Independant Review Committee

The Independent Review Committee of the FÉRIQUE Funds (the “IRC”) was established on May 1, 2007, in accordance with the rules adopted by the Canadian Securities Administrators in National Instrument 81-107. The role of the IRC is to approve or to make recommendations concerning conflicts of interest designated as such by Gestion FÉRIQUE in its capacity as manager of the FÉRIQUE Funds. The Report of the Independent Review Committee presents the work that the Committee members took part in during the fiscal year.

REPORT OF THE INDEPENDENT REVIEW COMMITTEE