Toronto/Calgary - Strategic Energy Management Corp. is pleased to announce that Strategic Energy Fund (the gFundh) will be increasing its monthly distribution to Unitholders from $0.06 per unit to $0.07 per unit. The increased distribution will be payable on March 31, 2005 to unitholders of record as at March 16, 2005.Based on the closing price of $12.15 per unit on the Toronto Stock Exchange as at February 18, 2005, the increased distribution would represent an annualized yield of 6.91%.The Fund'sNet Asset Value as at February 16, 2005 was $14.27 per unit.
Distribution increase Based on the closing price of $11.24 per unit on the Toronto Stock Exchange as at January 7, 2005, the distribution would represent an annualized yield of 6.41%. (i) an increased exposure to energy-related royalty and income trusts; and (ii) several companies in the portfolio which have converted to the trust structure. Future distributions - The Manager expects to pay these monthly distributions through the year 2005. However, if the make-up of the portfolio changes or if such portfolio holdings make distributions other than in accordance with their indicated guidance, distributions may differ.
Strategic Energy Fund - Strategic Energy Fund is an investment trust that seeks to provide Unitholders with superior rates of return through a diversification strategy focused on investment opportunities within the Canadian energy sector. The Fund invests in established companies as well as early stage energy companies and to a lesser extent special energy issuers, each with prospects for high growth in the near to medium term and the potential for long term capital appreciation. The Fundfs investments in established companies, including energy royalty and income trusts are made with a view of generating sufficient income to permit the Fund to make monthly cash distributions to Unitholders. These distributions are currently anticipated to be approximately $0.84 per unit annually. Investments in early stage energy companies are focused on both private and public issuers with strong, experienced management teams, which have proven track records of enhancing shareholder value and successfully executing exit strategies. As well, the Fund may invest in undervalued issuers where Sentry Select Capital Corp., investment adviser to the Fund, believes that capital appreciation can be realized.
Sentry Select Capital Corp. - The Investment Adviser is Sentry Select Capital Corp. Sentry Select is a wealth management company with total assets under management of approximately $4.0 billion, including more than $1.2 billion in energy-sector-related investments.
Forward looking statements - This news release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the future performance of the Fund, including the potential for future distributions. When used in this news release, the words "in the future" and "believe" and the use of the future tense generally identify forward-looking statements. These statements reflect Sentry Select's current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, Sentry Select cannot assure that the forward-looking statements contained in this news release will be realized.
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