EMPIRE LIFE INCOME GIF

Class L Guaranteed Investment Funds as of June 30, 2019

INVESTMENT MANAGEMENT Empire Life Investment Team	WHY INVEST IN THIS FUND You are seeking growth and income by investing in a strategic mix of primarily Canadian equity and fixed income securities.
FUND FACTS Asset Class Canadian Balanced Size (Mill) $397.23 MER 2.27 % Inception November 3, 2014 Total Holdings 340	RISK TOLERANCE low low to medium medium medium to high high
ASSET MIX Canadian Bonds 56.0 % Canadian Equity 19.1 % US Equity 10.5 % Cash 5.5 % International Equity 5.1 % US Bonds 3.9 % BOND TYPE Investment Grade Corporate 53.1 % Provincial Government 24.7 % Federal Government 12.6 % High Yield Corporate 5.9 % Municipal Government 1.6 % Convertible 0.8 % Floating Rate 0.7 % Preferred Shares 0.6 %	GROWTH OF $10,000 For Illustration Purposes Only
TOP 10 HOLDINGS ROYAL BK OF CDA 1.7% 02JUL19 TD 2.3 % CANADIAN GOVERNMENT BOND 2.75% 01DEC48 1.5 % CANADA HOUSING TRUST 2.4% 15DEC22 1.5 % SCOTIABANK CAP 5.65% 31DEC56 1.3 % BANK OF NOVA SCOTIA CAD 1.2 % HYDRO ONE INC 05SEP19 DN 1.2 % TORONTO-DOMINION BK (I/L) 1.2 % NEW BRUNSWICK PROV DEBE 3.55% 03JUN43 1.1 % CANADA HOUSING TRUST 1.25% 15DEC20 1.1 % TOROMONT INDS LTD 1.0 % Total of Top 10 13.4 %	COMPOUND ANNUAL RETURNS 1 mo 3 mo YTD 1 yr 3 yr 5 yr 10 yr Inception 1.18 1.44 8.09 3.50 2.97     2.68 CALENDAR YEAR RETURNS 2011 2012 2013 2014 2015 2016 2017 2018         0.42 3.90 3.40 -4.18

Empire Life will endeavour to ensure the information presented is accurate and updated, but will not be held liable for inaccuracies. A description of the key features of the individual variable insurance contract is contained in the Information Folder for the product being considered. Any amount that is allocated to a Guaranteed Investment Fund is invested at the risk of the contract owner and may increase or decrease in value. ** Annual Compound Returns: Returns under 1 year are simple rates of return. All others are annual compound rates of return. All returns are calculated after taking expenses, management and administration fees into account. Past performance is no guarantee of future performance. ^® Registered Trademark of The Empire Life Insurance Company. Policies are issued by The Empire Life Insurance Company.