Montreal, February 7, 2011 — FÉRIQUE EQUITY FUND has just been honoured with the prestigious Lipper Fund Award for 2011 for its 5-year performance, ranking first in Canada out of more than 250 Canadian equity funds.

The Lipper Fund Awards recognize funds that have delivered stronger and more consistent performance than their peers for a given period. Funds are assessed on a risk-adjusted basis, and the Award is given to the fund that has outperformed all the others in its classification in this regard. Lipper rankings are established annually at the national and international levels by Thomson Reuters. The FÉRIQUE EQUITY Fund posted lower volatility and higher average returns during the period in question thanks to its investment philosophy, which focuses on consistent long-term performance while keeping risk to a reasonable level. This philosophy also underlies the nine other mutual funds offered by FÉRIQUE.

“The Lipper Fund Award for the five-year period is particularly significant, in our opinion, since few funds in Canada have a performance history of 5 years or more, and this period was marked by one of the worst financial crises in history,” said Fabienne Lacoste, Executive Director of Gestion FÉRIQUE. “We are also very proud of the FÉRIQUE EQUITY Fund’s overall performance, which was better than its benchmark index, net of management fees, over every period observed – 1 year, 3 years, 5 years and 10 years – as at December 31, 2010.”

Created in 1974, the FÉRIQUE EQUITY Fund is one of the oldest of the approximately 250 funds in this classification in Canada, whose median age fluctuates around the 4-year mark. This Fund has total assets of $538 million as at December 31, 2010, and is managed using a combination of styles to provide investors with optimal exposure not only to the various Canadian market sectors, but also to different management approaches. Currently, three managers are sharing the Fund’s total assets:  BlackRock, Natcan Investment Management, and Montrusco Bolton Investments.

Offered by a not-for-profit company, FÉRIQUE Funds benefit from one of the most advantageous fee structures in the industry, allowing the investors to look forward to superior net returns and the managers to adopt a more conservative risk level to achieve the same performance objectives. “Our EQUITY Fund has a management fee ratio of 0.77%, compared to an average of about 2.12% for Canadian funds in the same category,” said Mrs. Lacoste. “Along with an astute choice of managers, this difference has definitely contributed to how well the Fund has performed over the past 36 years.”

About Gestion FÉRIQUE

Founded on January 1, 2000, Gestion FÉRIQUE (www.ferique.com) manages the FÉRIQUE Funds, launched in 1974 by the Ordre des ingénieurs du Québec. FÉRIQUE is the only not-for-profit mutual fund company in Canada whose sole purpose is to serve the interests of engineers and their families. The firm offers ten mutual funds diversified across all asset classes. Management of the funds is entrusted to renowned investment firms which are hand-picked by Gestion FÉRIQUE, based on their superior asset class expertise. FÉRIQUE Funds have $1.5 billion in assets under management and over 20,000 clients.

INTEREST RATES AND THE BOND MARKET

On the fixed income front, the major concerns among market watchers relate to the overall effects that the US Federal Reserve’s quantitative easing policy (QE II) purchases of Treasuries will have on interest rates. Here in Canada, the central bank once again decided to keep its policy rate unchanged at 1%, due in part to concerns as to how the European sovereign debt issues will play out. After Greece and Ireland, market watchers are now closely watching Portugal for signs of weakness. The DEX short-term index rose by 0.2% and the DEX Universe fell by 0.7%.

Despite the inflation concerns in China and several emerging markets economies (Brazil, India), interest rates remain fairly subdued in the developed world. Even those central banks in major economies that have started to raise their policy rates slightly (Canada, Australia) continue to run fairly relaxed monetary policies.

STOCK MARKETS

Major world equity markets performed well once again during the fourth quarter, continuing a slow and steady climb back from the recession and post-financial crisis lows of 2009. Government and monetary authority actions during recent months have boosted market optimism, at a time of continued low interest rates and contained inflation in most western economies.

Canadian markets

Canadian stocks, influenced in part by positive developments south of the border, did particularly well during the quarter. The S&P/TSX index rose by an impressive 9.5%, led by the energy, materials and IT sectors. The S&P/TSX Smallcap index for its part rose by 18.2%. Businesses throughout Canada continue to benefit from consumer demand, employment levels and a housing sector that are stronger in Canada than in other G7 economies.

US markets

South of the border, equities did well too. The Dow Jones Industrial Average and the S&P 500 rose by 4.7% and 7.4% respectively in Canadian dollar terms during the quarter. US investor sentiment has picked up remarkably since the recent accord between the Obama administration and Congress to extend Bush era tax cuts and to inject new stimulus into the economy.

The Federal Reserve’s securities purchases arising from the second round of its QE II, which began in mid-December helped to keep interest rates low, while inflation expectations have remained moderate. These and other factors have caused many economists to boost their US GDP growth forecasts for 2011, which in turn should bode well for corporate earnings during the year to come.

Foreign markets

Despite the good news coming from the US economy (the traditional global GDP growth driver) during recent quarters, it was emerging economies that drove things. World stock markets took their cue. The MCSI World Index (ex-Canada) rose by 5.5% during the quarter.

That said, there are some concerns regarding China’s growth prospects during the coming year. The country, which is by far the most formidable emerging markets player and a major driver of global demand, is increasingly beset by inflation worries. Beijing recently increased bank reserve requirements in order to stifle lending and consumer and business demand, though lending conditions remains fairly easy.

This communication does not constitute an offer or a solicitation of any nature in any jurisdiction in which such an offer or solicitation would not be authorized or to any person to whom it would be illegal to make such an offer or solicitation. The information presented is subject to change without notice and does not constitute specific advice of a financial, legal, accounting or fiscal nature concerning investments. Services d’investissement FÉRIQUE may not be held liable for any inaccuracy or omission in the information provided.

The socially responsible Proxy Voting Report for the fourth quarter of 2010 is now online. You can access the voting report now. This report is available in French only.

Happy reading !

Gestion FÉRIQUE

Our advisory service (1-800-291-0337) will be available as usual every business day from 8 AM to 8 PM in exception of the following:

December 24 and 31: from 8 AM to 4:30 PM
December 27, 28 and January 3: closed

Also, please note that the TSX closes at 1:00 PM on December 24. Consequently, all transactions made after 1 PM will be dated December 29, 2010. For December 31, all transactions made after 4 PM will be dated January 4, 2011.

Thank you and have a great holiday!

Gestion FÉRIQUE

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Every Saturday in La Presse Affaires, a financial expert responds to questions about the markets, shares his views on the stock market and offers some investment advice.

On Saturday, October 16, the guest expert was none other than Jacques Chartrand, one of our FÉRIQUE EQUITY managers.

In his interview with Stéphanie Grammond, Chartrand answered some questions about the best financial indicators, the investments to avoid at all costs and today’s most significant events.

For the answer to all these questions, click this link: Prudence with high dividends (in French only).

Happy reading!

Gestion FÉRIQUE

The socially responsible Proxy Voting Report for the third quarter of 2010 is now online. You can access the voting report now. This report is available in French only.

Happy reading !

Gestion FÉRIQUE

Please note that we need to do some maintenance on our servers, on Wednesday, October 20^th, between 9:00 PM and 12:00 AM.

Consequently, our Web site  www.ferique.com will be unavailable. You will nonetheless be able to access our transactional Web site at www.fondsferique.com.

Thank you for your understanding.


Gestion FÉRIQUE

FÉRIQUE MODERATE BALANCED and FÉRIQUE DIVIDEND Funds today celebrated their 1^st year of operation. Launched in October 2009, they suit investors with more conservative profiles.

FÉRIQUE MODERATE BALANCED Fund invests primarily in bonds, Canadian stocks, foreign equities and money market securities. Approximately 70% of the Fund is in fixed income securities and 30% in equities. It is best suited to investors with a low risk tolerance, seeking to invest in the medium or long term.

Since their inception, both funds have provided investors with enviable returns. As at September 30, 2010, FÉRIQUE MODERATE BALANCED Fund saw a 5,98 % return and FÉRIQUE DIVIDEND Fund posted 10,83 %.

For more information, click the following links to download the fact sheets for these funds: FÉRIQUE MODERATE BALANCED Fund and FÉRIQUE DIVIDEND Fund.

Gestion FÉRIQUE

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Great news! FÉRIQUE is proud to announce the launch of its new Registered Education Savings Plan (RESP) microsite.

In the Saturday, September 18, 2010 edition of La Presse, FÉRIQUE Funds were rated as some of the cheapest funds (in terms of management fees) in Canada: “Gestion FÉRIQUE offers engineers very efficient funds: annual fees are 0.57% for the Bond Fund and 0.78% for the Equity Fund, a five-star fund that’s been first in its class for 15 years.” To read the entire article, click here (in French only).

Should you have any questions or comments, please feel free to contact us.

In order to reduce costs related to mail-outs and protect our environment, Gestion FÉRIQUE sends these documents only to participants who request them. We thank all clients who have opted to view these reports directly on our Web site.

Should you need additional information, please feel free to contact an advisor at 1 800 291-0337.

Did you know that, according to a Leger Marketing poll, only one in three Canadians are making transactions online? Also, 45% of respondents said they aim to increase their investment knowledge and one in three said they are afraid to invest without sound advice. In other words, the expertise of qualified consultants is recognized by the market.

As financial planners, our mobile advisors can provide you with complete and detailed information on our Funds—in addition to giving you sound advice on managing your investments.

To make an appointment with a mobile advisor, call 1-800-291-0337, Monday through Friday, 8:00 a.m. to 8:00 p.m.

Please do not hesitate to contact them!


Gestion FÉRIQUE

Source: finance-investissement.com, July 27, 2010.

The socially responsible Proxy Voting Report for the second quarter of 2010 is now online. You can access the voting report now. This report is available in French only.

Happy reading !

Gestion FÉRIQUE

To subscribe to our mailing list or to modify your subscription profile, please click here.

This year, we offer you the opportunity to watch a French webcast of the Annual Meeting —in the comfort of your own home. You will see presentations from managers, learn how to calculate the unit value of our Funds, get practical advice on Tax Free Savings Accounts or find out the activities of our Board of Directors and Investment Monitoring Committee.

Everyone on our mailing list clientinfo has already received viewing instructions. Not on the list? Sign up now or e-mail us to get the Annual Meeting webcast.

Gestion FÉRIQUE

This past March 30th, Minister Bachand presented the 2010 provincial budget. To find out more details about this budget totaling 69.6 billion dollars, we invite you to read the following articles by clicking on the links below.

    - The Gazette: Quebec budget boosts sales tax, user fees
    - CBC News: Quebec 2010 Budget: Key Points



Gestion FÉRIQUE

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The FÉRIQUE Funds' Audited Annual Financial Statements as at December 31, 2009 as well as the Annual Management Reports on Fund Performance as at December 31, 2009 are now available online. To access them, please click here and select 2009 in the dropdown menu.

In order to reduce costs related to mail-outs and protect our environment, Gestion FÉRIQUE sends these documents only to participants who request them. We thank all clients who have opted to view these reports directly on our Web site.

Should you need additional information, please feel free to contact us.



Gestion FÉRIQUE

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Please note that Info FÉRIQUE's January 2010 issue is now online. To access it please click here. We hope that you will enjoy reading it!

Contents:

• Guaranteed Minimum Withdrawal Benefits: too good to be true ?
• An Olympic torch engineer amoug us
• Voting rights - Health care reform concerns shareholders
• Manager Profile: Domenic Monteferrante 
• Recent Board changes
• FÉRIQUE: Partner in innovation and future talent 
• A word from our partners: CIMA+

Should you have any questions or comments, please feel free to contact us.

Gestion FÉRIQUE

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The socially responsible Proxy Voting Report for the last quarter of 2009 is online.

Please click here to access it. This report is available in French only.

Gestion FÉRIQUE

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Gestion FÉRIQUE is greatly affected by the devastating earthquake that struck the Haiti coast on January 12. For this reason, we’re asking our clients to support the relief efforts of various agencies assisting the disaster victims. We would also like to emphasize the importance of the work of engineers from many countries, who are already or will soon be there to help rebuild the country.

Want to make a difference? Make a donation to one or more of these major relief organizations and charities:

Red Cross: online or 1-800-418-1111
Unicef: online or 1-800-567-4483
The Humanitarian Coalition: online or 1-800-464-9154
Doctors Without Borders:  online 

Remember that the federal government will make an equivalent “dollar for dollar” donation for every contribution Canadians make to assist Haiti victims—up to $ 50 million.

Give generously!

Gestion FÉRIQUE

Source: www.Radio-Canada.ca

Did you know that one of the main signs of aging known to human is far-sightedness ? Have you noticed lately that you must sit a few feet away from your computer screen to read a Web page?  If so, you may be experiencing the first signs of aging. But don't worry, Gestion FÉRIQUE thought about you. From now on, you can adjust the font size on all our Web pages until it agrees to your eyesight. Isn't that wonderful?

And that's not all.  We have also added an RSS feed in the section " Top news", so you may now receive the most recent FÉRIQUE news in your mailbox or on your cell phone as soon as they are posted. Furthermore, the "Events" section has been modified to allow you to subscribe online to many FÉRIQUE events, including ourupcoming annual meetings. To visit this page, click here.

Come surf on FÉRIQUE's Website and please do not hesitate to send us any suggestions that may contribute to improving its content and presentation.



Gestion FÉRIQUE

To subscribe to our mailing list or to modify your subscription profile, please click here.

The monthly update of FÉRIQUE Funds' returns and portfolio allocation, as well as the comparative data concerning market indices and industry medians as at December 31, 2009 are now online in the "FÉRIQUE Funds" section. Please click here to access it.  

A summary table of all our Funds' returns is available under Performance.

Should you have any questions or comments, please feel free to contact us.

Gestion FÉRIQUE


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In collaboration with the Section régionale du Bas-Saint-Laurent-Gaspésie, FÉRIQUE will be presenting a conference  entitled « 2009 Financial highlights » in Rimouski, on Tuesday, December 8, 2009.

This conference will be presented in French.

More details in the Events section. 

Gestion FÉRIQUE

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The Polytechnique Alumni Association (ADP), representing 27 000 engineering graduates, is celebrating its 100th anniversary this year. As Honorary President of the ADP centennial, Mr. Thierry Vandal, President and Chief Executive Officer of Hydro-Québec, will be launching the official festivities at the next Matin ADP on February 4th.

Under the theme « For a clean and durable energy future: Hydro-Québec's perspective », the breakfast conference (presented in French) will cover several important challenges such as greenhouse gas emission and global warming.

To subscribe to this special event or for more details about upcoming ADP conferences, click here: Matins ADP.  

Over the year, several activities will mark the Alumni centennial.  As "Major Partner" of the ADP since 2007, FÉRIQUE is proud to contribute to the success of the Alumni's activities.

Happy Anniversary!   


Gestion FÉRIQUE



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The monthly update of FÉRIQUE Funds' returns and portfolio allocation, as well as the comparative data concerning market indices and industry medians as at November 30, 2009 are now online in the "FÉRIQUE Funds" section. Please click here to access it.  

A summary table of all our Funds' returns is available under Performance.

Should you have any questions or comments, please feel free to contact us.

Subscribe to our mailing list.

FÉRIQUE WORLD Fund celebrates today its 16th year of activity. This is a significant event as only 3% of global funds in Canada have performance history of 16 years or more. Note that the median age of mutual funds in Canada is estimated to only 4.5 years according to the PALTrak survey (owned by Morningstar Research Inc.) as of July 31, 2009.

FÉRIQUE WORLD Fund is managed by McClean Budden Limited and totals 42 M$ as of November 30, 2009.

Gestion FÉRIQUE

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Please take note that during the Holiday Season, Gestion FÉRIQUE's administrative offices will be closed from December 24 to January 3 inclusively.

Our advisory service (1-800-291-0337) will be available as usual every business day from 8AM to 8PM in exception of the following:

December 24 and 31: from 8AM to 5PM
December 25, 28 and January 1: closed

Also, please note that the TSX closes at 1:00 PM on December 24. Consequently, all transactions made after 1:00 PM will be dated December 29, 2009. For December 31, all transactions made after 4:00 PM will be dated January 4, 2010.

Thank you and have a great holiday!

Gestion FÉRIQUE

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Mr. Marcel Vézina, Eng., MBA, will be Chairman of Gestion FÉRIQUE until the next annual meeting. He graduated from Polytechnique and spent most of his career at the Canada Mortgage and Housing Corporation (CMHC), where he held several management positions, including branch manager, real estate portfolio manager and financial controller. Mr. Vézina has been involved with FÉRIQUE since 1997—not only as a Board Director but also as a member of the Investment Monitoring Committee and many others.

Mr. Marcel Lafrance, Eng., succeeds Mr. Vézina as Vice Chairman. As the former owner and Chairman of Lauzon-based Davie de Lauzon Shipyards for many years, Mr. Lafrance made his mark as an entrepreneur and is now greatly respected in the business community as a mentor and speaker. From 2000 to 2006, he served on the FÉRIQUE Board, agreeing to return as a Director in April 2009.

We are very pleased with the new roles that they have taken within the organization.

Here are the 2009-2010 Board of Directors:

                        Marcel Vézina, Eng., MBA, Chairman

                        Marcel Lafrance, Eng., Vice Chairman

                        Molita Sexton, B. Sc, MBA, Adm. A., CMA, Treasurer

                        Jean Fournier, Eng., LL.B.

                        Jacques Laparé, Eng., MBA

                        Michel Letellier, Eng.

                        Robert L. Papineau, FIC, Eng., Ph.D., FCAE, O.Q.

                        Gabriel Soudry, Eng., MBA

                        Jean-Guy Tremblay, Eng., MBA

We would like to inform you that BlackRock Inc. recently acquired Barclays Global Investors. The transaction was completed on December 1, 2009. Consequently, Barclays Investors Canada Limited will operate under the name "BlackRock Asset Management Canada" ("BlackRock Canada").

This merger offers multiple advantages, including leading-edge products in all asset classes, a worldwide presence and greater scope. Its objectives remain the same: meet client needs by offering productive investments and generate optimal investment returns. Going forward, BlackRock will be a world leader with $3.2 trillion in assets under management.

Barclays has managed FÉRIQUE EQUITY Fund since April 2002. Through a diversified management style and quantitative security selection process, the firm manages one-third of the Fund's portfolio, representing $422 million in assets (as of October 31, 2009).

Gestion FÉRIQUE To subscribe to our mailing list or to modify your subscription profile, please click here.

In collaboration with the Section régionale des Cantons-de-l'Est, FÉRIQUE will be presenting a conference on estate planning and also a conference on the RRSP 2009-2010.

This conference will be presented in French.

More details in the Events section. 

Gestion FÉRIQUE

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FÉRIQUE will be presenting a conference on estate planning entitled « Les testaments et les successions » in Longueuil, on Monday, November 9, 2009. This conference will be presented in French.

More details in the Events section. 

Gestion FÉRIQUE

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Three FÉRIQUE Funds (Short-Term Income, Bond and Equity) have just celebrated 35 years in operation, a milestone that puts them in a select club in the investment world.

The achievement is all the more remarkable given that the median age of mutual funds in Canada is estimated at barely 4.5 years, according to the PALTrak survey (owned by Morningstar Research Inc.) at July 31, 2009. That sets these three FÉRIQUE Funds apart from no fewer than 4,722 other funds operating in the country.

FÉRIQUE Funds were established in 1974 by the Ordre des ingénieurs du Québec to offer members a unique approach to investing, along with exclusive tools to help them build financial success. Of the four fund families for professionals currently operating in Quebec, FÉRIQUE was the very first.

"Some of our clients have been investing with us since the very beginning," notes Pierre Desjardins, Chairman of Gestion FÉRIQUE. "Thirty-five years is a great accomplishment that illustrates the kind of confidence engineers have in our organization," adds Mr. Desjardins.

Over those 35 years, the three funds have also performed most impressively: the FÉRIQUE Short-Term Income Fund has earned investors a 6.8% return, the Bond Fund, 8.6%, and the Equity Fund, 10.8% (annualized returns since inception, as at July 31, 2009). Over a 25-year horizon, these three funds all rank in the top decile of the industry.

"On average, more than 300 mutual funds are created and terminated every year in Canada," says Fabienne Lacoste, Executive Director of Gestion FÉRIQUE. "Funds that perform poorly or have little success are often closed or merged after a certain amount of time, and their performance history is no longer available for comparison purposes. Thus, the longer the period over which returns are compared, the more you are comparing with the cream of the crop, or at least with the ‘survivors'," concludes Ms. Lacoste.

About Gestion FÉRIQUE

Founded on January 1, 2000, Gestion FÉRIQUE (www.ferique.com) manages the FÉRIQUE Funds, launched in 1974 by the Ordre des ingénieurs du Québec. FÉRIQUE is the only not-for-profit mutual fund company in Canada whose sole purpose is to serve the interests of engineers and their families. The firm offers eight mutual funds diversified across all asset classes. Management of the funds is entrusted to renowned investment firms which are hand-picked by Gestion FÉRIQUE, based on their superior asset class expertise. FÉRIQUE Funds have more than $1.2 billion in assets under management and nearly 23,000 clients.

Contact : Manon Duhamel, 514-840-9206, ext. 3229

The monthly update of FÉRIQUE Funds' returns and portfolio allocation, as well as the comparative data concerning market indices and industry medians as at September 30, 2009 are now online in the "FÉRIQUE Funds" section. Please click here to access it.  

A summary table of all our Funds' returns is available under Performance.

Should you have any questions or comments, please feel free to contact us.

Subscribe to our mailing list.

Montreal, October 8, 2009 – Gestion FÉRIQUE, manager of the FÉRIQUE Funds, announces the launch of two new mutual funds: FÉRIQUE MODERATE BALANCED Fund and FÉRIQUE DIVIDEND Fund. Both are available as of today and, like all other FÉRIQUE products, are exclusive to engineers, their families and their companies.

"The new funds were created in response to recent changes in our clients' needs," explained Fabienne Lacoste, CFA, Executive Director of Gestion FÉRIQUE. "A growing number of investors are looking for vehicles that suit a more conservative profile or provide regular income. For some, this need is associated with the approach of retirement. For others, it is related to changes in their investor profile, often in reaction to market volatility. By adding these two funds to our family, we make sure that we can continue meeting our clients' needs at every stage of their lives and however their personal profile may change."

Contrary to a strong trend in the industry, which, in Canada, includes more than 5,000 funds, launching new funds is not a common event for Gestion FÉRIQUE. The last time it happened was in 2003, when FÉRIQUE EUROPEAN and ASIAN Funds were added to the lineup. While the median age of Canadian mutual funds is barely 4.5 years, four of the 10 FÉRIQUE funds have been around for 35 years.

"We make a serious effort to listen to our unitholders and target exactly what they want," added Ms. Lacoste. "Furthermore, since we are a not-for-profit corporation and do not pay commissions to financial intermediaries, launching a new fund is more complicated for us. That is why we are particularly proud to mark the 35th anniversary of FÉRIQUE Funds by adding to the solutions we offer our clients."

The FÉRIQUE DIVIDEND Fund is invested primarily in common and preferred Canadian stocks that pay good dividends. It may also include income trust units or dividend-bearing foreign stocks. Foreign investment is limited to no more than 10% of total assets. The fund seeks to achieve a balance between high income, mainly in the form of dividends, and, to a lesser extent, long-term capital growth. It is designed for investors with moderate risk tolerance, investing over the medium and long term.

The FÉRIQUE MODERATE BALANCED Fund is invested primarily in bonds, Canadian and foreign stocks and money market securities. Seventy percent of the fund is in fixed-income securities and 30% is in stocks. The goal is to maximize investment return and, to a lesser extent, ensure long-term capital growth through asset diversification. This fund is for investors with low risk tolerance, investing over the medium or long term.

The management expense ratio for the two funds is only 0.85%, which puts them in the third and the last percentile, respectively, in their fund categories in Canada, in terms of management fees (source: PALTrak survey, owned by Morningstar Research Inc., as of August 31, 2009).

The October 2009 issue of Info FÉRIQUE is now on line in our Publication section.  To access it, please click here.  We hope you will enjoy reading it!   

Should you have any questions or comments, please feel free to contact us.

 To subscribe to our Info FÉRIQUE emailing list, click here.

Gestion FÉRIQUE

Please note an amendment to the 2009 FÉRIQUE Funds Simplified Prospectus and Annual Information Form has been posted our our Website in the "Publications" section. Please click here to access these documents.

In order to comply with regulations governing mutual funds, a printed copy of the 2009 Simplified Prospectus and amendments will be sent to any investor upon the first transaction in the FÉRIQUE Funds occurring prior to the 2010 update.

Should you have any questions or comments, please feel free to contact us.

Montreal, October 1, 2009 – Gestion FÉRIQUE, Manager of the FÉRIQUE Funds, today announced changes to the portfolio advisers lineup of the FÉRIQUE BALANCED Fund.

Effective on or about October 7, 2009, the FÉRIQUE BALANCED Fund will invest equal portions of its portfolio formerly invested in Canadian equity assets, which represents approximately 30% of the total assets of the FÉRIQUE BALANCED Fund, directly in units of the FÉRIQUE EQUITY Fund and the newly established FÉRIQUE DIVIDEND Fund.

As a result, Gestion FÉRIQUE announced the termination of Foyston, Gordon & Payne and MFC Global Investment Management as portfolio advisers to the FÉRIQUE BALANCED Fund with respect to the Canadian equity mandate. The termination takes effect on October 7, 2009.

"We believe this is a positive change for our investors", said Fabienne Lacoste, Executive Director of Gestion FÉRIQUE. "We view this new lineup as a more effective way to manage Canadian equities within the Fund, and we further improve our management fee structure by reducing the number of portfolio advisers", added Mrs. Lacoste.

In addition to such changes, amendments and other ancillary changes to the FÉRIQUE BALANCED Fund and to the other FÉRIQUE Funds will be made as a result of the establishment of two new FÉRIQUE Funds, the FÉRIQUE DIVIDEND Fund and the FÉRIQUE MODERATE BALANCED Fund, both established on October 1, 2009. The new Funds will be available for investment on October 8, 2009.

Amendments to the Simplified Prospectus and Annual Information Form of the FÉRIQUE Funds dated June 19, 2009 will be filed on or about October 1, 2009 with the applicable securities regulatory authorities reflecting the changes described above.

About Gestion FÉRIQUE

Founded on January 1, 2000, Gestion FÉRIQUE (www.ferique.com) manages the FÉRIQUE Funds, launched in 1974 by the Ordre des ingénieurs du Québec. FÉRIQUE is the only not-for-profit mutual fund company in Canada whose sole purpose is to serve the interests of engineers and their families. The firm offers ten mutual funds diversified across all asset classes. Management of the funds is entrusted to renowned investment firms which are hand-picked by Gestion FÉRIQUE, based on their superior asset class expertise. FÉRIQUE Funds have more than $1.3 billion in assets under management and nearly 23,000 clients.

- 30 -

SOURCE:
Manon Duhamel Director, Marketing and communications
Gestion FÉRIQUE
T. 514 840-9206, ext. 3229
manon.duhamel@ferique.com

Our Short-Term Income Fund was recently cited in the Globe and Mail among the 15 best money market funds for cash investments.

It is worth mentioning that this fund has produced first-quartile performance (i.e. a return greater that 75% of all comparable funds in Canada) for all periods as at August 31, 2009 (source: PALTrak Survey, owned by Morningstar Research Inc.).

http://www.theglobeandmail.com/blogs/number-cruncher/the-best-and-the-worst-places-to-park-your-cash/article1276776/

It is with deep regret that we announce the death of Mr. Pierre Desjardins, FEC, Eng., Chairman of Gestion FÉRIQUE, on September 7 at the age of 67. Please read the attached notice.

The socially responsible Proxy Voting Report for the second quarter of 2009 is online. 

Please click here to access it. This report is available in French only.

The monthly update of FÉRIQUE Funds' returns and portfolio allocation, as well as the comparative data concerning market indices and industry medians as at May 31, 2009 are now online in the "FÉRIQUE Funds" section. Please click here to access it.  

A summary table of all our Funds' returns is available under Performance.

Please note that on June 24, 2009, our telephone advisory-service will be available from 9:00 a.m. to 5:00 p.m. Our normal business hours (8:00 a.m. to 8:00 p.m.) will resume on June 25.

Thank you.

The FÉRIQUE Funds' Simplified Prospectus, edition 2009, is now available on line. Click here to access it.

This document explains the risks of different types of investments, purchase and redemption procedures, fees, tax implications, and investor rights - in addition to providing detailed fund information. It is recommended to read the prospectus before investing in a Fund.

Please note that to comply with regulations governing mutual funds, a printed copy will be sent to any investor upon the first transaction in the FÉRIQUE Funds occurring prior to the 2010 update.

For more information, please feel free to contact one of our dedicated advisors at 1 800 291-0337.

To subscribe to our mailing list and be advised upon the publication of our documents, click here.

The Summary of Investment Portfolio as of March 31, 2009 for each Fund is now online. To access it, please click here.

These reports are produced for the quarters ending March 31 and September 30 of each year.

Should you have any questions or comments, please feel free to contact us.

Gestion FÉRIQUE

Please note that the provincial subsidy (QESI) for the contributions you made to your RESP in 2007 has been credited to your account. Concerning your 2008 contributions, the subsidy will be paid by the end of May 2009.

The QESI (Québec Education Savings Incentive) is a tax credit granted by the Quebec government, which is equivalent to 50% of the basic federal subsidy (i.e., 10% of your annual RESP contributions), for a maximum of $3,600 per child on a cumulative basis.

We encourage you to consult your next statement or access your account online to ensure that you have received the correct subsidy.

If you have any questions, please don't hesitate to call our advisory service at 1-800-291-0337 (Monday to Friday, 8:00 AM. to 8:00 PM).

A FERIQUE Funds mobile advisor, Mr. Frédéric Robin, Fin. Pl., will be present on the North Shore region from June 8 to June 12 inclusively.

If you wish to meet him to get advice on your investments or for any other subject pertaining to financial planning (retirement, taxation, personal finance, insurance and risk management, estate planning), you may contact him directly to make an appointment at 1-888-259-7969, ext. 3225, or by email at frederic.robin@ferique.com.

Our financial planning services are offered free of charge to all our clients.

The monthly update of FÉRIQUE Funds' returns and portfolio allocation, as well as the comparative data concerning market indices and industry medians as at April 30, 2009 are now online in the "FÉRIQUE Funds" section. Please click here to access it.  

A summary table of all our Funds' returns is available under Performance.

Financial Retirement Planification

Gestion FÉRIQUE

Vous trouverez un document explicatif dans la section Publications sous la rubrique Matériel éducatif.  Pour y accéder, cliquez ici.

Gestion FÉRIQUE

The FÉRIQUE Funds' Audited Annual Financial Statements as at December 31, 2008 as well as the Annual Management Reports on Fund Performance as at December 31 2008 are now available online. To access them, please click here and select 2008 in the dropdown menu.

In order to reduce costs related to mail-outs and protect our environment, Gestion FÉRIQUE sends these documents only to participants who request them. We thank all clients who have opted to view these reports directly on our Web site.

Should you need additional information, please feel free to contact us.

Did you know that Gestion FÉRIQUE is probably the only mutual fund company in Canada to hold annual unitholder meetings?

These meetings give you an opportunity to meet some of our managers, stay informed about developments at your mutual fund company and exchange ideas with management. This is yet another advantage unique to FÉRIQUE.

Have you reserved yet?

 

Montreal	Quebec City
Tuesday, April 28, 7:30 PM Hyatt Regency (Complexe Desjardins) Salle Alfred-Rouleau 1255 Rue Jeanne-Mance, Montreal, H5B 1E5 (Coffee and beverages will be served)	Thursday, May 7, 6:00 PM Château bonne entente Salle Garneau-Lemelin-Thériault 3400 Chemin Sainte-Foy, Quebec City, G1X 1S6 (Snack will be served)

The 30s

Gestion FÉRIQUE

The April 2009 issue of INFO FÉRIQUE is now online. To access it, please click here.  We hope that you will enjoy reading it!

Should you have any questions or comments, please feel free to contact us.

If you wish to subscribe to our mailing list, please click here:

Gestion FÉRIQUE

The monthly update of FÉRIQUE Funds' returns and portfolio allocation, as well as the comparative data concerning market indices and industry medians as at February 28, 2009 are now online in the "FÉRIQUE Funds" section. Please click here to access it.  

A summary table of all our Funds' returns is available under Performance.

In December, we launched the Win Your TFSA Contest to mark the arrival of the new Tax-Free Savings Account (TFSA). All unitholders who opened a TFSA between December 15, 2008 and February 20, 2009 were eligible.

The prize consisted in an amount equivalent to the total contributions deposited into the account at contest end—up to $5,000, the maximum annual contribution limit for TFSAs.

A random draw was held at our offices on February 24, a lucky day for Montreal engineer François Dorval, who won a $5,000 prize! This amount was deposited in the FÉRIQUE Fund of his choice, in accordance with our contest rules and regulations.

Mr. Dorval is a mechanical engineering graduate (1985) of École Polytechnique and has been a steadfast FÉRIQUE Fund unitholder since 1991. We take this opportunity to thank him for his confidence, along with everyone who opened a TSFA account with us. Our heartiest congratulations to the lucky winner!

For more information on TFSAs, visit www.feriquetfsa.com.

Like other "professional funds", FÉRIQUE Funds are often ignored by today's journalists, since they are exclusively for engineers and their families. However, FÉRIQUE's name pops up from time to time, when the media scrutinizes industry databases, regardless of the unitholder.

On December 1, 2008 article on bank savings accounts, La Presse called FÉRIQUE Short-Term Income Fund one of the "least greedy and automatically the top performing fund" of the money market funds available. Our Fund also saw a first-quartile return, higher than 75% of its peers in Canada, for every period over the past 25 years.

More recently, the February 21 edition of The Globe and Mail included FÉRIQUE Equity Fund in a list of the 15 top-performing Canadian equity funds over the past 20 years. Our Fund ranks 10th on this list and, as noted in the article, is one of the 13 funds that outperformed the S&P/TSX Composite Index during the same period.

This was a momentous year that left a permanent mark on the financial service industry. Stock and credit markets were severely battered by a confluence of negative news, causing world stock market indices to plummet over 30% (in local currency). The Lehman Brothers bankruptcy in September 2008 shook the US financial system to its core, triggering a crisis of confidence in the banking sector. Even the massive injection of liquidity by central banks could not stem the tide of colossal losses recorded in the last three months of the year.

However, currency fluctuations boosted the performance of FÉRIQUE Funds with foreign equity exposure. For example, the US dollar and yen gained ground against the loonie, rising 25% and 54% respectively, increasing the value of our foreign investments (in Canadian dollars).

In absolute terms, only our SHORT-TERM INCOME and BOND Funds saw positive returns for 2008. While our other FÉRIQUE Funds posted negative returns, all our equity funds matched or outperformed their peers*. Our EQUITY Fund not only outperformed its peers, but also its benchmark index (S&P/TSX Compound) for the third consecutive year.

Relative to the industry, our SHORT-TERM INCOME, EUROPEAN and WORLD Funds ranked first quartile in Canada, while our BOND, EQUITY, AMERICAN and ASIAN Funds ranked second quartile, which is in line with our objective of outperforming the median return of comparable funds in every category. While our BALANCED Fund outperformed its peers for most periods (3, 5 and 10 years), it slightly underperformed the median fund for the 12-month period ending December 31, 2008. We can assure you that this situation is temporary—we are working to ensure that our BALANCED Fund's once again outperforms funds of its kind.

In short, FÉRIQUE Funds performed well relative to their comparative universes. Seven of our eight funds matched or outperformed their peers for the 12-month period.In the longer term, our performance relative to the industry remains very compelling: six of the eight FÉRIQUE Funds saw returns equal to or better than their respective peers over a 5-year period, and five funds out of six over a 10-year period.

FÉRIQUE employees and our volunteers on the Board of Directors and Investment Monitoring Committee are jointly committed to offer you high-quality investment products and superior returns in line with our objectives.

Your loyalty is very important to us. Thank you for your continued confidence.

Gestion FÉRIQUE

The January 2009 issue of INFO FÉRIQUE is now online. We hope that you will enjoy reading it! To access it, please click here. 

Contents:

• The TFSA era has arrived
• Voting rights: Human rights on the Cisco meeting agenda
• New manager for the FÉRIQUE BOND Fund
• Survey: Thank you!
• Manager Profile: Stephen Dubrovsky
• Attention, Travellers!
• A word from our partners: Fonds de développement de l'ÉtS

Should you have any questions or comments, please feel free to contact us.

To subscribe to our Info FÉRIQUE emailing list, click here.

Gestion FÉRIQUE

Notice to Registered Retirement Income Fund (RRIF) holders

With regards to the new fiscal law designed to allow for a reduction of 25% on the minimum RRIF amount withdrawn as of 2008, please note that this law has not been adopted yet by the Parliament which is suspended until January 26, 2009. 

Our fiduciary, National Bank Trust, has decided to wait for the adoption of this new fiscal measure before making any changes to RRIF accounts.

Clients who have already withdrawn or who will withdraw the minimum for 2008 can refund the excess amount withdrawn by the latest (a) the 1st of March, 2009 or (b) 30 days after the adoption of the new tax law.

Clients wishing to benefit from this new fiscal law should contact our advisory service at 1-800-291-0337 once the law is in force. 

The TFSA (Tax Free Savings Account) era has arrived!

You can now go ahead with the paperwork to open your FÉRIQUE TFSA, so you'll be ready to invest in January 2009. Please contact a FÉRIQUE advisor at 1–800–291–0337 (Monday to Friday, 8:00 am - 8:00 pm).

Click here for complete information about the TFSA.

Contribute to your FERIQUE TFSA before February 20 for a chance to win the amount of your contribution! Details and rules.

You must contribute to your Registered Education Savings Plan (RESP) before December 31 in order to receive your government grants for 2008. More details.

In order to accelerate the process of making your RRSP contribution for fiscal year 2008, we recommend that you either proceed by using our transactional Website or by contacting one of our advisors at 1-800-291-0337 (Monday through Friday, 8:00 a.m. to 8:00 p.m.) as opposed to sending us a check as this would inherently take more time.

Furthermore, the RRSP season is a busy time of the year for our advisory service, so you may have to wait a little longer than usual to get in touch with one of our advisors, especially during the last two weeks of February. Thus, we invite you to call us as soon as possible if you choose to make your contribution via our toll-free line, so as to avoid the waiting.

Thank you for your cooperation!

The webcast of our November 25th conference entitled "L'investisseur face à l'incertitude des marchés" is now available. Click here to subscribe and access it. We hope you appreciate this initiative.

Gestion FÉRIQUE

Please read the press release below.

Our November 25th conference about market uncertainty is sold out. Thanks to all people who have confirmed their attendance.

Please note that we will not accept anyone whose name is not included on our presence list.

Gestion FÉRIQUE
info@ferique.com

(Please note : this conference will be presented in French)

Dealing with market uncertainty: better understanding... for a better idea of how to react!

You are cordially invited to join us for our special conference to be held in Montreal, November 25, 2008. Our speakers will be dealing with topics of current interest such as investor psychology, market instability and irrationality, the domino effect, and the historical view.

Our guest speakers will be:

• Mrs. Nicole Côté, Ph.D. in psychology from Montreal University, graduate of the Gestalt Institute of Cleveland and columnist at Affaires Plus
• Mr. Simon van Norden, Ph.D. in Economy from the Massachussetts Institute of Technology (MIT) and Professor at the Department of Finance at HEC Montréal
• Mr. René Vézina, graduate in journalism from Laval University and columnist at Les Affaires.

After the conference, you will be in a better position to understand what is happening with the markets in these uncertain times.

For our clients in other areas, we will be pleased to rebroadcast this conference on our Web site (details will be available at www.ferique.com after the conference).

Seating is limited, so please confirm your attendance without delay.

Looking forward to seeing you there!

Tuesday, November 25, 2008
7:00 p.m. to 9:30 p.m.
Hyatt Regency Montreal
Salon Alfred-Rouleau
1255 Jeanne-Mance St.

Reserve your seat by e-mail:
info@ferique.com

For information:
514-840-9206, ext. 3238

When :   Wednesday, October 8, 2008 from 6:00 pm to 9:00 pm 
Where :  Ruby Foo's, 7655 Décarie blvd., Montreal (between Metro de la Savane and Namur).

When do you want to retire? When will you be able to retire?

The purpose of this conference is to help you set objectives for achieving your "ideal" retirement. Here are some of the questions we will try to answer:
 
- How much do you think you will receive for your Old Age Security pension? 
- How much money will you need to ensure a comfortable retirement? 
- How much do you think you will receive for your Quebec Pension Plan?
- Will you be eligible to the guaranteed income supplement? 
- Is it better to withdraw from your RRSPs first or last?
- How will inflation affect your retirement? 
- Is it preferable to invest in FÉRIQUE Funds or in Fonds de Solidarité FTQ?
- At age 69, is it better to invest in an RRIF or to purchase a life annuity?
 
Conference is free and dinner will be served.
Reserve your seat by email.

The August 31, 2008 update of FÉRIQUE Funds' returns and monthly data is now online in the "FÉRIQUE Funds" section. A table summarizing the performance of all funds is also available on the «Performance» page. 

For more information, please feel free to email us at : info@ferique.com.

We greatly regret to inform you that Mr. Claude Tremblay, Eng. died at age 63 on August 29, 2008.

An engineering graduate of the University of Western Ontario with an MBA from Université Laval, Mr. Tremblay was a member of the Gestion FÉRIQUE Board of Directors since 2004 and served as Vice-Chair of the Board from 2005 to 2007.

Mr. Tremblay had also chaired the Responsible Investment Committee, which accomplished a colossal analytical effort in 2005, leading to the drafting of the FÉRIQUE Funds Socially Responsible Proxy Voting Policy, in force since April 6, 2006. This issue was a very significant milestone in FÉRIQUE's development.

We will remember Claude Tremblay as a fair-minded and honest man, who had the firm's best interests at heart. A graduate of the Collège des administrateurs de sociétés, he made a remarkable contribution to the Board of Directors, particularly as an expert in corporate governance.

We wish to offer our sincerest condolences to his wife and family.

* * * * * * * * * * * * * *

The family will receive condolences on Friday, September 5, 2008, from 3 p.m. to 5 p.m., at Centre funéraire du Plateau, located at 693 Avenue Nérée-Tremblay in Quebec City. At the family's request, donations can be made to Unicef Québec, 945 Chemin Ste-Foy, Quebec, G1S 2L3.

For more information:
Coopérative funéraire des Deux Rives (Anse-Plateau), 418- 688-2411
www.coopfuneraire2rives.com.

The FÉRIQUE Funds' 2008 Interim Financial Statements (unaudited) as at June 30, 2008 as well as the 2008 Interim Management Reports of Fund Performance as at June 30, 2008 are now available online. Please click here to access them.

In order to reduce costs related to mail-outs and protect our environment, Gestion FÉRIQUE mails these documents only to participants who request them. We whish to thank all our clients who have opted to view these reports directly on our Website.

Should you need additional information about these reports, please feel free to contact an advisor at 1 800 291-0337.

The monthly update of FÉRIQUE Funds' returns and portfolio allocation, as well as the comparative data concerning market indices and industry medians as at July 31, 2008 are now online in the "FÉRIQUE Funds" section. Please click here to access it.  

A summary table of all our Funds' returns is available under Performance.

The June 30, 2008 update of FÉRIQUE Funds' returns and monthly data is now online in the "FÉRIQUE Funds" section. A table summarizing the performance of all funds is also available on the «Performance» page. 

The comparative data concerning market indices and industry medians is usually available around the 10th business day following month-end. This data will be updated subsequently.

The April 30, 2008 update of FÉRIQUE Funds' returns and monthly data is now online in the "FÉRIQUE Funds" section. A table summarizing the performance of all funds is also available on the «Performance» page. 

The comparative data concerning market indices and industry medians is usually available around the 10th business day following month-end. This data will be updated subsequently.

The March 31, 2008 update of FÉRIQUE Funds' returns and monthly data is now online in the "FÉRIQUE Funds" section. A table summarizing the performance of all funds is also available on the «Performance» page. 

For more information, please feel free to email us at : info@ferique.com.

The socially responsible Proxy Voting Report for the first quarter of 2008 is online.

Please click here to access it. This report is available in French only.

The Summary of Investment Portfolio as of March 31, 2008 for each Fund is now online. To access it, please click here.

These reports are produced for the quarters ending March 31 and September 30 of each year.

Should you have any questions or comments, please feel free to contact us.

Gestion FÉRIQUE

The FÉRIQUE Funds' 2007 Audited Annual Financial Statements as at December 31, 2007 as well as the 2007 Annual Management Reports on Fund Performance as at December 31 2007 are now available online. Please click here to access them.

In order to reduce costs related to mail-outs and protect our environment, Gestion FÉRIQUE sends these documents only to participants who request them. We thank all clients who have opted to view these reports directly on our Web site.

Should you need additional information, please feel free to contact us.

For unitholders residing in the Abitibi region, please note that a mobile advisor will be in your area on May 6 and 7, 2008.

Should you wish to meet him for a financial plan or for advisory services on your investments,  please contact him to make an appointment at 1-888-259-7969, ext 3225 or by e-mail at frederic.robin@ferique.com .

The monthly update of FÉRIQUE Funds' returns and portfolio allocation, as well as the comparative data concerning market indices and industry medians as at February 29, 2008 are now online in the "FÉRIQUE Funds" section. Please click here to access it.  

A summary table of all our Funds' returns is available under Performance.

To accelerate processing of your RRSP contribution for the 2007 taxation year, we recommend that you use our transaction site at www.ferique.com or call us at 1-800-291-0337 to make your contribution electronically from your bank account rather than send a cheque.

2007 Fund Performance

The markets were very challenging for investors in 2007. This environment had an impact on the absolute annual returns of some of our funds.

While FÉRIQUE SHORT-TERM INCOME, BOND, BALANCED and EQUITY Funds saw positive returns in 2007, our foreign funds were affected by the loonie's rise of around 18% against its US counterpart, which led to negative returns in Canadian dollars. In absolute terms, FÉRIQUE BALANCED Fund also felt the impact due to its 30% foreign equity weighting.

On a positive note, FÉRIQUE EQUITY Fund particularly stood out in 2007 with a performance of 10.9%, representing a 2.8% added-value relative to the median return of all Canadian equity funds in its category. FÉRIQUE BALANCED, SHORT-TERM INCOME and BOND Funds also outperformed their peer medians, with value added of 1.5%, 0.5% and 0.7% respectively.

Among our foreign funds, FÉRIQUE ASIAN Fund replicated the median return of the Asian equity universe, while the returns of FÉRIQUE AMERICAN, EUROPEAN and WORLD Funds underperformed their respective medians.

To summarize: for the 12-month period ending December 31, 2007, FÉRIQUE SHORT-TERM INCOME, BOND and EQUITY Funds produced first quartile returns in 2007, FÉRIQUE BALANCED and ASIAN Funds generated second quartile returns, FÉRIQUE AMERICAN and WORLD Funds posted third quartile returns, and FÉRIQUE EUROPEAN Fund's performance ranked in the forth quartile.In the longer term, our returns relative to the industry remain very compelling, with FÉRIQUE Funds outperforming their respective five- and 10-year medians, as at December 31, 2007.

We hope that the market environment will be favourable for investors in 2008. Of course, as we wrote in the January edition of our INFO FÉRIQUE newsletter, savvy investors should avoid the short-term management of their investments. Ensure that your portfolio is well diversified and matches your objectives and risk tolerance. Evaluate your returns over the long term.

Please do not hesitate to call our advisory services to review your portfolio strategy, whenever necessary.

Please note: comparative median returns and quartile rankings are as published in the PALTrak survey (Morningstar Research Inc.) as at December 31, 2007.

The Proxy Voting Report for the fourth  quarter of 2007 is online. Please click here to access it. This report are available in French only.

The January 2008 issue of INFO FÉRIQUE is now online. To access it, please click here. We hope that you will enjoy reading it!

Should you have any questions or comments, please feel free to contact us.

Gestion FÉRIQUE

December 24: Open from 8 p.m. to 3 p.m.
December 27-28: Open from 8 p.m. to 8 p.m.
December 31: Open from 8 p.m. to 5 p.m.
December 25-26 and January 1-2: Closed

On behalf of the entire team at Gestion FÉRIQUE, we would like to thank all our clients and wish you a great Holiday season and a happy New Year!

We recently made two additions to our Web site at the request of some clients:

• On the home page, the table of unit values now displays the rate of return for each Fund since the beginning of the month and year, on the indicated date. 
   
• A new page, "Price and Distributions," has been added to the "FÉRIQUE Funds" section. This page allows you to display the unit values, total distributions and cumulative returns of all our Funds simultaneously for any given period. You can also download the complete history of prices and distributions in Excel for all the Funds simultaneously.

We hope that you will find these additions useful. Please do not hesitate to contact us if you have any questions or comments.

The Proxy Voting Report for the third quarter of 2007 is online. Please click here to access it. This report is available in French only.

Starting December 3, 2007, you can FINALLY open Registered Education Savings Plan accounts for your children or grandchildren directly with us. After years of waiting, this is certainly good news for many of you!

• What is an RESP?

It's a special savings plan where money grows tax free until it is withdrawn for postsecondary education. RESP contributions are made by a subscriber on behalf of one or more beneficiaries named in the plan.

The Human Resources and Social Development Canada Web site offers a goldmine of useful information about RESPs at this address: http://www.hrsdc.gc.ca/en/hip/lld/cesg/publicsection/CESP/RESPs_General.shtml.

• Already investing your RESP in FÉRIQUE Funds through National Bank Direct Brokerage (NBDB)?

If it's the case, you should have already received a letter informing you that your RESP account will be transferred to us automatically as of December 14—as long as it holds FÉRIQUE Fund units and no other investments (units of other mutual funds). This transfer will be made free of charge.

If your RESP account with NBDB holds other types of investments in addition to FÉRIQUE Funds, you must contact NBDB to discuss the conditions for transferring your account, if you so desire.

• Have an RESP account with another financial institution?

Transfer your RESP account to Gestion FÉRIQUE and no longer pay administration or transaction fees—in addition to saving on management fees. You can request a transfer starting December 3 by calling our advisory service.

It is possible that the financial institution where your RESP is currently held charges fees to transfer your account. However, a simple calculation will show you that these fees will be offset quickly by the savings you make with a FÉRIQUE RESP.

• Don't have an RESP account yet?

Open an RESP account before December 31 to benefit from the 2007 government grant. Starting December 3, our advisors can guide you on the RESP that best suits you (individual or family plan) and answer all your questions about the conditions of this program—in addition to opening your account.

Please note that you must first obtain a birth certificate and social insurance number for the beneficiary or beneficiaries of your RESP account.

You must contact the government of the province or territory where the beneficiary was born for details on how to obtain a birth certificate. In Quebec, this service is governed by the Directeur de l'état civil (1-800-567-3900 or http://www.etatcivil.gouv.qc.ca/en/certificate-copy-act.html).

You can obtain a social insurance number free of charge through your local Service Canada Centre (1-800-622 6232 or http://www.servicecanada.gc.ca/en/sc/sin/index.shtml). You must allow for a delay of about three weeks if you make your request by mail.

How can you benefit from a Gestion FÉRIQUE RESP?

It's as clear as 1+2=3!

1 You save on management fees: our fees are among the lowest in Canada.

2 You pay no account opening charges or transaction fees on your contributions or the annual government grant: you save about $35 per transaction on average.

3 You invest in quality funds that seek to outperform industry peers at a reasonable risk level—a winning strategy for growing your investment in your children's future.

In cooperation with Salon génie carrières, Gestion FÉRIQUE is pleased to present a conference on 2008 economic outlooks for engineers and engineering professionals.

This conference will feature Benoit Paradis, Senior Vice-President at McLean Budden Limited, and François Galarneau, Senior Economist at Addenda Capital Inc.. These financial experts will present their outlook for the bond, stock and labour markets, and for the industrial products, real estate and infrastructure sectors.

Tuesday, November 20, 2007, from 7:00 p.m. to 9:00 p.m.
Salon génie carrière, Palais des congrès de Montréal
www.salongeniecarrieres.com

This event is reserved for engineers and engineering professionals. Conference and all material will be presented in French only. Free admission. Space is limited.
Reserve now at 514-840-9206 (ext. 3238).

Gestion FÉRIQUE

To subscribe to our mailing list and be notified of upcoming events, click here.

FÉRIQUE ASIAN Fund is now more comprehensive and diversified, with investments in a greater number of Asian countries, including emerging markets.

Since September 1, 2007, FÉRIQUE ASIAN Fund has been benchmarked against a new comparative index: the MSCI AC Asia Pacific Index (CAD). This index covers not only every country and region in the MSCI Pacific Basin Index, but also includes emerging markets such as China, India, Malaysia, Indonesia, the Philippines, Thailand and Pakistan.

With the adoption of this new benchmark, there is one notable Fund difference, among others: less exposure to Japan and Australia and more exposure to emerging markets—to a maximum of 30% of the Fund, as specified in the FÉRIQUE Funds Simplified Prospectus.

Although emerging markets are more volatile over time due to smaller market capitalization and less liquidity, they offer attractive fundamentals relative to those of developed countries. As a result, FÉRIQUE ASIAN Fund unitholders may benefit from emerging market growth and rising investment opportunities.

The MSCI AC Asia Pacific Index is published by Morgan Stanley Capital International. It is standardized and commonly used by large institutional managers around the world.

Important information regarding FÉRIQUE Funds can be found in the Simplified Prospectus. Please read it carefully before investing.

The Summary of Investment Portfolio as of September 30, 2007 for each Fund is now online. To access it, please click here.

These reports are produced for the quarters ending March 31 and September 30 of each year.

Should you have any questions or comments, please feel free to contact us.

Gestion FÉRIQUE

The October 2007 issue of INFO FÉRIQUE is now online. To access it, please click here. We hope that you will enjoy reading it!

Should you have any questions or comments, please feel free to contact us.

Gestion FÉRIQUE

The September 30, 2007 update of FÉRIQUE Funds' returns and monthly data is now online in the "FÉRIQUE Funds" section. A table summarizing the performance of all funds is also available on the «Performance» page. 

The comparative data concerning market indices and industry medians is usually available around the 10th business day following month-end. This data will be updated subsequently.

Two new conferences will be presented by Gestion FÉRIQUE this Fall:  "L'impôt et la vision 3D" and "Préparation financière à la retraite". Please refer to our Events section for more details.

Gestion FÉRIQUE

To subscribe to our mailing list and be notified of upcoming events, click here.

The August 31, 2007 update of FÉRIQUE Funds' returns and monthly data is now online in the "FÉRIQUE Funds" section. A table summarizing the performance of all funds is also available on the «Performance» page. 

The comparative data concerning market indices and industry medians is usually available around the 10th business day following month-end. This data will be updated subsequently.

The FÉRIQUE Funds' 2007 Interim Financial Statements (unaudited) as at June 30, 2007 as well as the 2007 Interim Management Reports on Fund Performance as at June 30, 2007 are now available online. Please click here to access them.

In order to reduce costs related to mail-outs and protect our environment, Gestion FÉRIQUE sends these documents only to participants who request them. We thank all clients who have opted to view these reports directly on our Web site.

Should you need additional information, please feel free to contact an advisor at 1 800 291-0337.

The Proxy Voting Reports for the first and second quarters of 2007 are online. Please click here to access them. These reports are available in French only.

Gestion FÉRIQUE would like to inform its clients that its money market fund, FÉRIQUE SHORT-TERM INCOME Fund, does not hold any investments associated with Coventree, a firm whose liquidity problems have been reported in the media over the past few days.

Like other money market funds, FÉRIQUE SHORT-TERM INCOME Fund seeks to preserve capital and maximize income, primarily by investing in commercial paper, bank acceptances and government treasury bills.

"Contrary to what has been reported by the media, it is completely normal and even beneficial for a money market fund to hold asset-backed securities," said Fabienne Lacoste. "This type of investment can be found on the top 15 list of securities of most money market funds. Although our Fund has not been affected by unusual investor redemptions, we regret that this situation has reached alarming proportions on the market and we want to remind investors that there is no cause for concern," added Ms. Lacoste.

The asset-backed securities (or asset-backed commercial paper) that FÉRIQUE SHORT-TERM INCOME Fund holds in its portfolio are all sponsored by major Canadian chartered banks and have the highest quality rating—R-1 (high)—according to Dominion Bond Rating Service. To limit the risk related to specific securities, the Fund's investment policy prohibits the portfolio manager from investing over 10% in the same issuer, a regulatory requirement."

Given that less and less treasury bills are available and offer low yields, a money market manager must be able to count on high-quality asset-backed securities to enhance portfolio yield, without which money market funds would provide yields comparable to the guaranteed investment certificates offered by banks," said Ms. Lacoste.

FÉRIQUE SHORT-TERM INCOME Fund ranks in the first quartile of money market funds in Canada over 1 year, 3 years, 5 years and 10 years, as at July 31, 2007. This Fund represents an excellent vehicle for short-term investors with low risk tolerance.

As at August 20, 2007, the Fund, which is managed by CIBC Global Asset Management Inc., has $55.2 million in assets under management.

The July 2007 issue of INFO FÉRIQUE is now on line at the following address: http://www.ferique.com/Public/Section/Publications/Info.aspx?lang=en. We hope that you will enjoy reading it!

Should you have any questions or comments, please feel free to contact us.

Gestion FÉRIQUE

The June 30, 2007 update of FÉRIQUE Funds' returns is now on line in the "FÉRIQUE Funds" section. A table summarizing the performance of all funds is also available on the «Performance» page. 

The comparative data concerning market indices and industry medians is usually available around the 10th business day following month-end. This data will be updated subsequently.

Gestion FÉRIQUE, Manager of the FÉRIQUE Funds, today announced the appointment of MFC Global Investment Management (Canada), a division of Elliott & Page Limited (MFC Global) as one of the investment advisers of the FÉRIQUE BALANCED Fund. The appointment takes effect on or about June 19, 2007.

MFC Global will share the management of the FÉRIQUE BALANCED Fund's Canadian equity portion, which represents about $180 million (as at June 12, 2007), with Foyston, Gordon & Payne. Adding a second Canadian equity investment adviser aims to provide better investment-style diversification for the Canadian equity portion of the Fund.

"We constantly seek to provide our investors with access to high-calibre professional management, as well as quality products that carry a reasonable level of risk. As such, the size of the BALANCED Fund's Canadian equity portion is significant enough to justify a greater risk diversification amongst managers", explained Fabienne Lacoste, Executive Director of Gestion FÉRIQUE. "The appointment of MFC Global meets all the criteria which guided our internal research process – stability in past performance, expertise in connection with relative risk control and complementarity of style with the other Canadian equity manager," added Mrs. Lacoste.

MFC Global will therefore invest 50% of the total Canadian equity portfolio using a strategy that is based on the premise that securities with the best performance potential share common characteristics which can be identified and modeled through several factors related to their sector. The team seeks to select companies with the most interesting combination of factors through a proprietary quantitative and qualitative analysis.

Overall, five investment advisers are involved in the management of the FÉRIQUE BALANCED Fund: Addenda Capital for fixed-income securities, UBS Global Asset Management (Canada) Co. for US and European equities, Nomura Asset Management USA Inc. for Asian equities, as well as Foyston, Gordon & Payne and MFC Global for Canadian equities. With the addition of MFC Global, the FÉRIQUE Funds' external management team now includes ten companies recognized in their respective fields of expertise.

The FÉRIQUE EQUITY Fund was launched in 1980 and represents over $617 million in total assets (as at May 31, 2007).

The first half of these meetings will feature three of our fund managers, who will initially present a brief 2006 annual review. This will be followed by their 2007 outlook for each of their portfolios.

And new this year: our fund managers will debate and present their views on various topics of special interest to our unitholders, including the energy sector, metals & minerals, mergers & acquisitions, emerging markets and the major story of 2007.

During the second half, Gestion FÉRIQUE management will highlight the company's 2006 achievements and review its fund performance, which was, by the way, exceptional.

We hope to see many of you there!

Annual Meeting of Unitholders in Montreal

Invited fund managers: Nomura (Asian equities), Natcan (Canadian equities) and McLean Budden (Global equities).

Thursday, April 26, 2007 at 7:30 p.m.
Omni Hotel – Salon Pierre-de-Coubertin
1050 Sherbrooke Street West, Montreal

(Refreshments to be served)

Information Meeting in Quebec City

Invited fund managers: UBS (American & European equities), Natcan (Canadian equities) and McLean Budden (Global equities).

Tuesday, May 1, 2007 at 6:30 p.m.
Germain-des-Prés Hotel- Room Rochette
1200 Germain-des-Prés Avenue, Quebec City

(A light buffet to be served)

No need to worry. The T3 and R16 tax slips detailing your investment income are currently being sent out during the second week of March. The law requires financial institutions and mutual fund companies to send out these slips to investors by March 31, 2007.

As it pertains to automatic/systematic RRSP contributions made during the first two months of the year, the mailing of these tax slips began on March 12, 2007. 

Should you require any additional information regarding your income tax slips, please contact an advisor at 1 800 291-0337, Monday through Friday, between 8:00a.m. and 8:00p.m.

We know your time is valuable. It's why we are trying to make your life easier—by extending our business hours during RRSP season.

Toll-free line hours (1-800-291-0337)

From Monday, February 26 to Thursday, March 1, 2007, the business hours of the FÉRIQUE Funds advisory service will be extended by one hour each weekday—8:00 a.m. to 9:00 p.m., Monday to Friday—making it easier for you to open an account or contribute to your RRSP before the March 1st deadline.

Furthermore, exclusively during the RRSP season, you can reach our advisors on Saturday, February 24 between 9:00 a.m. and 5:00 p.m.

Our industry is highly regulated, so only duly trained and registered financial advisors are authorized to advise you. Although we have more advisors for the RRSP rush to meet your financial needs, you may experience longer-than-usual waiting times during this peak period. Thank you in advance for your patience and understanding.

Take advantage of quieter periods!

Here are some suggested times that should help you benefit from slower traffic on the toll-free line during the peak period:

• 8:00 a.m. to 9:00 a.m.
• 4:00 p.m. to 6:00 p.m.
• The first two weeks of February are the best time to call us

Visit our Web site and contribute whenever you want!

If you already have an RRSP account with Gestion FÉRIQUE, www.ferique.com offers you a quick and easy way to make your annual contribution—without going through a middleman. And the "My account" section of our transaction web site is quick, secure and available 24 hours a day, seven days a week.

FÉRIQUE Funds turned in an outstanding performance for 2006. Six of the eight Funds generated returns of over 10%. As well, five of the Funds performed in the top quartile of their respective fund universes in Canada [1].

In absolute terms, the three top-performing funds in 2006 were the EUROPEAN, WORLD and EQUITY Funds, with respective returns of 30.5%, 18.4% and 17.6%. In relative terms, the EQUITY and AMERICAN Funds outperformed their respective medians by over 3%, and the ASIAN Fund outperformed its median by over 2%. The BALANCED and WORLD Funds generated good results, ranking in the second quartile and outperforming the median return of their respective universes by about 1.8%. Despite an excellent return of 30.5%, the EUROPEAN Fund is the only one of the eight Funds that did not outperform its comparative median in 2006.

Over the longer term as well, returns have been very convincing compared to other funds in the same classes. On a 3-year basis, five of the eight FÉRIQUE Funds rank in the top quartile, two others are in the second quartile, and the eighth is in the third quartile. All the FÉRIQUE Funds in existence for more than three years outperformed their respective medians on a 5- and 10-year basis. In fact, 96% of the assets invested in FÉRIQUE Funds produced top-quartile returns for the 10 years ended December 31, 2006.

This makes it obvious that even though we are a not-for-profit organization and our management fees are among the lowest in Canada [2], we are able to produce very enviable returns for our investors compared to the competition. 

 [1] Medians for each respective fund category for the 12 months ended December 31, 2006, PALTrak study, Morningstar Research Inc.

[2] Average management fees of 0.63% for FÉRIQUE Funds, compared to 2.31% for the industry, as at December 31, 2006, PALTrak study, Morningstar Research Inc.

For more information, please feel free to contact Gestion FÉRIQUE's management at 1-888-259-7969, ext. 3229, or call one of our advisors at 1-800-291-0337.

More modern, more informative, more dynamic: the Gestion FÉRIQUE Web site is now more indispensable than ever in helping you monitor your portfolio.

Visitors to www.ferique.com are discovering an entirely restructured and redesigned Web site. More than just a new interface and colour palette, the new site offers a wealth of information and functions throughout its different sections.

The heart of the matter

The revamped "Funds" section is the core of this new Web offering. Created as a toolbox with multiple compartments, it allows users to review the management, returns and fees for each FÉRIQUE Fund. Investors looking for a more in-depth treatment can activate several different analysis, display and download functions. A treasure trove of information, this new section will respond to clients who want to study their FÉRIQUE Funds in greater detail.

Better access to advisors

The site also includes the detailed agendas of FÉRIQUE advisors. Presented graphically, this tool will help clients reliably plan and make appointments.

Another important addition: an optional, subscription-based mailing list that will automatically inform users as soon as new FÉRIQUE publications (including reports, newletters and performance summaries) are posted on the Web site.

Finally, the site offers a user-friendly, intuitive navigation experience, with logically organized menus and handy links that let investors quickly find what they're looking for.

Now is the perfect time to rediscover the FÉRIQUE difference – the power of professional management and the privilege of a preferred rate – at the all-new ferique.com.

In order to reduce costs related to mail-outs and protect our environment, Gestion FÉRIQUE sends these documents only to participants who request them. We thank all clients who have opted to view these reports directly on our Web site.

Should you need additional information, please feel free to contact an advisor at 1 800 291-0337.

This amendment, dated September 11, 2006, was made following the August 31 special meetings of unitholders regarding the appointment of auditors, the modification of the FÉRIQUE Funds fee structure, and a modification of the investment objectives of the FÉRIQUE SHORT-TERM INCOME, FÉRIQUE BOND and FÉRIQUE BALANCED Funds.

For more information, please feel free to contact one an advisor at 1 800 291-0337.

As usual, our clients will also receive a hard copy with their quarterly Statement of Account in the next few days.

For more information, please feel free to contact Gestion FÉRIQUE's management at 1-888-259-7969, ext. 3229, or call one of our advisors at 1-800-291-0337.

For more information, please feel free to contact Gestion FÉRIQUE's management at 1-888-259-7969, ext. 3229, or call one of our advisors at 1-800-291-0337.

This document explains the risks of different types of investments, purchase and redemption procedures, fees, tax implications, and investor rights - in addition to providing detailed fund information.

It is recommended to read the prospectus before investing in a Fund. A printed copy will be sent to all unitholders in the next few weeks.

For more information, please feel free to contact one of our dedicated advisors at 1 800 291-0337.

For more information, please feel free to contact Gestion FÉRIQUE's management at 1-888-259-7969, ext. 3229, or call one of our advisors at 1-800-291-0337.

The current auditors of the Funds are KPMG LLP, Chartered Accountants. They were first appointed as auditors of the FÉRIQUE Funds in 1997. Gestion FÉRIQUE has decided not to seek the renewal of the mandate of KPMG LLP as auditors of the FÉRIQUE Funds and to seek their replacement by Ernst & Young LLP, Chartered Accountants.

Gestion FÉRIQUE currently adjusts its management fees to a level allowing it to cover its expenses without making profits. Gestion FÉRIQUE proposes to modify the basis of calculation of the management fees payable by the FÉRIQUE Funds to Gestion FÉRIQUE in order to allow Gestion FÉRIQUE to maintain a reasonable reserve for its operations while maintaining its status as a not-for-profit organization. The amount of the reserve will be limited by the tax rules applicable to Gestion FÉRIQUE as a not-for-profit organization, and by a cap on the management expense ratio (composed of the operating expenses and the management fees payable to Gestion FÉRIQUE) of each FÉRIQUE Fund. Gestion FÉRIQUE also proposes to modify the current allocation of the expenses of the FÉRIQUE Funds between Gestion FÉRIQUE and the FÉRIQUE Funds in order to facilitate the comparison of the fee structure of the FÉRIQUE Funds with the fee structures of other mutual funds.

Moreover, Gestion FÉRIQUE proposes to the unitholders of the FÉRIQUE SHORT-TERM INCOME Fund, FÉRIQUE BOND Fund and FÉRIQUE BALANCED Fund to modify the investment objectives of each of such Funds in order to withdraw from such investment objectives certain specific references to the average maturity and/or quality of the securities in which such Funds invest and to rather disclose such characteristics as investment strategies which may be modified without the approval of the unitholders of the Funds.

Subject to approval of the proposals by the unitholders of the FÉRIQUE Funds and to any applicable regulatory approval, the replacement of KPMG LLP by Ernst & Young LLP as auditors of the FÉRIQUE Funds will come into force on September 1, 2006 and the other proposed modifications will come into force no later than September 30, 2006 or as soon as the simplified prospectus and annual information form of the FÉRIQUE Funds will have been amended to reflect the modifications. For further information, unitholders of the FÉRIQUE Funds may consult the information circular and related documentation available at www.sedar.com and on the Website of the FÉRIQUE Funds at http://www.ferique.com/.

Founded on January 1, 2000, Gestion FÉRIQUE proudly manages the FÉRIQUE Funds, launched in 1974 by the Ordre des ingénieurs du Québec. Created for Québec engineers and their families, FÉRIQUE Funds is a family of eight mutual funds actively diversified across all asset classes. Management of the Funds is entrusted to eight renowned investment firms - each with the mandate to outperform its industry benchmark. Gestion FÉRIQUE, a non-profit corporation, seeks to maximize client assets by offering the unitholders of the Funds high-quality investment solutions and minimizing their expenses. FÉRIQUE Funds have over $1 billion in assets under management and some 20,000 clients.

For more information please refer to the following address: http://www.ferique.com/Public/Section/Publications/Notices.aspx or contact one of our consultants at 1-800-291-0337.

For more information, please feel free to contact Gestion FÉRIQUE's management at 1-888-259-7969, ext. 3229, or call one of our advisors at 1-800-291-0337.

Engineers work in a wide range of disciplines that have an impact on the environment and society. They must understand the issues at stake and subscribe to the principles of sustainable development.

Gestion FÉRIQUE has developed and implemented a "socially responsible" proxy voting policy in investment decisions—based on a combination of social and environmental issues as well as long-term financial performance. To exercise our voting rights in line with this policy, Gestion FÉRIQUE has retained the services of Groupe investissement responsable (GIR).

FÉRIQUE Funds represent the collective strength of over $1 billion—ready to be invested in responsible and efficient companies. This is one more reason to contribute to them! The complete version of our socially responsible proxy voting policy and voting reports are available at http://www.ferique.com/Public/Section/Publications/Voting.aspx.

For more information, please do not hesitate to call an advisor at 1-800-291-0337.

As usual, our clients will also receive a hard copy with their quarterly Statement of Account in the next few days.

Thanks to all our readers who will take a few minutes of their time to give us their comments!

A hard copy will be sent to all clients in the next few days. Please take note, however, that some of the returns presented in the printed version are incorrect (5 years and 10 years columns in the Rates of Return table on page 5). This table has been duly revised in the electronic version available as indicated above.

We apologize for any inconvenience.

This document explains the risks of different investments, purchase and redemption procedures, fees, tax implications, and investor rights, in addition to providing detailed fund information.

The 2005 Simplified Prospectus has been duly approved by regulatory authorities in Québec, and for the first time this year, by the Ontario Securities Commission.

Consequently, all investors residing in the province of Ontario, providing they meet the eligibility criteria, can now make transactions in FÉRIQUE Funds. This change is effective since July 15, 2005.

For more information, please feel free to contact one of our representatives at 1 800 291-0337.

In addition to our semi-annual financial statements, this document presents our managers market commentaries, our rates of return, and other interesting data pertaining to our Funds for the six-month period ending June 30, 2005.

For more information, please feel free to contact one of our representatives at 1 800 291-0337.

As usual, our clients will also receive a hard copy with their quarterly Statement of Account in the next few days.

For more information, please feel free to contact Gestion FÉRIQUE's management at 1-888-259-7969, ext. 3229, or call one of our advisors at 1-800-291-0337.

Here's the list of our upcoming conferences:

Lévis (Chaudière-Appalaches Regional Section): January 18

Québec (Chaudière-Appalaches Regional Section): January 19

Sherbrooke (Cantons de l'Est Regional Section): January 19

Granby (Cantons de l'Est Regional Section): January 20

Trois-Rivières (Mauricie Regional Section): January 25

Drummondville (Drummondville Regional Section): January 26

Saguenay Regional Section: February 1

Lanaudière Regional Section: February 6

Saint-Bruno (Plein-Sud Regional Section): February 7

Outaouais Regional Section: February 9

Longueuil (Plein-Sud Regional Section): February 15

Baie-Comeau (Manicouagan Regional Section): February 16

Sept-Îles (Mingan Regional Section): February 17

For information or reservations, we invite you to contact representatives at the regional sections or associations mentioned.

Hotline hours (1-800-291-0337)

From February 20 to March 1, 2006, the business hours of the FÉRIQUE Funds Hotline will be extended by one hour each day 8:00 a.m. to 9:00 p.m., Monday to Friday making it easier for you to open an account or contribute to your RRSP before the deadline.

And here's another RRSP season exclusive you can reach our advisors on Saturday, February 25 and Sunday, February 26 between 9:00 a.m. and 5:00 p.m.

Take advantage of quieter periods!

Here are some suggested times that should help you benefit from slower traffic on the Hotline during the peak period:

- 8:00 a.m. to 9:00 a.m.

- 4:00 p.m. to 6 p.m.

- The first two weeks of February are the best time to call us

Visit our web site and contribute whenever you want!

If you already have an RRSP account with Gestion FÉRIQUE, www.ferique.com offers you a quick and easy way to make your annual contribution—without going through a middleman, once your FÉRIQUE account is matched with your bank account. And the "My account" section of our transaction web site is quick, secure and available 24 hours a day, seven days a week.

We care about your satisfaction and hope that these extended hours will let you reach our Hotline within a reasonable time. Since RRSP season is the busiest period of the year, however, we count on your understanding if the wait time is a little longer than usual.

We will also hold an information meeting in Quebec City on Wednesday, April 26, 2006, at 6:30 p.m. at Hôtel Clarion (Henri IV / Nelson Room), 3125, Hochelaga Blvd., Sainte-Foy.

During these meetings, we will have the opportunity to cover various corporate changes, to review FÉRIQUE Funds performance in 2005 and to hear four of our managers (Natcan, Foyston, Gordon & Payne, and Addenda Capital) present their outlook on financial markets.

Please confirm your presence with Anne Desjardins, by telephone at (514) 840-9206 or 1 888 259-7969, extension 3230 or by email at anne.desjardins@ferique.com.

We look forward to seeing you there!

UN NOUVEAU GESTIONNAIRE POUR LE FONDS FÉRIQUE EUROPE

Gestion FÉRIQUE vise continuellement à offrir à ses clients des produits et services de qualité supérieure et l'accès aux meilleurs gestionnaires externes. A

u terme d'un processus de recherche rigoureux effectué conjointement par la direction et le comité de surveillance des Fonds FÉRIQUE, la firme UBS Gestion globale d'actifs (Canada) Co. a été nommée gestionnaire du Fonds EUROPE, prenant ainsi la relève de Nordea qui assumait cette fonction depuis la création du Fonds en juin 2003. Ce changement a pris effet le 30 septembre dernier.

UBS est l'un des principaux gestionnaires de placements au monde avec un actif sous gestion totalisant plus de 500 milliards de dollars. La firme se démarque par sa structure intégrée au niveau mondial, ses processus de placement rigoureux, l'étendue de sa recherche, le savoir-faire et la diversité de son personnel et la qualité de son service à la clientèle.

Nous sommes confiants que l'ajout de UBS au nombre de nos gestionnaires externes représentera un atout pour la famille des Fonds FÉRIQUE et ses participants.

LE FONDS FÉRIQUE ACTIONS DEVIENT UN FONDS PUR D'ACTIONS CANADIENNES

L'industrie des fonds d'actions a grandement évolué au cours des dernières années avec l'émergence de fonds de plus en plus spécialisés, que ce soit par style, par secteur, par région, etc.

D'une part, cette spécialisation accrue fait en sorte qu'il est plus difficile de trouver un univers comparatif pour le Fonds FÉRIQUE ACTIONS en raison de sa composition hybride en actions canadiennes et américaines. D'autre part, notre famille de Fonds comporte déjà des fonds spécialisés en actions étrangères afin de permettre une saine diversification des portefeuilles.

Par ailleurs, la décision de répartition d'actif d'un portefeuille composé de fonds spécialisés devrait revenir à chaque investisseur en fonction de son profil de risque. Finalement, étant donné l'abolition de la limite en contenu étranger en 2005, il n'y a plus d'avantage fiscal pour les porteurs de parts à détenir des actions étrangères dans le Fonds ACTIONS.

En conséquence, le conseil d'administration de Gestion FÉRIQUE a approuvé la recommandation du comité de surveillance visant à supprimer la composante en actions américaines du Fonds FÉRIQUE ACTIONS. Le Fonds ACTIONS sera donc dorénavant considéré comme un fonds pur d'actions canadiennes.

Pour de plus amples renseignements, n'hésitez pas à communiquer avec l'un de nos conseillers au 1 800 291-0337.

- Gestion FÉRIQUE and the FÉRIQUE Funds are not related in any way to Norbourg;

- The family of FÉRIQUE Funds has been well established for more than 30 years;

- In 1999, the Ordre des ingénieurs du Québec decided to transfer the management of FÉRIQUE Funds to Gestion FÉRIQUE Inc., which since January 1, 2000 has assumed the responsibilities that were previously carried out by the Ordre's office;

- Gestion FÉRIQUE is a non-profit corporation;

- The corporation is headed by a completely independent Board of Directors, made up of four engineers who are appointed by the Ordre des ingénieurs du Québec and five members who are elected by Gestion FÉRIQUE unit holders, and who are also members of the corporation;

- The Funds performance, investment policies, and managers are monitored by an independent Surveillance Committee, which is made up of nine members, all of whom are unit holders and members of the corporation;

- All members of the Board of Directors and Surveillance Committee are volunteers;

- The corporation's role is to make its clients' assets grow while maintaining a reasonable level of financial risk, and to keep management fees among the lowest in the industry;

- In order to attain its objectives, Gestion FÉRIQUE employs seven independent investment management firms that are renowned for their expertise. As such, members of management, the Board of Directors, and the Surveillance Committee have no direct access to the investment portfolios;

- Custody and customer service are handled by National Bank Trust. A National Bank subsidiary, National Bank Trust is a reputable institution that has specialized in trust activities since 1927, and today has billions of dollars of assets under management;

- An annual audit is carried out by KPMG, a prominent accounting firm, in order to ensure that the financial statements accurately reflect each FÉRIQUE Fund. The 2004 FÉRIQUE Funds annual report is available online, at www.ferique.com;

- Unlike other mutual fund companies, there is no link between the Funds, trustee, managers, auditor, management, and the members of the Board;

- As a result, every portfolio transaction is subject to multiple levels of internal and external controls by various separate parties;

- Mutual funds are not protected by the Canada Deposit Insurance Corporation or the Régie de l'assurance dépôts du Quebec. However, Gestion FÉRIQUE has a corporate and operational structure that allows it to exercise very tight control over all activities related to the management of its Funds, and thereby to protect the interests of its clients.

For further information, or for sound investment advice, please contact one of our customer service representatives, at 1 800 291-0337, Monday to Friday between 8:00 a.m. and 8:00 p.m.

Effective July 18, 2005, you now have until 4:00 p.m., Monday to Friday, to buy, sell or transfer Fund units via telephone or the Web.

What is market timing ? It is frequent trading to take advantage of the market's daily variations. Even though this activity is not illegal per se, mutual fund company normally try to discourage it because it causes frequent transactions in the fund traded by the market timer, with costs which must be absorbed by all the investors in the fund, thus causing them prejudice.

What did Gestion FÉRIQUE do ? Along with the Surveillance Committee and the Board of Directors, it studied the solutions available to us. The chosen solution is the transfer of international equity to the EUROPEAN and ASIAN Funds proportional to the respective weight of these regions in the MSCI EAFE Index. The combined historical returns of the two managers involved are close to those obtained by Putnam, so we are confident of the potential of their combined talents.

FÉRIQUE INTERNATIONAL: We would like to remind you that the INTERNATIONAL Fund is 75% passively managed and 25% actively managed (Putnam). The transfer to the two funds will cause a temporary reduction of active management, as the law prevents a fund from investing more than 10% of its assets in one specific security or fund. This legal restriction will compel us to lower the active management to 15% and increase the passive management to 85%. To remedy this situation, Gestion FÉRIQUE will ask the Québec Securities Commission for an exemption allowing the Fund to invest more than 10 % in both the ASIAN and EUROPEAN Funds. If the exemption is granted, we will return active management to its original weight of 25%.

To conclude, we would like to underline the fact that we do not believe the returns of FÉRIQUE Funds to have suffered as a result of the events that occurred at Putnam.

To obtain additional information, we suggest you to read the additionnal information available at the following address (This site's Financial Letters section) http://www.ferique.com/en/4_0/4_6.asp

We can now confidently affirm that all the basic products necessary for healthy diversification are available from FÉRIQUE at a below-average-cost, of course, for the Canadian mutual funds industry.

Gestion FÉRIQUE is currently preparing its promotional literature for 2004. In this material we'd like to have our firmly committed clients promote the FÉRIQUE Funds to their fellow Quebec engineers.

Here are some examples worth talking about:

You left the FÉRIQUE Funds to invest in other mutual funds or with a broker .

But you came back to us a few years later?

You built a comfortable retirement for yourself and your spouse, thanks to your FÉRIQUE Funds!

You recently joined FÉRIQUE after analyzing all the other possibilities and you are convinced about the Funds' intrinsic benefits.

TELL US! TELL EVERYONE!

Montreal : (514) 840-9206 extension 230

Rest of Quebec: 1-888-259-7969 extension 230

Please contact us before October 24, 2003.

Thank you,

The Management.

Rich Dad, Poor Dad, of Robert T. Kiyosaki and Sharon L. Lechter, C.P.A.

This book outlines the necessity of teaching financial literacy to our children and offers approaches based on the author's personal experience.

The Intelligent Asset Allocator, of William Bernstein (available in English only)

This book presents the basic rules to create a portfolio. It uses the scientific principles that govern portfolio management where return and risk are taken into consideration. Although the author tries to vulgarise, the explanations are often technical and use statistic tools needed to understand the underline processes (volatility, standard deviation, correlation optimisation, etc)

Among other things, the author underlines the uselessness of trying to pick stocks. He suggests rather to work in diversifying the portfolio asset classes and in managing their weights.

The average price of these books is of 33.00 $

The BALANCED Fund's returns have been disappointing for the past 3 years. Several reasons explain this performance. One of these reasons is the principal manager's mediocre performance in 2000 and 2002. We have therefore decided to proceed with in-depth changes. We remind you that we already made changes at the beginning of 2002 by engaging SCEPTRE Investment Counsel Ltd. and its assistant manager Putnam Investment to manage international equities, replacing TAL and Lazard. The other changes formulated throughout 2002 are being implemented today.

The changes have three objectives in mind. First, to improve diversification of our exposure to the managers involved in the Fund. Until the beginning of 2003, TAL managed 82.5% of the assets and the asset allocation. We were therefore vulnerable to the turbulence through which this investment firm was passing. Once the changes are made, we will have four separate investment managers who will take charge of the different aspects of the Fund, which are all almost similar in importance.

The second objective is to engage specialist managers with a history of outperforming their competitors and an extraordinary management philosophy and discipline. Foyston, Gordon & Payne (FG&P) Inc., which will take over management of Canadian equities at the beginning of March, is a Toronto firm that has been in business for 20 years. It has $2.5 billion under management had has obtained outstanding returns over the past 10 years. The managers hold 49% of the firm's shares, which encourages the stability of its management team. Their management process is rigorous and selection of securities is disciplined and meticulous. Addenda Capital Inc., which will take over all of the Fund's bonds (previously they managed only 20% of this asset class) is a manager known to FÉRIQUE investors, because it has been associated with the BALANCED Fund for five years and has managed the BOND Fund since October 2001.

The third objective of the changes is to reduce the Fund's total risk. This reduction will be accomplished in two ways. First, the investment philosophy of Foyston, Gordon & Payne Inc., the new Canadian equity manager, is based on capital preservation. Its value-oriented style will improve the Fund's ability to withstand downward market fluctuations. In addition, greater diversification of our stable of managers will reduce the portfolio's risk.

The Surveillance Committee is studying other avenues to improve the portfolio's risk/return profile. If our analyses lead us to conclude that there are other credible tools for improving the Fund, we will integrate them as quickly as possible.

Regarding the engineer members, we must mention the contribution of experienced colleagues who left the Board of Directors in 2002 and very recently in 2003: Messrs. Jean-François Tessier, Gabriel Soudry, Silvio E. Gallizzi, André A. Loiselle and Marcel Vézina. Mr. Tessier's contribution to the FÉRIQUE Funds' growth over nearly fifteen years has been remarkable and we would like to thank him sincerely. We also wish to welcome the new members of the Board of Directors: Messrs. Michel Riverin, Jean-Guy Tremblay, Raymond Hamelin, Christian Arsenault and Georges Geoffroy.

The regular member, Ms. Paulette Legault, who chaired the Audit Committee, decided not to renew her mandate. We wish to thank her for the work accomplished over the past three years.

Here is the composition of Gestion FÉRIQUE's Board of Directors for the coming year:

- Mr. Michel LaPalme, Eng. Chairman

- Mr. Christian F. Arsenault, Eng.

- Mr. Pierre Desjardins, Eng.

- Mr. Raymond Hamelin, Eng.

 - Mr. Marcel Lafrance, Eng.

- Mr. Michel Riverin, Eng.

 - Mr. Jean-Guy Tremblay, Eng.

- Mr. Georges Geoffroy, Eng.

We will not accept contributions coming from the spouse's bank account or the account of anyone beside the account owner.

Monday, March 29 at 7:30 p.m.

Room Cartier 2

Mount Royal Center

2200 Mansfield Street

Montreal (Quebec) H3A 3R8

We will also hold an information meeting in Quebec City. It will take place:

Monday, April 5, 2004 at 7:00 p.m.

Gouverneur Hotel - Quebec

Room Champlain 3

030 Laurier Blvd

Sainte-Foy (Quebec) G1V 2M5

At these meetings, you will be informed of the state of the FÉRIQUE Funds and can also hear our managers speak on the changes in financial markets.

We expect a large turnout. Please confirm your attendance before March 22, 2004 by calling (514) 840-9206 or 1 888 259-7969 ext. 230 or by email to melanie.tremblay@ferique.com.

The state of the FÉRIQUE Funds

The role of the Surveillance Committee and Gestion FÉRIQUE's personnel is to amplify the competitive advantage represented by our fees, which are radically lower than those charged in the rest of the industry. This is why the Committee selects high-calibre managers and painstakingly tracks their performance and processes to ensure that they generate yields above their reference indices. The Surveillance Committee therefore implemented a new manager evaluation process, allowing quicker detection of a management firm's potential problems.

On the whole, the FÉRIQUE Funds behaved very well in this environment. All the Funds generated positive yields in 2003. They also posted very good performance in relation to their peers.

The efforts of the Management and the Surveillance Committee in 2003 mainly focused on the restructuring of the BALANCED Fund, which had underperformed in relation to expectations. Several changes were proposed by the Surveillance Committee and accepted by the Board of Directors in 2003. These changes had two objectives in mind. The first was to improve performance by engaging specialist managers and the second was to reduce the BALANCED Fund's total risk.

You will remember that the EUROPEAN and ASIAN Funds were launched in 2003. Their arrival had been announced in 2002, but administrative delays prevented us from launching them before this past year. Despite the delay, the investors who took a chance on them have benefited form very interesting yields to date.

Presentation of the financial statements of the FÉRIQUE Funds

The Board of Directors adopted the financial statements of the FÉRIQUE Funds and the Auditors' Report, which was without reservation, at a meeting held in March. They demonstrate the management's commitment to maintain one of the lowest management fee ratios in the industry, at around 0.7%.

Suggestion of candidates for the Surveillance Committee

The by-law governing the Surveillance Committee provides that its members, appointed by the Board of Directors, have a three-year mandate. A rotation system has been introduced and the mandate of two members of the Committee ends next June. Apart from the outgoing members, one person was nominated.

Investors in the Funds suggested that the directors of the Corporation should assess the appropriateness of adopting guidelines on responsible investment for the FÉRIQUE Funds.

Thus, in 2003, Gestion FÉRIQUE stayed the course on its fundamental objectives: transparent management of the Corporation, rigorous monitoring of managers and partners, and effective marketing.

The Board of Directors of Gestion FÉRIQUE is composed of four honorary members appointed by the Ordre des ingénieurs du Québec, four engineer members elected from among the engineer members, and one regular member elected from among the regular members.

Regarding the honorary members, the Ordre des ingénieurs du Québec named M. Claude R. Tremblay for a three-year term. He replaces Mr. Michel LaPalme, whom we wish to thank for his loyal service, especially in the past year when he served as President.

All four engineer members were elected last year. Their mandate will therefore expire in two years.

The regular member, Ms. Molita Sexton, was elected by acclamation for a three-year mandate.

Here is the composition of the Board of Directors of Gestion FÉRIQUE for the coming year:

Mr. Christian F. Arsenault, Eng.

Mr. Pierre Desjardins, Eng.

Mr. Raymond Hamelin, Eng., MBA

Mr. Marcel Lafrance, Eng.

Mr. Michel Riverin, Eng., MBA

Ms. Molita Sexton, B. Sc. MBA, Adm. A.

Mr. Claude R. Tremblay, Eng., MBA

Mr. Jean-Guy Tremblay, Eng., MBA

Mr. Georges Geoffroy, Eng., MBA

(MER / (Five years annualised returns + MER)) X 100 = Cents per dollar of return are paid to the fund company.

Following the study, the Globe and Mail published the top 20 and the bottom 20 funds of the bond, Canadian equity and balanced funds available in Canada. Only the funds having more that 200 millions under management were considered.

Asset category average: FÉRIQUE Funds

Canadian equity funds: 21.78%

FÉRIQUE EQUITY: 6.52%

Balanced funds : 30.45%

FÉRIQUE BALANCED: 16.46%

Bond funds: 22.14%

FÉRIQUE BOND: 8.52%

And of all 615 funds included in this evaluation, FÉRIQUE EQUITY comes first among all. We can all be proud of this result.

Gestion FÉRIQUE

Gare Windsor, Suite 350

1100 de La Gauchetière West

Montréal (Québec) H3B 2S2

Our phone and fax numbers remain unchanged :

Telephone : (514) 840-9206

Toll Free : 1 888 259-7969

Fax : (514) 840-9216

Transaction Line : 1 800 291-0337

We felt that is was important to clarify this situation in order to avoid any misinterpretation regarding the Funds' performance. Should you have any questions, please feel free to contact us.

You can compare all FÉRIQUE Funds with any competitor's fund of the same category in Canada, and visualize on a graph how higher fees can significantly eat away the value of your investments at retirement.

Another way for us to demonstrate that a small difference can make a big difference...

The unitholders of the FÉRIQUE Funds approved the appointment of Ernst & Young LLP, Chartered Accountants, as auditors of the FÉRIQUE Funds.

The unitholders also approved a modification of the basis of calculation of the management fees payable by the FÉRIQUE Funds to Gestion FÉRIQUE, in order to allow Gestion FÉRIQUE to maintain a reasonable reserve for its operations. The amount of the reserve will be limited by the tax rules applicable to Gestion FÉRIQUE as a not-for-profit organization and by a cap on the management expense ratio (composed of the operating expenses and the management fees payable to Gestion FÉRIQUE) of each Fund. The approval also covers a modification of the current allocation of the Funds' expenses between Gestion FÉRIQUE and the FÉRIQUE Funds, in order to facilitate their comparison with other mutual funds.

The unitholders of the FÉRIQUE SHORT-TERM INCOME, FÉRIQUE BOND and FÉRIQUE BALANCED Funds also approved a modification of the investment objectives of their respective Funds in order to withdraw specific references to portfolio composition, and to rather disclose such characteristics as investment strategies which may be modified without the prior approval of the unitholders.

The appointment of Ernst & Young LLP as auditors of the FÉRIQUE Funds comes into force on September 1, 2006. The modification to the current allocation of the Funds' expenses between Gestion FÉRIQUE and the FÉRIQUE Funds will come into force on or around January 1, 2007. The other modifications will come into force on or around September 30, 2006 or as soon as the simplified prospectus and annual information form of the FÉRIQUE Funds will have been amended to reflect the modifications.

For more information, please feel free to contact our client services at 1-800-291-0337, Monday to Friday, from 8 a.m. to 8 p.m.

Securities loans are usually made by brokerage firms to enable them to cover short positions resulting from mismatches between their operational receipts and deliveries. Such firms borrow securities for a period of approximately 24 to 48 hours, transferring to the lender collateral representing at least 102% of the value of the securities, generally in Canadian Treasury Bills.

This activity enables the lender to generate additional revenues to maximize overall portfolio return.

Securities lending has been going for several years and plays and important role in global financial markets by providing liquidity. Globally, this activity represents US$ 2 trillion. Canada, one of the first countries to engage in security lending, is third in the world in terms of business volume.

Most of major Canadian investment fund companies, pension funds, portfolio managers, and brokerage firms, and even the Bank of Canada lend securities. Both security lending activities and the parties involved are highly regulated - specifically, by Regulation 81-102 governing investment funds.

As custodian for FÉRIQUE Funds, National Bank Trust (NBT) will be responsible for choosing borrowers that meet strict criteria, negotiating borrowing rates, making daily valuation of the collateral required to cover each loan, collecting lending fees, and issuing management reports. The revenue generated will be divided into equal shares between NBT and FÉRIQUE Funds.

This will enable us to generate additional revenue, at no risk, that will benefit all unitholders of the Funds concerned by securities lending. This is good news for our participants!

If you have any questions, please do not hesitate to contact Gestion FÉRIQUE's management at 1-888-259-7969 or talk to an advisor at 1-800-291-0337 (service.ferique@bnc.ca).

Montreal, June 29, 2006 -Gestion FÉRIQUE, in its capacity as manager of the FÉRIQUE AMERICAN Fund and the FÉRIQUE INTERNATIONAL Fund, announced today the appointment of UBS Global Asset Management (Canada) Co. (UBS) as investment adviser of the FÉRIQUE AMERICAN Fund and the appointment of McLean Budden Limited as investment adviser of the FÉRIQUE INTERNATIONAL Fund.

These appointments are made following the approval by the unitholders of the FÉRIQUE AMERICAN Fund and of the FÉRIQUE INTERNATIONAL Fund of a modification to the respective investment objectives of such Funds in order to allow them to replace their synthetic indexed investment strategy with an active investment strategy. In connection with such modification, the FÉRIQUE INTERNATIONAL Fund will change its name for FÉRIQUE WORLD Fund. The appointment of the investment advisers, the modifications to the investment objectives and the change of name will take effect on the date of issuance of a receipt for the 2006 simplified prospectus of the FÉRIQUE Funds, which is expected to occur on or about July 7, 2006.

Currently, the FÉRIQUE AMERICAN Fund and the FÉRIQUE INTERNATIONAL Fund resort to futures trading on the market to obtain a return comparable to that of their benchmark index. The Funds mainly invest in money market securities and derivatives. As a result of the repeal of the Canadian tax rules relating to the holding of foreign property and the approval of the modification to the investment objectives by the unitholders, the Funds will now invest directly in securities of foreign companies.

Gestion FÉRIQUE also announces that following the repeal of the Canadian tax rules relating to the holding of foreign property, the FÉRIQUE BALANCED Fund will now participate in the United States stock market by investing a portion of its assets in units of the FÉRIQUE AMERICAN Fund rather than resorting to futures trading to obtain a return comparable to that of the S&P 500. This modification will also take effect on the date of issuance of a receipt for the 2006 simplified prospectus of the FÉRIQUE Funds.

UBS is one of the largest global asset managers, with over $500 billion of assets under management. UBS's strengths lie in its globally integrated organization and processes, the expertise and diversity of its staff, as well as in the quality of client service and mandate execution.

McLean Budden is one of Canada's oldest investment counseling firms. Founded in 1947, McLean Budden stresses the importance of hiring highly qualified investment professionals and applying a disciplined investment process. From its offices in Toronto, Montreal, Vancouver and Chicago, the firm manages $41.4 billion of assets for Canadian investors as of March 31, 2006. The investment professionals at McLean Budden, along with Sun Life, are co-owners of the firm.

Founded on January 1, 2000, Gestion FÉRIQUE proudly manages the FÉRIQUE Funds, launched in 1974 by the Ordre des ingénieurs du Québec. Created for Québec engineers and their families, FÉRIQUE Funds is a family of eight mutual funds actively diversified across all asset classes. Management of the Funds is entrusted to eight renowned investment firms - each with the mandate to outperform its industry benchmark. Gestion FÉRIQUE, a non-profit corporation, seeks to maximize client assets by offering the unitholders of the Funds high-quality investment solutions and minimizing their expenses. FÉRIQUE Funds have over $1 billion in assets under management and some 20,000 clients.

Pour de plus amples renseignements, n'hésitez pas à communiquer avec l'un de nos conseillers au 1 800 291-0337.

For more information

Gestion FÉRIQUE's management would like to wish all their clients a great Holiday Season and a happy New Year!