Pennant Balanced Real Estate Fund

The Fund's objective is to provide long term capital appreciation to Unitholders by investing in securities of issuers engaged in various aspects of the United States and Canadian real estate industry, including investing in residential and commercial mortgage backed securities, securities of issuers engaged in the rental of U.S. and Canadian multifamily homes and securities of issuers engaged in the acquisition and development of land.

The fund is designed to provide investors with a stable cash yield over the life of the investment and laddered longer term capital appreciation in various real estate strategies.

This investment may be a suitable addition to your portfolio if you are looking for the following:

• Exposure to Canadian and United States real estate markets
• Diversification through a cash yield to investors and laddered longer term assets
• Investment in a registered account (RRSP, RRIF, DPSP, RESP, RDSP, TFSA)
• Access to private investment opportunities not typically available to the average investor