Sentry U.S. Monthly Income Fund

Sentry U.S. Monthly Income Fund

Series A

AS AT DECEMBER 31, 2019

FUND OVERVIEW

Sentry U.S. Monthly Income Fund aims to provide investors with stable income and long-term capital appreciation by investing in a diversified portfolio consisting primarily of U.S. equity and fixed-income securities.

FUND DETAILS

Inception date Total net assets ($CAD) As at 2019-12-31 NAVPS MER (%) As at 2019-09-30 Management fee (%) Asset class Currency Minimum investment

Distribution frequency Last distribution

March 2013 $648.8 million

$16.3185 2.25

1.850 Global Neutral Balanced

CAD $500 initial / $25

additional Monthly $0.0375

Risk rating2

Low

Medium

High

FUND CODES

A B

E EF F I O P

50245 DSC 51245

LL 53245 16084 15084 54245 55245 18084 58245

PERFORMANCE1

Growth of $10,000 (since inception date)

25k

$20,570

20k

15k

$20,570

10k

5k

14

15

16

17

18

19

20

Calendar year performance

% Percentage

20

17.3

16.2

15.8

17.3

16.2

15.8

10

6.8

3.5

6.8

2.6

0

3.5

2.6

14

15

16

17

18

19

Average annual compound returns

YTD

1 Mo

3 Mo

6 Mo

15.8%

-1.0%

3.5%

7.0%

*Since inception date

1 Y 15.8%

3 Y

5 Y

10 Y

8.3%

8.8%

-%

Inception* 11.1%

DISTRIBUTION HISTORY3

MANAGEMENT TEAM

Payable date 2019-12-13 2019-11-22 2019-10-25 2019-09-27 2019-08-23

Total 0.0375 0.0375 0.0375 0.0375 0.0375

Payable date 2019-07-26 2019-06-21 2019-05-24 2019-04-26 2019-03-22

Total 0.0375 0.0375 0.0375 0.0375 0.0375

CI PREFERRED PRICING4

Investment amount

$100,000 - $250,000 $250,000 - $500,000 $500,000 - $1,000,000 $1,000,000 - $2,500,000 $2,500,000 - $5,000,000 $5,000,000 and above

Combined fee

reduction

0.030%

0.055%

0.105%

0.155%

0.205%

0.230%

Sentry Investment Management offers expertise across a multitude of asset classes including equities, fixed income and real assets. Each member of the team shares a disciplined investment philosophy and a common goal: to deliver superior risk-adjusted returns measured over a period of years, not quarters or months. Sentry Investment Management is a division of CI Investments Inc., a subsidiary of CI Financial Corp.

Aubrey Hearn

James Dutkiewicz

Bryan Brown

Jack Hall

Note: This page is not complete without disclaimers on the next page.

Sentry U.S. Monthly Income Fund

Series A

AS AT DECEMBER 31, 2019

PORTFOLIO ALLOCATIONS5

Asset allocation US Equity Foreign Corporate Bonds Foreign Government Bonds Income Trust Units Canadian Equity Cash and Equivalents International Equity Canadian Government Bonds Other

(%)

49.26% 18.48% 12.46% 7.24% 4.71% 4.39% 3.05% 0.43% -0.02%

Sector allocation

Fixed Income Financial Services Consumer Services Technology Healthcare Cash and Cash Equivalent Industrial Services Other Industrial Goods Utilities

(%)

31.37% 28.20% 10.39% 9.35% 5.71% 4.39% 3.34% 2.99% 2.48% 1.78%

Geographic allocation

United States Canada Bermuda Netherlands Cayman Islands United Kingdom Mexico Other Panama

TOP HOLDINGS

1. Alphabet Inc Cl C 2. Brookfield Asset Management Inc Cl A 3. Berkshire Hathaway Inc Cl A 4. United States Treasury 1.63% 15-Aug-2029 5. JPMorgan Chase & Co 6. MasterCard Inc 7. Cigna Corp 8. Visa Inc Cl A 9. Booking Holdings Inc 10. United States Treasury 0.88% 15-Jan-2029 11. United States Treasury 3.00% 15-Aug-2048 12. United States Treasury 2.88% 15-Aug-2028 13. Brookfield Business Partners LP - Units 14. Facebook Inc Cl A 15. UnitedHealth Group Inc

Sector

Information Technology Diversified Financial Services Insurance Fixed Income Diversified Financial Services Diversified Financial Services Insurance Diversified Financial Services Diversified Consumer Services Fixed Income Fixed Income Fixed Income Construction Materials Information Technology Healthcare Services

(%) 86.05% 5.73% 3.83% 2.24% 0.61% 0.53% 0.42% 0.39% 0.20%

(%) 3.90% 3.83% 3.53% 3.51% 3.39% 3.33% 3.19% 2.90% 2.60% 2.38% 2.26% 2.16% 2.05% 1.98% 1.91%

Note: This page is not complete without disclaimers on the next page.

Over 35,000 financial advisors have chosen CI Investments as a partner. We believe that Canadians have the best opportunity for investments success by using the services of a professional financial advisor. Learn more at .

1 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(net of fees and expenses payable by the fund) including changes in security value and reinvestment of all dividends/distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. 2 The risk level of a fund has been determined in accordance with a standardized risk classification methodology in National Instrument 81-102, that is based on the fund's historical volatility as measured by the 10-year standard deviation of the fund's returns. Where a fund has offered securities to the public for less than 10 years, the standardized methodology requires that the standard deviation of a reference mutual fund or index that reasonably approximates the fund's standard deviation be used to determine the fund's risk rating. Please note that historical performance may not be indicative of future returns and a fund's historical volatility may not be indicative of future volatility. 3 Please refer to the fund's simplified prospectus for distribution information. 4 CI Preferred Pricing fee reductions apply to management and administration fees and start at $100,000. 5 Portfolio allocations will fluctuate over the life of the mutual fund as the portfolio holdings and market value of each security changes. The portfolio manager(s) may change the portfolio allocations in some or all of the sectors. The contents are not to be used or construed as investment advice or as an endorsement or recommendation of any entity of security discussed. ?CI Investments and the CI Investments design are registered trademarks of CI Investments Inc. ? CI Investments Inc. 2020. All rights reserved. 2020. "Trusted Partner in WealthTM" is a trademark of CI Investments Inc. Published January 2020

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