1. Portfolio Solutions Group
September 2018
Susan Spence
Brandon Hutchison
Vice-President &
Portfolio Manager (PSG)
Assistant Vice-President & Portfolio Manager (PSG)

2. To provide our clients with strong long-term investment performance
By the numbers
GLC Asset Management Group Ltd. is a
leading investment management firm with one focus:
To provide our clients with strong long-term investment performance
$55.1 5
110+
50+
75+ 21
billion
assets under
management
investment
divisions
years of avg.
industry
experience
unique
mandates
years of
history
team
members
Source: GLC │As at September 30, 2018

3. GLC’s Investment Divisions
top-down/ bottom-up
all-cap
growth
quantitative
fundamental factor modeling
bottom-up
concentrated
large-cap
deep fundamental analysis
fixed income
multi-factor
absolute and relative performance objectives
forward- looking asset allocation
risk and target date defined
independent analysis and oversight

4. Meet the PSG team Susan Spence, CFA Brandon Hutchison, CFA
Vice-President & Portfolio Manager
Brandon Hutchison, CFA
Assistant Vice-President & Portfolio Manager
Experience:
Experience:
24 years investment industry experience with multi-asset funds and international, U.S. and Canadian equity mandates.
14 years investment industry experience in research, analysis and portfolio management focused on multi-asset funds.
Igor Ivanic, CFA
Senior Analyst
Justin Truong
Analyst
Experience:
Experience:
2 years of investment experience specializing in performance analysis and client management
6 years investment industry experience specializing in data management and analysis.

5. PSG’s Investment Solutions
Target
Risk
Target
Date
Asset
Class
Managed Fund
Solutions
A customized investment solution based on an investor’s risk tolerance
A long-term investment solution tailor-made to meet a future financial goal
A multi-manager approach focused on a single asset-class
A diversified investment solution with a selection of fixed-income to equity allocations to choose from
Asset allocation funds – A customized investment solution based on an investor’s risk tolerance.
Income allocation funds –each solution with specific focus on funds that generate income (dividends and interest) as well as capital gains.
Managed fund solutions – A diversified investment solution with a selection of fixed-income to equity allocations to choose from.
• Core managed solutions – each solution is made up of funds from multiple investment managers affiliated with Canada Life.
• Partner managed solutions – each solution is made up of multiple funds primarily from investment managers external to Canada Life.
Core Target Risk
A core building block when creating a customized investment solution
Core Managed
Income Target Risk
Partner Managed

6. PSG’s 5 core investment principles
Multi-level active
management adds value
A tailored approach to portfolio construction improves investor outcomes
Each component is
a building block
Direct and ongoing access to managers
Broad access to investment options enhances opportunity

7. PSG’s investment process

8. Portfolio construction
Underlying fund selection
We seek out:
concentrated
portfolios
style-specific
approaches
process
driven
active
managers
proven
track record
We don’t look at a fund in isolation.
It must add value to the portfolio as a whole.
Drive stronger returns? and/or
Does it dampen volatility? and/or
Does it create opportunities to enhance the benefits of active management?
(e.g. adds the ability to strategically align the portfolio to current market views through adjustments to duration, regional exposure, etc.)

9. Portfolio construction a tailored approach to meeting clients needs
The best approach to allocating risk and opportunity can, and should, differ across the spectrum of risk tolerances and time horizons.

10. portfolio construction
Investment process
A proprietary, disciplined investment process designed to deliver added value within each core element.
Investment Process
portfolio construction
active management
rigorous oversight

11. Disciplined rebalancing
Target and drift methodology
Asset mix:
fixed income / equity split allowed to drift +/- 2 percentage points
Individual fund:
fixed income funds +/- 10% of target allocation
equity funds +/- 20% of target allocation
Daily cash flows used to offset market movements:
reduces frequency and cost of rebalancing
When rebalancing is triggered, all underlying funds brought back to target weights

12. Asset Allocation: Target Risk Funds
Strategic Asset Mix
Equity*
Fixed Income
Conservative
25%
75%
Moderate
40%
60%
Balanced
Advanced
80%
20%
Aggressive
100% 0%
Equity allocation equally split between domestic and foreign
* For strategic asset allocation purposes, Real Estate is classified as Canadian Equity
Fixed income benchmark: 100% FTSE Canada Universe Index
Equity benchmark: 40% S&P/TSX Composite Index, 60% MSCI World (CAD)
Real Estate benchmark: 100% S&P/TSX Composite Index

13. Portfolio Solutions Group
Positioning & Outlook

14. Current positioning
general preference for higher yield/income-oriented mandates across the portfolios
overweight position in corporate bonds and international bonds
a short duration position relative to the FTSE Canada Universe Bond Index
preference for US over EAFE within foreign equity allocations moderating
maintain exposure to infrastructure at the conservative end
maintain exposure to emerging markets, resources and smaller cap at the aggressive end

15. Target risk funds Overall goals Fixed income
funds are optimally diversified by asset class, region, style and manager
underlying mandates are consistent with stated style
underlying mandates have a skilled investment team, with a strong, repeatable process
funds are constructed with sufficient levers in place to accommodate asset mix adjustments in line with evolving forward looking views
Fixed income
broad range of fixed income mandates at the conservative end giving the investor exposure to the different sectors/credit qualities of the market
more conservative choice of fixed income mandates at the aggressive end to offset some of the higher equity market risk
Source: GLC │As at September 30, 2018

16. Target risk funds Equities
linear transition of the value growth score from ~100 at the conservative end to ~190 at the aggressive end (all scores still within core V-G box)
linear transition of the size score with larger cap exposure at the conservative end declining to a more all-cap exposure at the aggressive end
greater emphasis on the more stable dividend paying/income oriented stocks at the conservative end to align with the investors’ lower risk tolerance
where available, optimal real estate allocations of 6%, 8%, 10%, 10%, 10% in the respective target risk funds (conservative – aggressive)
Source: GLC │As at September 30, 2018

17. PSG outlook comments – Q3 2018
Capital market returns in Q were mixed, with US equities continuing to lead the way and driving global developed equity returns as a whole into positive territory. However, Canadian, EAFE and emerging market equities all experienced losses in the period, as did the domestic bond market. The negative impact of rising interest rates on certain asset classes was evident, and global trade was another area of focus for the markets. Within North America there was welcome progress in trade discussions as the tentative agreement between the US and Mexico in late August was followed by a last minute agreement in principle between the US and Canada at the end of September. This progress paves the way for a replacement to NAFTA and helps lift a cloud of uncertainty created by the regional trade dispute. Progress has been harder to come by elsewhere, as Brexit terms and the trade relationship between the US and China remain in flux. We expect trade manoeuvring, geopolitical stress, and government and central bank policy to be key determinants of sentiment in the upcoming quarters.
We are maintaining a balanced approach in our funds from both an asset class and regional perspective, as we weigh the less synchronized but continued strength in the global economy and a still attractive equity risk premium with the risks mentioned above alongside generally full valuations. Earnings growth has been supportive of multiples, but must continue in order to further extend this business cycle. For now, while the end of the business cycle is a more common point of discussion than in the past and the interest rate curve is flatter than it has been this cycle, recession risks remain muted.

18. PSG outlook comments – Q3 2018
The Bank of Canada raised its policy interest rate by 0.25% to 1.50% in July and one more hike is anticipated by year end. The Federal Reserve raised the overnight rate in September to a range of 2.00%-2.25% and guided markets to expect one more increase at the December meeting. The ongoing monetary tightening activity of central banks pressured bond prices in the third quarter.
Within fixed income allocations our key positioning themes remain being short duration, overweight credit and overweight international exposure. Our credit overweight primarily consists of investment grade bonds, with some select exposure to high yield debt. Having a shorter duration protects against rising interest rates, while overweight credit positioning offers enhanced yield and an unhedged international bond allocation helps to diversify the sources of risk and return in the portfolio.
Equity allocations in the more aggressive or longer-dated asset allocation funds continue to have some strategic, dedicated exposure to emerging markets. Emerging markets are a more volatile asset class and their recent relative underperformance has been a drag on short term performance, but the higher associated risk is well reflected in valuations and the diversification potential that emerging markets offer is compelling.
We expect market volatility to increase going forward, but the sophisticated construction of the asset allocation funds, including our use of real estate, should help to smooth the ride for investors.

19. Current positioning – fixed income
Fund
Duration
Fixed Income Yield
Corporate Bonds
Federal Bonds
Provincial Bonds
Mortgages/ MBS
Real Return Bonds
Foreign Bonds
Cash & Other
Conservative Profile
6.38
3.15%
33.3%
15.8%
15.5%
17.2%
3.9%
11.8%
3.2%
Moderate Profile
6.22
3.21%
34.7%
17.3%
17.5%
0.0%
10.9%
2.9%
Balanced Profile
6.15
3.03%
36.3%
19.1%
18.2%
7.5%
1.1%
Advanced Profile
6.76
37.0%
22.5%
23.8%
15.0%
1.4%
Aggressive Profile –
FTSE TMX Canada Universe Bond
7.40
2.91%
28.5%
35.6%
34.0%
1.9%
Statistics are based on data as at 9/30/2018
Source: FTSE and fund managers

20. Current positioning – equity
Fund
Value-Growth Score
Dividend Yield
P/E
Canadian Equity
U.S. Equity
EAFE / Other Equity
Conservative Profile
103
3.15%
14.7
41.7%
37.1%
21.2%
Moderate Profile
109
3.02%
15.1
42.7%
36.8%
20.5%
Balanced Profile
148
2.49%
15.7
41.0%
35.5%
23.5%
Advanced Profile
163
2.26%
16.0
39.0%
35.1%
25.9%
Aggressive Profile
171
2.19%
16.2
38.0%
34.7%
27.3%
Blended Benchmark*
174
2.57%
41.3%
37.6%
21.1%
*Blended benchmark is 40% S&P/TSX Composite Index, 60% MSCI World Index (CAD)
Statistics are based on data as at 9/30/2018
Source: Morningstar Direct and fund managers

21. Current positioning – fixed income
Fund
Duration
Fixed Income Yield
Corporate Bonds
Federal Bonds
Provincial Bonds
Mortgages/ MBS
Real Return Bonds
Foreign Bonds
Cash & Other
Conservative Folio
6.58
3.04%
41.9%
15.0%
15.7%
0.4%
3.9%
18.7%
3.8%
Moderate Folio
6.56
3.10%
42.2%
15.9%
17.8%
0.5%
0.0%
19.2%
3.5%
Balanced Folio
6.39
3.13%
16.5%
17.2%
19.1%
Advanced Folio
6.61
2.88%
37.4%
17.5%
0.6%
20.9%
1.6%
Aggressive Folio –
FTSE TMX Canada Universe Bond
7.40
2.91%
28.5%
35.6%
34.0%
1.9%
Statistics are based on data as at 9/30/2018
Source: FTSE and fund managers

22. Current positioning – equity
Fund
Value-Growth Score
Dividend Yield
P/E
Canadian Equity
U.S. Equity
EAFE / Other Equity
Conservative Folio
119
3.07%
14.6
38.4%
31.0%
30.5%
Moderate Folio
128
2.97%
14.9
38.1%
30.9%
Balanced Folio
155
2.60%
16.4
38.2%
33.8%
28.1%
Advanced Folio
156
2.44%
16.1
36.6%
34.4%
29.0%
Aggressive Folio
165
2.36%
35.6%
34.8%
29.6%
Blended Benchmark*
174
2.57%
15.7
41.3%
37.6%
21.1%
*Blended benchmark is 40% S&P/TSX Composite Index, 60% MSCI World Index (CAD)
Statistics are based on data as at 9/30/2018
Source: Morningstar Direct and fund managers

23. Current positioning – fixed income
Fund
Duration
Fixed Income Yield
Corporate Bonds
Federal Bonds
Provincial Bonds
Mortgages/ MBS
Real Return Bonds
Foreign Bonds
Cash & Other
Conservative Portfolio
6.36
3.25%
33.8%
13.9%
15.0%
13.8%
3.9%
15.6%
3.2%
Moderate Portfolio
6.21
3.29%
34.1%
17.3%
13.3%
0.0%
15.7%
2.9%
Balanced Portfolio
6.04
3.13%
36.8%
16.2%
16.8%
14.1%
12.1%
1.2%
Advanced Portfolio
6.17
3.09%
32.4%
18.0%
17.5%
11.9%
2.6%
Aggressive Portfolio –
FTSE TMX Canada Universe Bond
7.40
2.91%
28.5%
35.6%
34.0%
1.9%
Statistics are based on data as at 9/30/2018
Source: FTSE and fund managers

24. Current positioning – equity
Fund
Value-Growth Score
Dividend Yield
P/E
Canadian Equity
U.S. Equity
EAFE / Other Equity
Conservative Portfolio
111
2.99%
15.0
38.7%
39.8%
21.5%
Moderate Portfolio
116
2.94%
15.2
38.4%
39.1%
22.5%
Balanced Portfolio
147
2.38%
15.5
36.4%
37.1%
26.5%
Advanced Portfolio
159
2.33%
15.4
35.1%
37.9%
27.0%
Aggressive Portfolio
170
2.25%
15.7
37.4%
27.5%
Blended Benchmark*
174
2.57%
41.3%
37.6%
21.1%
*Blended benchmark is 40% S&P/TSX Composite Index, 60% MSCI World Index (CAD)
Statistics are based on data as at 9/30/2018
Source: Morningstar Direct and fund managers

25. Current positioning – fixed income
Fund
Duration
Fixed Income Yield
Corporate Bonds
Federal Bonds
Provincial Bonds
Real Return Bonds
Foreign Bonds
Cash & Other
Conservative Allocation
6.63
2.95%
34.9%
22.8%
19.1%
3.9%
15.5%
4.8%
Moderate Allocation
6.64
3.03%
37.6%
23.4%
21.3%
0.0%
14.0%
4.5%
Balanced Allocation
6.75
2.84%
39.6%
21.0%
13.4%
2.7%
Advanced Allocation
7.11
2.85%
39.3%
21.1%
14.6%
3.3%
Aggressive Allocation
FTSE TMX Canada Universe Bond
7.40
2.91%
28.5%
35.6%
34.0%
1.9%
Statistics are based on data as at 9/30/2018
Source: FTSE and fund managers

26. Current positioning – equity
Fund
Value-Growth Score
Dividend Yield
P/E
Canadian Equity
U.S. Equity
EAFE / Other Equity
Conservative Allocation
100
3.17%
14.6
42.1%
42.3%
15.7%
Moderate Allocation
119
2.97%
15.2
42.2%
40.4%
17.4%
Balanced Allocation
154
2.36%
16.4
40.2%
19.6%
Advanced Allocation
167
2.20%
16.7
37.0%
38.7%
24.3%
Aggressive Allocation
174
2.12%
16.8
35.8%
39.5%
24.6%
Blended Benchmark*
2.57%
15.7
41.3%
37.6%
21.1%
*Blended benchmark is 40% S&P/TSX Composite Index, 60% MSCI World Index (CAD)
Statistics are based on data as at 9/30/2018
Source: Morningstar Direct and fund managers

27. Portfolio Solutions Group
Target weights

28. Current target weights – LL Profile
Underlying Fund
Conservative
Moderate
Balanced
Advanced
Aggressive
Core Bond (Portico)
18.0%
16.0%
14.0%
9.0%
Core Plus Bond (Portico)
12.0%
8.0%
Mortgage (Portico)
15.0%
Corporate Bond (Portico)
7.0%
5.0%
3.0%
Long Term Bond (Portico)
Real Return Bond (Portico)
Unconstrained Fixed Inc (Mackenzie)
6.0%
4.0%
International Bond (Brandywine)
Dividend (GWLIM)
3.8%
Canadian All Cap Value (Mackenzie)
1.2%
4.1%
Canadian Equity (London Capital)
4.3%
7.5%
7.6%
Canadian Equity (CI/Synergy)
1.0%
1.4%
Canadian Equity (Fidelity)
1.1%
5.5%
All Canadian Equity (CI/Cambridge)
2.0%
Mid Cap Canada (GWLIM)
Canadian Resource (Mackenzie)
6.5%
Foreign Equity (Mackenzie/Ivy)
4.5%
Global Equity (Putnam)
Global Small Cap Growth (Mackenzie)
Global Infrastructure (London Capital)
U.S. Dividend (GWLIM)
2.9%
U.S. Value (London Capital)
2.8%
4.8%
9.5%
10.0%
American Growth (AGF)
3.5%
8.8%
International Equity (Setanta)
5.4%
International Opportunity (JPMorgan)
2.7%
3.1%
7.4%
Emerging Markets (Putnam)
4.9%
Real Estate (GWLRA)
Source: GLC │As at September 30, 2018

29. Current target weights – GWL Portfolio
Underlying Fund
Conservative
Moderate
Balanced
Advanced
Aggressive
Canadian Bond (Portico)
17.0%
15.0%
13.0%
14.0%
Core Bond (Portico)
12.0%
7.0%
Bond (Mackenzie)
6.0%
Commercial Mortgage (Portico)
10.0%
3.0%
Corporate Bond (Portico)
4.0%
Long Term Bond (Portico)
International Bond (Brandywine)
Unconstrained Fixed Income (Mackenzie)
Real Return Bond (Portico)
Dividend (GWLIM)
3.5%
5.0%
Canadian Value (CI/Harbour)
5.5%
Canadian Value (FGP)
1.1%
1.3%
2.0%
Canadian Equity (GWLIM)
4.5%
9.0%
Canadian Equity (Laketon)
6.5%
Mid Cap Canada (GWLIM)
Foreign Equity (Mackenzie/Ivy)
7.7%
Global Equity (Setanta)
3.4%
Global Value (Mackenzie/Cundill)
8.0%
Global Small Cap Growth (Mackenzie)
Global Infrastructure Equity (London Capital)
U.S. Value (London Capital)
2.5%
American Growth (AGF)
International Opportunity (JPMorgan)
7.5%
International Equity (Setanta)
Emerging Markets (Putnam)
Real Estate (GWLRA)
Statistics are based on fund data as at 9/30/2018, target weights as at 10/31/2018

30. Current target weights – CL Allocation
Underlying Fund
Conservative
Moderate
Balanced
Advanced
Aggressive
Core Plus Bond (Portico)
26.0%
25.5%
22.5%
17.0%
Core Bond (Portico)
8.0%
6.0%
Government Bond (Portico)
12.0%
7.5%
3.0%
Long Term Bond (Portico)
Real Return Bond (Portico)
Corporate Bond (Portico)
9.0%
International Bond (CLI)
5.5%
Unconstrained Fixed Inc (Mackenzie)
4.0%
Enhanced Dividend (Laketon)
3.5%
4.5%
7.0%
2.5%
Canadian Equity Value (Laketon)
Canadian Equity (London Capital)
1.0%
Canadian Equity (Laketon)
Canadian Equity (Bissett)
1.1%
4.3%
Fidelity True North®
Mid Cap Canada (GWLIM)
5.0%
Canadian Resource (Mackenzie)
6.5%
Global Equity (Setanta)
8.5%
Global Equity (Invesco)
4.9%
Global Growth (Mackenzie)
Global Small Cap Growth (Mackenzie)
Global Infrastructure (London Capital)
U.S. Value (London Capital)
4.2%
10.0%
American Growth (AGF)
11.0%
International Equity (Templeton)
International Equity (CI/Altrinsic)
Emerging Markets (Putnam)
Real Estate (GWLRA)
Source: GLC │As at September 30, 2018

31. Current target weights – Quadrus Folio
Underlying Fund
Conservative
Moderate
Balanced
Advanced
Aggressive
Core Plus Bond (Portico)
22.0%
20.0%
17.0%
8.0%
Bond (Mackenzie)
20.5%
19.0%
13.0%
9.0%
Corporate Bond (Portico)
7.0%
5.0%
3.0%
Long Term Bond (Portico)
International Bond (CLI)
7.5%
6.5%
4.0%
Unconstrained Fixed Income (Mackenzie)
6.0%
Short Term Bond (Portico)
2.5%
Real Return Bond (Portico)
Dividend (GWLIM)
3.5%
5.5%
Canadian Value (FGP)
Canadian All Cap Value (Mackenzie)
4.5%
Canadian Growth (GWLIM)
12.0%
Canadian Equity (Laketon)
Canadian Resource (Mackenzie)
Global Dividend (Setanta)
Global Infrastructure Equity (London Capital)
Global Growth (Mackenzie)
Global Small Cap Growth (Mackenzie)
U.S. Value (Putnam)
8.5%
9.5%
U.S. All Cap Growth (Mackenzie)
Foreign Equity (Mackenzie/Ivy)
International Core Equity (Putnam)
11.0%
Emerging Markets Opportunities (Mackenzie)

32. Current target weights – Quadrus Folio
Underlying Fund
Diversified Fixed Income
Core Plus Bond (Portico)
30.0%
Core Bond (Portico)
26.0%
Corporate Bond (Portico)
10.0%
Long Term Bond (Portico)
6.0%
Unconstrained Fixed Income (Mackenzie)
Real Return Bond (Portico)
3.0%
Short Term Bond (Portico)
International Bond (CLI)
9.0%
Source: GLC │As at September 30, 2018

33. Portfolio Solutions Group
Performance

34. London Life Profile funds
Dampens volatility
10-year Gross Returns (%)
30 Sep 18
10-year Standard Deviations (%)
30 Sep 18
Fund
Fund
Benchmark
Benchmark
Source: Morningstar Direct, SFFS │ Figures are annualized

35. London Life Profile funds
Protects on the downside
Outperformance versus Benchmark
Capture Ratio
Beta
Up Markets
Down Markets
Upside
Downside
Conservative
0.79
32%
86%
90%
67%
Moderate
0.80
31%
88%
89%
71%
Balanced
0.85
41%
79%
94%
Advanced
0.89
43%
62%
96%
Aggressive
0.91
58%
95%
87%
Source: Morningstar Direct, SFFS │ 10-year data for the period ended 9/30/2018, monthly periods

36. GWL Portfolio funds Dampens volatility 10-year Gross Returns (%)
30 Sep 18
10-year Standard Deviations (%)
30 Sep 18
Fund
Fund
Benchmark
Benchmark
Source: Morningstar Direct, SFFS │ Figures are annualized

37. Protects on the downside Outperformance versus Benchmark
GWL Portfolio funds
Protects on the downside
Outperformance versus Benchmark
Capture Ratio
Beta
Up Markets
Down Markets
Upside
Downside
Conservative
0.79
33%
81%
92%
62%
Moderate
0.76
82%
89%
58%
Balanced
43%
76%
77%
Advanced
0.83
45%
61%
94%
83%
Aggressive
0.85
46%
86%
Source: Morningstar Direct, SFFS │ 10-year data for the period ended 9/30/2018, monthly periods

38. Canada Life Allocation funds
Dampens volatility
10-year Gross Returns (%)
30 Sep 18
10-year Standard Deviations (%)
30 Sep 18
Fund
Fund
Benchmark
Benchmark
Source: Morningstar Direct, SFFS │ Figures are annualized

39. Canada Life Allocation funds
Protects on the downside
Outperformance versus Benchmark
Capture Ratio
Beta
Up Markets
Down Markets
Upside
Downside
Conservative
0.75
33%
83%
88%
65%
Moderate
0.80
38%
79%
91%
70%
Balanced
0.83
44%
95%
73%
Advanced
0.92
46%
76%
98%
86%
Aggressive
0.91
41%
96%
Source: Morningstar Direct, SFFS │ 10-year data for the period ended 9/30/2018, monthly periods

40. Quadrus Folio funds 10-year Gross Returns (%)
30 Sep 18
10-year Standard Deviations (%)
30 Sep 18
Fund
Fund
Benchmark
Benchmark
Source: Morningstar Direct, SFFS │ Figures are annualized

41. Outperformance versus Benchmark
Quadrus Folio funds
Outperformance versus Benchmark
Capture Ratio
Beta
Up Markets
Down Markets
Upside
Downside
Conservative
0.93
50%
72%
98%
86%
Moderate
0.95
49%
68%
92%
Balanced
0.99
53%
56%
100%
97%
Advanced
1.00
99%
Aggressive
Source: Morningstar Direct, SFFS │ 10-year data for the period ended 9/30/2018, monthly periods

42. Quadrus Diversified Fixed Income Folio
Asset mix
as at September 30, 2018
CORE PLUS BOND (PORTICO)
CORE BOND (PORTICO)
CORPORATE BOND (PORTICO)
UNCONSTRAINED FIXED INCOME (MACKENZIE)
INTERNATIONAL BOND (CLI)
LONG TERM BOND (PORTICO)
SHORT TERM BOND (PORTICO)
REAL RETURN BOND (PORTICO)
Source information and disclaimer can be found on the last page.
Portfolio attributes reflect the portfolio strategy used by the Quadrus fund shelf.

43. LL Diversified Fixed Income
Asset mix
as at September 30, 2018
CORE PLUS BOND (PORTICO)
CORE BOND (PORTICO)
MORTGAGE (PORTICO)
CORPORATE BOND (PORTICO)
INTERNATIONAL BOND (BRANDYWINE)
UNCONSTRAINED FIXED INCOME (MACKENZIE)
LONG TERM BOND (PORTICO)
REAL RETURN BOND (PORTICO)
SHORT TERM BOND (PORTICO)
Source information and disclaimer can be found on the last page.
Portfolio attributes reflect the portfolio strategy used by the London Life fund shelf.

44. GWL Diversified Fixed Income
Asset mix
as at September 30, 2018
CANADIAN BOND (PORTICO)
CORE BOND (PORTICO)
COMMERCIAL MORTGAGE (PORTICO)
INTERNATIONAL BOND (BRANDYWINE)
BOND (MACKENZIE)
UNCONSTRAINED FIXED INCOME (MACKENZIE)
CORPORATE BOND (PORTICO)
LONG TERM BOND (PORTICO)
REAL RETURN BOND (PORTICO)
SHORT TERM BOND (PORTICO)
Source information and disclaimer can be found on the last page.
Portfolio attributes reflect the portfolio strategy used by the Great-West Life fund shelf.

45. Where to find more information
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Watch our video:
An introduction to Portfolio Solutions Group