Optima Strategy Pools - ss. 62(5)

Order
IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, c. S. 5, AS AMENDED (the Act)

AND

IN THE MATTER OF
OPTIMA STRATEGY CASH MANAGEMENT POOL
OPTIMA STRATEGY SHORT TERM INCOME POOL
OPTIMA STRATEGY CANADIAN FIXED INCOME POOL
OPTIMA STRATEGY GLOBAL FIXED INCOME POOL
OPTIMA STRATEGY RSP GLOBAL FIXED INCOME POOL
OPTIMA STRATEGY CANADIAN EQUITY VALUE POOL
OPTIMA STRATEGY US EQUITY VALUE POOL
OPTIMA STRATEGY RSP US EQUITY DIVERSIFIED POOL
OPTIMA STRATEGY INTERNATIONAL EQUITY DIVERSIFIED POOL
OPTIMA STRATEGY RSP INTERNATIONAL EQUITY DIVERSIFIED POOL
OPTIMA STRATEGY REAL ESTATE INVESTMENT POOL
(individually, a "Pool" and collectively, the "Pools")

ORDER
(Subsection 62(5))

UPON an application (the Application) from Assante Asset Management Ltd. (AAM) and the Pools (collectively, the Filer) for an order pursuant to subsection 62(5) of the Act that the time limit referred to under subsection 62(2)(c) of the Act be extended to December 5, 2000;

AND UPON the Filer having represented that:

1.AAM is a corporation incorporated under the laws of Manitoba. AAM is the manager and promoter of each of the Pools. The head office of AAM is located in Manitoba.

2.The Pools are open-ended mutual fund trusts existing under the laws of Manitoba.

3.Each of the Pools is a reporting issuer (or equivalent) under the Act and is not in default of any requirements under the Act or the regulations thereto.

4.Units of the Pools are presently offered for sale on a continuous basis in each province and territory in Canada pursuant to a simplified prospectus dated July 14, 1999 (the Subject Prospectus) for which a receipt was issued in Manitoba on July 19, 1999.

5.Units of the Optima Strategy Canadian Equity Small Cap Pool (the Small Cap Pool) are offered pursuant to a simplified prospectus (the Small Cap Prospectus) dated January 10, 2000 for which a receipt was issued in Manitoba on January 17, 2000.

6.Units of the Optima Strategy Canadian Equity Growth Pool, Optima Strategy Canadian Equity Diversified Pool, Optima Strategy US Equity Growth Pool, Optima Strategy US Equity Diversified Pool, Optima Strategy International Equity Growth Pool and Optima Strategy International Equity Value Pool (the Partner Pools) are offered pursuant to a prospectus (the Partner Prospectus) dated April 27, 2000 for which a receipt was issued in Manitoba on April 28, 2000.

7.Pursuant to a Mutual Reliance Review System Decision Document dated July 4, 2000, the lapse date for distribution of units of the Pools under the Subject Prospectus was extended to October 31, 2000.

8.The requested extension to the time limit for the issuance of a receipt is necessary to allow sufficient time for AAM to assemble further information, consider existing precedents and prepare disclosure so as to comply with the plain language and other requirements contained in National Instrument 81-101 in connection with the pro forma and renewal simplified prospectuses and annual information forms (the "Renewal Prospectus") filed with the securities regulatory authorities in each province and territory in Canada within the applicable time limits.

9.Units of the Pools, the Small Cap Pool and the Partner Pools will be offered pursuant to the Renewal Prospectus.

10.Since the respective dates of the Subject Prospectus, the Small Cap Prospectus and the Partner Prospectus (collectively the Prospectuses), no material changes have occurred and no amendments to any of the Prospectuses have been made.

AND UPON the undersigned being satisfied that to do so would not be prejudicial to the public interest;

IT IS ORDERED pursuant to subsection 62(5) of the Act that the time limit referred to under subsection 62(2)(c) of the Act relating to a receipt for the Renewal Prospectus is hereby extended to December 5, 2000, provided that:

(a)all unitholders of record of the Pools who purchased units of a Pool after November 20, 2000 and before the date of this decision (the Affected Unitholders) are provided with the right (the Cancellation Right) to cancel such trades within 20 business days of receipt of a statement (the Statement) describing the Cancellation Right and to receive, upon the exercise of the Cancellation Right, the purchase price paid on the acquisition of such units and all fees and expenses incurred in effecting such purchase (the net asset value per unit on the date of such a purchase by an Affected Unitholder is hereinafter defined as the Purchase Price per Unit);

(b)the Pools mail the Statement and a copy of this decision to Affected Unitholders no later than December 5, 2000; and

(c)if the net asset value per unit of the relevant Pool on the date that an Affected Unitholder exercises the Cancellation Right is less than the Purchase Price per Unit, AAM shall reimburse the Pool the difference between the Purchase Price per Unit and the net asset value per unit on the date on which such Affected Unitholder exercises the Cancellation Right.

November 23, 2000.

Paul A. Dempsey
Assistant Manager/Senior Legal Counsel
Investment Funds, Capital Markets