Proxy Voting

Proxy Voting Policies and Procedures

Titan Funds Incorporated (Titan Funds), the manager of the Titan Managed Portfolios (the Portfolio(s)), manages the proxy voting on behalf of the Portfolios in accordance with guidelines established in its proxy voting policy. Titan Funds has adopted this policy to ensure that all votes in respect of securities held by the Portfolios are exercised in accordance with the best interests of the Portfolios. The following description is a summary of such policy.

Titan Funds will, in its discretion, decide to vote or not vote the securities of the underlying funds held by the Portfolios provided, however, that Titan Funds will not vote the securities of an underlying fund or may seek your approval to vote units of an underlying fund, when a vote presents a conflict of interest between the interests of investors and those of Titan Funds. In the event that Titan Funds decides to vote the securities of an underlying fund, it will do so in the best interests of the Portfolios. In the event that Titan Funds decides to not vote the securities of an underlying fund, Titan Funds may, in its discretion, flow through to investors the voting rights attached to securities of the underlying fund.

Any other securities held by the Portfolios will likely not have voting rights attached to them. Prior to the Portfolios' investing directly in equity securities, Titan Funds will revise its proxy voting policy to include guidelines to help determine when to support or oppose a proposal by an issuer of equity securities or a securityholder of the issuer.

Investors in the Portfolios have no rights of ownership in securities of the underlying funds. Titan may, at its discretion, deliver notices, proxy material and other continuous disclosure information about the underlying fund(s) and flow through to investors the voting rights attached to the securities of the underlying fund(s) owned by the Portfolio(s).

Proxy Voting Record

As manager, Titan Funds will compile and maintain annual proxy voting records for the Portfolios for the annual periods beginning July 1 in a year and ending June 30 of the following year. After completion of an annual period, the proxy voting record will be made available on the Titan Funds website, www.titanfunds.ca, by August 31. Titan Funds will deliver a copy of the Portfolios' proxy voting policies and guidelines and/or proxy voting record free of charge to investors of the Portfolios upon request at 1.877.51.TITAN (84826) or info@titanfunds.ca.

Titan Managed Portfolios Proxy Voting Record - June 30, 2009 Titan Managed Portfolios Proxy Voting Record - June 30, 2008

* Effective December 31, 2008 the investment objective and name of the Titan Conservative Portfolio changed such that it became the Titan Money Market Fund.