QE Funds Corp.

QE Funds Corp. (the "Mutual Fund") is a mutual fund corporation which offers Series A shares of Qwest Energy Canadian Resource Class, a class of special shares of the Corporation. The fundamental investment objective of the Mutual Fund is to provide long-term capital appreciation by investing primarily in equity securities of Canadian companies involved in the energy and natural resources sector.

The Mutual Fund has and may in the future acquire assets of limited partnerships on a tax-deferred basis, in which limited partnerships may have an adjusted cost base that is less than the amount paid for these assets.

Shares of the Mutual Fund are only available to the rollover of past and future Qwest flow-through limited partnerships and their limited partners who roll over into the Mutual Fund. Therefore, shares of the Mutual Fund are not available to any other investors.

INVESTOR INFORMATION

Investment Strategies

The Mutual Fund will invest primarily in the energy and resource sector, which involves companies engaged in industries such as oil and gas, mining and minerals, forestry, alternative energy and other resources. In addition, the Mutual Fund may also invest in securities of companies which are dependent on, or provide services to, the energy and resource industries, such as various oilfield services, pipelines, midstream services, utilities and equipment manufacturers, as well as in income trusts which are dependent on, or provide services to, such energy and resource industries, or are involved in the direct production of oil and gas energy related products themselves.

Portfolio Management Team

The Mutual Fund has retained Qwest Investment Fund Management Ltd. to provide investment advisory and fund management services to the Mutual Fund. More

Redemptions

Mutual Fund shareholders may redeem shares of the Mutual Fund on any valuation day. To do so, Mutual Fund shareholders must complete a written redemption request. If the redemption request is deposited with a dealer, the dealer must send the redemption request to the Mutual Fund's registrar and transfer agent on the same day. If the dealer receives the redemption request after 4:00 p.m. (Eastern Standard Time) or on a day that is not a valuation day, the dealer must send it to the Mutual Fund's registrar and transfer agent on the next valuation day (see "Investor Information - Simplified Prospectus" at the top right of this webpage for complete details).

Portfolio Performance - November 19, 2008

Initial Share Price	Net Asset Value Per Share

$10.00	$4.90

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