F052 SIP Top 25

Investors Canadian Balanced Fund Summary of Investment Portfolio As at the Quarter ended June 30, 2017 (unaudited)

The largest positions of the Fund (up to 25) at the end of the period, and the major asset classes in which the Fund was invested, are indicated below. This summary of investment portfolio may change due to ongoing portfolio transactions.

Summary of Top 25 Long Positions Summary of Composition of the Portfolio

% of net assets % of net assets Royal Bank of Canada 5.4 PORTFOLIO ALLOCATION The Bank of Nova Scotia 4.4 Equities 65.5 The Toronto-Dominion Bank 3.4 Bonds 33.3 1 Power Financial Corp. 3.2 Cash and cash equivalents (0.1) Manulife Financial Corp. 3.2 Other net assets (liabilities) 1.3 Enbridge Inc. 2.7 Total 100.0 JPMorgan Chase & Co. 2.1 Tourmaline Oil Corp. 2.0 EQUITIES TransCanada Corp. 2.0 COUNTRY ALLOCATION Canadian Pacific Railway Ltd. 1.9 Canada 48.2 Shaw Communications Inc. Class B non-voting 1.7 United States 17.3 Pfizer Inc. 1.6 65.5 Canadian Natural Resources Ltd. 1.6 Province of Ontario 6.50% 03-08-2029 1.5 SECTOR ALLOCATION Verizon Communications Inc. 1.5 Financials 24.2 Suncor Energy Inc. 1.4 Energy 12.9 Citigroup Inc. 1.4 Industrials 8.1 Fidelity National Information Services Inc. 1.3 Consumer Discretionary 5.1 Canadian National Railway Co. 1.3 Information Technology 4.4 Alimentation Couche-Tard Inc. Class B Sub. voting 1.3 Consumer Staples 3.9 Loblaw Companies Ltd. 1.3 Health Care 2.8 CVS Health Corp. 1.3 Materials 1.9 Seven Generations Energy Ltd. 1.2 Telecommunication Services 1.5 Brookfield Asset Management Inc. Class A limited voting 1.2 Utilities 0.7 Johnson & Johnson 1.2 65.5 51.1 1 The issuer of this security is related to the Manager of the Fund. BONDS SECTOR ALLOCATION Summary of Top 25 Short Positions Corporate 17.7 Provincial Governments 8.7 % of net assets Other 6.9 n/a - 33.3

NET CURRENCY EXPOSURE Total Net Asset Value ($000) 663,921 Canadian dollars 33.3