June 08, 2007 12:45 ET

Sceptre Income & Growth Trust (SZG.UN) Unitholders Approve Resolutions at Special Meeting and the Sceptre Income & High Growth Trust (SZH.UN) Unitholders Adjourn Special Meeting

TORONTO, ONTARIO--(Marketwire - June 8, 2007) - The special meeting of Unitholders of the Sceptre Income & High Growth Trust (the "SIHGT Trust") (TSX:SZH.UN) called for June 8, 2007, was adjourned because a quorum was not present at the meeting. The meeting was adjourned to Friday June, 22, 2007, 9:00 a.m. (Toronto time). The special meeting will be held at the offices of McCarthy Tetrault LLP, 47th Floor, Toronto Dominion Bank Tower, Toronto, Ontario, M5K 1E6

The Board of Trustees for the Sceptre Income & Growth Trust (the "SIGT Trust") (TSX:SZG.UN) is pleased to announce that at the special meetings held on June 8, 2007, the Unitholders of the SIGT Trust approved all the resolutions.

The meeting was called to consider and approve: The proposed changes, which include: expanding the funds' investment strategy to include additional asset classes and a wider range of allowable investments within those asset classes; calculating and disclosing the funds' net asset value daily instead of weekly; reducing management fees to 1.05% from 1.10%; merging the funds and converting them to an open-ended mutual fund; delisting the funds' units from the Toronto Stock Exchange to reduce costs; appointing Return on Innovation Management Ltd. ("ROI") as trustee and manager; and introducing seven new series of the merged fund, which will offer different distribution, purchase options and management fees.

The Trustees believed that it is in the best interests of the Unitholders of the Funds to approve the proposed changes, since it better positions the Trusts to achieve their respective investment objectives and create more value for Unitholders.

About Sceptre Investment Counsel

Sceptre Investment Counsel Limited is a leading Canadian independent investment management firm with assets under supervision of approximately $9 billion. The Company's Pension and Institutional Fund group manages investment portfolios for a wide range of clients, including corporations, governments, hospitals, charitable foundations, endowments, universities and unions. Through its Wealth Management group, Sceptre provides discretionary funds and segregated account management for high net-worth individuals and offers a family of seven mutual funds. Sceptre employs approximately 60 people in its offices in Toronto, Waterloo, Montreal and Vancouver. Sceptre's common shares trade on the Toronto Stock Exchange, under the symbol SZ.

About ROI Capital Ltd.

ROI Capital Ltd. manages the ROI Fund, ROI Sceptre Canadian Pension Fund, ROI Global Pension Fund, and ROI High Yield Private Placement Fund. The ROI Fund is the fastest growing and one of the top performing tax credit funds in Canada. ROI Capital's mutual funds invest like pension funds. The Funds invest in multiple asset classes, including private placements loans that are uncorrelated to the public markets. The Funds have partnered with three leading pension plan managers including Sceptre Investment Counsel. This combination of private and public investments has previously only been available in pension plans. ROI Capital is the first to bring this strong investment combination to the retail market.

Contact Information

  • Sceptre Investment Counsel Limited
    Richard L. Knowles
    President and Chief Executive Officer
    (416) 866-2380
    ROI Capital Limited
    Wilfred Vos
    Senior Vice-President
    (416) 361-6162 ext 118