Canadian Equity Fund, Series D and Series F

Fund Holdings and Equity Sector Weights

Tax Information

The Fund’s realized income and capital gains are accumulated throughout the year and distributed on a pro rata basis in December. All the distribution details for tax purposes are printed on T-3 slips, and unitholders of the Fund receive their T-3 tax slips by mail near the end of January of the following year.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. North Growth Canadian Equity Fund benchmark = S&P/TSX Composite Index.

The Morningstar Rating reflects how the Fund has performed on a risk-adjusted basis relative to the other funds in the Morningstar Canadian Small/Mid Cap Equity category, and is subject to change every month. Funds are ranked by their Morningstar Risk-Adjusted Return scores with the top 10% of funds in a category receiving 5 stars, the next 22.5% receiving 4 stars, a fund in the middle 35% receiving 3 stars, a fund in the next 22.5% receiving 2 stars and a fund in the bottom 10% receiving 1 star. The Fund received a 5 star rating for the 3 year time period ending March 31, 2025 among 203 funds in the category and a 5 star rating for the 5 year time period ending March 31, 2025 among 189 funds in the category and the 10 year time period among 151 funds in the category. The weighted average of these time-period ratings provide the Overall Morningstar Rating for the Fund shown above. For further details see www.morningstar.ca.