Definition of terms: Annualized return – The average amount earned by an investment each year over a specific time period (assumes compounding of annual returns); Bottom-up investing – The process of analyzing and selecting securities based
on their fundamental characteristics; Fundamentals – Refers to the characteristics of a company (or economy) that are analyzed when valuing its worth (or strength); Target return approach – An approach to investing that seeks a specific
return across a full market cycle; Top-down investing – An approach to investing that bases asset allocation decisions fully or partly on macroeconomic analysis and analysis of the broader markets. 1Effective June 1, 2018, the sub-advisor
of the Fund changed from Radin Capital Partners Inc. to PineBridge Investments LLC. With this change, the Fund was renamed from IA Clarington Global Growth & Income Fund to IA Clarington Global Multi-Asset Fund. 2CPI refers to Canadian
Consumer Price Index, excluding energy and food; return target is gross of fees. 3Investment professionals include portfolio managers, research analysts, traders, portfolio strategists and product specialists, and are subject to change.
The information provided herein does not constitute financial, tax or legal advice. Always consult with a qualified advisor prior to making any investment decision. Commentaries are provided by the portfolio manager or sub-advisor responsible for
the management of the fund's investment portfolio, as specified in the applicable fund's prospectus ("portfolio manager"). Statements by the portfolio manager represent their professional opinion, do not necessarily reflect the views of iA Clarington,
and should not be relied upon for any other purpose. Information presented should not be considered a recommendation to buy or sell a particular security. Specific securities discussed are for illustrative purposes only. Mutual funds may purchase
and sell securities at any time and securities held by a fund may increase or decrease in value. Past investment performance of a security may not be repeated. Unless otherwise stated, the source for information provided is the portfolio manager.
Statements that pertain to the future represent the portfolio manager's current view regarding future events. Actual future events may differ. iA Clarington does not undertake any obligation to update the information provided herein. The information
presented herein may not encompass all risks associated with mutual funds. Please read the prospectus for a more detailed discussion on specific risks of investing in mutual funds. Commissions, trailing commissions, management fees and expenses all
may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Trademarks displayed herein that are not owned by
Industrial Alliance Insurance and Financial Services Inc. are the property of and trademarked by the corresponding company and are used for illustrative purposes only. The iA Clarington Funds are managed by IA Clarington Investments Inc. iA Clarington
and the iA Clarington logo are trademarks of Industrial Alliance Insurance and Financial Services Inc. and are used under license.