0.95

0.200.20

-0.20


2010





9.77 8.389.77 8.38

10.15 8.7110.16 8.71

10.10 8.6810.11 8.68

10.21 8.7710.22 8.77


2010 2009



16,626

--------


2010


Signature Corporate Bond FundFund Specific Financial Instruments Risks (Note 11)




Corporate Bonds ...................................................................................................................... 88.4Short Term Investments........................................................................................................... 7.6Government Bonds................................................................................................................... 2.2Other Assets ............................................................................................................................ 1.9Preferred Shares ...................................................................................................................... 0.1Foreign Currency Forward Contracts ....................................................................................... -0.2





– 70 –









Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 482,287 (382,042) 100,245 10.4 British Pound 4,064 (1,731) 2,333 0.2 Australian Dollar 2,772 (2,459) 313 0.1 Total 489,123 (386,232) 102,891 10.7


Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 202,232 (164,729) 37,503 4.9 Australian Dollar 1,255 (1,061) 194 0.1 Total 203,487 (165,790) 37,697 5.0



Signature Corporate Bond FundFund Specific Financial Instruments Risks (Note 11)

– 71 –




(in $000's) (in $000's) (in $000's) (in $000's)

Equities - long 3,742 - - 3,742 Bonds - 908,981 1,463 910,444 Mortgage backed securities - 7,891 - 7,891 Foreign currency forward contracts - 17,621 - 17,621 Total 3,742 934,493 1,463 939,698





Long Positions/Assets:Bonds 8,111 2,000 (1,767) (7,070) (260) 449 1,463 Total 8,111 2,000 (1,767) (7,070) (260) 449 1,463









As at March 31, 2010, had the prevailing interest rates increased or decreased by 0.25% (March31, 2009 - 0.25%), with all other variables held constant, net assets of the Fund would havedecreased or increased, respectively, by approximately $9,881,000 (March 31, 2009 - $5,419,000).In practice, actual results may differ from this analysis and the difference may be material.



34,713 109,091 202,932 587,675 934,411



78,173 156,716 157,450 354,393 746,732


Schedule APurchase Forward Contract (2.0%)

Forward Purchase Agreement Fair Value $

Cash subject to forward agreement (199,000,000)

Notional Shares Underlying Trust Fair Value $

19,707,246 Signature Diversified Yield Trust 203,378,782

Total Forward Contracts Value 4,378,782

Due date 09-Dec-14Credit Rating of the Counterparty* A-1

*Credit ratings are obtained from Standard & Poor’s, where available, otherwise, ratings are obtained from: Moody's Investors Service, Dominion Bond Rating Services and Canadian Bond Rating Services.

Signature Diversified Yield FundStatement of Investment Portfolio as at March 31, 2010

– 72 – CIG - 619


Purchase Forward Contract (2.0%)(see Schedule A) - 4,378,782

Total Investments (2.0%) - 4,378,782

Other Assets (net) (98.0%) 210,866,681

Total Net Assets (100.0%) 215,245,463



Signature Diversified Yield FundFinancial Statements


AssetsInvestments at fair value*CashShort term investmentsRestricted cash (forward agreement)Margin for short salesIncome taxes recoverableDaily variation margin on derivative investmentsUnrealized gain on purchase forward contractCash collateral received for securities on loan (Note 6)Swaps, swaptions and options at fair valueReceivable for unit subscriptionsReceivable for securities soldManagement fee rebate receivableReceivable for dividends and accrued interest

LiabilitiesBank overdraftManagement fees payableAccrued expensesUnrealized loss on purchase forward contractSwaps, swaptions and options at fair valuePayable for securities purchasedPayable for unit redemptionsPayable for cash collateral under securities lending (Note 6)Spread fee payableBorrowing fee payableInvestments sold short at fair value**Distributions payable










Net investment income (loss) for the period


Realized gain (loss) on investmentsForeign exchange gain (loss)Commissions and other portfolio transaction costs†

Forward feesCapital gain distribution from investmentsChange in unrealized appreciation (depreciation)





- -7,887 -

- -199,000

- -- -- -

4,379 -- -- -

4,175 -- -- -7 -

215,448 -

- -- -- -- -- -- -

151 -- -

457- -- -

203 -215,245 -

- -- -

207,327 -7,814 -

104 -

10.00 -10.00 -9.89 -

20,739,752 -781,567 -10,539 -

- -8 -- -- -- -- -- -8 -

664 -71 -

- -37 -

772 -(764) -

4 -9 -- -

(111)- -

4,379 -4,281 -3,517 -

3,376 -141 -

- -

0.36 -0.35 -(0.01) -

Statement of Operations for the period ended March 31(in $000’s except for per unit amounts)

2010

Statement of Net Assets as at March 31(in $000’s except for per unit amounts and units outstanding)

2010

†Investment transactions of the Fund are not subject to commissions or transaction costs. The accompanying notes are an integral part of these financial statements.

Signature Diversified Yield FundFinancial Statements

– 74 –

Class ANet assets, beginning of periodCapital transactions



Increase (decrease) in net assets from operationsNet assets, end of period

Class FNet assets, beginning of periodCapital transactions




Class INet assets, beginning of periodCapital transactions




Total FundNet assets, beginning of periodCapital transactions




- -

220 -1 -

(115) -106 -

- -- -

(2) -(2) -- -

104 -

- -

219,481 -2,192 -(7,345) -

214,328 -

- -- -

(2,600) -(2,600) -3,517 -

215,245 -

- -

211,259 -2,111 -(6,942) -

206,428 -

- -- -

(2,477) -(2,477) -3,376 -

207,327 -

- -

8,002 -80 -

(288) -7,794 -

- -- -

(121) -(121) -141 -

7,814 -

Statement of Changes in Net Assets for the period ended March 31 (in $000’s)

2010


Statement of Changes in Net Assets (cont’d)for the period ended March 31 (in $000’s)

2010


Signature Diversified Yield FundFinancial Statements – Supplementary Schedules

– 75 –

Class ABalance, beginning of periodUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedBalance, end of period

Class FBalance, beginning of periodUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedBalance, end of period

Class IBalance, beginning of periodUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedBalance, end of period


2010


--

Schedule of Commissionsfor the period ended March 31 (in $000’s)

2010


--

Schedule of Fund Unit Transactions for the period ended March 31

2010

- -21,225,357 -

212,467 -(698,072) -

20,739,752 -

- -802,559 -

8,004 -(28,996) -781,567 -

- -21,996 -

151 -(11,608) -10,539 -




1.900.90


0.200.20

-

Schedule of Fees (Note 5)The maximum management and fixed administration fee expressed as a percentage of the averagenet asset value that can be charged by a class is as follow:

as at March 31 (%)

2010




10.00 -10.00 -

10.00 -10.00 -

9.89 -9.89 -


2010



-

------

3232


2010


Signature Diversified Yield FundFund Specific Financial Instruments Risks (Note 11)

The Underlying Trust’s investments were concentrated in the following segments:



Financials ................................................................................................................................ 42.2 Industrials ............................................................................................................................... 15.3 Telecommunication Services .................................................................................................. 9.6 Energy ..................................................................................................................................... 6.3 Consumer Discretionary .......................................................................................................... 4.9 Materials ................................................................................................................................. 5.2 Health Care ............................................................................................................................. 3.6 Utilities .................................................................................................................................... 3.4 Information Technology .......................................................................................................... 2.1 Consumer Staples ................................................................................................................... 1.3 Funds ....................................................................................................................................... 1.1 Private Placements ................................................................................................................. 1.8 Foreign Currency Forward Contracts ...................................................................................... 2.2 Other Assets (net) ................................................................................................................... 1.0

Other Price RiskThe Fund was exposed to the financial instrument risks of the Signature Diversified Yield Trust (the“Underlying Trust”). The Fund was created to obtain exposure to an actively managed portfolio offixed income and high-yielding equity securities issued by issuers anywhere in the world. Byentering into the Forward Agreement, the Fund eliminated the credit risk to the Counterparty of theForward Agreement in respect of any positive amount of the Forward Contract value. For details ofthe credit rating of the Counterparty to the Forward Agreement please refer to Schedule A in the“Statement of Investment Portfolio”.

As at March 31, 2010, had global markets increased or decreased by 10%, with all other variables heldconstant, net assets of the Fund would have increased or decreased, respectively, by approximately$9,518,000. In practice, actual results may differ from this analysis and the difference may be material.

– 76 –


Credit RiskAs at March 31, 2010 the Fund had no significant direct exposure to credit risk, except for credit riskrelated to the Counterparty to Forward Agreement. As at March 31, 2010, the Fund indirectly bears thecredit risk exposure of the Underlying Trust.

The Underlying Trust was invested in fixed income securities, preferred securities and derivativeinstruments, as applicable, with the following credit ratings:





Currency RiskAs at March 31, 2010, the Fund had no significant direct exposure to currency risk. As at March 31,2010, the Fund indirectly bears the currency risk exposure of the Underlying Trust.

The table below summarizes the Underlying Trust’s exposure to currency risk.


Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 169,449 (138,243) 31,206 9.6 Euro 40,694 (32,964) 7,730 2.4 Australian Dollar 36,758 (31,394) 5,364 1.7 British Pound 21,868 (18,918) 2,950 0.9 Mexican Peso 4,713 (3,835) 878 0.3 Singapore Dollar 5,468 (4,859) 609 0.2 Swiss Franc 3,260 (2,740) 520 0.2 Total 282,210 (232,953) 49,257 15.3

As at March 31, 2010, had the Canadian dollar strengthened or weakened by 10% in relation to allother foreign currencies held in the Underlying Trust, with all other variables held constant, net assetsof the Fund would have indirectly decreased or increased, respectively, by approximately $3,112,000.In practice, actual results may differ from this analysis and the difference may be material.


– 77 –

Signature Diversified Yield FundFund Specific Financial Instruments Risks (Note 11)

Interest Rate RiskAs at March 31, 2010, Fund had no significant direct interest rate risk exposure. As at March 31,2010, the Fund indirectly bears the interest rate risk exposure of the Underlying Trust.

The table below summarizes the Underlying Trust's exposure to interest rate risk, categorized by thecontractual maturity date.



As at March 31, 2010, had the prevailing interest rates increased or decreased by 0.25%, with allother variables held constant, net assets of the Fund would have decreased or increased,respectively, by approximately $1,304,000. In practice, the actual results may differ from thisanalysis and the difference may be material.



(in $000's) (in $000's) (in $000's) (in $000's)

Purchase Forward Agreement - 4,379 - 4,379 Total - 4,379 - 4,379





17,114 1,460 25,965 131,494 176,033

FINANCIALS (54.7%) (cont’d)196,200 Canadian Imperial Bank of Commerce 12,856,996 14,546,268 666,400 Canadian Imperial Bank of Commerce,

4.7% Preferred, Series 31* 16,660,000 12,681,592 431,200 Canadian Imperial Bank of Commerce,

4.8% Preferred, Series 30, Class A 10,905,048 8,352,344 4,011,100 China Construction Bank Corp., Class H 3,277,717 3,326,071

114,500 Credit Suisse Group 5,421,422 5,989,105 329,600 E-L Financial Corp. Ltd., 4.75% Preferred,

Series 2, 10/17/2011 8,240,000 5,827,328 270,000 E-L Financial Corp., Ltd., 5.30% Preferred,

Series 1, 10/17/2009* 6,752,957 5,270,400 384,609 Genworth MI Canada Inc.* 7,314,847 10,530,594 176,200 Gluskin Sheff & Associates Inc. 3,601,528 3,895,782 218,400 Great-West Lifeco Inc., 4.5% Preferred,

Series I* 5,034,058 3,998,904 425,000 Great-West Lifeco Inc., 4.85% Preferred,

Series H 10,343,359 8,393,750 84,500 Great-West Lifeco Inc., 5.2% Preferred,

Series G 2,113,142 1,779,570 313,700 HSBC Bank Canada, 5% Preferred, Series D* 7,842,500 6,430,850 651,100 HSBC Bank Canada, 5.1% Preferred,

Series 5* 16,277,500 13,354,061 491,400 HSBC Holdings PLC 4,027,227 5,059,810 418,900 Industrial Alliance Insurance and Financial Inc.,

4.6% Preferred* 10,472,500 7,900,454 375,500 JPMorgan Chase & Co. 15,560,140 17,060,209

USD 2,076,000 Lincoln National Corp., Callable 7% 05/17/2066 1,869,465 1,918,435

USD 2,250,000 Lincoln National Corp., Preferred 6.05% 04/20/2067 1,843,980 1,902,152

85,500 Macquarie Group Ltd. 3,803,791 3,760,448 1,057,600 Manulife Financial Corp. 20,422,450 21,120,272

578,900 Manulife Financial Corp., 4.65% Preferred, Series 2, Class A* 14,524,505 10,813,852

121,700 MetLife Inc. 5,324,800 5,353,742 7,450,000 MI Developments Inc., 6.05% 12/22/2016 7,417,965 7,010,791 2,470,000 Morgan Stanley, FRN,

Floating Rate, 02/23/2012 2,465,628 2,421,490 66,200 National Bank of Canada 3,916,379 4,093,146

239,400 National Bank of Canada, 4.85% Preferred, Series 16 6,102,306 4,843,062

334,200 National Bank of Canada, 5.375% Preferred, Series 21* 8,355,000 8,956,560

82,900 Power Financial Corp., 4.7% Preferred, Series J* 2,168,664 2,134,675

467,100 Power Financial Corp., 4.95% Preferred, Series K* 11,651,612 9,412,065

582,300 Power Financial Corp., 5.1% Preferred, Series L* 14,557,500 12,053,610

103,000 Power Financial Corp., 5.9% Preferred, Series F* 2,592,607 2,492,600

334,800 Power Financial Corp., 6% Preferred, Series M* 8,370,000 9,273,960

335,800 Premium Income Corp., 5.75% Preferred 5,391,283 5,110,876 647,100 Prudential PLC 3,897,332 5,446,113 765,000 Royal Bank of Canada 42,426,749 45,341,550

Signature Dividend FundStatement of Investment Portfolio as at March 31, 2010

– 78 – CIG - 610


FINANCIALS (54.7%) 315,056 5Banc Split Inc., 4.75 % Preferred, Series B 3,197,609 3,223,023

1,931,600 Aberdeen Asset Management PLC 3,632,267 3,870,644 951,500 Banco Santander Brasil SA 12,775,296 12,010,424 416,100 Banco Santander Central Hispano SA 7,003,903 5,613,454

3,235,900 Bank of America Corp. 48,903,888 58,524,462 USD 10,012,000 Bank of America Corp., Callable

8% 01/30/2049 6,736,641 10,373,849 352,700 Bank of Montreal 4.5% Preferred, Series 13* 8,817,500 6,852,961 500,900 Bank of Montreal 5.2% Preferred,

Series 16* 12,522,500 13,148,625 661,200 Bank of Montreal 5.25% Preferred* 16,405,908 14,400,936 334,000 Bank of Montreal 5.4% Preferred, Series 23 8,350,000 9,058,080 524,300 Bank of Montreal 5.95% Preferred,

Series 10 (USD)* 17,667,539 13,763,181 129,400 Bank of Nova Scotia†† 5,630,326 6,572,226 673,600 Bank of Nova Scotia 4.5% Preferred,

Series 14*†† 16,840,000 13,034,160 334,200 Bank of Nova Scotia 5% Preferred,

Series 20*†† 8,355,000 8,692,542 621,200 Bank of Nova Scotia 5.25% Preferred*†† 15,530,000 13,827,912 386,700 Bank of Nova Scotia 5.6% Preferred,

Series 17†† 9,667,500 9,288,534 205,800 Bank of Nova Scotia, 4.8% Preferred,

Series 13†† 5,035,868 4,177,740 1,474,200 Barclays PLC* 8,076,930 8,186,213

421,000 Brookfield Asset Management Inc., 4.75% Preferred* 10,440,800 7,228,570

166,000 Brookfield Asset Management Inc., 5.4% Preferred, Series 24* 4,150,000 4,199,800

369,200 Brookfield Asset Management Inc., Class A 8,042,940 9,529,052

22,200 Brookfield Asset Management Inc., Preferred, Series 11* 600,635 568,320

519,700 Brookfield Asset Management Inc., Preferred, Series 12* 13,109,554 13,330,305

865,800 Brookfield Asset Management Inc., Preferred, Series 2 17,662,320 15,480,504

238,700 Brookfield Asset Management Inc., Preferred, Series 4* 5,611,882 4,263,182

503,200 Brookfield Financial Corp., Preferred, Series 13 11,930,967 8,972,056

239,790 Brookfield Properties Corp. (USD) 2,522,428 3,740,251 559,800 Brookfield Properties Corp., 5.2% Preferred,

Series I* 13,995,000 14,190,930 511,900 Brookfield Properties Corp., 5.2%

Preferred, Series K* 12,797,500 12,132,030 348,000 Brookfield Properties Corp., 5.25%

Preferred, Series G (USD)* 12,033,376 8,693,462 660,600 Brookfield Properties Corp., 5.75%

Preferred, Series H* 16,532,048 16,257,366 606,100 Brookfield Properties Corp., 6%

Preferred, Series F 15,849,515 15,334,330 82,500 Canada Life Financial Corp., 6.25%

Preferred, Series B 2,078,045 2,055,900 214,000 Canadian General Investment Ltd., 3.9%

Preferred, Series 3 5,402,434 5,435,600




– 79 –

UTILITIES (5.4%) 248,000 Brookfield Renewable Power Fund,Preferred,

Series I 6,200,000 6,232,240 1,151,600 Energias de Portugal SA 4,586,139 4,649,371

414,700 Fortis Inc., 4.9% Preferred* 10,367,500 8,542,820 249,000 Fortis Inc., 5.45% Preferred, Series C* 6,586,050 6,506,370 671,400 Fortis Inc., Callable/Convertible, 4.9%

Preferred, Series E* 16,824,682 18,738,774 57,900 FPL Group Inc. 2,840,503 2,841,671

153,100 Gaz de France 6,579,639 6,005,754 534,500 Iberdrola SA 4,656,806 4,599,655 64,700 PG&E Corp. 2,843,459 2,787,105

1,971,751 Snam Rete Gas SpA 9,010,183 10,129,923 449,200 TransAlta Corp.* 15,795,641 10,048,604

86,290,602 81,082,287HEALTH CARE (4.8%)

641,000 Eli Lilly and Co. 26,227,683 23,576,802 378,700 Johnson & Johnson 25,822,127 25,073,867 304,200 Merck & Co., Ltd. 11,685,912 11,528,672 77,600 Roche Holding AG 13,236,169 12,774,985

76,971,891 72,954,326CONSUMER STAPLES (3.6%)

180,538 British American Tobacco PLC* 6,342,316 6,319,874 286,221 Diageo PLC 6,388,878 4,875,132 240,500 Loblaw Cos. Ltd., 5.95% Preferred, Series A 5,291,000 6,589,700 323,900 Nestle SA, Registered Shares 11,960,964 16,832,903 60,500 PepsiCo Inc. 3,765,386 4,064,707 68,500 Procter & Gamble Co. 4,476,175 4,401,852

371,900 Unilever NV* 11,418,344 11,425,613 49,643,063 54,509,781

INDUSTRIALS (3.4%) 120,600 Bombardier Inc., Preferred, Class B 2,142,805 1,923,570 213,800 Ingersoll-Rand PLC 7,381,794 7,564,222 180,000 Parker-Hannifin Corp. 10,976,973 11,833,784 99,136 Schneider Electric SA* 11,119,336 11,808,737

161,500 Union Pacific Corp. 10,954,519 12,021,397 60,300 WW Grainger Inc.* 5,808,449 6,620,667

48,383,876 51,772,377MATERIALS (1.6%)

223,100 BHP Billiton PLC 7,335,407 7,771,961 120,440 Cameco Corp. 4,134,278 3,344,619 227,300 CRH PLC (Dublin Listed) 6,254,672 5,731,222 92,600 Praxair Inc. 7,685,006 7,804,903

25,409,363 24,652,705INFORMATION TECHNOLOGY (1.4%)

703,200 Microsoft Corp. 17,789,734 20,894,482



FINANCIALS (54.7%) (cont’d)397,000 Royal Bank of Canada 4.45% Preferred,

Series AA* 9,914,347 7,495,360 168,800 Royal Bank of Canada 4.5% Series AG* 3,828,384 3,207,200 397,100 Royal Bank of Canada 4.6% Preferred,

Series AC 9,927,500 7,703,740 665,400 Royal Bank of Canada 4.7% Preferred,

Series AB* 16,635,000 13,274,730 5,000,000 Royal Bank of Scotland, Callable

5.37% 05/12/2049 4,701,950 3,600,000 63,000 Sun Life Financial Inc. 1,818,267 2,054,430

496,700 Sun Life Financial Inc., 4.45% Preferred, Series 4* 11,949,112 8,900,864

458,200 Sun Life Financial Inc., 4.75% Preferred, Series 1, Class A* 11,244,400 8,705,800

113,500 TMX Group Inc. 3,338,363 3,383,435 927,900 Toronto-Dominion Bank 56,224,509 70,214,193 248,800 Toronto-Dominion Bank 5% Preferred,

Series S* 6,220,000 6,518,560 629,900 Toronto-Dominion Bank, 4.85% Preferred,

Series O* 15,824,746 13,164,910 290,600 Toronto-Dominion Bank, 5% Preferred.,

Series AA* 7,265,000 7,613,720 196,500 Toronto-Dominion Bank, 5.25% Preferred,

Series P* 4,716,000 4,460,550 75,300 Toronto-Dominion Bank, Class A, Preferred,

Series R* 1,876,815 1,784,610 364,800 Wells Fargo & Co. 9,625,838 11,513,683

USD 1,865,000 Wells Fargo Capital 7.7% 12/29/2049 1,774,282 1,955,453 858,595,589 829,438,353

TELECOMMUNICATION SERVICES (11.3%) 409,600 AT&T Inc.* 14,909,153 10,748,080 566,700 BCE Inc. 17,305,743 16,876,326

1,012,400 BCE Inc., 4.4% Preferred, Series AF 16* 25,542,852 22,293,048 313,100 BCE Inc., 4.486% Preferred, Series 18,

Class H* 7,874,465 6,734,781 62,500 BCE Inc., 5.45% Preferred, Series AA 1,530,000 1,399,375

898,200 BCE Inc., 5.55% Preferred, Series 19* 23,404,481 19,490,940 975,100 BCE Inc., Preferred, Series AB* 25,548,464 21,452,200 318,618 France Telecom SA* 7,934,663 7,743,080 798,253 Manitoba Telecom Services Inc.* 28,781,363 25,464,271 919,177 TELUS Corp., Non-Voting Shares 36,347,357 33,393,700

2,522,700 Vodafone Group PLC 7,946,108 5,910,603 197,124,649 171,506,404

ENERGY (7.5%) 334,700 ARC Energy Trust* 7,428,719 6,854,656 212,800 Canadian Oil Sands Trust 6,074,051 6,477,632 281,700 Crescent Point Energy Corp.* 11,145,038 10,977,849 371,100 CU Inc., 4.6%, Series 1 9,277,500 7,240,161 525,000 Imperial Oil Ltd. 20,665,839 20,595,750 108,930 Nexen Inc. 2,943,273 2,734,143 294,400 Spectra Energy Corp. 6,889,662 6,735,618 459,136 Suncor Energy Inc. 16,315,215 15,146,897 643,300 Talisman Energy Inc. 9,531,389 11,154,822 573,200 TransCanada Corp.* 19,518,316 21,334,504 165,000 TransCanada Corp., 4%, Preferred, Series 3 4,125,000 4,125,000

113,914,002 113,377,032




– 80 –



CONSUMER DISCRETIONARY (1.4%) 470,500 Koninklijke Philips Electronics NV* 10,534,453 15,319,730 789,900 Tesco PLC 6,161,718 5,299,483

16,696,171 20,619,213



Short Term Notes (2.0%) 30,000,000 30,000,000




Other Assets (net) (1.6%) 24,438,372

Net Assets (100.0%) 1,515,374,305


*Denotes all or part of securities on loan.††CI Investments Inc., the Manager, is a corporation controlled by CI Financial Corp. Bank of Nova Scotia has a significant interest in CI Financial Corp. Transactions with Bank of Nova Scotia are identified above.Percentages shown in brackets relate investments at fair value to net assets of the Fund.The accompanying notes are an integral part of these financial statements.




1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.51 (10,877,000) Euro 16,377,597 Canadian $ 1,454,035 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.38 (20,818,000) Euro 28,688,911 Canadian $ 128,634 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.57 (5,339,000) Euro 8,358,290 Canadian $ 1,032,710 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (15,334,000) US $ 16,195,464 Canadian $ 622,474 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (37,586,000) US $ 39,900,922 Canadian $ 1,728,884 1 Credit Suisse Group A-1 17-Jun-10 1.06 (40,670,000) US $ 43,169,375 Canadian $ 1,865,258 1 Morgan Stanley A-1 08-Jun-10 1.56 (9,560,000) Euro 14,949,742 Canadian $ 1,832,593 1 Morgan Stanley A-1 17-Jun-10 1.06 (35,794,000) US $ 37,999,268 Canadian $ 1,647,171 1 Royal Bank of Canada A-1+ 17-Jun-10 1.06 (26,886,000) US $ 28,528,197 Canadian $ 1,223,009 1 Royal Bank of Canada A-1+ 17-Jun-10 1.07 (5,500,000) US $ 5,900,895 Canadian $ 315,068 1 State Street Corporation A-1 17-Jun-10 1.06 (36,250,000) US $ 38,480,463 Canadian $ 1,665,259 1 State Street Corporation A-1 17-Jun-10 1.07 (5,500,000) US $ 5,888,575 Canadian $ 302,762 1 UBS AG A-1 08-Jun-10 1.09 (840,000) Australian $ 771,473 Canadian $ (5,067)1 UBS AG A-1 08-Jun-10 1.08 (857,000) Australian $ 789,991 Canadian $ (2,268)1 UBS AG A-1 08-Jun-10 1.74 (19,368,000) British Pound 33,695,284 Canadian $ 3,849,816 1 UBS AG A-1 08-Jun-10 1.04 (10,064,000) Swiss Franc 10,492,733 Canadian $ 791,502 1 UBS AG A-1 17-Jun-10 1.06 (36,453,000) US $ 38,698,505 Canadian $ 1,677,133



Signature Dividend FundFinancial Statements






Net assets per classClass AClass FClass IClass XClass YClass Z


Class AClass FClass IClass XClass YClass Z









Increase (decrease) in net assets from operations per classClass AClass FClass IClass XClass YClass Z



1,440,807 1,029,2963,267 3,642

30,000 78,000- -- -- -

20,136 6,334- -- -

9,044 1,43311,052 6,296

- -4,774 4,090

1,519,080 1,129,091

- -- -- -7 7,157- -

939 -2,760 2,416

- -- -- -

3,706 9,5731,515,374 1,119,518

1,489,379 1,402,791- -

881,698 639,7509,823 6,184

254,524 159,519241,974 209,135

23 25127,332 104,905

11.91 8.889.54 7.129.92 7.42

10.01 7.479.72 7.26

10.06 7.50

74,007,914 72,026,0731,029,404 868,073

25,650,318 21,502,67824,175,158 28,013,612

2,377 3,44212,656,939 13,993,937

60,030 66,5412,742 4,414

234 506- -- -- -

(1,775) (2,402)61,231 69,059

16,082 17,0872,359 2,511

2 28921 979

19,364 20,60541,867 48,454

61,276 (150,710)326 (2,943)

(2,161) (1,927)- -

345,876 (253,072)405,317 (408,652)447,184 (360,198)

253,234 (209,430)2,635 (2,069)

70,847 (41,145)80,056 (71,778)

10 (23)40,402 (35,753)

3.49 (2.74)2.82 (2.19)3.04 (2.11)3.07 (2.27)3.21 (2.93)3.03 (2.32)


2010 2009


2010 2009



– 82 –













Class XNet assets, beginning of yearCapital transactions




Class YNet assets, beginning of yearCapital transactions








209,135 359,635

26,608 28,60110,240 14,157(72,269) (105,169)(35,421) (62,411)

- -(6,731) (14,167)(5,065) (2,144)

(11,796) (16,311)80,056 (71,778)

241,974 209,135

25 106

- -1 4

(11) (58)(10) (54)

- -(1) (4)(1) -(2) (4)10 (23)23 25

104,905 172,402

12,133 12,1915,146 6,829

(29,689) (43,341)(12,410) (24,321)

- -(3,167) (6,442)(2,398) (981)(5,565) (7,423)40,402 (35,753)

127,332 104,905

639,750 1,009,871

209,048 129,42732,314 39,656

(217,911) (287,115)23,451 (118,032)

- -(19,415) (36,890)(15,322) (5,769)(34,737) (42,659)253,234 (209,430)881,698 639,750

6,184 9,789

4,597 2,771359 389

(3,535) (4,221)1,421 (1,061)

- -(231) (410)(186) (65)(417) (475)

2,635 (2,069)9,823 6,184

159,519 188,514

70,610 48,47313,697 12,785(46,452) (36,323)37,855 24,935

- -(7,673) (10,722)(6,024) (2,063)

(13,697) (12,785)70,847 (41,145)

254,524 159,519


2010 2009



2010 2009


– 83 –






1,119,518 1,740,317

322,996 221,46361,757 73,820

(369,867) (476,227)14,886 (180,944)

- -(37,218) (68,635)(28,996) (11,022)(66,214) (79,657)447,184 (360,198)

1,515,374 1,119,518


2010 2009



Signature Dividend FundFinancial Statements – Supplementary Schedules

– 84 –




Class XBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedBalance, end of year

Class YBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedBalance, end of year

Class ZBalance, beginning of yearUnits issued for cash Units issued for reinvested distributions (Note 7)Units redeemedBalance, end of year


2010 2009

72,026,073 82,761,66918,730,958 12,623,6222,922,345 3,924,073

(19,671,462) (27,283,291)74,007,914 72,026,073

868,073 998,156520,635 329,49440,410 47,869

(399,714) (507,446)1,029,404 868,073

21,502,678 18,453,2387,576,670 5,601,3651,484,075 1,513,438(4,913,105) (4,065,363)25,650,318 21,502,678

28,013,612 35,044,5382,854,972 3,251,6231,105,345 1,655,114(7,798,771) (11,937,663)24,175,158 28,013,612

3,442 10,366- -

141 537(1,206) (7,461)2,377 3,442

13,993,937 16,745,4641,289,135 1,373,572

552,395 798,231(3,178,528) (4,923,330)12,656,939 13,993,937





Class XNet assets per unitNet asset value per unit

Class YNet assets per unitNet asset value per unit


11.91 8.8811.93 8.92

9.54 7.129.56 7.16

9.92 7.429.94 7.45

10.01 7.4710.03 7.50

9.72 7.269.73 7.29

10.06 7.5010.08 7.53


2010 2009


Annual management fee rateClass AClass FClass IClass XClass YClass Z

Annual fixed administration fee rateClass AClass FClass IClass XClass YClass Z

1.501.00

Paid directly by investor1.000.751.30

0.200.20

-0.200.200.20


2010

– 85 –

Signature Dividend FundFinancial Statements – Supplementary Schedules


2010 2009


142,772 100,195146,588 106,783


2010 2009


2,134 1,892166 142




95,886

--------


2010


Signature Dividend FundFund Specific Financial Instruments Risks (Note 11)




Financials ................................................................................................................................. 60.3Telecommunication Services ................................................................................................... 9.5Short Term Investments........................................................................................................... 7.0Energy ...................................................................................................................................... 5.0Consumer Staples.................................................................................................................... 4.6Utilities..................................................................................................................................... 4.0Materials.................................................................................................................................. 3.7Health Care .............................................................................................................................. 1.9Information Technology ........................................................................................................... 1.8Other Assets ............................................................................................................................ 1.2Industrials ................................................................................................................................ 0.7Consumer Discretionary........................................................................................................... 0.4Foreign Currency Forward Contracts ....................................................................................... -0.1

Other Price RiskAs at March 31, 2010 and 2009, the Fund was invested in Canadian equities and preferred sharesand therefore was sensitive to changes in general economic conditions in Canada, however someof the Fund’s assets were invested in fixed income securities and their market risk exposure isdescribed below.




Credit Rating^ (%)AAA/Aaa/A++ 1.7AA/Aa/A+ 2.8A 20.9BBB/Baa/B++ 11.8BB/Ba/B+ 6.5B 0.1Not Rated 0.4Total 44.2

– 86 –




Credit Rating^ (%)AAA/Aaa/A++ 0.1AA/Aa/A+ 4.5A 30.1BBB/Baa/B++ 10.8BB/Ba/B+ 4.4B 0.1Not Rated 7.5Total 57.5





Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 311,252 (243,693) 67,559 4.5 Swiss Franc 35,597 (9,695) 25,902 1.7 British Pound 53,004 (29,854) 23,150 1.5 Euro 84,150 (63,919) 20,231 1.3 Hong Kong Dollar 3,326 - 3,326 0.2 Australian Dollar 3,760 (1,581) 2,179 0.1 Total 491,089 (348,742) 142,347 9.3


Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 135,131 (99,029) 36,102 3.2British Pound 45,394 (24,950) 20,444 1.8Australian Dollar 14,879 (9,255) 5,624 0.5Euro 17,421 (12,995) 4,426 0.4Swiss Franc 14,086 (11,669) 2,417 0.2Total 226,911 (157,898) 69,013 6.1



Signature Dividend FundFund Specific Financial Instruments Risks (Note 11)

– 87 –




(in $000's) (in $000's) (in $000's) (in $000's)

Equities - long 1,411,625 - - 1,411,625 Bonds - 29,182 - 29,182 Short-term notes - 30,000 - 30,000 Foreign currency forward contracts - 20,129 - 20,129 Total 1,411,625 79,311 - 1,490,936






As at March 31, 2010, had the prevailing interest rates increased or decreased by 0.25% (March 31, 2009 - 0.25%), with all other variables held constant, net assets of the Fund would have decreased or increased, respectively, by approximately $265,000 (March 31, 2009 - $142,000).In practice, the actual results may differ from this analysis and the difference may be material.



33,267 2,421 - 26,761 62,449



85,370 1,938 - 18,371 105,679


CORPORATE BONDS (42.6%) (cont’d)USD 18,369,003 Clarketerm, Private Placement,

7.84% 06/30/2014^ 20,961,118 16,984,155 USD 2,301,000 Comstock Resources Inc.,



Private Placement 11.75% 07/15/2014^ 7,733,072 8,016,804 USD 3,410,000 Consol Energy Inc., 8% 04/01/2017 3,494,390 3,558,071 USD 730,000 Continental Resources Inc.,

7.375% 10/01/2020 737,719 734,678 USD 3,459,000 Continental Resources Inc.,


1.75125% 04/15/2010 12,038,491 8,862,170 USD 1,062,000 Cott Beverages Inc., 8.375% 11/15/2017 1,118,185 1,113,507 USD 8,746,000 Couche-Tard Finance Corp., Callable,

7.5% 12/15/2013 10,671,834 9,014,755 USD 1,110,000 CSC Holdings Inc., 8.5% 04/15/2014 1,297,541 1,200,469 USD 15,643,000 Denbury Resources Inc., Callable,

8.25% 02/15/2020 17,038,650 16,838,536 USD 1,135,000 Digicel Group Ltd., 10.5% 04/15/2018 1,150,836 1,195,811 USD 6,808,000 Digicel Group Ltd., 12% 04/01/2014 7,950,592 7,829,539 USD 1,501,000 Digicel Group Ltd., 8.25% 09/01/2017 1,563,042 1,509,018 USD 2,480,000 DJO Finance LLC / DJO Finance Corp.,

10.875% 11/15/2014 2,736,742 2,735,646 USD 744,000 DJO Finance LLC / DJO Finance Corp.,

10.875% 11/15/2014 799,476 820,694 USD 3,116,000 Dollar General Corp., 2.875% 06/30/2027 2,109,696 2,919,055 USD 6,578,000 Dollarama Group LP, FRN,

7.20575% 08/15/2012 7,522,045 6,689,288 USD 2,419,000 Domtar Corp., 10.75% 06/01/2017 2,578,023 2,984,630 USD 13,544,997 Dow Jones CDX HY, 144A,

Private Placement 6.75% 06/29/2012^ 14,678,413 14,167,544 7,784,000 First Capital Realty Inc., 144A,

5.5% 09/30/2017 7,947,118 7,764,540 USD 7,254,000 First Data Corp., 9.875% 09/24/2015 6,656,615 6,353,530 USD 14,453,000 FMG Finance Pty. Ltd.,

10.625% 09/01/2016 17,802,214 16,915,209 USD 11,264,000 FMG Finance Pty. Ltd., 10% 09/01/2013 14,286,544 12,310,742 USD 7,374,000 Foot Locker Inc., 8.5% 01/15/2022 8,355,860 6,926,651 USD 17,002,000 Freeport-McMoRan Copper & Gold Inc.,

8.25% 04/01/2015 18,823,480 18,797,782 USD 3,852,000 General Maritime Corp., 12% 11/15/2017 4,100,988 4,185,511 USD 7,510,000 Geokinetics Holdings Inc.,

9.75% 12/15/2014 7,848,013 7,149,730 USD 4,736,000 Gibson Energy Ltd., 10% 01/15/2018 4,791,443 4,725,227 USD 19,032,000 Gibson Energy ULC 11.75% 05/27/2014 21,074,097 21,211,305 USD 9,877,000 Goldcorp Inc., Private Placement,

2% 08/01/2014^ 10,711,317 11,158,440 USD 12,367,000 Goodyear Tire & Rubber Co.,


7.25% 02/15/2015 13,564,285 11,959,543

Signature High Income FundStatement of Investment Portfolio as at March 31, 2010

– 88 – CIG - 686



CORPORATE BONDS (42.6%) USD 6,170,000 Ace Cash Express Inc., 10.25% 10/01/2014 7,009,797 5,200,459 USD 19,884,000 AES Corp., Callable 8.75% 05/15/2013 20,696,189 20,495,014 USD 13,286,000 Alliance One International Inc.,

10% 07/15/2016 14,638,818 14,099,021 USD 2,550,000 Alliance One International Inc., 144A,

10% 07/15/2016 2,705,707 2,706,044 USD 10,469,000 Amylin Pharmaceuticals Inc.,

3% 06/15/2014 8,661,879 9,475,086 USD 14,503,000 Apria Healthcare Group Inc.,

11.25% 11/01/2014 16,071,941 16,016,423 USD 1,402,000 Apria Healthcare Group Inc.,

12.375% 11/01/2014 1,512,894 1,558,980 USD 11,598,132 Aramark Corp., Term Loan,

Private Placement 7.47% 01/27/2014^ 13,720,131 11,552,140 USD 9,501,000 Ashland Inc., 9.125% 06/01/2017 10,750,275 10,806,020 USD 8,386,000 Axcan Intermediate Holdings Inc.,

9.25% 03/01/2015 8,288,388 9,197,230 USD 10,142,000 Baker & Taylor Inc., 11.5% 07/01/2013 12,039,483 5,458,558

450,000 Bank of Montreal, FX/FL Subordinated Debenture, 6.17% 03/28/2023 497,826 502,795

GBP 9,760,000 Barclays Bank PLC 14% 06/15/2019 18,457,126 19,541,062 2,251,000 Baytex Energy Trust 9.15% 08/26/2016 2,251,078 2,453,764

USD 11,915,000 Beatrice Foods Canada Ltd., 1% 11/19/2026 3,514,755 3,547,010

USD 591,000 Belo Corp., 8% 11/15/2016 608,439 625,665 USD 14,194,000 Biomet Inc., 10% 10/15/2017 14,239,516 15,891,388 USD 2,541,000 Bio-Rad Labs 8% 09/15/2016 2,886,999 2,748,101 USD 4,604,703 Blockbuster Inc., 11.75% 10/01/2014 4,628,466 3,448,594 USD 4,440,000 Boston Scientific Corp., 6.25% 11/15/2015 4,123,134 4,644,068 USD 6,769,000 Boston Scientific Corp., Senior Notes,

6.4% 06/15/2016 6,416,826 7,080,113 14,625,000 Bragg Communication Inc., Loan,

Private Placement 7.53% 08/31/2014^ 14,625,000 14,497,031 USD 3,160,000 Calfrac Holdings LP 7.75% 02/15/2015 3,228,605 3,188,913

6,580,000 Calloway REIT 10.25% 04/14/2014 6,580,000 7,628,755 USD 4,194,745 CanWest MediaWorks Inc.,

8% 09/15/2012 5,017,066 4,089,359 4,377,000 Cascades Inc., 7.75% 12/15/2016 4,318,798 4,404,134

USD 2,362,000 Cascades Inc., 7.75% 12/15/2017 2,474,377 2,416,592 USD 7,493,000 CB Richard Ellis Service,

11.625% 06/15/2017 8,366,664 8,522,209 5,000,000 CCIC 2006-WEM Class F,

5.248% 01/15/2022 4,999,860 4,035,850 USD 8,699,000 CCS Inc., Private Placement,

11% 11/15/2015^ 7,891,459 7,243,719 USD 5,905,000 Chesapeake Energy Corp., 9.5% 02/15/2015 6,973,811 6,521,201 USD 400,000 Chesapeake Energy Corp., Senior Notes,

6.5% 08/15/2017 390,018 392,997 USD 6,383,000 Cie Gen Geophysique 9.5% 05/15/2016 6,990,539 6,935,648 USD 567,213 CIT Group Inc., 7% 05/01/2013 702,255 560,163 USD 850,820 CIT Group Inc., 7% 05/01/2014 1,047,789 816,484 USD 850,820 CIT Group Inc., 7% 05/01/2015 1,011,361 805,684 USD 1,418,034 CIT Group Inc., 7% 05/01/2016 1,620,244 1,328,408 USD 1,985,248 CIT Group Inc., 7% 05/01/2017 2,248,713 1,859,771

^Denotes illiquid securities.Percentages shown in brackets relate investments at fair value to net assets of the Fund.The accompanying notes are an integral part of these financial statements.


– 89 –


CORPORATE BONDS (42.6%) (cont’d)USD 3,453,000 Lions Gate Entertainment Inc.,

Senior Secured Notes, 10.25% 11/01/2016 3,444,770 3,589,789 USD 397,000 Manitowoc Company Inc., 9.5% 02/15/2018 416,877 420,286 USD 4,836,000 Maple Leaf Foods Inc.,

Private Placement 5.21% 12/08/2011^ 4,649,856 4,837,277 USD 6,467,000 MetroPCS Wireless Inc.,

9.25% 11/01/2014* 6,994,722 6,714,978 USD 8,388,000 MGM Mirage Inc., 144A,

10.375% 05/15/2014 9,484,714 9,391,078 USD 14,957,000 MGM Mirage Inc., 5.875% 02/27/2014 13,672,864 12,796,548 USD 3,373,000 MGM Mirage Inc., 7.625% 01/15/2017 2,824,723 2,851,537 USD 6,030,000 MGM Mirage Inc., 9% 03/15/2020 6,277,862 6,307,147 USD 305,000 MGM Mirage Inc., Senior Notes,

6.625% 07/15/2015 239,423 256,299 USD 2,731,000 Mohegan Tribal Gaming Authorit,

11.5% 11/01/2017 2,779,786 2,953,587 USD 12,641,000 Mohegan Tribal Gaming Authority,

6.125% 02/15/2013 11,433,741 10,975,542 4,580,000 Molson Coors Capital Finance Co.,

Senior Notes, 5% 09/22/2015 4,512,017 4,808,307 USD 7,973,000 MU Finance PLC 8.375% 02/01/2017 8,267,491 7,985,226 USD 16,590,000 National Money Mart Co.,

10.375% 12/15/2016 17,793,445 17,878,971 6,860,000 NAV Canada 4.428% 02/24/2011 6,860,000 7,058,189

USD 10,429,000 Navios Maritime Holdings/Finance US Inc., 8.875% 11/01/2017 11,016,463 10,961,284

USD 15,205,000 Neiman Marcus Group Inc., 10.375% 10/15/2015 16,994,078 15,942,444



USD 5,798,000 Newell Rubbermaid Inc., 10.6% 04/15/2019 7,233,526 7,767,839 USD 5,676,000 NII Capital Corp., 10% 08/15/2016 6,152,909 6,311,534 USD 10,353,000 NII Holdings Inc., 3.125% 06/15/2012 9,177,816 9,922,054 USD 17,957,000 Nortel Networks Corp., 10.75% 07/15/2016 17,524,413 14,656,598

14,590,000 North American Energy Partners Inc., 9.125% 04/07/2017 14,590,000 14,667,973

400,000 NOVA Chemicals Corp., 7.85% 08/30/2010 388,000 404,152

USD 3,293,000 NOVA Chemicals Ltd., 6.5% 01/15/2012 3,415,909 3,427,631 USD 4,978,583 NOVA Chemicals Ltd., 8.625% 11/01/2019 5,159,804 5,207,406 USD 1,920,000 OPTI Canada Inc 9% 12/15/2012 1,949,830 2,008,246 USD 21,131,000 OPTI Canada Inc., Callable (USD),




8.75% 11/10/2016* 6,355,212 6,629,613 USD 6,384,000 PetroQuest Energy Inc.,

10.375% 05/15/2012 7,788,262 6,547,759 USD 4,069,000 Province Healthcare Co., 7.5% 06/01/2013 5,557,487 3,970,905 USD 1,414,863 QHP Royalty Sub LLC 10.25% 03/15/2015 1,508,335 1,452,378

CORPORATE BONDS (42.6%) (cont’d)USD 5,174,496 Great Canadian Gaming Corp.,

Private Placement 4.30375% 02/12/2014^ 5,547,202 5,149,588 USD 1,441,000 Grupo Posadas SAB de CV 9.25% 01/15/2015 1,515,798 1,525,522 USD 7,436,000 H&E Equipment Services Inc.,

8.375% 07/15/2016 9,243,761 7,305,817 USD 295,000 Hanesbrands Inc., 8% 12/15/2016 307,063 310,056 USD 640,000 HCA Inc., 6.5% 02/15/2016 599,350 616,609 USD 10,150,000 HCA Inc., 7.25% 09/15/2020 10,425,755 10,449,014 USD 3,108,000 HCA Inc., 8.5% 04/15/2019 3,660,815 3,394,864 USD 10,318,000 HCA Inc., Callable, 9.125% 11/15/2014 11,342,800 11,093,469 USD 8,128,000 HealthSouth Corp., 10.75% 06/15/2016 9,148,434 8,924,589 USD 2,712,912 HealthSouth Corp., Private Placement,

8.15% 03/10/2013^ 3,485,016 2,706,245 USD 2,232,844 HealthSouth Corp., Term Loan,

Private Placement 8.15% 03/10/2013^ 2,238,749 2,280,811 USD 9,696,000 Host Hotels & Resorts Inc.,

2.625% 04/15/2027 9,365,225 9,427,788 USD 15,341,000 Hughes Network Systems LLC,

9.5% 04/15/2014 17,225,971 16,007,147 USD 11,218,000 Huntsman International LLC,

5.5% 06/30/2016 9,993,970 10,338,094 USD 6,080,000 Ingles Markets Inc., 8.875% 05/15/2017 6,781,726 6,452,058 USD 3,561,000 Innophos Inc., 8.875% 08/15/2014 4,027,987 3,724,668 USD 21,308,000 Intelsat Bermuda Ltd., 11.25% 06/15/2016 26,267,294 23,423,350 USD 2,515,000 Intelsat Jackson Holdings 8.5% 11/01/2019 2,587,262 2,681,672 USD 15,519,000 Intergen NV 9% 06/30/2017 16,795,944 16,232,275 USD 4,310,000 International Lease Finance Corp.,

8.625% 09/15/2015 4,285,959 4,474,217 USD 21,025,000 International Lease Finance Corp.,

8.75% 03/15/2017 21,071,339 21,842,523 USD 7,571,000 Inverness Medical Innovations Inc.,

9% 05/15/2016 8,498,119 7,842,090 21,015,000 Iron Mountain Inc., 7.5% 03/15/2017 20,766,576 20,598,254

USD 18,691,000 Jabil Circuit Inc., 8.25% 03/15/2018 19,032,429 20,499,096 USD 6,947,000 James River Coal Co., 9.375% 06/01/2012 7,129,226 7,178,110 USD 941,000 Jarden Corp., 7.5% 01/15/2020 954,723 965,138 USD 10,949,000 JBS USA LLC, 144A, Private Placement,

11.625% 05/01/2014^ 12,461,144 12,675,285 USD 43,970,000 JPMorgan Chase & Co., FRN Callable,

7.9% 04/30/2049 40,470,470 47,602,836 USD 8,859,000 K Hovnanian Enterprises Inc.,

10.625% 10/15/2016 9,290,357 9,581,042 USD 4,529,000 Kansas City Southern de Mexico SA de CV,

9.375% 05/01/2012 4,765,539 4,714,163 USD 9,240,000 Kansas City Southern de Mexico SA de CV,

8% 02/01/2018 9,462,353 9,617,767 USD 1,532,000 Kansas City Southern Railway,

8% 06/01/2015 1,631,682 1,616,026 USD 2,560,000 LBI Escrow Corp., 8% 11/01/2017 2,623,865 2,697,159 USD 1,571,000 Lender Processing Services Inc.,

8.125% 07/01/2016 1,713,541 1,711,007 USD 7,945,000 Lincoln National Corp., Callable,

7% 05/17/2066 4,197,315 7,341,989 USD 13,706,000 Lincoln National Corp., Preferred,

6.05% 04/20/2067 6,950,129 11,587,064





– 90 –


CORPORATE BONDS (42.6%) (cont’d)USD 6,165,000 United States Steel Corp.,

7.375% 04/01/2020 6,211,887 6,276,187 USD 8,855,000 United Surgical Partners International Inc.,

8.875% 05/01/2017 9,057,171 9,329,430 USD 6,338,000 UPC Germany GmbH 8.125% 12/01/2017 6,630,979 6,637,348 USD 17,879,275 US Oncology Holdings Inc., FRN,

6.64344% 03/15/2012 18,708,238 17,203,133 USD 7,469,000 Virgin Media Finance PLC,

9.5% 08/15/2016 8,129,559 8,286,332 8,173,000 Viterra Inc., 8% 04/08/2013 8,185,003 8,307,941

13,766,000 Viterra Inc., 8.5% 08/01/2017 13,755,667 14,609,168 USD 30,000,000 Wells Fargo & Co., 7.98% 02/28/2049 22,097,772 31,835,815 USD 37,000,000 Wells Fargo Capital 7.7% 12/29/2049 32,887,988 38,794,504 AUD 11,145,000 Western Areas Ltd., 8% 07/02/2012 9,354,962 10,683,693 USD 6,177,000 Wind Acquisition Finance SA,

11.75% 07/15/2017 7,296,695 6,931,358 USD 11,025,000 Wynn Las Vegas LLC 6.625% 12/01/2014 10,241,744 11,167,859

2,875,000 YPG Holdings Inc., 5.25% 02/15/2016 2,842,782 2,757,481 3,650,000 YPG Holdings Inc., 6.5% 07/10/2013* 3,640,912 3,795,040

1,546,191,454 1,522,125,924 COMMON EQUITIES (28.6%)

1,674,695 Abertis Infraestructuras SA 36,542,252 32,738,053 1,307,500 Atlantia SpA 32,698,968 30,851,224 2,097,300 BCE Inc. 58,473,790 62,457,594 1,352,700 BR Malls Participacoes SA 16,845,376 16,206,661 2,189,200 Brookfield Asset Management Inc., Class A* 45,238,047 56,503,252 1,089,380 Brookfield Properties Corp. (USD) 11,715,167 16,992,177 1,373,530 Brookfield Renewable Power Fund 20,329,496 28,830,395

312,800 Canadian National Railway Co. 16,585,093 19,227,816 682,500 Capital Power Corp.* 13,170,475 15,288,000 48,824 CIT Group Inc. 1,736,289 1,929,677

796,600 Crescent Point Energy Corp.* 12,867,647 31,043,502 135,935 Enbridge Energy Partners LP 5,531,177 6,969,716 411,600 Enbridge Inc.* 17,008,640 19,937,904

1,321,400 Ferrovial SA 16,489,665 13,033,632 1,192,700 First Capital Realty Inc.* 21,672,024 26,310,962

85,130 First Capital Realty Inc., Warrants (29Oct10) - 378,828 1,719,100 Fort Chicago Energy Partners LP 19,198,763 18,531,898

754,312 France Telecom SA* 18,327,560 18,331,349 1,645,500 Groupe Aeroplan Inc. 17,931,584 17,524,575

761,530 IESI-BFC Ltd.* 16,347,165 13,273,468 7,104,530 Inter Pipeline Fund LP 60,790,594 84,117,635 3,859,123 International Public Partnership Ltd. 7,388,665 6,799,195

318,360 Invesco Mortgage Capital Inc. 7,230,928 7,432,517 1,741,430 Kimco Realty Corp. 24,162,779 27,658,027

499,612 KKR Private Equity Investors LP 13,721,796 5,753,397 12,018,365 Macquarie Airports 33,613,034 34,604,720 2,292,000 MacQuarie Atlas Roads Group 1,699,610 1,996,906

21,729,000 Macquarie Infrastructure Group 31,703,244 22,575,953 1,144,200 Manitoba Telecom Services Inc.* 37,406,999 36,499,980 1,010,200 Otelco Inc. 18,688,140 16,413,673

389,500 PG&E Corp. 17,119,493 16,778,632 7,642,819 Prime Infrastructure Group 34,669,264 25,638,201

CORPORATE BONDS (42.6%) (cont’d)USD 893,000 QVC Inc., 7.125% 04/15/2017 902,376 912,506 USD 893,000 QVC Inc., 7.375% 10/15/2020 902,376 911,373 USD 490,000 Qwest Corp., 8.375% 05/01/2016 560,955 559,792 USD 7,540,000 Rathgibson Inc. 11.25% 02/15/2014 8,845,421 689,116

3,500,000 RBC Capital Trust 4.87% 12/31/2050 3,491,880 3,606,090 2,920,000 RBC Capital Trust 7.288% 12/31/2049 2,964,530 2,962,336

USD 13,674,000 Reliance Intermediate Holdings LP, 144A, Private Placement, 9.5% 12/15/2019^ 14,327,700 14,684,338

390,000 Reliance LP 7.3% 04/03/2013 390,566 397,068 16,986,000 Rogers Wireless Inc., 7.625% 12/15/2011 17,247,680 18,482,559

300,000 Royal Bank of Canada 5.2% 08/15/2012 323,127 319,275 9,900,000 Royal Bank of Scotland,


5.37% 05/12/2049 6,112,535 4,680,000 USD 20,340,000 Sabine Pass LNG LP 7.5% 11/30/2016 20,086,988 18,228,213 USD 886,000 Salem Communications Corp.,

9.625% 12/15/2016 929,591 940,218 USD 9,796,000 Scientific Games Corp., 7.875% 06/15/2016 9,898,475 10,072,151 USD 591,000 Scientific Games International Inc.,

9.25% 06/15/2019 640,277 636,918 USD 8,980,000 Severstal Columbus LLC 10.25% 02/15/2018 9,618,291 9,586,515

6,969,000 Shaw Communications Inc., 7.5% 11/20/2013 7,053,865 7,896,706

5,605,000 Sherritt International Corp., 7.875% 11/26/2012 5,673,152 5,833,404

21,904,000 Sherritt International Corp., 8.25% 10/24/2014* 21,877,660 23,178,970

USD 5,997,046 Skilled Healthcare Group Inc., 11% 01/15/2014 7,301,572 6,409,703

4,594,000 SLM Corp., 4.625% 06/15/2011 3,948,437 4,493,001 USD 6,935,000 SLM Corp., 8% 03/25/2020 6,877,602 6,857,674 USD 15,460,000 SLM Corp., 8.45% 06/15/2018 15,962,679 15,877,923 USD 4,823,000 Sotheby's Holdings Inc., 7.75% 06/15/2015 4,870,032 4,977,328

2,069,000 Speciality Foods Corp., 7.25% 12/14/2011^ 7,499,800 2,069,000 USD 2,215,000 Starwood Hotels & Resort Worldwide Inc.,

7.15% 12/01/2019 2,303,252 2,277,441 USD 3,000,000 Steel Dynamics Inc., 7.625% 03/15/2020 3,072,763 3,122,652 USD 6,045,000 Steel Dynamics Inc., Senior Notes,

6.75% 04/01/2015 4,649,766 6,184,716 400,000 Suncor Energy Inc. 5.8% 05/22/2018 422,156 429,486

USD 500,000 Sungard Data Systems Inc., Callable, 10.25% 08/15/2015 534,347 533,770

6,193,000 Superior Plus Corp., 8.25% 10/27/2016 6,193,028 6,421,173 USD 5,662,000 Talecris Biotherapeutics Holdings Corp.,

Senior Unsecured Notes, 7.75% 11/15/2016 5,894,262 5,778,490

USD 2,113,000 Teck Resources Ltd., 10.25% 05/15/2016 2,351,460 2,553,435 USD 26,332,000 Teck Resources Ltd., 10.75% 05/15/2019 30,768,342 32,756,565 USD 12,455,000 Teekay Corp., 8.5% 01/15/2020 12,980,437 13,217,169 USD 8,305,000 The Mosaic Co., 7.375% 12/01/2014 9,643,316 9,025,913 USD 1,413,000 The Scotts Miracle-Gro Co.,

7.25% 01/15/2018 1,449,226 1,463,594 USD 6,153,186 Transmeridian Exploration Inc., Callable,

12% 12/15/2010 5,960,808 6






– 91 –

PREFERRED SHARES (0.1%) 24,000 Bombardier Inc., Preferred, Class B 283,200 382,800 40,000 Great-West Lifeco Inc.,

4.5% Preferred, Series I 832,000 732,400 721,600 ION Media Networks Inc., 12% Preferred^ 121,715 1

1,408,200 Nortel Networks Corp., Preferred, Series 7, Class A^ 23,815,691 141

1,465,000 Nortel Networks Corp., Preferred, Series F ^ 25,705,183 146

40,000 Power Financial Corp., 4.95% Preferred, Series K 864,000 806,000


520,000 Canadian Government Bond, Series YF56, 4% 06/01/2017* 552,760 542,840



Short Term Notes (5.3%) 191,000,000 191,000,000



Swap Contracts (-0.1%) (see Schedule B) (100,093)


Other Assets (net) (1.3%) 42,632,434

Net Assets (100.0%) 3,575,196,964


COMMON EQUITIES (28.6%) (cont’d)514,443 Progress Energy Resources Corp.* 8,017,163 6,029,272 45,000 Royal Bank of Canada 4.5% Series AG 930,150 855,000

4,901,211 Snam Rete Gas SpA 22,552,495 25,180,102 411,000 Spectra Energy Corp. 9,716,714 9,403,325

1,334,100 TELUS Corp., Non-Voting Shares* 40,907,092 48,467,853 3,706,686 Terna SpA* 15,794,723 16,287,146 1,056,600 TransAlta Corp.* 36,857,148 23,636,142

632,200 TransCanada Corp.* 22,803,962 23,530,484 7,419,600 Transurban Group* 39,172,155 34,430,340

165,197 Unibail* 31,189,273 33,970,821 6,220,800 Westfield Group 69,947,841 69,907,701

984,792,440 1,024,327,705 REITS (8.9%)

2,339,940 Allied Properties REIT 34,111,372 47,500,782 638,609 Artis REIT 7,983,804 7,407,864 153,908 Boardwalk REIT 5,199,948 6,187,102

2,248,560 Canadian REIT 47,797,656 62,172,684 2,993,240 Chartwell Seniors Housing REIT 18,370,522 21,700,990 2,766,180 Cominar REIT 33,432,563 53,110,656

191,700 Cypress Sharprigde Investments Inc., REIT 2,347,913 2,600,800 683,300 Digital Realty Trust Inc. 36,335,517 37,601,831

USD 4,468,000 DuPont Fabros Technology LP, 8.5% 12/15/2017 4,807,753 4,673,355

1,939,400 H&R REIT 29,449,592 32,232,828 505,900 Primaris Retail REIT 3,269,262 8,499,120

1,248,243 RioCan REIT* 19,190,419 23,067,531 11,110 Soverign REIT 13,869,534 12,861,669

256,165,855 319,617,212 INCOME TRUSTS (6.5%)

373,641 AltaGas Income Trust 7,431,846 6,874,994 1,623,870 Altus Group Income Fund 28,462,452 22,815,374 1,392,644 Bell Aliant Regional Communications

Income Fund 43,055,507 35,387,084 941,000 Canadian Oil Sands Trust 22,949,136 28,644,040

2,585,600 CML Healthcare Income Fund 33,103,592 32,733,696 693,600 Davis & Henderson Income Fund 10,360,501 12,283,656 272,800 Labrador Iron Ore Royalty Income Fund 5,021,909 14,594,800

1,903,980 Pembina Pipeline Income Fund 25,843,400 33,148,292 895,700 Pengrowth Energy Trust (CAD) 9,335,407 10,497,604


ROYALTY TRUSTS (4.9%) 2,333,600 ARC Energy Trust* 42,430,218 47,792,128 1,393,200 Bonavista Energy Trust 33,113,913 32,531,220

848,900 Enerplus Resources Fund 29,026,006 20,390,578 1,962,120 Northland Power Income Fund 23,629,215 25,821,499 1,417,359 Vermilion Energy Trust* 27,444,626 50,032,773

155,643,978 176,568,198





– 92 –





Settlement Contract UnrealizedContracts Counterparty Credit Rating* Date Rate ($) Pay Receive Gain (Loss) ($)

1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.02 (10,373,402) Canadian $ 10,150,000 US $ (65,607)1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.38 (8,266,000) Euro 11,391,226 Canadian $ 51,075 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.57 (11,112,000) Euro 17,396,014 Canadian $ 2,149,368 1 Bank of Nova Scotia†† A-1+ 08-Jun-10 1.51 (22,716,000) Euro 34,203,686 Canadian $ 3,036,670 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (179,908,000) US $ 190,988,534 Canadian $ 8,275,426 1 Bank of Nova Scotia†† A-1+ 17-Jun-10 1.06 (7,639,000) US $ 8,068,159 Canadian $ 310,100 1 Credit Suisse Group A-1 17-Jun-10 1.06 (194,671,000) US $ 206,634,506 Canadian $ 8,928,245 1 Morgan Stanley A-1 08-Jun-10 1.50 (13,432,000) Euro 20,213,414 Canadian $ 1,784,328 1 Morgan Stanley A-1 08-Jun-10 1.56 (19,900,000) Euro 31,119,232 Canadian $ 3,814,708 1 Morgan Stanley A-1 17-Jun-10 1.07 (15,643,000) US $ 16,681,069 Canadian $ 794,079 1 Morgan Stanley A-1 17-Jun-10 1.06 (171,332,000) US $ 181,887,765 Canadian $ 7,884,369 1 Morgan Stanley A-1 17-Jun-10 1.07 (26,621,000) US $ 28,585,630 Canadian $ 1,549,183 1 Royal Bank of Canada A-1+ 17-Jun-10 1.06 (128,688,000) US $ 136,548,263 Canadian $ 5,853,848 1 Royal Bank of Canada A-1+ 17-Jun-10 1.07 (16,300,000) US $ 17,488,107 Canadian $ 933,747 1 Royal Bank of Canada A-1+ 17-Jun-10 1.03 (7,221,000) US $ 7,401,742 Canadian $ 68,457 1 State Street Corporation A-1 17-Jun-10 1.02 (10,379,999) Canadian $ 10,150,000 US $ (72,197)1 State Street Corporation A-1 17-Jun-10 1.07 (15,643,000) US $ 16,702,422 Canadian $ 815,407 1 State Street Corporation A-1 17-Jun-10 1.07 (16,300,000) US $ 17,451,595 Canadian $ 897,277 1 State Street Corporation A-1 17-Jun-10 1.06 (173,514,000) US $ 184,190,316 Canadian $ 7,970,915 1 USB AG A-1 08-Jun-10 1.08 (43,717,000) Australian $ 40,298,768 Canadian $ (115,675)1 USB AG A-1 08-Jun-10 1.09 (48,388,000) Australian $ 44,440,507 Canadian $ (291,907)1 USB AG A-1 08-Jun-10 1.74 (9,989,000) British Pound 17,378,263 Canadian $ 1,985,534 1 USB AG A-1 17-Jun-10 1.06 (174,485,000) US $ 185,233,276 Canadian $ 8,027,721 1 USB AG A-1 17-Jun-10 1.07 (3,081,000) US $ 3,289,645 Canadian $ 160,585



Schedule BSwap Contracts (-0.1%)

No. Contracts Notional (Local) Market Price ($) Due Date Credit Rating Cost ($) Fair Value ($)

410,690 (98,566) Signature DVD TOTL RTN WPZ Swap Index Leg 40.31 22-Apr-10 A-1 16,911,608 16,811,515

Total Swap Contracts Value (100,093)

Signature High Income FundFinancial Statements




















3,276,919 1,895,09330,478 29,231

191,000 443,000- -- -- -

65,291 2,868- -- -

10,227 4,56910,706 26,587

- -43,142 34,611

3,627,763 2,435,959

- -- -- -

545 11,867100 -

47,035 12,9464,886 2,926

- -- -- -

52,566 27,7393,575,197 2,408,220

3,210,628 2,395,035- -

1,949,109 1,382,34752,014 26,538

1,574,074 999,335

12.83 10.1311.68 9.2211.67 9.23

151,938,432 136,501,9974,453,151 2,877,041

134,848,851 108,264,786

37,945 27,775154,956 193,398

675 1,103(59) 1,760

- -- -

(4,747) (2,663)188,770 221,373

21,429 21,6033,460 3,479

13 151,244 1,252

26,146 26,349162,624 195,024

117,794 (445,604)(2,666) 11,442(2,180) (2,155)

- -

639,878 (454,227)752,826 (890,544)915,450 (695,520)

498,917 (404,236)11,374 (6,544)

405,159 (284,740)

3.52 (2.92)3.13 (2.56)3.32 (2.51)


2010 2009


2010 2009


Signature High Income FundFinancial Statements

– 94 –

















999,335 1,459,260

280,331 379,552117,603 106,600(110,701) (554,725)287,233 (68,573)

- -(79,065) (88,197)(38,588) (18,415)

(117,653) (106,612)405,159 (284,740)

1,574,074 999,335

2,408,220 3,493,019

879,968 767,183224,616 209,203(611,181) (1,140,531)493,403 (164,145)

- -(162,570) (187,090)(79,306) (38,044)

(241,876) (225,134)915,450 (695,520)

3,575,197 2,408,220

1,382,347 2,001,541

572,321 372,576104,814 101,033(488,152) (572,165)188,983 (98,556)

- -(81,426) (97,131)(39,712) (19,271)

(121,138) (116,402)498,917 (404,236)

1,949,109 1,382,347

26,538 32,218

27,316 15,0552,199 1,570

(12,328) (13,641)17,187 2,984

- -(2,079) (1,762)(1,006) (358)(3,085) (2,120)11,374 (6,544)52,014 26,538


2010 2009



2010 2009


Signature High Income FundFinancial Statements – Supplementary Schedules

– 95 –





2010 2009


308,769 101,046319,752 107,691


2010 2009


2,122 2,102165 157


2010 2009

136,501,997 143,951,60447,291,198 31,342,5948,775,873 8,447,109

(40,630,636) (47,239,310)151,938,432 136,501,997

2,877,041 2,543,8072,512,819 1,405,105

200,721 144,733(1,137,430) (1,216,604)4,453,151 2,877,041

108,264,786 115,036,80425,841,794 33,205,84510,793,427 9,678,059(10,051,156) (49,655,922)134,848,851 108,264,786




1.250.75


0.200.20

-


2010




12.83 10.1312.84 10.14

11.68 9.2211.69 9.24

11.67 9.2311.68 9.25


2010 2009



330,889

--------


2010


Signature High Income FundFund Specific Financial Instruments Risks (Note 11)




Corporate Bonds ...................................................................................................................... 47.5Short Term Investments........................................................................................................... 18.4Royalty Trusts........................................................................................................................... 9.5Common Equities ..................................................................................................................... 9.2REITs......................................................................................................................................... 6.3Income Trusts ........................................................................................................................... 5.9Other Assets ............................................................................................................................ 3.3Government Bonds................................................................................................................... 0.2Preferred Shares ...................................................................................................................... 0.1Swap Contracts........................................................................................................................ -0.1Foreign Currency Forward Contracts ....................................................................................... -0.3


As at March 31, 2010, had the Canadian markets increased or decreased by 10% (March 31, 2009 -10%), with all other variables held constant, net assets of the Fund would have increasedor decreased, respectively, by approximately $174,958,000 (March 31, 2009 - $74,423,000). In practice, actual results may differ from this analysis and the difference may be material.




– 96 –









Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 1,472,914 (1,128,063) 344,851 9.6 Australian Dollar 200,043 (85,826) 114,217 3.2 Euro 170,392 (103,472) 66,920 1.9 Brazilian Real 16,207 - 16,207 0.5 British Pound 28,157 (15,397) 12,760 0.4 Total 1,887,713 (1,332,758) 554,955 15.6


Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 1,065,176 (803,887) 261,289 10.8 Australian Dollar 61,672 (38,742) 22,930 1.0 Euro 17,651 (8,510) 9,141 0.4 Total 1,144,499 (851,139) 293,360 12.2



Signature High Income FundFund Specific Financial Instruments Risks (Note 11)

– 97 –




(in $000's) (in $000's) (in $000's) (in $000's)

Equities - long 1,749,198 - - 1,749,198 Bonds - 1,516,400 6,906 1,523,306 Mortgage backed securities - 4,036 - 4,036 Short-term notes - 191,000 - 191,000 Warrants 379 - - 379 Foreign currency forward contracts - 64,746 - 64,746 Swaps - (100) - (100)Total 1,749,577 1,776,082 6,906 3,532,565





Long Positions:Bonds 21,507 5,277 (1,108) (20,598) (545) 2,373 6,906 Total 21,507 5,277 (1,108) (20,598) (545) 2,373 6,906

*Change in unrealized gain (loss) related to investments held at March 31, 2010 was ($216,585).











237,802 138,628 410,062 962,328 1,748,820



538,164 266,335 265,957 552,416 1,622,872


Signature Mortgage FundStatement of Investment Portfolio as at March 31, 2010

– 98 – CIG - 9002



Principal Amortized/ FairNo. Balance ($) Average Cost ($) Value ($)

No. of Shares/ Average FairFace Amount Cost ($) Value ($)

MORTGAGESNHA Insured ( 0.1%)

1 36,802 36,802 38,298

Total NHA Insured 1 36,802 36,802 38,298

UninsuredConventional (0.3%)

1 144,623 144,623 154,727

Total Unnsured Conventional 1 144,623 144,623 154,727

Total Mortgages (0.4%) 2 181,425 181,425 193,025

BONDS, ASSET-BACKED & MORTGAGE-BACKED SECURITIES (86.9%) 100,000 Canada Housing Trust No.1, FRN,

Series 12, 0.435% 09/15/2010 100,507 100,030 1,000,000 Canada Mortgage Pool #96502885

4.15% 10/01/2014 566,970 587,183 1,134,000 Canada Mortgage Pool #96502943

4.2% 03/01/2016 1,040,325 1,028,958 4,700,000 Canada Mortgage Pool #96503545





4% 08/01/2013 1,957,360 2,030,024 3,000,000 Canada Mortgage Pool #99009839

2.65% 11/01/2014 2,911,985 2,886,109 4,000,000 Falcon Trust, Commercial Mortgage

5.057% 01/15/2021 3,788,809 3,837,305 1,000,000 Falcon Trust, Commercial Mortgage,

Series B, 5.057% 01/15/2021 971,060 992,857 5,000,000 Merrill Lynch Financial Assets Inc.,





5.635% 03/12/2036 1,000,110 982,871 6,590,000 N-45 First CMBS Issuer Corp.,

4.968% 11/01/2020 2,955,234 3,001,499 5,000,000 Solar Trust 4.65% 05/12/2016 1,041,739 1,065,632


Total Mortgages, Bonds, Asset-Backed & Mortgage-Backed securities (87.3%) 41,370,394 41,852,019

Short Term Notes (10.4%) 5,000,000 5,000,000



Net Assets (100.0%) 47,961,965

Signature Mortgage FundFinancial Statements






Net assets per classClass AClass F


Class AClass F


Class AClass F







Increase (decrease) in net assets from operations per classClass AClass F


Class AClass F

41,852 46,976837 563

5,000 2,000- -- -- -- -- -- -

164 32- -- -

148 16448,001 49,735

- -- -

15 15- -- -- -

24 67- -- -- -

39 8247,962 49,653

41,370 46,681- -

47,899 49,60363 50

10.29 10.269.97 9.93

4,654,208 4,836,3316,283 5,011

- -1,926 2,188

- -- -- -- -- -

1,926 2,188

793 83796 101

- 444 47

933 989993 1,199

(28) (175)- -

(1) (1)- -

187 (36)158 (212)

1,151 987

1,149 9872 -

0.24 0.190.31 (0.12)


2010 2009


2010 2009


Signature Mortgage FundFinancial Statements

– 100 –













49,653 54,196

8,787 4,987977 1,189

(11,612) (10,507)(1,848) (4,331)

- -(994) (1,199)

- -(994) (1,199)

1,151 98747,962 49,653

49,603 54,183

8,776 4,937976 1,189

(11,612) (10,494)(1,860) (4,368)

- -(993) (1,199)

- -(993) (1,199)

1,149 98747,899 49,603

50 13

11 501 -- (13)

12 37

- -(1) -- -

(1) -2 -

63 50


2010 2009



2010 2009


Signature Mortgage FundFinancial Statements – Supplementary Schedules

– 101 –




2010 2009


- -- -


2010 2009


- -- -


2010 2009

4,836,331 5,263,196856,027 481,03395,417 116,310

(1,133,567) (1,024,208)4,654,208 4,836,331

5,011 1,3131,125 5,000

147 14- (1,316)

6,283 5,011


Annual management fee rateClass AClass F

Annual fixed administration fee rateClass AClass F

1.651.15

0.200.20


2010



10.29 10.2610.30 10.26

9.97 9.939.97 9.93


2010 2009



6,551

--------


2010


Signature Mortgage FundFund Specific Financial Instruments Risks (Note 11)




Mortgages & Asset Backed Securities ................................................................................... 94.6Short Term Investments........................................................................................................... 4.0Other Assets ............................................................................................................................ 1.4




Credit Rating^ (%)AAA/Aaa/A++ 44.1AA/Aa/A+ 8.3Not Rated 44.9Total 97.3


Credit Rating^ (%)AAA/Aaa/A++ 47.5AA/Aa/A+ 16.0BBB/Baa/B++ 9.0Not Rated 25.7Total 98.2



– 102 –


Currency RiskAs at March 31, 2010 and 2009, the Fund's investments were denominated in Canadian dollars, thefunctional currency of the Fund. As a result, the Fund was not exposed to currency risk.






As at March 31, 2010, had the prevailing interest rates increased or decreased by 0.25% (March 31, 2009 - 0.25%), with all other variables held constant, net assets of the Fund would havedecreased or increased, respectively, by approximately $236,000 (March 31, 2009 - $178,000). Inpractice, actual results may differ from this analysis and the difference may be material.



(in $000's) (in $000's) (in $000's) (in $000's)

Bonds - 100 - 100 Asset & Mortgage backed securities - 41,559 - 41,559 Mortgages 193 193 Short-term notes - 5,000 - 5,000 Total - 46,852 - 46,852




9,028 4,964 12,639 21,058 47,689



14,345 100 2,316 32,778 49,539

CORPORATE BONDS (43.1%) (cont’d)1,850,000 Ford Motor Credit Co., 3.836% 01/15/2015 1,850,000 1,856,969 2,405,000 France Telecom SA 4.95% 06/23/2011 2,495,428 2,492,789 1,390,000 Golden Credit Card Trust 5.106% 04/15/2011 1,458,805 1,439,019 1,345,000 Hydro One Inc., 6.4% 12/01/2011 1,420,087 1,442,767 2,760,000 Kimco North Trust II 4.45% 04/21/2010 2,726,325 2,762,753

840,000 Merrill Lynch Canada Finance Co., 5.8% 05/05/2011 839,882 868,162

1,525,000 Merrill Lynch Financial Assets Inc., 6.79% 04/15/2033 1,581,072 1,572,571

1,800,000 National Bank of Canada 4.456% 11/02/2016 1,800,000 1,863,436

3,250,000 Nordea Bank AB 3.95% 08/05/2015 3,217,500 3,274,208 755,000 RBC Capital Trust 7.288% 12/31/2049 769,358 765,946

4,135,000 Royal Bank of Canada 3.27% 11/10/2014 4,134,421 4,136,234 500,000 Talisman Energy Inc., 4.44% 01/27/2011 499,955 512,473


62,375,526 62,388,900 FOREIGN GOVERNMENT BONDS (3.6%)

4,920,000 African Development Bank4.85% 07/24/2012 5,248,410 5,196,121

PROVINCIAL BONDS (1.8%) 2,485,000 City of Montreal 4.95% 12/10/2014 2,696,349 2,637,765


Total Bonds (98.4%) 143,425,863 142,563,502


Foreign Currency Forward Contracts (0.1%) (see Schedule A) 1,574



Net Assets (100.0%) 144,888,983


Signature Short-Term Bond FundStatement of Investment Portfolio as at March 31, 2010

– 103 – CIG - 7220


GOVERNMENT BONDS (49.9%) 9,995,000 Canadian Government Bond


1.75% 03/01/2013 6,738,463 6,709,732 20,895,000 Canadian Government Bond 2% 09/01/2012 20,933,738 20,880,821

105,000 Canadian Government Bond 2% 12/01/2014* 101,758 101,331 15,660,000 Canadian Government Bond



3.5% 06/01/2013* 8,619,243 8,443,500 73,105,578 72,340,716

CORPORATE BONDS (43.1%) 3,280,000 407 International Inc., 4.65% 01/20/2012* 3,287,745 3,422,863 2,755,000 AltaGas Income Trust 4.41% 09/01/2010 2,747,968 2,788,957 1,300,000 American Express Canada

4.853% 10/03/2014 1,300,000 1,344,696 USD 1,465,000 Bank of Ireland 2.75% 03/02/2012 1,544,107 1,487,053

695,000 Bank of Ireland 3.8% 09/22/2015 681,691 522,527 3,075,000 Bank of Nova Scotia 6% 10/03/2018†† 3,416,448 3,354,362 2,405,000 Bear Stearns Co., Inc., 4.3% 01/12/2011 2,447,938 2,458,383 1,000,000 BMW Canada Inc., 3.22% 03/28/2013 999,890 1,001,364

600,000 BNS Capital Trust, Callable, 7.31% 12/31/2049†† 627,300 625,153 655,000 Calloway REIT, Callable, 4.51% 09/22/2010 646,495 659,734

1,960,000 Canada Capital Auto Receivables Asset Trust 1.097% 03/17/2011 1,960,000 1,960,157

1,960,000 Canada Capital Auto Receivables Asset Trust 2.002% 11/17/2012 1,960,000 1,961,960

7,265,000 Canada Housing Trust No.1 4.55% 12/15/2012 7,798,900 7,683,672

2,330,000 Canadian Imperial Bank of Commerce 3.05% 06/03/2013 2,328,765 2,340,595

1,430,000 Citigroup Finance Canada Inc.,4.35% 03/08/2013 1,428,885 1,431,814

600,000 Deutsche Bank AG 4.9% 08/22/2016 599,784 553,410 1,900,000 Finning International Inc., 5.16% 09/03/2013 2,045,730 2,000,744 1,250,000 First Capital Realty Inc., 5.25% 03/30/2011 1,293,038 1,278,370 1,200,000 First Captial Realty Inc., 5.49% 12/01/2011 1,203,060 1,241,363






1 Morgan Stanley A-1 17-Jun-10 1.07 (31,000) US $ 33,057 Canadian $ 1,574

Total Foreign Currency Forward Contracts Value 1,574


Signature Short-Term Bond FundFinancial Statements




















142,564 82,5191,417 10,450

- 21,000- -- -- -2 -- -- -

465 1,097- -- -

1,096 741145,544 115,807

- -- -- -- 21- -- -

655 152- -- -- -

655 173144,889 115,634

143,426 81,239- -

142,116 110,230860 746

1,913 4,658

5.32 5.4010.96 11.115.36 5.43

26,690,323 20,428,44978,451 67,137

356,848 857,170

- -4,440 2,872

18 10- -- -- -- -

4,458 2,882

1,766 930232 122

- 1100 53

2,098 1,1062,360 1,776

419 278(236) 177

(1) (1)- -

(2,077) 719(1,895) 1,173

465 2,949

390 2,8395 9

70 101

0.02 0.210.08 0.580.09 0.33


2010 2009


2010 2009


Signature Short-Term Bond FundFinancial Statements

– 105 –

















4,658 946

2,083 4,069117 61

(4,898) (458)(2,698) 3,672

- -(117) (61)

- -(117) (61)

70 1011,913 4,658

115,634 64,921

120,355 78,4612,261 1,749

(91,498) (30,655)31,118 49,555

- -(2,328) (1,791)

- -(2,328) (1,791)

465 2,949144,889 115,634

110,230 63,849

117,344 73,6312,132 1,684

(85,786) (30,048)33,690 45,267

- -(2,194) (1,725)

- -(2,194) (1,725)

390 2,839142,116 110,230

746 126

928 76112 4

(814) (149)126 616

- -(17) (5)

- -(17) (5)

5 9860 746


2010 2009



2010 2009


Signature Short-Term Bond FundFinancial Statements – Supplementary Schedules

– 106 –





2010 2009


22,626 34,71823,079 37,002


2010 2009


- -- -


2010 2009

20,428,449 11,984,76621,840,148 13,770,476

397,170 317,502(15,975,444) (5,644,295)26,690,323 20,428,449

67,137 11,44983,884 68,8501,121 359

(73,691) (13,521)78,451 67,137

857,170 176,294385,055 754,38221,584 11,433

(906,961) (84,939)356,848 857,170




1.300.75


0.170.17

-


2010




5.32 5.405.33 5.40

10.96 11.1110.96 11.11

5.36 5.435.36 5.43


2010 2009



4,269

--------


2010


Signature Short-Term Bond FundFund Specific Financial Instruments Risks (Note 11)




Corporate Bonds ...................................................................................................................... 33.0Government Bonds................................................................................................................... 28.2Short Term Investments........................................................................................................... 18.1Other Assets ............................................................................................................................ 10.6Provincial Bonds....................................................................................................................... 5.3Foreign Government Bonds...................................................................................................... 4.9Foreign Currency Forward Contracts ....................................................................................... -0.1




Credit Rating^ (%)AAA/Aaa/A++ 66.4AA/Aa/A+ 1.9A 19.7BBB/Baa/B++ 9.0Total 97.0


Credit Rating^ (%)AAA/Aaa/A++ 30.5AA/Aa/A+ 15.9A 10.2BBB/Baa/B++ 12.1Not Rated 20.8Total 89.5



– 107 –




Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 1,496 (31) 1,465 1.0 Total 1,496 (31) 1,465 1.0


Exposure Exposure Exposure AssetsCurrency (in $000’s) (in $000’s) (in $000’s) (%)US Dollar 9,666 (3,195) 6,471 5.6 Total 9,666 (3,195) 6,471 5.6

As at March 31, 2010, had the Canadian dollar strengthened or weakened by 10% (March 31, 2009 -10%) in relation to all other foreign currencies held in the Fund, with all other variables heldconstant, net assets of the Fund would have decreased or increased, respectively, by approximately$147,000 (March 31, 2009 - $647,000). In practice, actual results may differ from this analysis andthe difference may be material.






As at March 31, 2010, had the prevailing interest rates increased or decreased by 0.25% (March 31, 2009 - 0.25%), with all other variables held constant, net assets of the Fund would havedecreased or increased, respectively, by approximately $831,000 (March 31, 2009 - $415,000).In practice, actual results may differ from this analysis and the difference may be material.




13,838 77,621 39,990 12,532 143,981



32,214 41,724 33,189 6,842 113,969

Signature Short-Term Bond FundFund Specific Financial Instruments Risks (Note 11)

– 108 –




(in $000's) (in $000's) (in $000's) (in $000's)

Bonds - 135,212 - 135,212 Mortgage backed securities - 7,352 - 7,352 Foreign currency forward contracts - 2 - 2 Total - 142,566 - 142,566


1. THE FUNDS

The following funds are open-ended mutual fund trusts created under the laws of Ontario by declarations of trust.

Inception Date Inception Date Inception Date

of Class A Units of Class F Units of Class I Units

CI Funds

CI Alpine Growth Equity Fund May 1, 1997 December 13, 1999 May 31, 2006

CI American Equity Fund May 25, 1989 July 17, 2000 July 31, 2001

CI American Small Companies Fund September 9, 1985 July 17, 2000 July 31, 2001

CI American Value Fund May 27, 1957 November 17, 2000 November 1, 1996

CI Canadian Investment Fund November 16, 1932 November 17, 2000 November 1, 1996

CI Canadian Small/Mid Cap Fund November 1, 1992 December 13, 1999 June 20, 2005

CI Emerging Markets Fund September 10, 1991 July 17, 2000 July 31, 2001

CI European Fund September 10, 1991 July 31, 2001 May 25, 2004

CI Global Bond Fund August 31, 1992 July 17, 2000 July 31, 2001

CI Global Fund February 28, 1986 July 17, 2000 July 31, 2001

CI Global High Dividend Advantage Fund January 20, 2006 January 20, 2006 January 20, 2006

CI Global Small Companies Fund April 7, 1993 July 17, 2000 July 31, 2001

CI Global Value Fund June 12, 1996 July 17, 2000 July 31, 2001

CI International Balanced Fund September 29, 1994 July 17, 2000 July 31, 2001

CI International Fund August 5, 1999 July 17, 2000 August 29, 2003

CI International Value Fund June 12, 1996 July 31, 2001 July 31, 2001

CI Money Market Fund October 1, 1990 July 31, 2001 July 31, 2001

CI Pacific Fund October 31, 1981 July 17, 2000 July 31, 2005

CI US Money Market Fund January 30, 1995 – –

Portfolio Select Series

Select Canadian Equity Managed Fund – – November 27, 2006

Select Income Managed Fund – – November 27, 2006

Select International Equity Managed Fund – – November 27, 2006

Select Staging Fund November 7, 2005 November 7, 2005 July 16, 2007

Select U.S. Equity Managed Fund – – November 27, 2006

Harbour Funds

Harbour Fund June 27, 1997 July 17, 2000 July 31, 2001

Harbour Growth & Income Fund June 27, 1997 July 31, 2001 July 31, 2001

Signature Funds

Signature Canadian Balanced Fund June 25, 1997 July 17, 2000 July 18, 2003

Signature Canadian Bond Fund January 20, 1993 July 17, 2000 July 31, 2001

Signature Canadian Resource Fund April 11, 1997 July 31, 2001 August 28, 2009

Signature Corporate Bond Fund December 17, 2001 July 15, 2003 July 15, 2003

Signature Diversified Yield Fund November 10, 2009 November 10, 2009 November 30, 2009

Signature Dividend Fund October 29, 1996 July 31, 2001 August 29, 2003

Signature Global Income & Growth Fund February 22, 2007 February 22, 2007 February 22, 2007

Signature High Income Fund December 18, 1996 July 31, 2001 August 28, 2002

Signature Income & Growth Fund October 14, 1994 July 31, 2001 March 29, 2005

Signature Mortgage Fund May 1, 1993 December 13, 1999 August 28, 2006

Signature Select Canadian Fund May 13, 1998 July 17, 2000 July 31, 2001

Signature Short-Term Bond Fund May 31, 1976 November 17, 2000 November 1, 1996

CI Mutual FundsNotes to the Financial Statements as at March 31, 2010


Inception Date Inception Date Inception Date

of Class A Units of Class F Units of Class I Units

Synergy Funds

Synergy American Fund August 31, 1992 July 17, 2000 July 31, 2001

Synergy Tactical Asset Allocation Fund September 18, 1998 November 13, 2000 August 22, 2002

Portfolio Series Funds

Portfolio Series Balanced Fund November 9, 1988 November 17, 2000 October 31, 1996

Portfolio Series Balanced Growth Fund December 17, 2001 December 17, 2001 November 8, 2005

Portfolio Series Conservative Balanced Fund December 17, 2001 December 17, 2001 October 31, 2005

Portfolio Series Conservative Fund December 1, 1997 November 17, 2000 December 1, 1997

Portfolio Series Growth Fund December 17, 2001 December 17, 2001 October 11, 2002

Portfolio Series Income Fund December 1, 1997 November 17, 2000 December 1, 1997

Portfolio Series Maximum Growth Fund December 17, 2001 December 17, 2001 October 31, 2005



The following Funds offered Insights units to investors commencing on July 15, 2003:

CI American Value Fund CI International Fund

CI Canadian Investment Fund CI International Value Fund

CI Global Bond Fund Signature Canadian Bond Fund

CI Global Fund Signature Corporate Bond Fund

CI Global Small Companies Fund Signature Select Canadian Fund

CI Alpine Growth Equity Fund, CI Canadian Small/Mid Cap Fund and Signature Mortgage Fund offered

Class B units to investors commencing on December 13, 1999.

Signature Dividend Fund offered Class X units and Class Y units to investors commencing August 29, 2003.

Harbour Growth & Income Fund and Signature Dividend Fund offered Class Z units to investors

commencing on August 29, 2003.

Signature Select Canadian Fund and Signature Canadian Balanced Fund offered Class Z units to

investors commencing on August 2, 2005.

CI Money Market Fund offered Class M units to investors commencing October 18, 2005.

Select Staging Fund offered Class W units to investors commencing November 7, 2005.

On October 1, 2007 the following Funds issued T-Class units (also called the T-Class Securities).

The T-Class units are available in Class A, Class F, Class I and Class W units and unlike other classes

of units offered by the Funds; holders of T-Class Securities receive regular monthly cash distributions.

The following Funds had T-Class units outstanding as at March 31, 2010:

Portfolio Series Balanced Fund - AT5, AT8, FT8

Portfolio Series Balanced Growth Fund - AT5, AT8

Portfolio Series Growth Fund - AT5, AT8

Portfolio Series Maximum Growth Fund – AT5, AT8

Signature Canadian Balanced Fund offered Class U and Y units to investors commencing

August 14, 2009.

Select Staging Fund is available to simplify placing orders for a Custom Portfolio. If you have selected a

Custom Portfolio, you only need to submit one purchase order and CI will automatically switch your

investment from Select Staging Fund to the Select Funds in accordance with your Custom Portfolio’s

allocations on the business day following the day that your purchase in Select Staging Fund has settled.

If you have opted to modify your Custom Portfolio, CI will automatically switch your investment

from Select Staging Fund to the Select Funds and other Corporate Classes on the business day following

the day that your purchase in Select Staging Fund has settled or that CI have received your PSS

documentation containing your modification instructions, whichever occurs later. If your PSS documentation

is not received within five days after your initial purchase in Select Staging Fund has settled, CI will notify

your financial advisor and if your PSS documentation is not received within 30 days after your purchase

has settled, your participation in PSS will be terminated and your units of Select Staging Fund will be

automatically switched to Class A shares of CI Short-Term Advantage Corporate Class. Rather than using

Select Staging Fund, your modified Custom Portfolio may directly purchase shares in the Select Funds and

other Corporate Classes. If your PSS documentation is not received within five days after your first

investment in the Select Funds and other Corporate Classes, CI will notify your financial advisor and if your

PSS documentation is not received within 30 days after your first investment in the Select Funds and other

Corporate Classes, the allocation of your first investment between the Select Funds and other Corporate

Classes will become your target allocation and your Custom Portfolio.

Effective as of close of business on August 14, 2009 the following Funds were merged:

Terminated Funds Continuing Funds

Knight Bain Canadian Bond Fund Signature Canadian Bond Fund

Knight Bain Corporate Bond Fund Signature Canadian Bond Fund

Knight Bain Diversified Monthly Income Fund Signature Global Income & Growth Fund

Knight Bain Pure Canadian Equity Fund Signature Select Canadian Fund

Knight Bain Small Cap Fund CI Can-Am Small Cap Corporate Class

Signature Canadian Asset Allocation Fund Signature Canadian Balanced Fund

Signature Long-Term Bond Fund Signature Canadian Bond Fund

Synergy Focus Canadian Equity Fund Synergy Canadian Corporate Class

Synergy Focus Global Equity Fund Synergy Global Corporate Class

The Signature Diversified Yield Fund entered into forward purchase agreement (the "Forward Purchase

Agreement") with Bank of Montreal. Under the Forward Purchase Agreement the Fund agrees to buy

securities from a Bank of Montreal in return for a purchase price of the Signature Diversified Yield

Trust (“Underlying Trust”). Through the forward agreement the Fund provides unitholders with

exposure to the performance of the Underlying Trust. The Underlying Trust consists of fixed income and

high-yielding equity securities issued by issuers anywhere in the world. However, neither the Fund nor

the unitholders will have any ownership interest in the Underlying Trust.

The Statement of Investment Portfolio, Schedule of Tax Loss Carry Forwards and Schedule of Fees for

each of the Funds are as at March 31, 2010. The Statements of Net Assets, Schedule of Net Assets

per Unit and Net Asset Value per Unit and Schedule of Securities Lending are as at March 31, 2010

and 2009, where applicable. The Statements of Operations, Statements of Changes in Net Assets,

Schedule of Fund Unit Transactions and Schedule of Commissions for the years ended March 31, 2010

and 2009, except for Funds established during either period, in which case the information provided

relates to the period from inception to March 31, 2010 or to March 31, 2009. The Fund Specific

Financial Instruments Risks for each of the Funds are as at March 31, 2010 and 2009, as applicable.

2. SIGNIFICANT ACCOUNTING POLICIES

These financial statements have been prepared in accordance with Canadian Generally Accepted

Accounting Principles (“Canadian GAAP”). Certain prior period balances have been reclassified to

conform with the current period presentation.

The following is a summary of the significant accounting policies of the Funds:

(a) Adoption of Accounting Amendments

The Canadian Institute of Chartered Accountants (“CICA”) amended Section 3862 “Financial

Instruments – Disclosures” to require disclosures about the inputs to fair value measurements.

Amended Section 3862 became effective for annual financial statements relating to fiscal years

ending after September 30, 2009. Section 3862 establishes a three-tier hierarchy as a framework for

disclosing fair value based on inputs used to value the Funds’ investments.

The hierarchy of inputs is summarized as follows:

• Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities;

• Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or

liability, either directly or indirectly; and

• Level 3 – Inputs for the asset or liability that are not based on observable market data (unobservable

inputs).

The adoption of the new accounting amendment has no impact on the valuation policies of the Funds.

The Funds adopted the amendments to Section 3862 on March 31, 2010. The adoption of the amendments

is described in Note 11.

(b) Valuation of Investments

Canadian GAAP requires the fair value of financial instruments traded in an active market to be measured

based on an investment’s bid/ask price depending on the investment position (long/short).

For the purpose of processing unitholder transactions, net asset value is calculated based on the

closing market price of investments (referred to as “Net Asset Value”), while for financial statement

purposes net assets are calculated based on an investment’s bid/ask price (referred to as “Net Assets”).

In accordance with National Instrument 81-106, a comparison between the Net Asset Value per unit

and the Net Assets per unit is disclosed in the Schedule of Net Assets per Unit and Net Asset Value

per Unit.



The Manager adopted the purchase method of accounting for the merger of the Funds. Under this method one of the Funds is identified as acquiring Fund, and is referred to as the “Continuing Fund” and any other

Fund involved in the merger is referred to as the “Terminating Fund”. This identification is based on a comparison of the relative net asset value of the Funds as well as consideration of the continuation of such

aspects of the Continuing Fund as: investment objectives and practices and type of portfolio securities.

Effective as of the close of business on August 14, 2009, the Continuing Funds acquired all of the assets of the corresponding Terminating Funds in exchange for units/shares in the Continuing Funds. The value of

the units/shares of the Continuing Funds issued in connection with these mergers, were equal to the net assets transferred from the respective Terminating Funds. The cost associated with the mergers was borne

by the Manager.

Terminated Funds Continuing Funds Net Assets Acquired ($) Units Issued

Knight Bain Canadian Bond Fund Signature Canadian Bond Fund 190,806,165 19,641,605

Knight Bain Corporate Bond Fund Signature Canadian Bond Fund 2,964,055 531,860

Knight Bain Diversified Monthly Income Fund Signature Global Income & Growth Fund 34,067,084 4,943,438

Knight Bain Pure Canadian Equity Fund Signature Select Canadian Fund 39,232,167 3,330,724

Knight Bain Small Cap Fund CI Can-Am Small Cap Corporate Class 225,237 19,689

Signature Canadian Asset Allocation Fund Signature Canadian Balanced Fund 300,390,878 31,139,978

Signature Long-Term Bond Fund Signature Canadian Bond Fund 91,041,680 16,297,849

Synergy Focus Canadian Equity Fund Synergy Canadian Corporate Class 47,478,625 4,113,070

Synergy Focus Global Equity Fund Synergy Global Corporate Class 42,932,425 11,243,556

As a result of the merger, the Terminating Funds were deemed to have a taxation year-end on the merger date. In accordance with the Income Tax Act, all unrealized losses and certain elected unrealized gains of

the Funds' portfolio were deemed to be realized on the merger date.

The Terminated Funds’ results are not included in these financial statements.

At the financial reporting date, listed securities are valued based on the bid price for securities held

long and the ask price for securities held short. Unlisted securities are valued based on price quotations

from recognized investment dealers, or failing that, their fair value is determined by the Manager on

the basis of the latest reported information available. Fixed income securities, debentures, mortgage-

backed securities, asset-backed securities, money market investments and other debt instruments

including short-term investments, are valued at the bid quotation from recognized investment dealers.

Underlying Funds are valued on each business day at their net asset value as reported by the

Underlying Funds’ manager.

The fair value of private placements is determined by using valuation models that are based, in part,

on assumptions that are not supported by observable market inputs. These methods and procedures

may include, but are not limited to, performing comparisons with prices of comparable or similar

securities, obtaining valuation related information from issuers and/or other analytical data relating to

the investment and using other available indications of value. These values are independently assessed

by the Manager to ensure that they are reasonable. However, because of the inherent uncertainty of

valuation, the estimated fair values for the aforementioned securities and interests may be materially

different from the values that would have been used had a ready market for the investment existed.

The fair values of private placements are affected by the perceived credit risks of the issuer, predictability

of cash flows and the length of time to maturity.

Mortgages are valued according to the present value of cash flows at interest rates for mortgages that

are similar in nature and duration.

(c) Commissions and Other Portfolio Transaction Costs

Transaction costs, such as brokerage commissions, incurred in the purchase and sale of securities, are

included in “Commissions and other portfolio transaction costs” in the Statements of Operations.

(d) Cost of Investments

Cost of investments represents the amount paid for each security and is determined on an average cost

basis excluding commissions and transactions costs.

(e) Investment Transactions and Income Recognition

Investment transactions are accounted for on the trade date for financial reporting purposes and any

unrealized and realized gains and losses on such transactions are calculated on an average cost basis.

Dividend income and distributions from investments are recognized on the ex-dividend/ex-distribution

date and interest income is accounted for on the accrual basis.

Distributions received from income trust holdings are recorded as income, capital gains or a return of

capital, based on the best information available to the Manager. Due to the nature of these investments,

actual allocations could vary from this information. Distributions from income trusts that are treated

as a return of capital for income tax purposes reduce the average cost of the underlying investment trust.

(f) Foreign Exchange

Foreign currency amounts are translated into the functional currency of the Funds as follows:

fair value of investments, forward currency contracts, other assets and liabilities at the closing rate of

exchange on each business day; income and expenses, purchases, sales and settlements of investments

at the rate of exchange prevailing on the respective dates of such transactions. Foreign exchange gains

(losses) on completed transactions are included in “Foreign exchange gain (loss)” in the Statements

of Operations.

(g) Increase (Decrease) in Net Assets from Operations per Unit

Increase (decrease) in net assets from operations per unit of each class in the Statements of

Operations is calculated by dividing the increase (decrease) in net assets from operations of each class

of a Fund by the weighted average number of units outstanding of that class during the period.

(h) Forward Contracts

The Fund may enter into forward contracts. Forward contracts are valued on each valuation day based

on the difference between the value of the contract on the date the contract originated and the value

of the contract on the valuation day.

All unrealized gains (losses) arising from forward contracts are recorded as part of “Change in unrealized

appreciation (depreciation) of investments” in the Statements of Operations and “Unrealized gain

(loss) on forward currency contracts” in the Statements of Net Assets until the contracts are closed

out or expire, at which time the gains (losses) are realized and reported as “Realized gain (loss) on

investments” in the Statements of Operations.

Signature Diversified Yield Fund enter into Forward Agreement with third party and the value of that

forward contract on the valuation date is equal to the gain or loss that would be realized if the contract

was closed out or expired. The Underlying Trust is valued at its net asset value as reported by the

Underlying Trust’s manager on the valuation date for purposes of determining the value of the forward

contract. All gains (losses) arising from the forward agreement are recorded as part of “Unrealized gain

(loss) on purchase forward contract” in the Statements of Net Assets until the contract is closed out

or expires; at which time the gains (losses) are realized and reported as “Realized gain (loss) on

investments” in the Statements of Operations.

(i) Futures Contracts

Futures contracts are valued on each valuation day using the bid/ask price posted on the related public

exchange. All gains or losses arising from futures contracts are recorded as part of “Change in

unrealized appreciation (depreciation) of investments” in the Statements of Operations until the

contracts are closed out or expire, at which time the gains (losses) are realized and reported as

“Realized gain (loss) on investments” in the Statements of Operations.

(j) Options Contracts

Option contracts are valued each valuation day according to the gain or loss that would be realized if

the contracts were closed out. All gains or losses arising from option contracts are recorded as part of

“Change in unrealized appreciation (depreciation) of investments” until the contracts are closed out or

expire, at which time the gains (losses) are realized and reflected in the Statements of Operations in

“Realized gain (loss) on investments”.

Over-the-counter options are valued using the Black & Scholes model, whereas, exchange traded

options are valued at bid/ask price taken from the exchange.

(k) Equity Swaps

The fair value of equity swaps are determined using indicative bid values obtained from third-party

broker-dealers. The broker-dealers determine the fair value using valuation models that are based on

assumptions that are supported by observable market inputs, including the interest rates for that day.

The indicative bid values are independently assessed by the Manager to ensure that they are reasonable.

Any income received for equity swaps contracts is recorded as “Derivative income (loss)” in the

Statements of Operations. When the equity swaps contracts are closed out, any gains (losses) are

recorded as “Realized gain (loss) on investments” in the Statements of Operations.



(l) Cash and Short-Term Investments

Cash is comprised of cash on deposit. Short-term investments are comprised of short-term debt

instruments with terms to maturity of less than one year at acquisition.

(m) Net Asset Value per Unit

Net asset value per unit of each class is calculated at the end of each day on which the Toronto Stock

Exchange is open for business by dividing the total net asset value of each class of a Fund by the

number of units of that class outstanding.

(n) Use of Estimates

The preparation of financial statements in accordance with Canadian GAAP requires management to

make estimates and assumptions that affect the reported amounts of assets and liabilities at the

reporting date and the reported amounts of income and expenses during the reporting period. Actual

results could differ from those estimates.

3. UNITHOLDERS’ EQUITY

Units issued and outstanding represent the capital of each Fund.

Each Fund is authorized to issue an unlimited number of redeemable, transferable units of each class.

Generally the Funds have no restrictions or specific capital requirements, except for the minimum

subscription / redemption amounts. The relevant changes pertaining to subscription and redemption of

each Fund’s units are disclosed in the Statements of Changes in Net Assets and the Schedule of Fund

Unit Transactions.

In accordance with the objectives and risk management polices outlined in Note 11, the Funds endeavor

to invest subscriptions received in appropriate investments while maintaining sufficient liquidity to meet

redemptions through utilizing a short-term borrowing facility or disposal of investments when necessary.

4. INCOME TAXES

The Funds qualify as mutual fund trusts under the provisions of the Income Tax Act (Canada) and are

not subject to tax on net income, including net realized taxable capital gains for the taxation year,

which is paid or payable to unitholders at the end of the taxation year. However, such part of each

Fund’s taxable income and net realized capital gains that is not so paid or payable will be taxable to

that Fund. Income tax on net realized capital gains not paid or payable will generally be recoverable

by virtue of refunding provisions contained in the Income Tax Act (Canada) and provincial income tax

legislation, as redemptions occur. It is the intention of each Fund to distribute all net income and

sufficient net realized capital gains so that the Fund will not generally be liable for income tax thereon.

Occasionally, a Fund may distribute more than it earns. This excess distribution is a return of capital

and is not taxable to unitholders.

Net capital losses may be carried forward indefinitely to reduce future net realized capital gains.

Non-capital losses arising in taxation years up to 2003 may be carried forward seven years.

Non-capital losses arising in taxation years 2004 and 2005 may be carried forward ten years.

Non-capital losses arising in taxation years after 2005 may be carried forward twenty years.

Refer to fund specific Schedule of Income Tax Loss Carry Forwards in the financial statements for tax

loss carried forward information.

5. MANAGEMENT FEES AND OTHER EXPENSES

CI Investments Inc. is the Manager of each Fund and in consideration for management fees provides

management services required in the day-to-day operations of the Funds including management of the

investment portfolios of the Funds.

The management fee is calculated based on the net asset values of each class of a Fund (other than

Class I) at the end of each business day. Investors in Class I units are charged management fees

directly as negotiated between the investor and the Manager.

Effective July 1, 2009 the Manager reduced the annual management fees of Signature Corporate Bond

Fund to 1.70% from 2.0% for Class A, and to 0.85% from 1.50% for Class F.

During the period ended March 31, 2010, the Manager of the Funds absorbed a total of $3,315,000

(2009 - $263,000) and US$285,000 (2009 – US$53,000) in management fees due to the declining yields

generated by the following funds: CI Money Market Fund and CI US Money Market Fund, respectively.

A fund that invests in units of Underlying Funds will not pay a duplicate management and

administration fee on the portion of assets that are invested in units of Underlying Funds. During the

reporting period, a Fund may have received a management and/or administration fee rebates from an

Underlying Funds. The management fee rebates are included in “Management fee rebate receivable”

and in “Management fee rebate” as reflected in the Statements of Net Assets and Statements of

Operations of each Fund, as applicable.

The Manager bears all of the operating expenses of the Funds (other than certain taxes, borrowing

costs and new governmental fees) in return for fixed annual administration fees (“Administration

Fees”). Administration Fees are calculated as a fixed annual percentage of the net asset value of each

class of a Fund (other than Class I or M) at the end of each business day.

Refer to fund specific schedules in the financial statements for management fee and administration

fee rates applicable to each class.

The Signature Diversified Yield Fund will pay to the counterparty under Forward Agreement a fee of

approximately 0.50% per annual of the market value of notional exposure to the Underlying Trust under

the Forward Agreement calculated and paid monthly.

6. SECURITIES LENDING

Certain Funds have entered into a securities lending program with their custodian, RBC Dexia Investor

Services Trust ("RBC Dexia"). The aggregate market value of all securities loaned by a Fund cannot

exceed 50% of the assets of the Fund. A Fund will receive collateral of at least 102% of the value of

securities on loan. Collateral will generally be comprised of cash and obligations of or guaranteed by

the Government of Canada or a province thereof, or by the United States government or its agencies,

but may include obligations of other governments with appropriate credit ratings. For those Funds

participating in the program, amounts for securities loaned and the collateral received, appear on the

Fund specific schedules in the financial statements and income from securities lending is included in

"Securities lending" in the Statements of Operations and any cash collateral received or cash collateral

payable is included in the Statements of Net Assets in “Cash collateral received for securities on loan“

or ”Payable for cash collateral under securities lending”.

7. REINVESTMENT OF DISTRIBUTIONS

When a Fund pays a distribution to a unitholder, it will be paid in the same currency in which the units

are held. Distributions are automatically reinvested without charge in the same Fund or paid out in

cash to the unitholder. The Manager may change the distribution policy at its discretion.

8. RELATED PARTY TRANSACTIONS

The Bank of Nova Scotia has a significant interest in CI Financial Corp., the parent company of the Manager.

The Funds may have direct or indirect holdings in Bank of Nova Scotia and/or CI Financial Corp.



The Funds paid the following broker commissions to Bank of Nova Scotia during the years ended

March 31:

2010 2009

Fund (in $) (in $)

CI Alpine Growth Equity Fund 3,861 8,950

CI Canadian Investment Fund 208,296 170,023

CI Canadian Small/Mid Cap Fund 88,848 36,636

Select Canadian Equity Managed Fund 7,355 6,315

Select Income Managed Fund 617 419

Harbour Fund 3,000 132,989

Harbour Growth & Income Fund 178,783 169,730

Signature Canadian Balanced Fund 121,191 110,994

Signature Canadian Resource Fund 18,156 92,859

Signature Corporate Bond Fund - 2,352

Signature Dividend Fund 93,796 76,500

Signature Global Income & Growth Fund 508 1,476

Signature High Income Fund 37,259 58,663

Signature Income & Growth Fund 141,405 178,410

Signature Select Canadian Fund 352,919 445,734

Synergy Tactical Asset Allocation Fund 9,665 7,527

During the year ended March 31, 2010, Blackmont Capital Inc. was a subsidiary of CI Financial Corp.

As CI Financial Corp. is the parent company of CI Investments Inc., the Manager of the Funds,

Blackmont Capital Inc. was considered a related party to the Funds. On December 31, 2009,

CI Financial Corp. sold its interest in Blackmont Capital Inc. to unrelated parties.

The Funds paid the following brokerage commissions to Blackmont Capital Inc. during the years ended

March 31:

2010 2009

Fund ($) ($)

CI Canadian Investment Fund 51,974 82,440

CI Canadian Small/Mid Cap Fund 51,464 15,363

CI International Fund - 1,278

Select Canadian Equity Managed Fund 1,455 2,084

Select Income Managed Fund 863 139

Harbour Fund 8,000 57,600

Harbour Growth & Income Fund 12,000 84,100

Signature Canadian Balanced Fund 9,623 3,954

Signature Canadian Resource Fund 36,780 24,492

Signature Dividend Fund 4,299 3,598

Signature Global Income & Growth Fund 18 51

Signature High Income Fund 30,673 20,400

Signature Income & Growth Fund 18,131 14,586

Signature Select Canadian Fund 31,527 38,318

Synergy Tactical Asset Allocation Fund 890 4,664

9. INTERNATIONAL FINANCIAL REPORTING STANDARDS

On February 13, 2008, the Canadian Accounting Standards Board (“AcSB”) confirmed that the use

of International Financial Reporting Standards (“IFRS”) will be required for all publicly accountable

profit-oriented enterprises for interim and annual financial statements relating to fiscal years

beginning on or after January 1, 2011. IFRS will replace Canadian GAAP.

Based on the Manager’s current evaluation of the differences between IFRS and Canadian GAAP, the

Manager currently does not expect any impact to net asset value or net asset value per unit as a result

of the transition to IFRS, and expects that the main impact will be on the financial statements, where

additional disclosures or changes in presentation will be required. Further updates on the progress in

the implementation of the IFRS transition plan and any changes to reporting will be provided during

the implementation period leading up to the transition date.

10. FINANCIAL INSTRUMENTS

The categorization of financial instruments is as follows: investments and derivatives are classified as

held for trading and are stated at fair value. Receivable for unit subscriptions, receivable for dividends

and accrued interest, receivable for securities sold, management fee rebate receivable and other

receivables are designated as loans and receivables. They are recorded at amortized cost which

approximates their fair value due to their short-term nature. Similarly, payable for unit redemptions,

payable for securities purchased, management fees payable, accrued expenses and other payables are

designated as financial liabilities and are carried at their amortized cost which approximates their fair

value, due to their short-term nature. Financial liabilities are generally paid within three months.

11. FINANCIAL INSTRUMENTS RISK

Risk Management

The Funds are exposed to a variety of financial instruments risks: credit risk, liquidity risk and market risk

(including interest rate risk, currency risk and other price risk). The level of risk to which each Fund is

exposed depends on the investment objective and the type of investments the Fund holds. The value of

investments within a portfolio can fluctuate daily as a result of changes in prevailing interest rates,

economic and market conditions and company specific news related to investments held by the Fund. The

Manager of the Funds may minimize potential adverse effects of these risks on the Funds’ performance

by, but not limited to, regular monitoring of the Funds’ positions and market events, diversification of the

investment portfolio by asset type, country, sector, term to maturity within the constraints of the stated

objectives, and through the usage of derivatives to hedge certain risk exposures.

Other Price Risk

Other price risk is the risk that the value of financial instruments will fluctuate as a result of changes

in market prices (other than those arising from interest rate risk or currency risk). The value of each

investment is influenced by the outlook of the issuer and by general economic and political conditions,

as well as industry and market trends. All securities present a risk of loss of capital.

Other assets and liabilities are monetary items that are short-term in nature and therefore are not

subject to significant other price risk.

Interest Rate Risk

Interest rate risk is the risk that the fair value of interest-bearing investments will fluctuate due to

changes in prevailing levels of market interest rates. As a result, the value of the Funds that invest in

debt securities and/or income trusts will be affected by changes in applicable interest rates. If interest

rates fall, the fair value of existing debt securities may increase due to the increase in yield.

Alternatively, if interest rates rise, the yield of existing debt securities may decrease which may then

lead to a decrease in their fair value. The magnitude of the decline will generally be greater for

long-term debt securities than for short-term debt securities.

Interest rate risk also applies to Funds that invest in convertible securities. The fair value of these

securities varies inversely with interest rates, similar to other debt securities. However, since they may

be converted into common shares, convertible securities are generally less affected by interest rate

fluctuations than other debt securities.



The Portfolio Series Funds invest only in units of underlying funds and may be exposed to indirect

interest rate risk in the event that the underlying fund invests in interest bearing financial instruments.

Currency Risk

Currency risk arises from financial instruments that are denominated in a currency other than the

functional currency of the Funds. As a result, the Funds may be exposed to the risk that the value of

securities denominated in other currencies will fluctuate due to changes in exchange rates. The

Statement of Investment Portfolio identifies all bonds and derivative instruments denominated in

foreign currencies. Equities traded in foreign markets are also exposed to currency risk as the prices

denominated in foreign currencies are converted to the Funds’ functional currency to determine their

fair value.


currency risk in the event that the underlying fund invests in financial instruments that are

denominated in a currency other than the functional currency of the Fund.

Credit Risk

Credit risk is the risk that a security issuer or counterparty to a financial instrument will fail to meet

its financial obligations. The fair value of a debt instrument includes consideration for the credit

worthiness of the debt issuer. The carrying amount of debt instruments as shown on the Statement of

Investment Portfolio represents the credit risk exposure of each Fund. Credit risk exposure for

derivative instruments is based on each Fund’s unrealized gain on the contractual obligations with the

counterparty as at the reporting date. The credit rating of counterparty to a derivative instrument is

disclosed in the Statement of Investment Portfolio or in Fund Specific Financial Instruments Risks

section of the financial statements of each Fund, if applicable. The credit risk exposure of the Fund’s

other assets are represented by their carrying amount as disclosed in the Statements of Net Assets.


credit risk in the event that the underlying fund invests in debt instruments, preferred securities and

derivatives.

Credit ratings for debt securities, preferred securities and derivative instruments are obtained from

Standard & Poor’s, where available, otherwise ratings are obtained from: Moody's Investors Service,

Dominion Bond Rating Services and Canadian Bond Rating Services.

Credit ratings can be either long-term or short-term. Short-term credit ratings are generally assigned

to those obligations and derivative instruments considered short-term in nature.

The table below provides a cross-reference between the long-term credit ratings disclosed in the

Credit Rating table inclusive of the short-term credit ratings disclosed in the derivatives schedules in

the Statement of Investment Portfolio.

Credit Rating as per Credit Risk table Credit Rating as per derivative schedules

AAA/Aaa/A++ A-1+

AA/Aa/A+ A-1, A-2, A-3

A B, B-1

BBB/Baa/B++ B-2

BB/Ba/B+ B-3

B C

CCC/Caa/C++ -

CC/Ca/C+ -

C and Lower D

Not Rated WR

Significant cash balances as disclosed in the Statements of Net Assets are maintained by the

custodian, RBC Dexia. The Manager monitors the credit worthiness of the custodian on a regular basis.

All transactions executed by a Fund in listed securities are settled / paid for upon delivery using

approved brokers. The risk of default is considered minimal, as delivery of securities sold is only made

once the broker has received payment. Payment is made on a purchase once the securities have been

received by the broker. The trade will fail if either party fails to meet its obligation.

Liquidity Risk

Liquidity risk is the risk that a Fund may not be able to settle or meet its obligations, on time or at a

reasonable price. The Funds are exposed to daily cash redemption of redeemable units. Therefore, the

Funds invest the majority of their assets in investments that are traded in active markets and can be

readily disposed of. In addition, the Funds retain sufficient cash and cash equivalents positions to

maintain liquidity. From time to time, the Funds may enter into derivative contracts or invest in unlisted

securities that may not trade in an organized market and may be illiquid. Illiquid securities are

identified in the Statement of Investment Portfolio of each Fund.

Fair Value Hierarchy

The adoption of the amended Section 3862 requires the Funds to classify financial instruments

measured at fair value using a fair value hierarchy. Investments whose values are based on quoted

market prices in active markets are classified as Level 1. This level includes publicly traded equities,

exchange traded and retail mutual funds, exchange traded warrants, futures contracts, traded options,

American depositary receipts (“ADRs”) and Global depositary receipts (“GDRs”).

Financial instruments that trade in markets that are not considered to be active but are valued based

on quoted market prices, dealer quotations or alternative pricing sources supported by observable

inputs are classified as Level 2. These include fixed income securities, mortgage backed securities

(“MBS”), short-term instruments, non-traded warrants, over-the-counter options, structured notes of

indexed securities, foreign currency forward contracts and swap instruments.

Investments classified as Level 3 have significant unobservable inputs. Level 3 instruments include

private equities, private term loans, private equity funds and certain derivatives. As observable prices

are not available for these securities, the Funds may use a variety of valuation techniques to derive

the fair value.

Details of each Fund’s exposure to financial instruments risks including fair value hierarchy classification

are available in the “Fund Specific Financial Instruments Risks” section of the financial statements of

each Fund.



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Notice: Should you require additional copies of this Annual Report or have received more than one copy,

please contact CI Investments Inc. (the “Manager”) or your financial advisor.

Commissions, trailing commissions, management fees and expenses all maybe associated with mutual fund

investments. Please read the prospectus before investing. Unless otherwise indicated and except for

returns for periods less than one year, the indicated rates of return are the historical annual compounded

total returns including changes in security value. All performance data assume reinvestment of all

distributions or dividends 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. Mutual fund

securities are not covered by the Canada Deposit Insurance Corporation or by any other government

deposit insurer.

The commentaries contained herein are provided as a general source of information and should not be

considered personal investment advice or an offer or solicitation to buy or sell securities. Every effort has

been made to ensure that the material contained in these commentaries is accurate at the time of

publication. However, the Manager cannot guarantee its accuracy or completeness and accepts no

responsibility for any loss arising from any use of or reliance on the information contained herein.

®CI Funds, CI Investments, CI Investments design, Harbour Funds, Global Managers and American

Managers are registered trademarks of CI Investments Inc. ™The Portfolio Select Series and Signature Funds are trademarks of CI Investments Inc.


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Documents

Annual Financial Statement– as at March 31, 2010 · Annual Financial Statementsas at March 31, 2010 – 3 – CI Mutual Funds Management and Auditors’ Reports MANAGEMENT’S RESPONSIBILITY