Investment Manager

Connor, Clark & Lunn Capital Markets Inc. (the "Manager") is the manager of the Trust and will be responsible for providing or arranging for the provision of administrative services required by the Trust. The Manager has in assets under management and is part of the Connor, Clark & Lunn Financial Group, a group of affiliated companies with aggregate assets under management of . Connor, Clark & Lunn Investment Management Ltd. (the "Investment Manager") was established in 1982 and has offices in Vancouver and Toronto. It is owned fully by its investment professionals and is one of Canada's largest independent money management firms. It serves a number of institutional investors including major public and private pension plans, endowments and mutual fund companies.

The portfolio management team members are:

Brian Eby: CFA; MBA (1987), BComm (1985), McMaster University. Mr. Eby is leader of the fixed income team, responsible for strategy and research. Mr. Eby is a director of Connor, Clark & Lunn Investment Management Ltd.

Gary Baker: CFA; MBA, University of Toronto (1985); BEng, McMaster University (1984). Mr. Baker is the leader of the fundamental Canadian equity team, responsible for fundamental research and analysis and overall portfolio strategy. Mr. Baker is a director of Connor, Clark & Lunn Investment Management Ltd.

Steven Vertes: CFA; BA, University of Western Ontario (1998). Mr. Vertes is a member of the equity team, responsible for fundamental research and analysis. Mr. Vertes is a Vice President of Connor, Clark & Lunn Investment Management Ltd.

Mark Bridges: CFA; Bachelor of Commerce, University of Calgary. Mr. Bridges is a member of the equity team, responsible for fundamental research and analysis. Mr. Bridges is a Vice President of Connor, Clark & Lunn Investment Management Ltd.

John P. Novak: CFA; MSc, London School of Economics; MBA, University of Toronto; BA, Brock University. Mr. Novak is a member of the equity team, responsible for fundamental research and analysis. In September 2009, John Novak was recognized as a TopGun Portfolio Manager by worldwide intelligence-based advisory firm Brendan Wood International. The prestigious award reflects those with the best grasp of the industries in which they invest and those with the most influence in the Canadian market. Mr. Novak is a Vice-President of Connor, Clark & Lunn Investment Management Ltd.

Samba Chunduri: MBA, University of Western Ontario; Btech, JN Technical University, India. Mr. Chunduri is a member of the equity team, responsible for fundamental research and analysis. Mr. Chunduri is a Vice-President of Connor, Clark & Lunn Investment Management Ltd.