On behalf of the Funds, we have established an independent review committee (“Independent Review Committee”) or “IRC” pursuant to the requirements set out in National Instrument 81-107 Independent Review Committee for Investment Funds (“NI 81-107”).
The IRC oversees decisions relating to actual or perceived conflicts of interest involving the Funds. The members of the IRC are independent and must act in the best interests of the Funds and the Funds’ investors.
In accordance with NI 81-107, the IRC considers and provides recommendations to Elliott & Page Limited (the “Manager”) on conflicts of interest to which the Manager is subject when managing the Funds. The Manager is required under NI 81-107 to identify conflicts of interest inherent in its management of the Fund, and to request input from the IRC into how it manages those conflicts of interest, as well as its written policies and procedures in respect of those conflicts of interest.
The IRC provides its recommendations to the Manager with a view to the best interests of the Funds. The IRC reports annually to securityholders of the Funds as required by NI 81-107. It also must advise the securities regulatory authorities if it determines that an investment decision was not made in accordance with the foregoing requirements or if any condition of its approval or recommendation has not been satisfied.
The IRC will also prepare an annual report that describes its activities as the independent review committee of the Funds. For a free copy of this report, call us at 1-888-588-7999 or ask your dealer. You can also get a copy of this report on our website at www.manulifemutualfunds.ca or by sending an e-mail to manulifemutualfunds@manulife.com. This report and other information about the Funds are also available at www.sedar.com.
The compensation and other reasonable expenses of the IRC, as well as the other reasonable costs of complying with NI 81-107, are paid pro rata out of the assets of the Funds.
Reports to Securityholders
