Commercial Credit Report for Income Financial Trust (Canada)

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Income Financial Trust
77 King Street West
Suite 4500
Phone: (416) 304-4443	Toronto, ON M5K 1K7 Canada	Ticker: INC.UN

Business Summary

Income Financial Trust (the Trust) is an investment trust. The Trust�s goal is to provide monthly distributions at an annual rate of 8.5% (based each month�s preceding month end net asset value of Income Financial) while returning the original issue price of units to Unitholders upon the termination on January 1, 2014. The portfolio is actively managed and is invested in North American financial services companies. The manager of Income Financial is Quadravest Inc. (the Manager) and the investment manager is Quadravest Capital Management Inc. (Quadravest).

(Source: ARS)

Financial Information

Financial Ratings:	FRISK Score
Latest Financial Statements and Analyses:	6/30/2009 Annual Financials Quarterly Financials
Current Fiscal Period:	2Q 2009
Fiscal Year End:	December
Last Audit:	12/31/2008
Auditors:	PricewaterhouseCoopers LLP
Audit Opinion:	Unqualified

Stock Performance

Industries

Type

Code

Description

Sector

FINANC

Financial

Industry

FSMISC

Misc. Financial Services

SIC

6722

Management Investment Offices, Open-End

6726

Unit Investment Trusts, Face-Amount Certificate Offices

NAICS

52591

Open-End Investment Funds

52599

Other Financial Vehicles

Management

Title

Name

Age

Title Date

Start Date

Chairman of the Board, President, CEO, Chief Inv. Officer, Secretary, Director of Quadravest Inc.

S. Wayne Finch

Chief Financial Officer, Managing Director of Quadravest Inc.

Peter F. Cruickshank

Managing Director, Portfolio Manager of Quadravest Inc.

Laura L. Johnson

General Information

Number of Employees:	0	(As of 12/31/2005)
Outstanding Shares:	4,769,368	(As of 6/30/2009)
Shareholders:	1,370
Stock Exchange:	TSE
Fax Number:	(416) 304-4441