Global Portfolio April 15, 2008:

The Global Portfolio tends to closely follow the Asset Allocation model but due to timing differences will not always reflect the allocation exactly. Exchange Traded Funds (ETF’s) are used as away of simplifying the portfolio and offers a low cost and efficient method of investing in global markets or market segments.

The ETFs being used are only a sampling of those available as this segment of the market has mushroomed over the past year and the number of offerings is extremely broad and varied. Investors should be somewhat cautious when selecting ETFs and remember that “past performance is no guarantee of future success”.  Many of the newer ETFs are very narrowly focused and will tend to be much more volatile over the short term.

Global Portfolio as at April 15, 2008:

Original invested capital April 15, 2004: $100,252.00 CAN

ETF Profiles:

XIU:  S&P/TSX 60 Index Fund holds the 60 largest companies by market capitalization in Canada, all of the main sectors of the economy are represented. The unit pays an annual Dividend of $0.87 per unit, current yield is 1.65%. The units are very liquid there are currently 105 million outstanding.

XMA: Materials Sector Index Fund holds 60 companies in four main sectors Gold (45%), Basic Materials (39%), Metals & Minerals (10%) and Forestry (4.5%). The unit has a current dividend of 1% and the MER is only 0.55% of the net asset value.

XEG: Energy Index Fund holds 28 Canadian energy companies involved in the production, service and integrated sectors of the OIL& Gas sector. The unit pays a small annual dividend of $0.50 per unit, current yield is 0.89%.

XGD: Gold Index Fund holds 19 Canadian companies involved in Gold production. The unit is dominated by two companies Barrick Gold and Placer Dome which combined account for 48% of the units’ value.

IYW: ishares Dow Jones US Technology ETF, top ten holdings Apple, Cisco, Dell, Google, Hewlett Packard, IBM, Intel, Oracle, QUALCOMM.

IYE: ishares Dow Jones US Energy ETF, top ten holdings, Apache Energy, Baker Hughes, Chevron, ConocoPhillips, Devon Energy, Exxon Mobil, Marathon Oil, Occidental Petroleum, Valero Energy.

ILF: S&P Latin America 40 Index Fund holds a diversified portfolio of 40 large companies for the four largest economies in the region, Mexico, Brazil, Argentina and Chile.

EWJ: MSCI Japan Index Fund holds a corresponding position to the Index. Top ten holdings, Toyota, Mitsubishi Financial, Sumitomo Mitsui Financial, Nintendo, Takeda Pharmaceutical, Honda Motor, Sony, Canon, Mizuho Financial and Matsushita Electric.

EPP: MSCI Pacific Index Fund ex: Japan. Holds companies from Australia, Hong Kong, New Zealand and Singapore. Top ten holdings, BHP Billiton, National Bank of Australia, Commonwealth Bank of Australia, Australia & New Zealand Banking Corp, Westpac Banking Corp, Rio Tinto, Woolworths Westfield Group, Sun Hung Kai properties and Cheung Kong Holdings Ltd..