Will determine the relative weight for each of the following asset classes and investment strategies based on its predictions of future market developments and its view of the relative potential of each strategy and asset class.

May add, revise or delete investment strategies and/or asset classes from time to time without prior notice to the Fund’s unitholders.

May invest in publicly traded securities of issuers located anywhere in the world that are engaged in the infrastructure industry, including the ownership, management and operation of infrastructure or utility assets such as oil and gas pipelines, transportation, and electrical, gas and water utilities.

May invest in Canadian and foreign securities, including ordinary and preferred stock, ETFs, government and corporate bonds, Treasury Bills and other debt products that are selected through an industry-focused analytic process.

May use derivatives, such as index futures and currency futures on the U.S. dollar, invest in or sell short ETFs, and hold cash, cash equivalents and evidences of indebtedness, other than cash equivalents, that have terms to maturity of 365 days or less, in an attempt to obtain a high correlation to the HFRX Global Hedge Fund Index.

May use derivatives for foreign currency hedging purposes in respect of each of the above investment strategies.

May use derivatives for other hedging and non-hedging purposes.

Is permitted to engage in short sale transactions as permitted by relief obtained from the Canadian Securities Regulators.

May engage in securities lending, repurchase and reverse repurchase transactions as permitted by the Canadian securities regulatory authorities from time to time.