Lakeview KBSH Diversified Income Explorer Fund et al.

Decision

Headnote

Relief to file a prospectus more than 90 days after the date of the receipt for the preliminary prospectus.

Rules Cited

OSC Rule 41-501 - General Prospectus Requirements, s. 14.1(2)

March 26, 2007

Cassels Brock&Blackwell LLP
2100 Scotia Plaza, 40 King Street West
Toronto,Ontario, Canada M5H 3C2

Attention: Peter Dunne

Dear Sirs/Mesdames:

Re:
Application filed by Lakeview KBSH Diversified Income Explorer Fund, Lakeview KBSH Global Value Explorer Fund, Lakeview Asset Management Inc. dated March 8, 2007 under Rule 41-501, SEDAR Proj. No. 1030449 Our File No. 2007/0189

You filed a letter dated March 8, 2007 under Part 15 of OSC Rule 41-501 on behalf of the Lakeview KBSH Diversified Income Explorer Fund requesting an exemption from the prohibition contained in paragraph 14.1(2) against an issuer filing a prospectus more than 90 days after the date of the receipt for the preliminary prospectus.

The Director acknowledges under subparagraph 15.2(2)(a)(ii), based upon the representations contained in the Letter, that the exemption is granted and that the final receipt for the prospectus will evidence the exemption.

Yours truly,

"Leslie Byberg"
Manager, Investment Funds