Over the period from 1948 to 2009: - The S&P/TSX provided positive returns about two-thirds of the time, with most returns between 0-10%. - The largest negative return was in 2008 with a 33% decrease, followed by a record 35% increase in 2009. - Negative returns have generally been followed by positive returns in subsequent years.

1. INVESTING CONCEPT
Market returns over time
Since 1948, the S&P/TSX has provided positive returns two-thirds of the time.
In the chart, annual returns were plotted year by year within respective ranges which resulted
in a fairly normal distribution or statistically what is referred to as a bell curve, with most
returns hugging the 0 to 10% range.
The year 2008 saw a decrease of 33%. In contrast, the year 2009 saw the pendulum swing
completely the other way, with the TSX returning 35%.
Generally, negative returns tend to be followed by positive returns.
S&P/TSX Composite Price Index 1948-2009
2007
2000 2005
Positive Years: 43 (69%)
1991 2003
Negative Years: 19 (31%) 1988 2006 1999
1998 1987 2004 1996
1994 1986 1997 1993
1992 1982 1995 1985
1 Year ended
1984 1977 1989 1980 December 2009
2002 1973 1976 1975 1978
2001 1970 1971 1968 1972 2009
1990 1969 1965 1967 1964 1983
1 Year ended
December 2008 1981 1960 1959 1963 1958 1979
1974 1966 1953 1956 1951 1955 1961
2008 1957 1962 1952 1948 1949 1954 1950
-40 to -30 -30 to -20 -20 to -10 -10 to 0 0 to 10 10 to 20 20 to 30 30 to 40
Percentage Price Return
Source: Investors Group Portfolio Analytics
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“Market returns over time” © Investors Group Inc. 2010 C3595 (01/2010)