THE MANITOBA SECURITIES COMMISSION MSC RULE 2007-21F1 (Section 149.1, The Securities Act) AMENDMENTS INSTRUMENT FOR FORM 81-101F1 CONTENTS OF SIMPLIFIED PROSPECTUS OF NATIONAL INSTRUMENT 81-101 MUTUAL FUND PROSPECTUS DISCLOSURE 1. This Instrument amends Form 81-101F1 Contents of Simplified Prospectus. 2. Item 6 of Part A is amended (a) by adding the following subsection (5) after subsection (4): "(5) Under the sub-heading "Short-term Trading" (a) describe the adverse effects, if any, that short-term trades in securities of the mutual fund by an investor may have on other investors in the mutual fund; (b) describe the restrictions, if any, that may be imposed by the mutual fund to deter short-term trades, including the circumstances, if any, under which such restrictions may not apply; (c) where the mutual fund does not impose restrictions on short-term trades, state the specific basis for the view of the manager that it is appropriate for the mutual fund not to do so; and (d) if applicable, state that the annual information form includes a description of all arrangements, whether formal or informal, with any person or company, to permit short-term trades of securities of the mutual fund."; and (b) by adding the following Instruction at the end of Item 6: "INSTRUCTION: In the disclosure required by subsection (5), include a brief description of the short-term trading activities in the mutual fund that are considered by the manager to be inappropriate or excessive. Where the manager imposes a short-term trading fee, include a cross-reference to the disclosure provided under Item 8 of Part A of this Form.". 3. Item 8 of Part A is amended by adding the following line item in the table after "Redemption Fees" under the heading "Fees and Expenses Payable Directly by You": Short-term Trading Fee [specify percentage, as a percentage of ..........] 4. This Instrument comes into force on March 17, 2008.
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