Toronto: Sentry Select Capital Inc. (the “Manager” or “Sentry Select”), the manager of Sentry Select Diversified Income Fund (the “Fund”), announces that during the first quarter of 2009, the Manager purchased 31,200 units through the Fund’s mandatory market purchase program (the “Program”). In an effort to conserve capital, the Manager paid down the Fund’s outstanding balance under its credit facility rather than purchase the maximum number of units under the Program. The repayment of the Fund’s credit facility was considered to be in the best interest of the Fund’s unitholders, as the Manager considered doing so would have a more significant impact on long-term unitholder value than would have been realized by purchasing units through the Program in declining market conditions.
The Manager has now fully repaid the Fund’s credit facility and as of April 1, 2009 has resumed regular purchases under the Program.
Sentry Select Diversified Income Fund: Sentry Select Diversified Income Fund is a closed-end investment trust that aims to maximize distributions to unitholders by investing primarily in high-income securities issued by a broad range of royalty and income trusts, real estate investment trusts, and limited partnerships and, to a lesser extent, fixed-income securities and high-yielding common stocks.
Sentry Select Capital Inc.: Sentry Select Capital Inc. is a Canadian wealth management company that offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates.
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