Greystone Managed Investments Inc. -- s. 213(3)(b) of the LTCA

Headnote

Clause 213(3)(b) of the Loan and Trust Corporations Act -- application by manager, with no prior track record acting as trustee, for approval to act as trustee of pooled funds and future pooled funds to be established and managed by the applicant and offered pursuant to a prospectus exemption.

Statutes Cited

Loan and Trust Corporations Act, R.S.O. 1990, c. L.25, as am., s. 213(3)(b).

March 28, 2014

Attention: Carol E. Derk/K. Ruth Liu

Dear Sirs/Mesdames:

Re: Greystone Managed Investments Inc. (the "Applicant")

Application pursuant to clause 213(3)(b) of the Loan and Trust Corporations Act (Ontario) for approval to act as trustee

Application No. 2013/0115

Further to your application dated February 22, 2013 (the "Application") filed on behalf of the Applicant, and based on the facts set out in the Application and the representation by the Applicant that the assets of the Funds, as defined and listed on Schedule "A", and any other future mutual fund trusts that the Applicant may establish and manage from time to time, will be held in the custody of a trust company incorporated and licensed or registered under the laws of Canada or a jurisdiction, or a bank listed in Schedule I, II or III of the Bank Act (Canada), or a qualified affiliate of such bank or trust company, the Ontario Securities Commission (the "Commission") makes the following order:

Pursuant to the authority conferred on the Commission in clause 213(3)(b) of the Loan and Trust Corporations Act (Ontario), the Commission approves the proposal that the Applicant act as trustee of the Funds and any other future mutual fund trusts which may be established and managed by the Applicant from time to time, the securities of which will be offered pursuant to prospectus exemptions.

Yours truly,

Schedule "A"

Greystone Global Equity Fund

Greystone EAFE Plus Fund

Greystone U.S. Strategic Growth Equity Fund

Greystone U.S. Strategic Value Equity Fund

Greystone EAFE Growth Fund

Greystone EAFE Quantitative Fund

Greystone U.S. Income and Growth Fund

Greystone North American Equity Growth Fund

Greystone U.S. & Global Fixed Income Fund

Greystone Canadian Equity Small Cap Fund

Greystone Long Bond Fund

Greystone Mortgage Fund

Greystone High Yield Fund

Greystone International Income & Growth Fund

Greystone International Equity Fund

Greystone Real Return Bond Fund

Greystone Three Year Target Duration Fund

Greystone Eight Year Target Duration Fund

Greystone Fifteen Year Target Duration Fund

Greystone Twenty Plus Year Target Duration Fund

Greystone Global Income & Growth Fund

Greystone Corporate Bond Fund

Greystone Money Market Fund

Greystone Canadian Fixed Income Fund

Greystone Canadian Equity Fund

Greystone Canadian Equity Income & Growth Fund

Greystone U.S. Equity Fund

Greystone Balanced Fund

Greystone Non-North American Equity Fund

Greystone Emerging Markets Equity Fund

Greystone Socially Responsible Fixed Income Fund

Greystone Canadian Equity 130/30 Fund

(collectively, the "Funds" and individually, a "Fund")