TORONTO, ON--(Marketwired - January 09, 2017) - Sentry Investments Inc. ("Sentry") is pleased to announce that Sentry Corporate Class Ltd. (the "Corporation") acquired all of the assets of NCE Diversified Flow-Through (15) Limited Partnership (the "Partnership") on January 6, 2017. The total value of the assets at the time of the acquisition was $50,578,471.
Mutual fund share value equivalent of the Partnership
In exchange for the Partnership's assets, the Partnership received an aggregate of 2,206,730.3039 Series A shares (the "Shares") of Sentry Canadian Resource Class (the "Fund") issued under the initial sales charge option at a net asset value of $22.92 per Share in the capital of the Corporation. As a result, each Partnership unit is worth the equivalent of 1.1040 a Share.
Value of the Partnership units
As at the close of business on January 6, 2017, the value of the Partnership units was $25.30 per unit.
Distribution of mutual fund shares
Following the transfer of the Partnership's assets in exchange for the Shares of the Fund on January 6, 2017, the Partnership distributed all of the Shares to its limited partners in proportion to their respective interest in the Partnership. The former limited partners of the Partnership now hold Shares of the Fund and are therefore shareholders of the Corporation. The Shares are redeemable on a daily basis at the net asset value per Share and can be converted into shares of other corporate class funds of the Corporation, as described below under "Sentry Corporate Class Ltd."
Notice to limited partners
A notice in connection with the proposed sale of the Partnership's assets to the Corporation in exchange for the Shares and the subsequent dissolution of the Partnership was mailed to the limited partners of the Partnership in October 2016.
Sentry Canadian Resource Class
Sentry Canadian Resource Class is a class of mutual fund shares of the Corporation. To achieve its objective of long-term growth through capital appreciation, the Fund invests primarily in equities of medium and large capitalization Canadian companies engaged in energy and natural resource industries such as oil and gas, mining and minerals, forestry and other resources, as well as sectors that are dependent on these industries such as pipelines, utilities and equipment manufacturers. As at the close of business on January 6, 2017 the net asset value of the Fund, immediately prior to the acquisition of the Partnership's assets, was approximately $71,938,311.
Sentry Corporate Class Ltd.
In addition to the Fund, the Corporation offers mutual fund shares of Sentry Canadian Income Class, Sentry Diversified Equity Class, Sentry Global Growth and Income Class, Sentry Small/Mid Cap Income Class, Sentry U.S. Growth and Income Class, Sentry U.S. Growth and Income Currency Neutral Class, Sentry Global REIT Class (formerly, Sentry REIT Class), Sentry Precious Metals Class (formerly, Sentry Precious Metals Growth Class), Sentry Conservative Balanced Income Class, Sentry Corporate Bond Class (formerly, Sentry Enhanced Corporate Bond Class), Sentry Global High Yield Bond Class (formerly, Sentry Tactical Bond Class), Sentry Money Market Class, Sentry Growth Portfolio, Sentry Growth and Income Portfolio, Sentry Balanced Income Portfolio (formerly, Sentry Income Portfolio), Sentry Conservative Income Portfolio, Sentry Canadian Equity Income Private Pool Class, Sentry Global Equity Income Private Pool Class, Sentry International Equity Income Private Pool Class, Sentry U.S. Equity Income Private Pool Class, Sentry U.S. Equity Income Currency Neutral Private Pool Class, Sentry Balanced Yield Private Pool Class, Sentry Global Balanced Yield Private Pool Class, Sentry Global Investment Grade Private Pool Class, Sentry Real Growth Pool Class, Sentry Real Long Term Income Pool Class, Sentry Real Mid Term Income Pool Class, Sentry Real Short Term Income Pool Class, Sentry Real Income 1941-45 Class, Sentry Real Income 1946-50 Class, Sentry Real Income 1951-55 Class (each a "corporate class fund").
Sentry Investments Inc.
Sentry Investments is one of Canada's leading independent investment managers, with more than $18 billion in assets under management. Since opening our doors in 1997, we have earned and kept the trust of more than half a million Canadian investors. Sentry offers a diverse range of investment products through financial advisors and investment dealers, as well as portfolio management services to a variety of institutional clients. Our disciplined investment style focuses on delivering superior risk-adjusted returns to help investors calmly create wealth.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "anticipate," "will" and similar expressions to the extent they relate to the Partnership, the Corporation or the Fund. The forward-looking statements are not historical facts but reflect the Corporation's and Sentry's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Sentry believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Sentry undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law. For a complete disclosure record of the Partnership, the Corporation and the Fund, please visit their respective profiles on www.sedar.com.