Sun Life Assurance Company Fund Fact Sheets and Including

issued by Sun Life Assurance Company of Canadamanaged by CI Investments Inc.

Sun Life Assurance Company of Canada

Fund Fact Sheets and Financial Highlights

April 2007Including SunWise® Elite Plus

SunWise Elite CI Global Fund Inception Date: October 31, 2005

F-1

Investment Objectives of the Segregated Fund

To obtain maximum long term capital growth by obtaining exposureprimarily to equity and equity-related securities of issuers located anywherein the world.

Investment Policy of the Segregated Fund

The Fund may achieve its investment objective by investing either directly insecurities of issuers or indirectly through one or more underlying mutualfunds. The Fund currently invests substantially all of its assets in theUnderlying Fund identified below.

Underlying Fund

CI Global Fund

Investment Objective of the Underlying Fund

To obtain maximum long-term capital growth.

Investment Policy of the Underlying Fund

It invests primarily in equity and equity-related securities of establishedcompanies throughout the world that the portfolio advisor believes havegood growth potential. The Underlying Fund may make large investmentsin any country, including emerging markets or emerging industries of anymarket.

Top 10 Holdings of the Underlying Fund(December 31, 2006)

Microsoft Corp. .....................................................................................2.2%Everest Re Group Ltd............................................................................1.5%Alstom RGPT.........................................................................................1.4%Commerzbank AG .................................................................................1.3%Endurance Specialty Holdings Ltd. ......................................................1.3%Atlas Copco AB.....................................................................................1.2%Petroleum Geo-Services ASA ..............................................................1.2%ABB Ltd..................................................................................................1.2%GEA Group AG ......................................................................................1.2%Sandvik AB............................................................................................1.1%

Performance

Past performance should not be construed as being indicative of the futureperformance of the Fund.

Year-by-year returns of the Fund (%)

The following chart shows the year-by-year annual performance of the Fund.The chart shows, in percentage terms, how much an investment made onJanuary 1 in each year would have grown or decreased by December 31 inthat year.

Overall past performance of the Fund

The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to the MSCI World Index.

Compound Annual Returns of the Fund as at December 31, 2006

The following table shows the annual compound total return of the Fund, ascompared to the MSCI World Index.

1 year 3 years 5 years 10 years LifeClass A 14.9 – – – 16.7Class B 15.3 – – – 16.1Class C 16.0 – – – 17.2MSCI World Index (%) 21.0 – – – 21.8

Fund

Fac

t She

ets

2005

2005

2005

4.1*

3.1* 3.

7*

Class AClass BClass C

*These figures are for the period from October 31, 2005 to December 31, 2005.

20

15

10

5

0

-5

2006

2006

2006

14.9

15.3

16.0

$5,000

$10,000

$15,000

$12,030$12,591

$11,890$11,960

Class AClass BClass CMSCI World Index

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

Value of $10,000 invested October 31, 2005to December 31, 2006.

SunWise Elite CI Global Value Fund Inception Date: October 31, 2005

SunWise EliteF-2


To obtain maximum long term capital growth by obtaining exposureprimarily to equity and equity-related securities of issuers located anywherein the world.



Underlying Fund

CI Global Value Fund


To obtain maximum long-term capital growth by identifying securities thatthe portfolio advisor believes are undervalued and have the potential forfuture growth.


It invests primarily in equity and equity-related securities of companiesaround the world. The Underlying Fund may make large investments in anycountry, including emerging markets or emerging industries of any market.


Allianz AG .............................................................................................2.6%Sprint Nextel Corp. ...............................................................................2.6%AMBAC Financial Group Inc. ...............................................................2.3%Nestle SA, Registered Shares .............................................................2.3%Royal Bank of Scotland Group PLC......................................................2.3%Cadbury Schweppes PLC......................................................................2.2%Wyeth....................................................................................................2.2%Microsoft Corp. .....................................................................................2.2%Vodafone Group PLC.............................................................................2.1%GlaxoSmithKline PLC............................................................................2.1%

Performance









2005

2005

2005

3.4*

1.9* 3.

4*



15

10

5

0

-5

2006

2006

2006

13.1 13

.7 14.3

$11,820$12,591

$11,590$11,690



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI International Value Fund Inception Date: October 31, 2005

F-3


To obtain maximum long-term capital growth by obtaining exposureprimarily to equity and equity-related securities of issuers located outside ofNorth America.



Underlying Fund

CI International Value Fund




It invests primarily in equity and equity-related securities of companieswhose primary operations are outside of North America. The UnderlyingFund may make significant investments in any country including emergingmarkets and emerging industries of any market.


Vodafone Group PLC.............................................................................2.6%Allianz AG .............................................................................................2.6%WPP Group PLC.....................................................................................2.5%Diageo PLC............................................................................................2.5%Cadbury Schweppes PLC......................................................................2.5%Royal Bank of Scotland Group PLC......................................................2.4%Nestle SA, Registered Shares .............................................................2.3%GlaxoSmithKline PLC............................................................................2.3%Telefonaktiebolaget LM Ericsson.........................................................2.2%Nipponkoa Insurance Co. Ltd. ..............................................................2.0%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to the MSCI EAFE Index.


The following table shows the annual compound total return of the Fund, ascompared to the MSCI EAFE Index.

1 year 3 years 5 years 10 years LifeClass A 17.6 – – – 19.8Class B 18.3 – – – 20.7Class C 18.9 – – – 21.3MSCI EAFE Index (%) 27.3 – – – 28.9

Fund

Fac

t She

ets

2005

2005

2005

4.9* 5.2* 5.3*



20

15

10

5

0

-5

2006

2006

2006

17.6

18.3 18.9

$12,520$13,444

$12,440$12,340

Class AClass BClass CMSCI EAFE Index


$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Synergy Global Corporate Fund Inception Date: October 31, 2005

SunWise EliteF-4


To obtain long-term capital growth by obtaining exposure primarily to equityand equity-related securities of issuers located anywhere in the world.



Underlying Fund

Synergy Global Corporate Class


To obtain long-term capital growth by investing primarily in equity andequity-related securities of global momentum companies situated in thedeveloped markets represented in the MSCI World Index – C$ whichcurrently includes 22 of the world’s developed markets.


The Underlying fund invests using a momentum style. Momentum managerslook for companies that are changing for the better or whose underlyingfundamentals are improving more rapidly than the overall stock market.They typically have a shorter investment horizon than other types of fundmanagers. They seek to be rewarded by significant upward movements instock prices that can occur over shorter time periods.


Roche Holding AG ................................................................................1.6%InBev......................................................................................................1.2%Bank of America Corp. .........................................................................1.0%Corrections Corp. of America...............................................................0.9%BNP Paribas SA ....................................................................................0.9%Chevron Corp.........................................................................................0.9%Reckitt Benckiser PLC...........................................................................0.9%Hewlett-Packard Co..............................................................................0.8%Thermo Fisher Scientific Inc.................................................................0.8%Merrill Lynch & Co. Inc.........................................................................0.8%

Performance









2005

2005

2005

3.6*

3.4*

2.7*



5

0

-5

2006

2006

2006

16.1

16.5

17.1

$12,030

$12,591$12,050$12,030



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Fidelity NorthStar® Fund Inception Date: October 31, 2005

F-5


To achieve maximum long-term capital growth by obtaining exposureprimarily to equity and equity-related securities of issuers located anywherein the world.



Underlying Fund

Fidelity NorthStar® Fund


To achieve maximum long-term capital growth.


It invests primarily in equity securities of companies anywhere in the world.


ConocoPhillips ......................................................................................1.6%Johnson & Johnson .............................................................................1.5%Hon Hai Precision Industry Co. Ltd. (Foxconn) ...................................1.3%Duvernay Oil Corp. ...............................................................................1.1%Shoppers Drug Mart Corp. ..................................................................1.1%Anglo Irish Bank Corp. PLC .................................................................1.0%D.R. Horton, Inc. ...................................................................................1.0%Barratt Developments PLC ..................................................................1.0%WestJet Airlines Ltd. ..........................................................................1.0%Research In Motion Ltd. ......................................................................0.9%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund.


The following table shows the annual compound total return of the Fund.

1 year 3 years 5 years 10 years LifeClass A 9.4 – – – 10.9Class B 9.9 – – – 11.5Class C 10.5 – – – 12.0

Fund

Fac

t She

ets

2005

2005

2005

3.1* 3.3*

3.3*



15

10

5

0

-5

2006

2006

2006

9.4 9.9 10

.5

$11,410$11,350$11,280



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Trimark Select Growth Fund Inception Date: October 31, 2005

SunWise EliteF-6


To achieve strong capital growth by obtaining exposure primarily to equityand equity-related securities of issuers located anywhere in the world.



Underlying Fund

Trimark Select Growth Fund


To achieve strong capital growth with a high degree of reliability over thelong term.


The Underlying Fund invests primarily in equities of companies anywhere inthe world. To achieve these objectives, the portfolio management teamlooks for companies:

• That can profit from technological advances and invest significantly toobtain a competitive advantage.

• That recognize and exploit opportunities for business expansion.

• Whose management has shown strong entrepreneurial skills.


Cemex S.A. de C.V. - ADR ....................................................................7.3%Accor S.A. ............................................................................................4.5%adidas AG..............................................................................................4.4%Grupo Televisa S.A. de C.V. - ADR.......................................................4.2%Applied Materials Inc...........................................................................4.1%Smiths Group PLC.................................................................................4.1%Reed Elsevier PLC .................................................................................4.1%ING Groep N.V. ....................................................................................4.0%Kingfisher PLC.......................................................................................4.0%Old Mutual PLC.....................................................................................3.7%

Performance









2005

2005

2005

3.2* 3.3*

3.3*



25

20

15

10

5

0

-5

2006

2006

2006

21.3

21.9 22.6

$12,660$12,591$12,590$12,520



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI International Balanced Fund Inception Date: October 31, 2005

F-7


To obtain maximum long-term total return by obtaining exposure primarily toequity, equity-related and fixed income securities of issuers locatedanywhere in the world.



Underlying Fund

CI International Balanced Fund


To obtain maximum long-term total return.


It invests primarily in equities, equity-related securities and fixed incomesecurities of issuers located throughout the world. The Underlying Fund isnot limited to how much it invests in a country or asset class or keepsinvested in each asset class. This will vary according to market conditions.


Microsoft Corp. .....................................................................................1.6%Everest Re Group Ltd............................................................................1.0%Endurance Specialty Holdings Ltd. ......................................................0.9%Hutchison Whampoa Ltd......................................................................0.9%Alstom RGPT.........................................................................................0.8%Yara International ASA.........................................................................0.8%Commerzbank AG .................................................................................0.8%Keyence Corp. .......................................................................................0.8%Sepracor Inc. .........................................................................................0.7%Forest Oil Corp. .....................................................................................0.7%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 60% MSCI World Indexand 40% J.P. Morgan Global Government Bond Index.


The following table shows the annual compound total return of the Fund, ascompared to a blend of 60% MSCI World Index and 40% J.P. Morgan GlobalGovernment Bond Index.

1 year 3 years 5 years 10 years LifeClass A 11.4 – – – 12.7Class B 12.0 – – – 12.9Class C 12.2 – – – 12.2Blended Index (%) 15.0 – – – 14.4

Fund

Fac

t She

ets

2005

2005

2005

3.1*

2.8*

1.9*



15

10

5

0

-5

2006

2006

2006

11.4 12.0

12.2

$11,430

$11,699$11,510$11,490

Class AClass BClass CBlended Index


$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Fidelity Global Asset Allocation Fund Inception Date: October 31, 2005

SunWise EliteF-8


To achieve high total investment return by obtaining exposure primarily toequity, equity-related and fixed income securities of issuers locatedanywhere in the world.



Underlying Fund

Fidelity Global Asset Allocation Fund


To achieve high total investment return.


The Underlying Fund uses an asset allocation approach. It invests primarilyin a mix of equity securities, fixed-income securities and money marketinstruments from around the world.


Japan Government ...............................................................................3.7%German Federal Republic.....................................................................2.6%Fannie Mae ...........................................................................................2.4%Credit Suisse Group..............................................................................2.0%U.S. Treasury Obligations.....................................................................1.9%Xstrata Plc .............................................................................................1.9%Fannie Mae ..........................................................................................1.7%Roche Holding AG ................................................................................1.5%Royal Bank of Scotland Group PLC......................................................1.5%Bayer AG ...............................................................................................1.4%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 65% MSCI World Index,30% Lehman Brothers Aggregate Bond Index and 5% ScotiaMcLeod3-month T-Bill Index.


The following table shows the annual compound total return of theUnderlying Fund, as compared to a blend of 65% MSCI World Index, 30%Lehman Brothers Aggregate Bond Index and 5% ScotiaMcLeod 3-monthT-Bill Index.

1 year 3 years 5 years 10 years LifeClass A 13.9 – – – 13.4Class B 14.5 – – – 14.0Class C 14.5 – – – 13.9Blended Index (%) 13,8 – – – 15,0

2005

2005

2005

1.6* 1.7*

1.6*



20

15

10

5

0

-5

2006

2006

2006

13.9 14

.5

14.5

$11,630

$11,503

$11,640

$11,570



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Trimark Global Balanced Fund Inception Date: October 31, 2005

F-9


To provide a high total investment return by obtaining exposure primarily toequity, equity-related and fixed income securities of issuers locatedanywhere in the world.



Underlying Fund

Trimark Global Balanced Fund


To provide a high total investment return through a combination of incomeand strong capital growth. The Underlying Fund holds a balanced portfolioof equities, convertible and fixed-income securities issued by governments– federal, provincial or municipal – or corporations anywhere in the world.


To achieve the Underlying Fund’s objectives, the portfolio management teamfocuses on a balanced portfolio that emphasizes:

• common shares of established companies that have the potential forfuture growth

• convertible securities of growing companies

• fixed-income securities issued by governments and corporationsanywhere in the world.


Cemex S.A. de C.V. - ADR ....................................................................3.3%Tesco PLC ..............................................................................................3.1%Wienerberger AG..................................................................................2.8%AMETEK, Inc. ........................................................................................2.8%Government of Canada, 3.00%, due June 1, 2007 ............................2.8%Topdanmark A/S ...................................................................................2.8%Uponor Oyj ............................................................................................2.7%Erste Bank der oesterreichischen Sparkassen AG .............................2.6%Cisco Systems, Inc................................................................................2.6%WPP Group PLC.....................................................................................2.6%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 60% MSCI World Indexand 40% ML Global Government Bond Index.


The following table shows the annual compound total return of the Fund, ascompared to a blend of 60% MSCI World Index and 40% ML GlobalGovernment Bond Index.


Fund

Fac

t She

ets

2005

2005

2005

2.1* 2.2*

2.1*



25

20

15

10

5

0

-5

2006

2006

2006

19.0

19.3

19.6

$12,210

$11,667

$12,190$12,150



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Dynamic Power American Growth Fund Inception Date: October 31, 2005

SunWise EliteF-10


To achieve long-term capital growth by obtaining exposure primarily toequity and equity-related securities of issuers located in the United States.



Underlying Fund

Dynamic Power American Growth Fund


To achieve long-term capital growth by investing primarily in equitysecurities of United States businesses.


As a Dynamic “Power” Fund, the Underlying Fund represents an activelytraded portfolio of equity securities chosen according to growth investmentcriteria.


Google Inc., Class “A”........................................................................10.7%Research In Motion Limited ................................................................9.2%Apple Computer, Inc. ............................................................................8.6%Akamai Technologies, Inc.....................................................................8.3%F5 Networks Inc....................................................................................7.0%Illumina, Inc...........................................................................................6.3%Priceline.com, Inc..................................................................................3.8%Celgene Corp.........................................................................................3.6%Nvidia Corp ...........................................................................................3.5%Dicks Sporting Goods Inc. ....................................................................3.5%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to the S&P 500 Index.


The following table shows the annual compound total return of the Fund, ascompared to the S&P 500 Index.

1 year 3 years 5 years 10 years LifeClass A -3.6 – – – -3.9Class B -2.9 – – – -3.4Class C -2.4 – – – -2.8S&P 500 Index (%) 16.2 – – – 15.9

2005

2005

2005

-0.9

*

-1.0

*

-0.8

*



5

0

-5

2006

2006

2006

-3.6

-2.9

-2.4

$9,680$11,882

$9,610$9,550

Class AClass BClass CS&P 500 Index


$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI American Value Fund Inception Date: October 31, 2005

F-11





Underlying Fund

CI American Value Fund


To achieve long-term capital growth by investing primarily in a broadlydiversified portfolio of American equity securities.


To achieve its objective, the portfolio advisor:

• invests primarily in common shares of larger U.S. companies

• uses a disciplined value style. The portfolio advisor focuses on companiesthat are considered undervalued in relation to their future prospects andoffer good absolute and relative value as characterized by measures suchas lower than average price/book and price/earnings, and higher-than-average dividend yield as compared to the overall market

• uses a disciplined, bottom-up stock selection process to evaluate acompany’s current position and future prospects

• may invest in companies located outside of the U.S.

• may invest in corporate debt and/or convertible securities.

Top 10 Holdings of the Underlying Fund (December 31, 2006)

Microsoft Corp. .....................................................................................4.4%Exxon Mobil Corp..................................................................................4.0%Ventas Inc..............................................................................................2.9%Harrah’s Entertainment Inc...................................................................2.9%Comcast Corp........................................................................................2.8%Oracle Corp. ..........................................................................................2.5%DaVita Inc..............................................................................................2.5%Bunge Ltd. .............................................................................................2.4%Boeing Co. .............................................................................................2.4%WellPoint Inc.........................................................................................2.3%

Performance








1 year 3 years 5 years 10 years LifeClass A 14.4 – – – 11.7Class B 15.1 – – – 12.8Class C 15.7 – – – 14.6S&P 500 Index (%) 16.2 – – – 15.9

Fund

Fac

t She

ets

2005

2005

2005

-0.6

*

-0.1

*

1.2*



20

15

10

5

0

-5

2006

2006

2006

14.4 15.1 15.7

$11,710$11,882

$11,500$11,370



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Synergy American Fund Inception Date: October 2005

SunWise EliteF-12


To obtain long-term appreciation of capital by obtaining exposure primarilyto equity and equity-related securities of issuers located in North America.



Underlying Fund

Synergy American Fund


To obtain long-term appreciation of capital.


It invests primarily in equity and equity-related securities of companies thatthe portfolio advisor believes have good growth potential. These companiesare located in countries that have signed the North American Free TradeAgreement (NAFTA) (or its successor). These countries currently include theUnited States, Canada and Mexico, but may also include countries thatbecome members of NAFTA in the future.


Bank of America Corp. .........................................................................2.6%Corrections Corp. of America...............................................................2.1%Chevron Corp.........................................................................................2.0%Merrill Lynch & Co. Inc.........................................................................2.0%Hewlett-Packard Co..............................................................................1.9%Thermo Fisher Scientific Inc.................................................................1.8%McDonald’s Corp...................................................................................1.8%CVS Corp. ..............................................................................................1.7%Coach Inc...............................................................................................1.7%QUALCOMM Inc. ..................................................................................1.7%

Performance









2005

2005

2005

0.9*

0.2*

0.2*



15

10

5

0

-5

2006

2006

2006

11.5

11.9 12.5

$11,270$11,882

$11,210$11,250



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Value Trust Corporate Fund Inception Date: October 31, 2005

F-13


To obtain long-term capital growth by obtaining exposure primarily to equityand equity-related securities of issuers located in the United States.



Underlying Fund

CI Value Trust Corporate Class


To obtain long-term capital growth.


It invests primarily in equity and equity-related securities of companies inthe United States.


AES Corp. ..............................................................................................5.3%Tyco International Ltd. ..........................................................................5.2%Sprint Nextel Corp. ...............................................................................5.0%UnitedHealth Group Inc........................................................................4.6%Amazon.com Inc....................................................................................4.5%Google Inc. ............................................................................................4.4%JP Morgan Chase & Co........................................................................4.4%Qwest Communications International Inc...........................................4.1%Sears Holdings Corp.............................................................................4.0%Countrywide Financial Corp. ................................................................3.5%

Performance








1 year 3 years 5 years 10 years LifeClass A 3.9 – – – 6.1Class B 4.4 -– – – 6.2Class C 4.9 – – – 6.3S&P 500 Index (%) 16.2 – – – 15.9

Fund

Fac

t She

ets

2005

2005

2005

3.1*

2.7*

2.4*



5

0

-5

2006

2006

2006

3.9 4.4 4.

9

$10,740$11,882

$10,720$10,710



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Fidelity Growth America Fund Inception Date: October 31, 2005

SunWise EliteF-14





Underlying Fund

Fidelity Growth America Fund


To achieve long-term capital growth.


It invests primarily in equity securities of U.S. companies.


Hewlett-Packard Co. ............................................................................4.3%Bank of America Corp. ........................................................................3.5%Exxon Mobil Corp. ...............................................................................3.5%Merrill Lynch & Co., Inc. ......................................................................3.4%UnitedHealth Group, Inc. .....................................................................3.3%McKesson Corp. ...................................................................................3.2%Frontier Oil Corp. ..................................................................................3.1%TXU Corp. .............................................................................................3.1%Intuit, Inc. .............................................................................................2.9%Caterpillar, Inc. .....................................................................................2.9%

Performance









2005

2005

2005

0.0*

-1.1

*

0.1*



10

5

0

-5

2006

2006

2006

5.8 6.

3 6.7

$10,680$11,882

$10,510$10,580



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite AIM Canadian First Class Fund Inception Date: October 31, 2005

F-15


To generate long-term capital growth by obtaining exposure primarily toequity and equity-related securities of Canadian issuers.



Underlying Fund

AIM Canadian First Class


To generate long-term capital growth by investing mainly in Canadianequities that are determined to be undervalued and that have the potentialfor future growth.


To achieve these objectives, the sub-advisor looks for Canadian equities thatshow any or all of the following:

• relatively low valuation measures such as price-to-earnings, price-to-book and price-to-cash flow ratios

• a potential development to unlock their true value, such as sharebuybacks, management changes or division spin-offs.

The Underlying Fund may invest its assets in foreign securities to the extentdeemed appropriate and consistent with its investment objectives,investment strategies and fund type. The Underlying Fund typically expectedto invest no more than 49% of its assets in foreign securities.


Manulife Financial Corp. ......................................................................3.5%The Bank of Nova Scotia......................................................................3.3%The Toronto-Dominion Bank.................................................................3.1%Tyco International Ltd. ..........................................................................2.9%E-L Financial Corp. Ltd..........................................................................2.7%Bank of Montreal..................................................................................2.6%Talisman Energy Inc..............................................................................2.5%Canadian Imperial Bank of Commerce................................................2.3%Canadian National Railway Co............................................................2.2%Dell Inc. .................................................................................................2.2%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to the S&P/TSX Composite Index.


The following table shows the annual compound total return of the Fund, ascompared to the S&P/TSX Composite Index.

1 year 3 years 5 years 10 years LifeClass A 14.4 – – – 19.0Class B 14.9 – – – 18.3Class C 15.6 – – – 18.3S&P/TSX Composite Index (%) 17.2 – – – 23.4

Fund

Fac

t She

ets

2005

2005

2005

7.0*

5.7*

5.2*



20

15

10

5

0

-5

2006

2006

2006

14.4

14.9 15.6

$12,160

$12,783

$10,510

$12,166

Class AClass BClass CS&P/TSX Composite Index


$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Canadian Investment Fund Inception Date: October 31, 2005

SunWise EliteF-16


To achieve long-term capital growth by obtaining exposure primarily toequity and equity-related securities of Canadian issuers.



Underlying Fund

CI Canadian Investment Fund


To achieve long-term capital growth by investing primarily in shares of majorCanadian companies.



• invests primarily in the securities of the largest companies (bycapitalization) listed on the Toronto Stock Exchange

• manages in a disciplined value style, focusing on companies that areconsidered to be undervalued in relation to their future prospects andoffer good absolute and relative value characterized by measures such aslower-than-average price/book and price/earnings, and higher-than-average dividend yield

• uses a disciplined, bottom-up stock selection process to evaluate acompany’s current position and future prospects

• may invest in foreign securities.


Royal Bank of Canada ..........................................................................8.1%Bank of Nova Scotia.............................................................................7.3%Bank of Montreal..................................................................................5.7%Petro-Canada ........................................................................................4.6%EnCana Corp..........................................................................................4.5%Canadian National Railway Co............................................................4.5%Sun Life Financial Inc. ..........................................................................3.7%Power Corp. of Canada ........................................................................3.6%Shell Canada Ltd...................................................................................3.5%Imperial Oil Ltd......................................................................................3.2%

Performance









2005

2005

2005

6.9*

9.0*

7.1*



15

10

5

0

-5

2006

2006

2006

12.5 13.0

13.4

$12,150

$12,783$12,320

$12,030



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Harbour Fund Inception Date: October 31, 2005

F-17


To obtain maximum long-term capital growth by obtaining exposureprimarily to equity and equity-related securities of Canadian issuers.



Underlying Fund

Harbour Fund




It invests primarily in equity and equity-related securities of high quality,large and mid-capitalization Canadian companies that the portfolio advisorbelieves have good potential for future growth.


Royal Bank of Scotland Group PLC......................................................4.9%Suncor Energy Inc. ................................................................................4.6%Royal Bank of Canada ..........................................................................4.3%Canadian Imperial Bank of Commerce................................................4.2%BHP Billiton Ltd. ....................................................................................3.8%Toronto-Dominion Bank........................................................................3.8%Rio Tinto PLC.........................................................................................3.7%Bank of Nova Scotia.............................................................................3.7%Alcan Inc................................................................................................3.7%Talisman Energy Inc..............................................................................3.6%

Performance









Fund

Fac

t She

ets

2005

2005

2005

6.2* 6.3*

5.4*



20

15

10

5

0

-5

2006

2006

2006

13.5

14.1

14.5

$12,070

$12,783$12,130

$12,050



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Signature Select Canadian Fund Inception Date: October 31, 2005

SunWise EliteF-18


To seek capital appreciation over the long-term coupled with dividendincome by obtaining exposure primarily to equity and equity-relatedsecurities of Canadian issuers.



Underlying Fund

Signature Select Canadian Fund


To seek capital appreciation over the long-term coupled with dividendincome.


It invests primarily in common shares and convertible securities of Canadiancompanies and preferred shares that pay regular income. The UnderlyingFund’s investments are diversified across industry sectors.


Royal Bank of Canada ..........................................................................4.6%Toronto-Dominion Bank........................................................................3.6%Barrick Gold Corp..................................................................................3.6%Petro-Canada ........................................................................................3.2%Cameco Corp.........................................................................................2.8%EnCana Corp..........................................................................................2.2%BNP Paribas SA ....................................................................................2.0%Talisman Energy Inc..............................................................................1.6%Manulife Financial Corp. ......................................................................1.6%Rogers Communications Inc.................................................................1.6%

Performance









2005

2005

2005

6.3* 8.

5*

6.4*



25

20

15

10

5

0

-5

2006

2006

2006

19.5

19.9

20.5

$12,820$12,783

$13,010

$12,700



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Synergy Canadian Fund Inception Date: October 31, 2005

F-19


To seek long-term capital growth by obtaining exposure primarily to equityand equity-related securities of Canadian issuers.



Underlying Fund

Synergy Canadian Corporate Class


To seek long-term capital growth by investing primarily in equity and equity-related securities of Canadian companies that represent the growth style.The Underlying Fund may also invest in foreign securities.


The Underlying Fund invests using a momentum style. Momentummanagers look for companies that are changing for the better and whoseunderlying fundamentals are improving more rapidly than the overall stockmarket. They typically have a shorter investment horizon than other types ofinvestment fund managers. They seek to be rewarded by significant upwardmovements in stock prices that can occur over shorter time periods.


Royal Bank of Canada ..........................................................................5.9%Manulife Financial Corp. ......................................................................3.8%Toronto-Dominion Bank........................................................................3.5%Rogers Communications Inc.................................................................2.6%Bank of Nova Scotia.............................................................................2.5%Suncor Energy Inc. ................................................................................2.4%Canadian Imperial Bank of Commerce................................................2.4%EnCana Corp..........................................................................................2.4%Petro-Canada ........................................................................................2.2%Addax Petroleum Corp..........................................................................2.1%

Performance








1 year 3 years 5 years 10 years LifeClass A 16.3 – – – 20.6Class B 16.7 – – – 20.4Class C 17.2 - – – 21.9S&P/TSX Composite Index (%) 17.2 – – – 23.4

Fund

Fac

t She

ets

2005

2005

2005

6.9*

6.3* 7.

4*



20

15

10

5

0

-5

2006

2006

2006

16.3

16.7 17.2

$12,590$12,783

$12,410$12,430



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Fidelity True North® Fund Inception Date: October 31, 2005

SunWise EliteF-20


To obtain long-term capital growth by obtaining exposure primarily to equityand equity-related securities of Canadian issuers.



Underlying Fund

Fidelity True North® Fund


To obtain long-term capital growth.


It invests primarily in equity securities of Canadian companies.


Manulife Financial Corp. .....................................................................5.4%Royal Bank of Canada .........................................................................5.4%Toronto-Dominion Bank .......................................................................4.6%Suncor Energy, Inc. ..............................................................................3.6%TELUS Corp. .........................................................................................3.4%Canadian Natural Resources Ltd. .......................................................3.2%Nexen, Inc. ...........................................................................................3.1%Bank of Nova Scotia ............................................................................3.0%Rogers Communications, Inc. .............................................................2.9%Research In Motion Ltd. ......................................................................2.9%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to the S&P/TSX Composite Index &S&P/TSX Capped Composite Index.


The following table shows the annual compound total return of the Fund,as compared to the S&P/TSX Composite Index & S&P/TSX CappedComposite Index.

1 year 3 years 5 years 10 years LifeClass A 15.6 – – – 18.2Class B 16.3 – – – 19.1Class C 16.6 – – – 19.4S&P/TSX Composite Index (%) & S&P/TSX Capped Composite Index 17.2 – – – 23.4

2005

2005

2005

5.0* 5.3* 5.4*



20

15

10

5

0

-5

2006

2006

2006

15.6 16.3

16.6

$12,290$12,783

$12,250$12,140



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Mackenzie Cundill Canadian Security Fund Inception Date: October 31, 2005

F-21


To achieve long-term capital growth by obtaining exposure primarily toequity, equity-related and fixed income securities of Canadian issuers.



Underlying Fund

Mackenzie Cundill Canadian Security Fund


It pursues long-term capital growth from investments mainly in Canadianequity and fixed income securities.


It invests mainly in securities which are trading below their estimatedintrinsic value, as determined by reviewing corporate balance sheets,earnings statements, dividend records, business prospects, managementstrengths and potential catalysts to realize shareholder value. Preservationof invested capital is the hallmark of the contrarian, value approachfollowed by the portfolio advisor.


BCE Inc. ................................................................................................ 7.6%Canfor Corp. ......................................................................................... 5.8%Fairfax Financial................................................................................... 5.1%Korea Electric Power Corp. ................................................................. 4.8%MI Developments Inc. ......................................................................... 4.6%Nikko Cordial Corp............................................................................... 4.4%Onex Corp............................................................................................. 3.8%Pfizer Inc............................................................................................... 3.7%QLT Inc.................................................................................................. 3.4%Torstar Corp.......................................................................................... 3.3%

Performance









Fund

Fac

t She

ets

2005

2005

2005

9.4*

2.9*

2.9*



10

5

0

-5

2006

2006

2006

7.4 7.9 8.

4

$11,150

$12,783

$11,100

$11,750



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Canadian Asset Allocation Fund Inception Date: October 31, 2005

SunWise EliteF-22


To achieve a superior total rate of return by obtaining exposure primarily toequity, equity-related and fixed income securities of Canadian issuers.



Underlying Fund

CI Canadian Asset Allocation Fund


To achieve a superior total rate of return from a combination of capitalgrowth, dividends and interest income through active asset allocationamong equity, fixed income and money market securities. The UnderlyingFund invests primarily in securities of Canadian issuers.



• actively manages the Underlying Fund using equity, fixed incomeinstruments, and cash and cash equivalents. The Underlying Fund is notlimited to how much it invests in each asset class. This will varyaccording to market conditions

• invests mainly in Canadian stocks for the equity portion of the portfolio,relying on a disciplined, bottom-up stock selection process to evaluate acompany’s current position and future prospects

• invests mainly in high quality government and corporate issues for thebond portion of the portfolio.


Royal Bank of Canada ..........................................................................3.9%Bank of Nova Scotia.............................................................................2.8%Bank of Montreal..................................................................................2.8%Petro-Canada ........................................................................................2.2%Canadian National Railway Co............................................................2.2%EnCana Corp..........................................................................................1.9%Sun Life Financial Inc. ..........................................................................1.8%Shell Canada Ltd...................................................................................1.7%Power Corp. of Canada ........................................................................1.7%Imperial Oil Ltd......................................................................................1.6%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 40% S&P/TSXComposite Index, 35% SCM Universe Bond Total Return Index and 25%MSCI World Index.


The following table shows the annual compound total return of the Fund, ascompared to a blend of 40% S&P/TSX Composite Index, 35% SCM UniverseBond Total Return Index and 25% MSCI World Index.


2005

2005

2005

4.0* 4.1*

4.1*



10

5

0

-5

2006

2006

2006

8.4 8.8 9.0

$11,350$11,941

$11,330$11,270



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Harbour Growth & Income Fund Inception Date: October 31, 2005

F-23


To obtain long-term total return by obtaining exposure primarily to equity,equity-related and fixed income securities of Canadian issuers.



Underlying Fund

Harbour Growth & Income Fund


To obtain long-term total return through a prudent balance of income andcapital appreciation.


It invests primarily in equity and equity-related securities of mid- to-largecapitalization Canadian companies and fixed income securities issued byCanadian governments and companies. The proportion of the UnderlyingFund’s assets invested in equity and fixed income securities may varyaccording to market conditions.


Canadian Imperial Bank of Commerce................................................3.7%Royal Bank of Canada ..........................................................................3.5%Toronto-Dominion Bank........................................................................3.3%Royal Bank of Scotland Group PLC......................................................3.3%Rio Tinto PLC.........................................................................................3.1%Suncor Energy Inc. ................................................................................3.0%Bank of Nova Scotia.............................................................................2.9%Citigroup Inc. .........................................................................................2.7%Talisman Energy Inc..............................................................................2.2%EnCana Corp..........................................................................................2.2%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 60% S&P/TSX CompositeIndex and 40% SCM Universe Bond Total Return Index.


The following table shows the annual compound total return of the Fund, ascompared to a blend of 60% S&P/TSX Composite Index and 40% SCMUniverse Bond Total Return Index.


Fund

Fac

t She

ets

2005

2005

2005

4.4* 4.5* 4.6*



15

10

5

0

-5

2006

2006

2006

10.4

10.7

11.0

$11,610$11,872

$11,570$11,530



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Fidelity Canadian Asset Allocation Fund Inception Date: October 31, 2005

SunWise EliteF-24


To achieve high total investment returns by obtaining exposure primarily toequity, equity-related and fixed income securities of Canadian issuers.



Underlying Fund

Fidelity Canadian Asset Allocation Fund


To achieve high total investment returns.


The Underlying Fund uses an asset allocation approach. It invests primarilyin a mix of Canadian equity securities, fixed income securities and moneymarket instruments.


Canadian National Railway Co. ..........................................................2.6%Canadian Government .........................................................................2.2%Talisman Energy, Inc. ...........................................................................2.2%TransCanada Corp. ...............................................................................2.1%Bank of Montreal .................................................................................2.0%Alcan, Inc. ............................................................................................1.9%Manulife Financial Corp. .....................................................................1.8%Toronto-Dominion Bank .......................................................................1.7%Research In Motion Ltd. ......................................................................1.7%Canadian Imperial Bank of Commerce ...............................................1.7%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 65% S&P/TSX CappedComposite Index, 30% RBC CM Canadian Bond Market Index and 5%ScotiaMcLeod 91-day T-Bill Index.


The following table shows the annual compound total return of the Fund, ascompared to a blend of 65% S&P/TSX Capped Composite Index, 30% RBCCM Canadian Bond Market Index and 5% ScotiaMcLeod 91-day T-Bill Index.


2005

2005

2005

4.0* 4.3*

4.1*



15

10

5

0

-5

2006

2006

2006

10.7 11.2

11.4

$11,600$11,892

$11,600$11,510



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Mackenzie Cundill Canadian Balanced Fund Inception Date: October 31, 2005

F-25


To achieve long-term capital growth by obtaining exposure primarily toequity, equity-related and fixed income securities of Canadian issuers.



Underlying Fund

Mackenzie Cundill Canadian Balanced Fund


It pursues long-term capital growth by investing mainly in Canadian equityand fixed income securities. The levels of fixed income and equity securitieswill range between 30% and 70% of the Underlying Fund’s assets,depending on the manager’s assessment of economic and market factors.


It invests in securities which are trading below their estimated intrinsicvalue, as determined by reviewing corporate balance sheets, earningsstatements, dividend records, business prospects, management strengthsand potential catalysts to realize shareholder value. Preservation of investedcapital is the hallmark of the contrarian, value approach followed by theportfolio advisor.


Government of Canada 4.50% 2007/09/01 .....................................12.3%Government of Canada 6.00% 2008/06/01 .......................................7.9%Government of Canada 3.00% 2007/06/01 .......................................5.3%BCE Inc. ................................................................................................5.2%Fairfax Financial Hldgs Ltd. .................................................................3.7%Nikko Cordial Corp. ..............................................................................3.6%Fairfax Financial Hldgs Ltd. 7.75% 2012/04/26 ................................3.1%Munchener Ruckers AG ......................................................................2.8%MI Developments Inc. .........................................................................2.8%Korea Electric Power Corp. ..................................................................2.8%

Performance









Fund

Fac

t She

ets

2005

2005

2005

3.2* 3.3*

1.9*



10

5

0

-5

2006

2006

2006

5.5 6.

0 6.2

$10,820

$11,810$10,950$10,890



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Signature Income & Growth Fund Inception Date: October 31, 2005

SunWise EliteF-26


To provide a steady flow of current income while preserving capital byobtaining exposure primarily to equity, equity-related and fixed incomesecurities of Canadian issuers.



Underlying Fund

Signature Income & Growth Fund


To provide a steady flow of current income while preserving capital byinvesting in a diversified portfolio of securities composed mainly of equity,equity-related and fixed income securities of Canadian issuers. TheUnderlying Fund may also invest in foreign securities.


It invests in a combination of equity securities, fixed income securitiesand derivatives. To the extent the fund invests in equity securities, thesewill include preferred and common shares broadly diversified by sectorand style. Fixed income may consist of high-yielding government andcorporate bonds, debentures and notes. This may include securities thatare unrated or have credit rating below investment grade. The term tomaturity of these securities will vary depending on the portfolio advisor’soutlook for interest rates. The Underlying Fund may also generate incomeby investing in real estate investment trusts (REITs), royalty trusts, incometrusts and other similar high yielding instruments. The portfolio advisorwill seek to produce additional income through covered call writing andother derivative strategies.


Royal Bank of Canada ..........................................................................2.2%Barrick Gold Corp..................................................................................2.0%Toronto-Dominion Bank........................................................................1.9%Petro-Canada ........................................................................................1.5%EnCana Corp..........................................................................................1.3%Cameco Corp.........................................................................................1.2%Talisman Energy Inc..............................................................................1.1%BNP Paribas SA ....................................................................................1.0%Bank of Nova Scotia.............................................................................0.9%Rogers Communications Inc.................................................................0.8%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 60% S&P/TSX CompositeIndex, 15% Merrill Lynch Canadian Issuers High Yield Index, 15% ScotiaCapital Universe Total Return Bond Index and 10% S&P/TSX Capped IncomeTrust Index.


The following table shows the annual compound total return of the Fund, ascompared to a blend of 60% S&P/TSX Composite Index, 15% Merrill LynchCanadian Issuers High Yield Index, 15% Scotia Capital Universe Total ReturnBond Index and 10% S&P/TSX Capped Income Trust Index.


2005

2005

2005

5.4* 6.

3*

5.5*



15

10

5

0

-5

2006

2006

2006

12.0

12.3

12.6

$11,880

$11,984$11,940

$11,810



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Trimark Income Growth Fund Inception Date: October 31, 2005

F-27


To generate capital growth and income over the long term by obtainingexposure primarily to equity, equity-related and fixed income securities ofCanadian issuers.



Underlying Fund

Trimark Income Growth Fund


To generate capital growth and income over the long term. The UnderlyingFund invests primarily in Canadian equities, fixed-income securities ofCanadian issuers, both government and corporate, and foreign equities andfixed-income securities.


To achieve these objectives, the portfolio management team focuses on:

• common shares of Canadian and foreign companies that have thepotential for future growth

• convertible securities of growing companies

• fixed-income securities of Canadian and foreign governments andcorporations.


Government of Canada, 5.75%, due June 1, 2029 ............................5.8%HBOS PLC..............................................................................................4.1%Government of Canada, 5.00%, due June 1, 2014 ............................3.6%Zimmer Holdings, Inc............................................................................3.5%The Toronto-Dominion Bank.................................................................3.1%Power Corp. of Canada ........................................................................3.1%Government of Canada, 5.25%, due June 1, 2012 ............................3.1%The Bank of Nova Scotia......................................................................3.0%Loblaw Cos., Ltd. ..................................................................................2.8%Canada Housing Trust, 4.10%, due December 15, 2008 ...................2.6%

Performance









Fund

Fac

t She

ets

2005

2005

2005

2.3*

2.2* 2.4*



15

10

5

0

2006

2006

2006

10.9 11.4

11.5

$11,420$11,873

$11,380$11,350



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Portfolio Series Balanced Fund Inception Date: October 31, 2005

(Formerly SunWise Elite CI Canadian Balanced Portfolio)

SunWise EliteF-28


To provide a balance between income and long-term capital growth byobtaining exposure to equity, equity-related and fixed income securities ofCanadian issuers. Commencing May 7, 2007, the Fund may invest insecurities of issuers located anywhere in the world.



Underlying Fund

Portfolio Series Balanced Fund


To provide a balance between income and long-term capital growth whilediversifying risk by investing in income and equity mutual funds.


The portfolio advisor uses strategic asset allocation as the principalinvestment strategy to create a portfolio diversified by investment style,asset class and geographic region. This generally includes Canadian equity,U.S. equity, international equity, Canadian fixed income and global fixedincome securities.

In determining the Underlying Fund’s target asset allocations, the portfolioadvisor considers, among other factors, each underlying mutual fund’sinvestment objective and strategies, past performance and historicalvolatility in the context of a diversified holding of underlying mutual fundssuitable for the investment objective of the Underlying Fund.


CI Canadian Bond Fund .....................................................................15.1%Signature High Income Fund ...........................................................11.3%CI Canadian Investment Fund .............................................................8.9%Signature Select Canadian Fund .......................................................8.3%Signature Corporate Bond Fund .........................................................7.6%CI International Value Fund .................................................................7.3%CI International Fund ...........................................................................6.4%CI American Value Corporate Class ...................................................5.3%Synergy Canadian Corporate Class ....................................................5.1%CI American Equity Fund ....................................................................4.3%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 40% SCM UniverseTotal Return Bond Index, 25% S&P/TSX Composite Index, and 35% MSCIWorld Index.


The following table shows the annual compound total return of the Fund, ascompared to a blend of 40% SCM Universe Total Return Bond Index, 25%S&P/TSX Composite Index and 35% MSCI World Index.

1 year 3 years 5 years 10 years LifeClass A 11.6 – – – 15.4Class B 12.1 – – – 15.2Class 12.2 – – – 14.1Blended Index (%) 13.2 – – – 15.3

2005

2005

2005

5.8*

5.2*

3.9*



15

10

5

0

-5

2006

2006

2006

11.6

12.1

12.2

$11,660

$11,811

$11,790$11,810



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Portfolio Series Conservative Fund Inception Date: October 31, 2005

(Formerly SunWise Elite CI Canadian Conservative Portfolio)

F-29


To provide a balance between income and capital growth at lower thanaverage levels of volatility by obtaining exposure primarily to equity, equity-related and fixed income securities of Canadian issuers.



Underlying Fund

Portfolio Series Conservative Fund


To provide a balance between income and capital growth at lower thanaverage levels of volatility by investing in income and equity mutual funds.





CI Canadian Bond Fund .....................................................................23.1%Signature High Income Fund .............................................................17.2%Signature Corporate Bond Fund .......................................................11.6%Signature Select Canadian Fund ........................................................6.3%Synergy Canadian Corporate Class ....................................................6.2%CI Canadian Investment Fund .............................................................6.1%CI Global Bond Fund ............................................................................6.0%CI American Value Corporate Class ...................................................5.4%CI International Value Fund .................................................................5.3%CI International Fund ...........................................................................3.3%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 60% SCM UniverseTotal Return Bond Index, 20% S&P/TSX Composite Index and 20% MSCIWorld Index.




Fund

Fac

t She

ets

2005

2005

2005

3.5*

5.1*

4.0*



10

5

0

-5

2006

2006

2006

9.0 9.3 9.4

$11,380$11,396$11,490

$10,280



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Portfolio Series Income Fund Inception Date: October 31, 2005

(Formerly SunWise Elite CI Canadian Income Portfolio)

SunWise EliteF-30


To seek income and modest capital appreciation by obtaining exposureprimarily to equity, equity-related and fixed income securities of Canadianissuers.



Underlying Fund

Portfolio Series Income Fund


To emphasize income by investing primarily in income-oriented mutualfunds. The Underlying Fund may also invest in equity mutual funds toachieve modest capital appreciation.




Top Holdings of the Underlying Fund(December 31, 2006)

Signature High Income Fund ...........................................................24.2%CI Canadian Bond Fund .....................................................................19.5%CI Global Bond Fund ..........................................................................15.1%Signature Corporate Bond Fund .......................................................14.7%CI Global High Dividend Advantage Fund .......................................10.9%Signature Income & Growth Fund ....................................................10.1%Signature Dividend Fund .....................................................................5.0%

Performance








1 year 3 years 5 years 10 years LifeClass A 6.6 – – – 8.1Class B 6.4 – – 8.0Class C 6.7 – – – 8.5Blended Index (%) 7.7 – – – 9.3

2005

2005

2005

2.7*

2.7* 3.0*



10

5

0

-5

2006

2006

2006

6.6

6.4 6.7

$10,990$11,089

$10,930$10,950



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Portfolio Series Balanced Growth Fund Inception Date: October 31, 2005

(Formerly SunWise Elite CI Global Balanced Portfolio)

F-31


To provide long-term capital growth with a moderate level of risk andvolatility by obtaining exposure primarily to equity, equity-related and fixedincome securities of issuers located anywhere in the world.



Underlying Fund

Portfolio Series Balanced Growth Fund


To provide long-term capital growth with a moderate level of risk andvolatility by investing directly in other mutual funds managed by CIInvestments Inc.





CI Canadian Bond Fund .....................................................................14.0%Signature Select Canadian Fund ......................................................10.2%CI Canadian Investment Fund .............................................................9.8%CI International Value Fund .................................................................9.3%Signature High Income Fund ...............................................................8.3%CI International Fund ...........................................................................7.4%Signature Corporate Bond Fund .........................................................5.6%CI American Value Corporate Class ...................................................5.2%CI American Managers Corporate Class ............................................5.1%Harbour Fund .......................................................................................4.9%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 40% MSCI WorldIndex, 30% SCM Universe Total Return Bond Index and 30% S&P/TSXComposite Index.


The following table shows the annual compound total return of the Fund,as compared to a blend of 40% MSCI World Index, 40% MSCI WorldIndex, 30% SCM Universe Total Return Bond Index and 30% S&P/TSXComposite Index.


Fund

Fac

t She

ets

2005

2005

2005

3.0*

3.0* 3.4*



15

10

5

0

-5

2006

2006

2006

11.5

11.9

12.1

$11,590$12,026

$11,530$10,480



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Portfolio Series Conservative Balanced Fund Inception Date: October 31, 2005

(Formerly SunWise Elite CI Global Conservative Portfolio)

SunWise EliteF-32


To provide a conservative total return with lower than average volatility byobtaining exposure primarily to equity, equity-related and fixed incomesecurities of issuers located anywhere in the world.



Underlying Fund

Portfolio Series Conservative Balanced Fund


To provide a conservative total return with lower than average volatility byinvesting directly in other mutual funds managed by CI Investments Inc.


To provide a conservative total return with lower than average volatility byinvesting directly in other mutual funds managed by CI. The portfolio advisoruses strategic asset allocation as the principal investment strategy to createa portfolio diversified by investment style, asset class and geographicregion. This generally includes Canadian equity, U.S. equity, internationalequity, Canadian fixed income and global fixed income securities.


CI Canadian Bond Fund .....................................................................19.0%Signature High Income Fund .............................................................14.1%Signature Corporate Bond Fund .........................................................9.5%CI Canadian Investment Fund .............................................................7.0%CI International Value Fund .................................................................6.3%Signature Select Canadian Fund ........................................................6.2%CI International Fund ...........................................................................5.4%CI Global Bond Fund ............................................................................4.9%CI American Value Corporate Class ...................................................4.2%CI American Small Companies Fund .................................................4.2%

Performance








1 year 3 years 5 years 10 years LifeClass A 9.5 - – – 11.1Class B 10.0 – – – 12.1Class C 9.9 – – – 12.1Blended Index (%) 11.5 – – – 13.6

2005

2005

2005

3.2* 3.8*

3.9*



15

10

5

0

-5

2006

2006

2006

9.5 10

.0

9.9

$11,420$11,607

$11,420$10,300



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Portfolio Series Growth Fund Inception Date: October 31, 2005

(Formerly SunWise Elite CI Global Growth Portfolio)

F-33


To provide long-term capital growth by obtaining exposure primarily toequity, equity-related and fixed income securities of issuers locatedanywhere in the world.



Underlying Fund

Portfolio Series Growth Fund


To provide long-term capital growth by investing directly in other mutualfunds managed by CI Investments Inc.





CI International Value Fund ...............................................................11.3%CI Canadian Investment Fund ...........................................................10.8%Signature Select Canadian Fund ......................................................10.2%CI Canadian Bond Fund .......................................................................9.3%CI International Fund ...........................................................................8.5%CI American Value Corporate Class ...................................................6.3%Harbour Fund .......................................................................................5.8%Signature High Income Fund ...............................................................5.6%CI American Small Companies Fund ..................................................5.1%CI American Managers Corporate Class ............................................5.1%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 50% MSCI WorldIndex, 30% S&P/TSX Composite Index and 20% SCM Universe TotalReturn Bond Index.


The following table shows the annual compound total return of the Fund, ascompared to a blend of 50% MSCI World Index, 30% S&P/TSX CompositeIndex and 20% SCM Universe Total Return Bond Index.


Fund

Fac

t She

ets

2005

2005

2005

3.5*

2.9* 3.

4*



15

10

5

0

-5

2006

2006

2006

11.9 12.4

12.9

$11,670$12,235

$11,570$11,580



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite Portfolio Series Maximum Growth Fund Inception Date: October 31, 2005

(Formerly SunWise Elite CI Global Maximum Growth Portfolio)

SunWise EliteF-34


To provide above-average long-term capital growth by obtaining exposureprimarily to equity, equity-related and fixed income securities of issuerslocated anywhere in the world.



Underlying Fund

Portfolio Series Maximum Growth Fund


To provide above-average long-term capital growth by investing directly inother mutual funds managed by CI. Investments Inc. The portfolio may havea medium-to-higher level of risk and volatility.


The portfolio advisor uses strategic asset allocation as the principalinvestment strategy to create a portfolio diversified by investment style,asset class and geographic region. This generally includes Canadian equity,U.S. equity and international equity securities.



CI Canadian Investment Fund ...........................................................14.5%Signature Select Canadian Fund ......................................................14.1%CI International Value Fund ...............................................................12.1%CI International Fund .........................................................................10.4%CI American Value Corporate Class ..................................................7.2%Synergy Canadian Corporate Class ....................................................6.9%Harbour Fund .......................................................................................6.7%CI American Equity Fund .....................................................................6.2%CI American Managers Corporate Class ............................................6.0%Synergy American Fund ......................................................................6.0%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 70% MSCI World Indexand 30% S&P/TSX Composite Index.


The following table shows the annual compound total return of the Fund, ascompared to a blend of 70% MSCI World Index and 30% S&P/TSXComposite Index.


2005

2005

2005

3.8*

3.4* 3.7*



20

15

10

5

0

-5

2006

2006

2006

14.1

14.6

15.1

$11,940$12,658

$11,850$11,840



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Canadian Bond Fund Inception Date: October 31, 2005

F-35


To obtain long-term total return by obtaining exposure primarily to Canadianfixed income securities.



Underlying Fund

CI Canadian Bond Fund


To obtain long-term total return.


It invests primarily in fixed income securities of Canadian governments andcompanies that the portfolio advisor believes offer an attractive yield andthe opportunity for capital gains.

The portfolio advisor may use techniques such as analyzing:

• the expected direction of interest rates

• the yield curve, which is an evaluation of the relative value betweenvarious terms to maturity

• credit ratings and credit risk

• expected performance relative to other types of fixed income securities.


Canadian Government Bond 6% 06/01/08.........................................8.3%Canadian Government Bond 5.75% 06/01/33....................................4.2%Canadian Government Bond Series XY54 4% 09/01/10 ...................3.8%Canadian Government Bond 7.25% 06/01/07....................................3.7%Canadian Government Bond 5% 06/01/14.........................................3.4%Canadian Government Bond 3% 06/01/07.........................................3.1%Canadian Government Bond 4.5% 06/01/15......................................2.5%Canada Housing Trust No. 1 4.75% 03/15/07....................................2.4%Canadian Government Bond, 4% 06/01/16........................................2.3%55 Ontario School Board Trust 5.9% 06/02/33...................................2.0%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to the SCM Universe Total ReturnBond Index.


The following table shows the annual compound total return of the Fund, ascompared to the SCM Universe Total Return Bond Index.

1 year 3 years 5 years 10 years LifeClass A 2.4 – – – 3.2Class B 2.5 – – – 3.4Class C 2.6 – – – 3.3SCM Universe Total Return Bond Index (%) 4.0 – – – 4.9

Fund

Fac

t She

ets

2005

2005

2005

1.3* 1.5*

1.3*



5

0

-5

2006

2006

2006

2.4 2.5 2.6

$10,390

$10,577$10,400

$10,370

Class AClass BClass CScotia Capital UniverseTotal Return Bond Index


$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Global Bond Fund Inception Date: October 31, 2005

SunWise EliteF-36


To obtain long-term total return by obtaining exposure primarily to foreignfixed income securities.



Underlying Fund

CI Global Bond Fund


To obtain long-term total return.


It invests primarily in fixed income and floating rate securities ofgovernments and companies throughout the world that the portfolio advisorbelieves offer an attractive yield and opportunity for capital gains. TheUnderlying Fund may make large investments in any country, includingemerging markets and emerging industries of developed markets, and inhigh yield securities of developed markets.


New South Wales Treasury Corp., 7% 12/01/10...............................5.4%Mexico Government Bond 9% 12/20/12 ............................................5.2%United Kingdom Gilt 5% 03/07/25......................................................4.1%United States Treasury Note/Bond 4.375% 01/31/08.......................3.8%Poland Government Bond 5.75% 03/24/10 ........................................3.2%Israel Government Bond 7.5% 03/31/14 ............................................3.2%Netherlands Government Bond 3% 01/15/10....................................3.0%Norway Government Bond 5.5% 05/15/09 ........................................2.8%South Africa Government Bond 13% 08/31/10..................................2.8%Republic of Brazil 12.5% 01/05/16 .....................................................2.7%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to the J.P Morgan Global GovernmentBond Index.


The following table shows the annual compound total return of the Fund, ascompared to the J.P. Morgan Global Government Bond Index.

1 year 3 years 5 years 10 years LifeClass A 4.2 – – – 3.3Class B 4.3 – – – 3.5Class C 4.4 – – – 3.3J.P. Morgan Global Government Bond Index (%) 6.2 – – – 3.8

2005

2005

2005

-0.3

*

-0.2

*

-0.6

*



5

0

-5

2006

2006

2006

4.2 4.3

4.4

$10,380

$10,447$10,410$10,390

Class AClass BClass CJ.P. Morgan GlobalGovernment Bond Index


$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Signature Dividend Fund Inception Date: October 31, 2005

F-37


To generate a high level of dividend income and to preserve capital byobtaining exposure primarily to equity, equity-related and fixed incomesecurities of Canadian issuers.



Underlying Fund

Signature Dividend Fund


To generate a high level of dividend income and to preserve capital.


It invests primarily in preferred shares and dividend paying common sharesof Canadian companies.

It may also invest in other common shares, fixed income securities andincome trusts. The Underlying Fund may also invest in foreign securities.


Toronto-Dominion Bank........................................................................3.4%Royal Bank of Canada ..........................................................................2.0%TransCanada Corp.................................................................................1.8%Enbridge Inc. .........................................................................................1.7%Cameco Corp.........................................................................................1.7%Manulife Financial Corp. ......................................................................1.6%Imperial Oil Ltd......................................................................................1.5%Cia Vale do Rio Doce............................................................................1.4%Barrick Gold Corp..................................................................................1.4%General Electric Co. ..............................................................................1.4%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to a blend of 60% S&P/TSX CompositeIndex and 40% BMO Nesbitt Burns 50 Preferred Total Return Index.


The following table shows the annual compound total return of the Fund, ascompared to a blend of 60% S&P/TSX Composite Index and 40% BMONesbitt Burns 50 Preferred Total Return Index.


Fund

Fac

t She

ets

2005

2005

2005

3.3* 3.6*

3.5*



15

10

5

0

-5

2006

2006

2006

10.6

10.7

10.7

$11,460

$11,892$11,470

$11,430



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Signature High Income Fund Inception Date: October 31, 2005

SunWise EliteF-38


To generate a high level of income and long-term capital growth byobtaining exposure primarily to high-yielding equity and equity related andfixed income securities of Canadian issuers.



Underlying Fund

Signature High Income Fund


To generate a high level of income and long-term capital growth.


It invests primarily in high-yielding equity securities and Canadian corporatebonds.


ARC Energy Trust ..................................................................................2.4%BNP Paribas SA ....................................................................................2.3%H&R REIT...............................................................................................2.0%Penn West Energy Trust .......................................................................1.9%RioCan REIT...........................................................................................1.8%Calloway REIT .......................................................................................1.7%Inter Pipeline Fund LP...........................................................................1.5%BCE Inc. (CAD).......................................................................................1.3%Vermilion Energy Trust..........................................................................1.2%Bank of America Corp. .........................................................................1.1%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to the SCM Universe Total Return BondIndex and a blend of 67% S&P/TSX Capped Income Trust Total Return Indexand 33% Merrill Lynch U.S. High Yield Master II Index (HOAO).


The following table shows the annual compound total return of the Fund, ascompared to the SCM Universe Total Return Bond Index and a blend of 67%S&P/TSX Capped Income Trust Total Return Index and 33% Merrill LynchU.S. High Yield Master II Index (HOAO).

1 year 3 years 5 years 10 years LifeClass A 5.9 – – – 12.0Class B 6.2 – – – 12.7Class C 6.3 – – – 11.7SCM Universe Total Return Bond Index (%) 4.0 – – – 4.9Blended Index (%) 2.4 – – – 9.6

2005

2005

2005

7.7* 8.

2*

7.0*



10

5

0

-5

2006

2006

2006

5.9 6.2

6.3

$11,370$11,131$10,577

$11,490$11,410

Class AClass BClass CBlended IndexScotia Capital UniverseTotal Retun Bond Index


$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Money Market Fund Inception Date: October 31, 2005

F-39


To earn income at the highest rate of return that is consistent withpreserving capital and maintaining liquidity by obtaining exposure to moneymarket instruments.



Underlying Fund

CI Money Market Fund


To earn income at the highest rate of return that is consistent withpreserving capital and maintaining liquidity.


It invests primarily in money market instruments that mature in less than365 days. These include:

• short-term debt obligations issued or guaranteed by the governments ofCanada, any province or any agency of these governments

• commercial paper and other high quality short-term debt obligations ofCanadian corporations and Canadian chartered banks. It may also investin foreign securities.


HSBC Bank Canada BDN 4.33% 01/23/2007.....................................4.1%CIBC BA 4.31% 02/15/2007 ................................................................4.1%Royal Bank of Canada BA 4.3% 01/02/2007......................................3.9%Province of Nova Scotia Prom Note 4.2% 01/18/2007 .....................3.8%Merrill Lynch 4.43% 11/09/2009.........................................................3.7%Province of Ontario T-Bill 4.18% 02/12/2007.....................................3.5%Canadian Imperial Bank of Commerce, 4.44571% 07/14/2008........3.3%Credit Agricole SA 4.39% 10/06/2008 ...............................................3.3%General Electric Capital Corp., 4.48357% 08/27/2008......................3.3%Government of Canada T-Bill 4.15% 01/11/2007 ..............................3.3%

Performance





The following line graph shows the growth of a hypothetical $10,000investment in the Fund.


The following table shows the annual compound total return of the Fund.

1 year 3 years 5 years 10 years LifeClass A 2.6 – – – 2.5Class B 2.6 – – – 2.7Class C 2.7 - – – 2.6

Fund

Fac

t She

ets

2005

2005

2005

0.3* 0.

6*

0.3*



5

0

-5

2006

2006

2006

2.6 2.6

2.7

$10,300$10,320$10,290



$5,000

$10,000

$15,000

Oct ’05

Nov ’05

Dec ’05

Jan ’06

Feb ’0

6

Mar ’06

Apr ’06

May ’06

Jun ’06Jul ’0

6

Aug ’06

Sep ’06

Oct ’06

Nov ’06

Dec ’06

SunWise Elite CI Harbour Foreign Growth & Income Corporate Fund Inception Date: April 2007

SunWise EliteF-40


To obtain maximum long term capital growth by obtaining exposureprimarily to equity, equity-related and fixed income securities of issuerslocated anywhere in the world.



Underlying Fund

Harbour Foreign Growth & Income Corporate Class


To obtain long-term total return through a prudent balance of income andcapital appreciation.


It invests primarily in equity and equity-related securities and fixed incomesecurities of issuers located throughout the world. The Underlying Fund isnot limited to how much it invests in a country or asset class or keepsinvested in each asset class. This will vary according to market conditions.


Royal Bank of Scotland Group PLC......................................................3.5%Nestle SA, Registered Shares .............................................................3.4%Citigroup Inc. .........................................................................................2.7%Diageo PLC............................................................................................2.6%Rio Tinto PLC.........................................................................................2.5%Vinci SA.................................................................................................2.2%BHP Billiton Ltd. ....................................................................................2.1%Air Liquide .............................................................................................2.0%Schneider Electric SA...........................................................................2.0%Patterson-UTI Energy Inc......................................................................1.9%

Performance


The Fund was introduced April, 2007. As a result, past performanceinformation for the Fund (including year-by-year changes in performance,the hypothetical growth of a $10,000 investment in the Fund, and annualcompound total returns for the Fund) currently is unavailable. Pastperformance information is instead provided for the class of securities of theUnderlying Fund which we believe most closely approximates the coststructure of an investment in the Fund. The performance of the Fund couldbe expected to be different from that indicated for the Underlying Fund.Past performance information should not be construed as being indicative ofthe future performance of the Fund or the Underlying Fund.

Year-by-year returns of the Underlying Fund (%)

The following chart shows the year-by-year annual performance of theUnderlying Fund. The chart shows, in percentage terms, how much aninvestment made on January 1 in each year would have grown or decreasedby December 31 in that year.

Overall past performance of the Underlying Fund

The following line graph shows the growth of a hypothetical $10,000investment in the Underlying Fund, as compared to a blend of 60% MSCIWorld Index and 40% J.P. Morgan Global Government Bond Index.

Compound Annual Returns of the Underlying Fund as at December 31, 2006

The following table shows the annual compound total return of theUnderlying Fund, as compared to a blend of 60% MSCI World Index and40% J.P. Morgan Global Government Bond Index.

1 year 3 years 5 years 10 years LifeUnderlying Fund (%) 13.0 5.5 – – 6.9Blended Index (%) 15.0 6.4 – – 5.8

2003

2004

2005

11.3

2.3

1.6

2006

13.0

Underlying Fund

15

10

5

0

-5

$12,517$13,070

Underlying FundBlended Index

Dec’02

Dec’03

Dec ’06

Dec’04

Dec’05

$5,000

$10,000

$15,000

SunWise Elite CI Global High Dividend Advantage Fund Inception Date: April, 2007

F-41


To generate a stable stream of income and to preserve and enhance the netasset value of the fund by obtaining exposure primarily to income-generating equity, equity-related and fixed income securities of issuerslocated anywhere in the world.



Underlying Fund

CI Global High Dividend Advantage Fund


To provide investors with a stable stream of tax efficient monthlydistributions, consisting mostly of capital gains and returns of capital, of$0.05 per unit ($0.60 per annum), and to endeavor to preserve and enhancethe net asset value of the Underlying Fund.


In order to achieve its objectives, the Underlying Fund invests primarily inequity securities of Canadian issuers, also known as its Canadian equityportfolio, as well as in dividend-paying common and preferred shares,debentures, income trusts, equity-related securities and convertiblesecurities issued by issuers anywhere in the world. The Underlying Fundalso will enter into one or more derivatives to obtain exposure to one ormore baskets of securities, also called equity baskets, consisting primarilyof dividend-paying common and preferred shares, debentures, incometrusts, equity-related securities and convertible securities issued by issuersanywhere in the world, together with the earnings thereon.


Duke Energy Corp. ................................................................................2.3%AT&T Inc................................................................................................2.1%Verizon Communications Inc. ...............................................................2.1%Citizens Communications Co................................................................2.0%AllianceBernstein Holding LP...............................................................2.0%Pfizer Inc................................................................................................2.0%KeySpan Corp........................................................................................1.8%Diageo PLC............................................................................................1.5%Idearc Inc...............................................................................................1.5%UST Inc. .................................................................................................1.5%

Performance

The Fund was introduced April, 2007. As a result, past performanceinformation for the Fund (including year-by-year changes in performance,the hypothetical growth of a $10,000 investment in the Fund, and annualcompound total returns for the Fund) currently is unavailable. Theperformance of the Fund could be expected to be different from thatindicated for the Underlying Fund. Past performance information should notbe construed as being indicative of the future performance of the Fund orthe Underlying Fund.


Performance information will be reported once the Underlying Fund hasbeen in existence for more than one year.





Fund

Fac

t She

ets

SunWise Elite TD Canadian Bond Fund Inception Date: April, 2007

SunWise EliteF-42


To earn a high rate of interest income by obtaining exposure primarily toCanadian fixed income securities.



Underlying Fund

TD Canadian Bond Fund


To earn a high rate of interest income through investments in high-qualitybonds and debentures issued principally by Canadian borrowers in Canadiandollars. These securities may consist of debt obligations of, or guaranteed by,Canadian federal, provincial or municipal governments, Canadian charteredbanks, Canadian loan or trust companies or Canadian corporations.


The portfolio adviser seeks to achieve the fundamental investment objectiveof the Underlying Fund by focusing on the Canadian corporate debt marketas well as global macroeconomic trends. The portfolio adviser believes astrategy using rigorous bottom-up security selection in regard to the macroenvironment will add value and enhance long- term performance while atthe same time reducing risk. Generally, the Underlying Fund employs a ’’buy-and-hold’’ strategy, which keeps Underlying Fund expenses lower.


Government of Canada 5.75% due June 01, 2033 ............................6.0%Province of Ontario Residual 4.67% due June 02, 2027 ...................3.7%Government of Canada Residual 4.27% due June 01, 2025.............2.5%BNS Capital Trust, Conv. 7.31% due June 30, 2011 ..........................2.1%Government of Canada 5.75% due June 01, 2029 ............................2.0%Government of Canada Real Return 4.25% due December 01, 2026 .1.9%Province of Quebec Real Return 4.50% due December 01, 2021.....1.7%Manulife Financial Capital Trust 6.70% due June 30, 2012..............1.7%Sun Life Capital Trust 6.865% due December 31, 2011 ....................1.3%Alberta Capital Finance Authority 4.45% due December 15, 2025 ..1.3%

Performance

The Fund was introduced April, 2007. As a result, past performanceinformation for the Fund (including year-by-year changes in performance,the hypothetical growth of a $10,000 investment in the Fund, and annualcompound total returns for the Fund) currently is unavailable. Pastperformance information is instead provided for the class of securities of theUnderlying Fund which we believe most closely approximates the coststructure of an investment in the Fund. The performance of the Fund couldbe expected to be different from that indicated for the Underlying Fund.

Past performance information should not be construed as being indicative ofthe future performance of the Fund or the Underlying Fund.




The following line graph shows the growth of a hypothetical $10,000investment in the Fund, as compared to the SCM Universe Total ReturnBond Index.


The following table shows the annual compound total return of the Fund, ascompared to the SCM Universe Total Return Bond Index.

1 year 3 years 5 years 10 years LifeUnderlying Fund (%) 2.6 5.4 6.5 6.9 8.4SCM Universe Total Return Bond Index (%) 4.1 5.9 6.6 6.9 9.1

1997

10.7

1998

9.0

1999

-0.9

2000

11.3

2001

6.4

2002

9.0

2003

7.7

2004

7.2

2005

6.4

2006

2.6

Underlying Fund

15

10

5

0

-5

$19,416$19,435

Underlying FundScotia Capital UniverseTotal Return Bond Index

Dec ’96

Dec ’06

$10,000

$20,000

Dec ’97

Dec ’98

Dec ’99

Dec ’00

Dec ’01

Dec ’02

Dec ’03

Dec ’04

Dec ’05

SunWise Elite Dynamic Global Value Fund Inception Date: April, 2007

F-43


To provide long-term capital growth through exposure to a broadlydiversified portfolio consisting primarily of equity and equity-relatedsecurities of issuers located outside of Canada.



Underlying Fund

Dynamic Global Value Fund


To provide long term capital growth through investment in a broadlydiversified portfolio consisting primarily of equity securities of businessesbased outside of Canada.


The Underlying Fund invests in a broadly diversified portfolio consistingprimarily of equity securities of businesses situated outside of Canada.Based on the portfolio advisor’s view of the global capital markets, theUnderlying Fund may invest from time to time in a limited number ofcountries and areas of the world. Investment analysis for this UnderlyingFund follows a bottom-up approach, which emphasizes careful companyspecific analysis. Using a value investment approach, this Underlying Fundinvests in companies that represent good value based on current stock pricerelative to the company’s intrinsic value.


Hagermeyer NV ....................................................................................2.5%Electricite de France .............................................................................2.3%Lehman Brothers Holdings Inc.............................................................2.0%Lincoln National Corporation ...............................................................2.0%SABMiller PLC ......................................................................................2.0%Compagnie de Saint-Gobain ................................................................2.0%SUPERVALUE INC. ................................................................................1.9%Wyndham Worldwide Corp..................................................................1.9%Bank Rakyat ..........................................................................................1.8%Zijin Mining Group Co. Ltd ...................................................................1.8%

Performance

The Fund was introduced April, 2007. As a result, past performanceinformation for the Fund (including year-by-year returns, the hypotheticalgrowth of a $10,000 investment in the Fund, and annual compound totalreturns for the Fund) is not currently available. Past performance informationis instead provided for the class of securities of the Underlying Fund whichwe believe most closely approximates the cost structure of an investment inthe Fund. Performance of the Fund could be expected to be different from

that indicated for the Underlying Fund. Past performance information shouldnot be construed as being indicative of future performance of the Fund orthe Underlying Fund.




The following line graph shows the growth of a hypothetical $10,000investment in the Underlying Fund, as compared to the MSCI World Index.


The following table shows the annual compound total return of theUnderlying Fund, as compared to the MSCI World Index.

1 year 3 years 5 years 10 years LifeUnderlying Fund (%) 22.8 18.1 9.1 9.0 8.2MSCI World Index (%) 20.6 11.3 3.8 6.4 10.9

Fund

Fac

t She

ets

1997

22.0

1998

9.2

1999

45.8

2000

-14.

7

2001

-7.9

2002

-17.

5

2003

13.9

2004

9.3

2005

22.7

2006

22.8

Underlying Fund

50

40

30

20

10

0

-10

-20

$19,490

$24,052

Underlying FundMSCI World Index (%)

Oct ’96

Oct ’06

Dec ’06

$25,000

$20,000

$15,000

$10,000

$5,000

Oct ’97

Oct ’98

Oct ’99

Oct ’00

Oct ’01

Oct ’02

Oct ’03

Oct ’04

Oct ’05

SunWise Elite Mackenzie Cundill Value Fund Inception Date: April, 2007

SunWise EliteF-44


To obtain long-term capital growth by obtaining exposure primarily to equityand equity-related securities of issuers located anywhere in the world.



Underlying Fund

Mackenzie Cundill Value Fund


To provide long-term capital growth from investments primarily in equitysecurities.


The Underlying Fund may invest the majority its assets in the securities ofcompanies in a single country or a single industry depending on prevailingmarket conditions. The portfolio advisor’s investment approach is based ona fundamental value philosophy: invest in securities which are tradingbelow their estimated intrinsic value, determined by reviewing corporatebalance sheets, earnings statements, dividend records, business prospects,management strengths and potential catalysts to realize shareholder value.Preservation of invested capital is the hallmark of the contrarian, valueapproach followed by the portfolio advisor.


BCE Inc. .................................................................................................5.6%DIRECTV Group Inc. ..............................................................................4.9%IFIL Investments SpA............................................................................4.7%Kirin Brewery Co. Ltd............................................................................4.6%Korea Electric Power Corp. ..................................................................4.4%Liberty Meida Hldg Corp. Capital ........................................................4.4%Munchener Ruckers AG .......................................................................4.2%Nikko Cordial Corp................................................................................3.5%Nippon Telegraph & Telephone Corp. .................................................3.4%Pfizer Inc................................................................................................3.1%

Performance









1 year 3 years 5 years 10 years LifeUnderlying Fund (%) 9.4 11.1 9.7 – 14.0MSCI World Index (%) 20.7 11.4 3.8 – 2.9

1999

32.7

2000

19.9

2001

12.8

2002

-14.

2

2003

34.6

2004

11.9

2005

12.1

2006

9.4

Underlying Fund

40

30

20

10

0

-10

-20

$12,598

$29,009


Oct ’98

Oct ’99

Dec ’06

Oct ’06

Oct ’00

Oct ’01

Oct ’02

Oct ’03

Oct ’04

Oct ’05

$10,000

$20,000

$30,000

SunWise Elite CI Harbour Foreign Equity Corporate Fund Inception Date: April, 2007

F-45


To obtain long term capital growth by obtaining exposure primarily to equityand equity-related securities of issuers located anywhere in the world.



Underlying Fund

Harbour Foreign Equity Corporate Class


To obtain long-term capital growth consistent with the preservation ofcapital.


It invests primarily in equity and equity-related securities of large and mid-capitalization companies around the world that the portfolio advisorbelieves have good potential for future growth and are attractively priced.The Underlying Fund will make investments chiefly in leading industrializednations and may from time to time invest in emerging markets.


Nestle SA, Registered Shares .............................................................5.4%Royal Bank of Scotland Group PLC......................................................5.2%Citigroup Inc. .........................................................................................4.3%Diageo PLC............................................................................................4.2%Rio Tinto PLC.........................................................................................4.0%Vinci SA.................................................................................................3.6%BHP Billiton Ltd. ....................................................................................3.4%Air Liquide .............................................................................................3.1%Schneider Electric SA...........................................................................3.1%Holcim Ltd. ............................................................................................2.9%

Performance

The Fund was introduced April, 2007. As a result, past performanceinformation for the Fund (including year-by-year changes in performance,the hypothetical growth of a $10,000 investment in the Fund, and annualcompound total returns for the Fund) currently is unavailable. Pastperformance information is instead provided for the class of securities of theUnderlying Fund which we believe most closely approximates the coststructure of an investment in the Fund. The performance of the Fund couldbe expected to be different from that indicated for the Underlying Fund.Past performance information should not be construed as being indicative ofthe future performance of the Fund or the Underlying Fund.







1 year 3 years 5 years 10 years LifeUnderlying Fund (%) 16.6 8.2 4.7 – 4.8MSCI World Index (%) 21.0 11.2 3.8 – 3.8

Fund

Fac

t She

ets

2002

2003

2004

-4.4

4.2 4.

9

2005

2006

3.5

16.6

Underlying Fund

20

15

10

5

0

-5

$12,056$12,600


Dec ’01

Dec ’02

Dec ’06

Dec ’03

Dec ’04

Dec ’05

$5,000

$10,000

$15,000

SunWise Elite RBC Canadian Dividend Fund Inception Date: April, 2007

SunWise EliteF-46


To achieve long-term total returns consisting of dividend income and regularand modest long-term capital growth. The Fund invests primarily in commonand preferred shares of major companies with above average dividendyields.



Underlying Fund

RBC Canadian Dividend Fund


To achieve long-term total returns consisting of:

• regular dividend income, which benefits from the preferential taxtreatment given to dividend income; and

• modest long-term capital growth.

The Underlying Fund invests primarily in common and preferred shares ofmajor Canadian companies with above average dividend yields.


The Underlying Fund’s investment process is primarily based onfundamental research, although the portfolio manager will also considerquantitative and technical factors. Stock selection decisions are ultimatelybased on an understanding of the company, its business and its outlook.


Toronto-Dominion Bank........................................................................7.5%Royal Bank of Canada ..........................................................................7.3%CIBC .......................................................................................................5.5%Bank of Nova Scotia.............................................................................5.2%Manulife Financial Corp. ......................................................................4.4%Bank of Montreal..................................................................................4.1%Transcanada Corp. ................................................................................3.6%Canadian National Railway .................................................................3.0%Enbridge Inc. .........................................................................................2.8%Power Corp. of Canada ........................................................................2.8%

Performance






The following line graph shows the growth of a hypothetical $10,000investment in the Underlying Fund, as compared to the S&P/TSX CappedTotal Return Index.

Compound Annual Returns of the Underlying Fundas at December 31, 2006

The following table shows the annual compound total return of theUnderlying Fund, as compared to the S&P/TSX Capped Total Return Index.

1 year 3 years 5 years 10 years LifeUnderlying Fund (%) 15.1 16.3 14.1 13.9 –S&P/TSX Composite Capped Total Return Index 17.3 18.6 13.1 11.5 –

1997

35.4

1998

2.4

1999

2.5

2000

28.3

2001

4.4

2002

-0.5

2003

23.5

2004

12.9

2005

21.1

2006

15.1

Underlying Fund

40

30

20

10

0

-10

$29,747

$36,820

Underlying FundS&P/TSX Composite Index

Dec ’96

Dec ’97

Dec ’06

Dec ’98

Dec ’99

Dec ’00

Dec ’01

Dec ’02

Dec ’03

Dec ’04

Dec ’05

$40,000

$30,000

$20,000

$10,000

SunWise Elite RBC O’Shaughnessy International Equity Fund Inception Date: April, 2007

F-47


To provide long-term total return, consisting of capital growth and currentincome.



Underlying Fund

RBC O’Shaughnessy International Equity Fund


To provide a long-term total return, consisting of capital growth and currentincome.

The Underlying Fund invests primarily in equity securities of companiesoutside of North America based on Strategy Indexing, an investmentportfolio management model developed in 1995 by O’Shaughnessy CapitalManagement Inc. Strategy Indexing is a rigorous and disciplined approachto stock selection based on characteristics associated with above-averagereturns over long periods of time. Stocks, including American DepositoryReceipts (ADRs), are bought and held over the course of each year, with noattempt to “time the markets.”


To achieve the Underlying Fund’s objective, the portfolio manager:

• employs a proprietary quantitative approach to security selection basedon research and analysis of historical data

• invests the Underlying Fund’s assets in securities selected through theInternational Value Strategy and the International Growth Strategy.


Telecom Corp. of New Zealand ...........................................................1.1%Fiat SpA (Italy).......................................................................................1.1%Volvo AB (Sweden) ...............................................................................1.1%National Bank of Greece......................................................................1.1%Man AG (Germany)...............................................................................1.1%Swedbank (Sweden).............................................................................1.0%Fortis (Belgium) .....................................................................................1.0%UPM-Kymmene OYJ (Finland)..............................................................1.0%Stora Enso OYJ (Finland)......................................................................1.0%Banca Intesa (Italy) ...............................................................................1.0%

Performance

The Fund was introduced April, 2007. As a result, past performanceinformation for the Fund (including year-by-year changes in performance,the hypothetical growth of a $10,000 investment in the Fund, and annualcompound total returns for the Fund) currently is unavailable. Pastperformance information is instead provided for the class of securities of theUnderlying Fund which we believe most closely approximates the coststructure of an investment in the Fund. The performance of the Fund could

be expected to be different from that indicated for the Underlying Fund.Past performance information should not be construed as being indicative ofthe future performance of the Fund or the Underlying Fund.




The following line graph shows the growth of a hypothetical $10,000investment in the Underlying Fund, as compared to the MSCI EAFE TotalReturn Index (CDN$).


The following table shows the annual compound total return of theUnderlying Fund, as compared to the MSCI EAFE Total Return Index (CDN$).

1 year 3 years 5 years 10 years LifeUnderlying Fund (%) 22.8 – – – –

MSCI EAFE Total Return Index (CDN$) 25.9 – – – –

Fund

Fac

t She

ets

2005

12.2

*

2006

22.8

Underlying Fund*This number represents the period January 17, 2005 to December 31, 2005.

25

20

15

10

5

0

-5

$13,704$13,656

Underlying FundMSCI EAFE Index (%)

Feb ’0

5

Feb ’0

6

July ’06

July ’05

Dec ’06

$5,000

$10,000

$15,000

Financial Highlights

F-48 SunWise Elite

The following tables show selected key financial information about the Funds and is intended to help you understand the Funds’ financial performance for thepast two financial years. This information is derived from the audited annual financial statements of the Funds, with the exception of the Portfolio Turnover Rate.

The Unit Value of each Fund as at December 31 was as follows:

2005 2006Fund Name Class A Class B Class C Class A Class B Class C

SunWise Elite CI Global Fund 10.41 10.31 10.37 11.96 11.89 12.03

SunWise Elite CI Global Value Fund 10.34 10.19 10.34 11.69 11.59 11.82

SunWise Elite CI International Value Fund 10.49 10.52 10.53 12.34 12.44 12.52

SunWise Elite CI Synergy Global Corporate Fund 10.36 10.34 10.27 12.03 12.05 12.03

SunWise Elite Fidelity NorthStar® Fund 10.31 10.33 10.33 11.28 11.35 11.41

SunWise Elite Trimark Select Growth Fund 10.32 10.33 10.33 12.52 12.59 12.66

SunWise Elite CI International Balanced Fund 10.31 10.28 10.19 11.49 11.51 11.43

SunWise Elite Fidelity Global Asset Allocation Fund 10.16 10.17 10.16 11.57 11.64 11.63

SunWise Elite Trimark Global Balanced Fund 10.21 10.22 10.21 12.15 12.19 12.21

SunWise Elite Dynamic Power American Growth Fund 9.91 9.90 9.92 9.55 9.61 9.68

SunWise Elite CI American Value Fund 9.94 9.99 10.12 11.37 11.50 11.71

SunWise Elite CI Synergy American Fund 10.09 10.02 10.02 11.25 11.21 11.27

SunWise Elite CI Value Trust Corporate Fund 10.31 10.27 10.24 10.71 10.72 10.74

SunWise Elite Fidelity Growth America Fund 10.00 9.89 10.01 10.58 10.51 10.68

SunWise Elite AIM Canadian First Class Fund 10.70 10.57 10.52 12.24 12.15 12.16

SunWise Elite CI Canadian Investment Fund 10.69 10.90 10.71 12.03 12.32 12.15

SunWise Elite CI Harbour Fund 10.62 10.63 10.54 12.05 12.13 12.07

SunWise Elite CI Signature Select Canadian Fund 10.63 10.85 10.64 12.70 13.01 12.82

SunWise Elite CI Synergy Canadian Fund 10.69 10.63 10.74 12.43 12.41 12.59

SunWise Elite Fidelity True North® Fund 10.50 10.53 10.54 12.14 12.25 12.29

SunWise Elite Mackenzie Cundill Canadian Security Fund 10.94 10.29 10.29 11.75 11.10 11.15

SunWise Elite CI Canadian Asset Allocation Fund 10.40 10.41 10.41 11.27 11.33 11.35

SunWise Elite CI Harbour Growth & Income Fund 10.44 10.45 10.46 11.53 11.57 11.61

SunWise Elite Fidelity Canadian Asset Allocation Fund 10.40 10.43 10.41 11.51 11.60 11.60


F-49

Fina

ncia

l Hig

hlig

hts

2005 2006Fund Name Class A Class B Class C Class A Class B Class C

SunWise Elite Mackenzie Cundill Canadian Balanced Fund 10.32 10.33 10.19 10.89 10.95 10.82

SunWise Elite CI Signature Income & Growth Fund 10.54 10.63 10.55 11.81 11.94 11.88

SunWise Elite Trimark Income Growth Fund 10.23 10.22 10.24 11.35 11.38 11.42

SunWise Elite Portfolio Series Balanced Fund 10.58 10.52 10.39 11.81 11.79 11.66

SunWise Elite Portfolio Series Conservative Fund 10.35 10.51 10.40 11.28 11.49 11.38

SunWise Elite Portfolio Series Income Fund 10.27 10.27 10.30 10.95 10.93 10.99

SunWise Elite Portfolio Series Balanced Growth Fund 10.30 10.31 10.34 11.48 11.53 11.59

SunWise Elite Portfolio Series Conservative Balanced Fund 10.32 10.38 10.39 11.30 11.42 11.42

SunWise Elite Portfolio Series Growth Fund 10.35 10.29 10.34 11.58 11.57 11.67

SunWise Elite Portfolio Series Maximum Growth Fund 10.38 10.34 10.37 11.84 11.85 11.94

SunWise Elite CI Canadian Bond Fund 10.13 10.15 10.13 10.37 10.40 10.39

SunWise Elite CI Global Bond Fund 9.97 9.98 9.94 10.39 10.41 10.38

SunWise Elite CI Signature Dividend Fund 10.33 10.36 10.35 11.43 11.47 11.46

SunWise Elite CI Signature High Income Fund 10.77 10.82 10.70 11.41 11.49 11.37

SunWise Elite CI Money Market Fund 10.03 10.06 10.03 10.29 10.32 10.30


F-50 SunWise Elite

Ratios and Supplemental Data

SunWise Elite CI Global Fund

2005 2006

Net Assets ($) (000’s) 288 5,167

Portfolio Turnover Rate* (%) 0.06 9.18

Number of Units Outstanding

Class A 18,300 220,972

Class B 6,687 161,439

Class C 2,763 50,226

MERs (%)

Class A 3.92 3.90

Class B 3.38 3.37

Class C 2.91 2.89

SunWise Elite CI Global Value Fund

2005 2006

Net Assets ($) (000’s) 88 2,393



Class A 5,162 111,061

Class B 660 68,150

Class C 2,713 25,824

MERs (%)

Class A 3.87 3.92

Class B 3.32 3.39

Class C 2.87 2.91

SunWise Elite CI International Value Fund

2005 2006

Net Assets ($) (000’s) 425 10,799



Class A 16,347 439,975

Class B 17,330 240,444

Class C 6,784 190,021

MERs (%)

Class A 3.87 3.90

Class B 3.35 3.37

Class C 2.88 2.89

SunWise Elite CI Synergy Global Corporate Fund

2005 2006

Net Assets ($) (000’s) 138 7,856



Class A 8,501 388,256

Class B 1,976 184,422

Class C 2,919 80,120

MERs (%)

Class A 3.91 3.90

Class B 3.41 3.37

Class C 2.86 2.89

SunWise Elite Fidelity NorthStar® Fund

2005 2006

Net Assets ($) (000’s) 2,480 30,663



Class A 108,527 1,366,854

Class B 83,623 818,045

Class C 48,075 522,239

MERs (%)

Class A 4.00 4.06

Class B 3.49 3.53

Class C 3.01 3.05

SunWise Elite Trimark Select Growth Fund

2005 2006

Net Assets ($) (000’s) 1,005 16,520



Class A 65,488 712,420

Class B 11,126 331,566

Class C 20,714 270,598

MERs (%)

Class A 4.13 4.09

Class B 3.60 3.56

Class C 3.11 3.07


F-51

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SunWise Elite CI International Balanced Fund

2005 2006

Net Assets ($) (000’s) 196 3,150



Class A 10,020 88,895

Class B 6,006 88,976

Class C 3,078 96,656

MERs (%)

Class A 3.22 3.18

Class B 2.54 2.76

Class C 2.52 2.60

SunWise Elite Fidelity Global Asset Allocation Fund

2005 2006

Net Assets ($) (000’s) 159 2,558



Class A 8,915 84,226

Class B 5,257 73,587

Class C 1,512 62,538

MERs (%)

Class A 3.22 3.26

Class B 2.79 2.84

Class C 2.62 2.67

SunWise Elite Trimark Global Balanced Fund

2005 2006

Net Assets ($) (000’s) 908 16,842



Class A 46,279 582,879

Class B 18,858 524,428

Class C 23,779 275,818

MERs (%)

Class A 3.29 3.23

Class B 2.88 2.79

Class C 2.72 2.64

SunWise Elite Dynamic Power American Growth Fund

2005 2006

Net Assets ($) (000’s) 210 2,965



Class A 10,185 192,122

Class B 9,732 81,897

Class C 1,282 35,399

MERs (%)

Class A 4.02 4.20

Class B 3.50 3.67

Class C 2.99 3.19

SunWise Elite CI American Value Fund

2005 2006

Net Assets ($) (000’s) 374 4,083



Class A 18,011 166,189

Class B 6,393 126,767

Class C 12,959 62,797

MERs (%)

Class A 3.85 3.90

Class B 3.34 3.37

Class C 2.88 2.89

SunWise Elite CI Synergy American Fund

2005 2006

Net Assets ($) (000’s) 120 2,439



Class A 5,820 122,850

Class B 559 68,662

Class C 5,548 25,527

MERs (%)

Class A 3.86 3.90

Class B 3.21 3.36

Class C 2.87 2.89


F-52 SunWise Elite


SunWise Elite CI Value Trust Corporate Fund

2005 2006

Net Assets ($) (000’s) 456 5,587



Class A 23,539 152,388

Class B 14,109 96,234

Class C 6,651 272,290

MERs (%)

Class A 3.87 3.90

Class B 3.34 3.37

Class C 2.87 2.89

SunWise Elite Fidelity Growth America Fund

2005 2006

Net Assets ($) (000’s) 178 1,095



Class A 14,413 45,266

Class B 373 36,676

Class C 2,973 21,565

MERs (%)

Class A 3.94 4.01

Class B 3.29 3.47

Class C 2.94 3.00

SunWise Elite AIM Canadian First Class Fund

2005 2006

Net Assets ($) (000’s) 722 13,199



Class A 35,452 654,461

Class B 29,031 312,795

Class C 3,461 114,109

MERs (%)

Class A 4.10 3.93

Class B 3.56 3.46

Class C 3.12 3.03

SunWise Elite CI Canadian Investment Fund

2005 2006

Net Assets ($) (000’s) 11,106 106,600



Class A 523,793 4,838,997

Class B 313,502 2,704,476

Class C 195,386 1,238,983

MERs (%)

Class A 3.76 3.79

Class B 3.29 3.31

Class C 2.88 2.89

SunWise Elite CI Harbour Fund

2005 2006

Net Assets ($) (000’s) 5,707 73,407



Class A 358,279 3,925,509

Class B 97,957 1,393,806

Class C 81,727 762,402

MERs (%)

Class A 3.76 3.79

Class B 3.28 3.31

Class C 2.88 2.89

SunWise Elite CI Signature Select Canadian Fund

2005 2006

Net Assets ($) (000’s) 3,094 40,385



Class A 128,632 1,752,479

Class B 95,998 883,514

Class C 64,403 518,315

MERs (%)

Class A 3.76 3.79

Class B 3.29 3.31

Class C 2.87 2.89


F-53

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SunWise Elite CI Synergy Canadian Fund

2005 2006

Net Assets ($) (000’s) 447 6,961



Class A 14,164 313,774

Class B 9,114 143,237

Class C 18,510 101,809

MERs (%)

Class A 3.76 3.80

Class B 3.29 3.32

Class C 2.88 2.90

SunWise Elite Fidelity True North® Fund

2005 2006

Net Assets ($) (000’s) 1,078 16,533



Class A 47,439 753,722

Class B 35,788 439,102

Class C 19,237 163,381

MERs (%)

Class A 3.84 3.90

Class B 3.37 3.42

Class C 2.96 3.00

SunWise Elite Mackenzie Cundill Canadian Security Fund

2005 2006

Net Assets ($) (000’s) 1,205 11,928



Class A 82,547 659,953

Class B 21,421 211,923

Class C 7,909 163,726

MERs (%)

Class A 4.06 4.03

Class B 3.55 3.55

Class C 3.32 3.13

SunWise Elite CI Canadian Asset Allocation Fund

2005 2006

Net Assets ($) (000’s) 819 10,903



Class A 21,134 362,804

Class B 32,689 315,740

Class C 24,917 285,154

MERs (%)

Class A 3.15 3.15

Class B 2.73 2.73

Class C 2.56 2.57

SunWise Elite CI Harbour Growth & Income Fund

2005 2006

Net Assets ($) (000’s) 11,746 118,510



Class A 626,485 5,472,295

Class B 256,333 3,004,315

Class C 241,290 1,779,464

MERs (%)

Class A 3.13 3.16

Class B 2.72 2.73

Class C 2.56 2.57

SunWise Elite Fidelity Canadian Asset Allocation Fund

2005 2006

Net Assets ($) (000’s) 3,214 32,626



Class A 155,979 1,301,372

Class B 85,244 864,398

Class C 67,561 656,230

MERs (%)

Class A 3.23 3.26

Class B 2.80 2.84

Class C 2.64 2.68


F-54 SunWise Elite


SunWise Elite Mackenzie Cundill Canadian Balanced Fund

2005 2006

Net Assets ($) (000’s) 2,085 16,866



Class A 141,417 841,865

Class B 41,014 408,350

Class C 19,774 298,553

MERs (%)

Class A 3.35 3.41

Class B 2.93 2.98

Class C 2.78 2.82

SunWise Elite CI Signature Income & Growth Fund

2005 2006

Net Assets ($) (000’s) 4,718 53,206



Class A 201,387 2,640,618

Class B 139,394 1,124,154

Class C 105,564 724,487

MERs (%)

Class A 3.12 3.15

Class B 2.71 2.73

Class C 2.55 2.57

SunWise Elite Trimark Income Growth Fund

2005 2006

Net Assets ($) (000’s) 4,514 27,085



Class A 284,326 1,404,948

Class B 79,169 521,752

Class C 77,741 455,191

MERs (%)

Class A 3.34 3.29

Class B 2.92 2.86

Class C 2.75 2.70

SunWise Elite Portfolio Series Balanced Fund

2005 2006

Net Assets ($) (000’s) 9,020 118,117



Class A 416,994 5,608,523

Class B 284,680 3,292,370

Class C 154,949 1,120,079

MERs (%)

Class A 3.13 3.15

Class B 2.74 2.73

Class C 2.56 2.57

SunWise Elite Portfolio Series Conservative Fund

2005 2006

Net Assets ($) (000’s) 6,983 59,254



Class A 394,979 3,117,981

Class B 165,279 1,605,428

Class C 111,334 495,902

MERs (%)

Class A 3.04 3.05

Class B 2.67 2.68

Class C 2.58 2.57

SunWise Elite Portfolio Series Income Fund

2005 2006

Net Assets ($) (000’s) 4,437 33,777



Class A 226,675 1,886,630

Class B 175,998 912,400

Class C 29,322 286,319

MERs (%)

Class A 2.45 2.46

Class B 2.41 2.42

Class C 2.25 2.31


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SunWise Elite Portfolio Series Balanced Growth Fund

2005 2006

Net Assets ($) (000’s) 2,312 41,920



Class A 87,476 1,826,005

Class B 87,589 1,401,421

Class C 49,103 413,228

MERs (%)

Class A 3.11 3.15

Class B 2.70 2.73

Class C 2.54 2.57

SunWise Elite Portfolio Series Conservative Balanced Fund

2005 2006

Net Assets ($) (000’s) 4,411 36,247



Class A 233,878 1,776,986

Class B 147,740 1,176,015

Class C 44,561 239,721

MERs (%)

Class A 3.07 3.10

Class B 2.64 2.68

Class C 2.54 2.57

SunWise Elite Portfolio Series Growth Fund

2005 2006

Net Assets ($) (000’s) 1,073 16,065



Class A 65,732 688,038

Class B 30,446 433,550

Class C 7,673 264,150

MERs (%)

Class A 3.77 3.79

Class B 3.28 3.31

Class C 2.86 2.89

SunWise Elite Portfolio Series Maximum Growth Fund

2005 2006

Net Assets ($) (000’s) 300 7,598



Class A 11,597 447,921

Class B 16,066 118,732

Class C 1,340 74,271

MERs (%)

Class A 3.79 3.84

Class B 3.31 3.37

Class C 2.83 2.89

SunWise Elite CI Canadian Bond Fund

2005 2006

Net Assets ($) (000’s) 2,434 18,595



Class A 140,664 1,167,028

Class B 61,756 384,318

Class C 37,632 239,879

MERs (%)

Class A 2.14 2.15

Class B 2.07 2.09

Class C 1.98 1.99

SunWise Elite CI Global Bond Fund

2005 2006

Net Assets ($) (000’s) 179 2,397



Class A 10,826 166,656

Class B 5,658 41,139

Class C 1,505 22,846

MERs (%)

Class A 2.15 2.17

Class B 2.08 2.11

Class C 1.99 2.01


F-56 SunWise Elite


SunWise Elite CI Signature Dividend Fund

2005 2006

Net Assets ($) (000’s) 7,458 64,453



Class A 503,457 3,644,931

Class B 155,564 1,497,199

Class C 62,212 490,266

MERs (%)

Class A 2.19 2.20

Class B 2.14 2.15

Class C 2.03 2.04

SunWise Elite CI Signature High Income Fund

2005 2006

Net Assets ($) (000’s) 11,799 101,896



Class A 675,946 5,562,954

Class B 338,146 2,420,823

Class C 80,559 935,235

MERs (%)

Class A 2.35 2.36

Class B 2.14 2.15

Class C 1.98 1.99

SunWise Elite CI Money Market Fund

2005 2006

Net Assets ($) (000’s) 3,801 31,325



Class A 165,427 1,825,155

Class B 155,414 764,665

Class C 57,711 451,634

MERs (%)

Class A 1.43 1.47

Class B 1.39 1.41

Class C 1.32 1.36

* The Portfolio Turnover Rate indicates how often the portfolio advisorbought and sold securities for the Fund. A Portfolio Turnover Rate of 100%is equivalent to the Fund buying and selling all of the securities in itsportfolio once during the year. The higher the Portfolio Turnover Rate, thegreater the Funds trading costs in the year. There is not necessarily arelationship between high turnover and Fund performance.

Head Office2 Queen Street East, Twentieth FloorToronto, Ontario M5C 3G7Tel: 416-364-1145Toll Free: 1-800-268-9374English Client Services Team: 1-800-563-5181French Client Services Team: 1-800-668-3528

Sales OfficesCalgary Tel: 403-205-4396 Toll Free: 1-800-776-9027Halifax Tel: 902-422-2444 Toll Free: 1-888-246-8887Montreal Tel: 514-875-0090 Toll Free: 1-800-268-1602Vancouver Tel: 604-681-3346 Toll Free: 1-800-665-6994CI Teleservice: 1-800-275-3672 Automated account informationE-mail: [email protected] • www.ci.com

Sun Life Assurance Company of Canada, a member of the Sun Life Financial group of companies, is the sole issuer of the individual variable annuitycontract providing for investment in SunWise Elite segregated funds. A description of the key features of the applicable individual variable annuitycontract is contained in the Information Folder. SUBJECT TO ANY APPLICABLE DEATH AND MATURITY GUARANTEES, ANY AMOUNT THATIS ALLOCATED TO A SEGREGATED FUND IS INVESTED AT THE RISK OF THE CONTRACT HOLDER AND MAY INCREASE OR DECREASE INVALUE. ®CI Investments and the CI Investments design are registered trademarks of CI Investments Inc.TMHarbour Advisors is a trademark of CIInvestments Inc. ®SunWise is a registered trademark of Sun Life Assurance Company of Canada. ™AIM, the chevron logo and all associated trademarksare trademarks of AIM Management Group Inc., used under licence. *TRIMARK and all associated trademarks are trademarks of AIM Funds ManagementInc. ®Fidelity Investments and the Fidelity design are registered trademarks of FMR Corp. ®RBC Asset Management is a registered trademark of RoyalBank of Canada. ™TD Asset Management is a trademark of The Toronto-Dominion Bank, used under licence. SW

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Documents

Sun Life Assurance Company Fund Fact Sheets and Including