Sentry Select Capital Inc.

Sentry Select Capital Inc.

February 07, 2011 18:21 ET

Sentry Select Capital Inc. announces completion of mutual fund mergers

TORONTO, ONTARIO--(Marketwire - Feb. 7, 2011) - Sentry Select Capital Inc. ("Sentry") is pleased to announce that the mergers of the Terminating Funds with the Continuing Funds (collectively, the "Mergers") listed below, became effective on February 4, 2011.

Terminating Funds Continuing Funds
Sentry Select Commodities Income Trust Sentry Energy Growth and Income Fund
Oil Sands and Energy Mega-Projects Trust Sentry Energy Growth and Income Fund
Premier Value Income Trust Sentry Canadian Income Fund

The Mergers were approved at special meetings of investors of the Terminating Funds held concurrently on January 10, 2011.

The Terminating Funds transferred all of their assets to the Continuing Funds in exchange for Series A securities of the Continuing Funds and the assumption by the Continuing Funds of all the liabilities of the Terminating Funds. Each security holder of a Terminating Fund received Series A securities of the applicable Continuing Fund having the same aggregate net asset value as their respective securities of the Terminating Fund as of the close of business on February 4, 2011, as listed below.

Each unitholder of Sentry Select Commodities Income Trust received 1.231 Series A units of Sentry Energy Growth and Income Fund in exchange for each Series A unit of the Terminating Fund. Each unitholder of Oil Sands and Energy Mega-Projects Trust received 0.988 Series A units of Sentry Energy Growth and Income Fund in exchange for each Series A unit of the Terminating Fund. The net asset value of Sentry Energy Growth and Income Fund as of February 4, 2011 was $9.238.

Each unitholder of Premier Value Income Trust received 0.567 Series A units of Sentry Canadian Income Fund in exchange for each Series A unit of the Terminating Fund. The net asset value of Sentry Canadian Income Fund as of February 4, 2011 was $16.001.

Costs of the Mergers

All costs and expenses associated with the Mergers will be borne by Sentry.

Investment objectives of Continuing Funds

Sentry Energy Growth and Income Fund is an open-end mutual fund with approximately $132.6 million in assets as at February 4, 2011 prior to the Mergers. The Fund's investment objective is to provide regular income and long-term capital appreciation by investing primarily in a diversified portfolio of equity securities of Canadian companies involved in the energy sector.

Sentry Canadian Income Fund is an open-end mutual fund with approximately $1.2 billion in assets as at February 4, 2011 prior to the Mergers. The Fund was recently awarded a 2010 Canadian Lipper Award for the best risk-adjusted performance over five years in the Canadian income trust equity category. The Fund was also awarded the 2005 Canadian Income Trust Fund of the Year Award, and was a finalist for the award in 2006, 2007 and 2008. The investment objective of the Fund is to provide a consistent monthly income and capital appreciation by investing primarily in a diversified portfolio of Canadian securities including equities, fixed-income instruments, real estate investment trusts and income trusts.

Sentry Investments

Sentry Investments is a Canadian asset management company that offers a diverse range of investment products including mutual funds, hedge funds, flow-through limited partnerships and other alternative investments, covering a variety of domestic and global mandates.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to Sentry. The forward-looking statements are not historical facts but reflect 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 Terminating Funds and the Continuing Funds, please visit www.sedar.com.

Sentry Select Capital Inc.
The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615

Contact Information

  • Sentry Select Capital Inc.
    Investor Services
    (broker/investor inquiries)
    1-888-730-4623
    416-364-1197 (FAX)
    info@sentry.ca
    www.sentry.ca