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Sentry Select Capital Inc. announces completion of mutual fund mergers
2010-06-07

TORONTO: Sentry Select Capital Inc. (“Sentry Select” or the “Manager”) is pleased to announce that the mergers of the Terminating Funds with the Continuing Funds (collectively, the “Mergers”) listed below, became effective on June 4, 2010.

Terminating Funds

Continuing Funds

Sentry Select Balanced Class*

Sentry Canadian Income Class*

Sentry Select Balanced Fund

Sentry Canadian Income Fund

Sentry Select Canadian Energy Growth Class*

Sentry Canadian Income Class*

Sentry Select Canadian Energy Growth Fund

Sentry Energy Growth and Income Fund (formerly Sentry Energy  Income Fund)

Sentry Select Dividend Growers Fund

Sentry Canadian Income Fund

* each class of shares of Sentry Select Corporate Class Ltd.

 

The Mergers were approved at special meetings of investors of the Terminating Funds and Sentry Canadian Income Class held concurrently on May 25, 2010.

The Terminating Funds transferred all of their assets to the Continuing Funds in exchange for Series A, F and I securities (as applicable) of the Continuing Funds and the assumption by the Continuing Funds of all the liabilities of the Terminating Funds. Each securityholder of the Terminating Funds received Series A, F and/or Series I securities (as applicable) of the Continuing Funds having the same aggregate net asset value as their respective securities of the Terminating Funds as of the close of business on June 4, 2010 as listed below.

Terminating Funds

Series

Continuation Funds

Conversion Ratio

Sentry Select Balanced Class

A

Sentry  Canadian Income Class

0.9872

Sentry Select Balanced Class

F

Sentry  Canadian Income Class

0.9862

Sentry Select Balanced Class

I

Sentry  Canadian Income Class

0.9853

 

 

 

 

Sentry Select Balanced Fund

A

Sentry Canadian Income Fund

0.6253

Sentry Select Balanced Fund

F

Sentry Canadian Income Fund

0.5973

Sentry Select Balanced Fund

I

Sentry Canadian Income Fund

0.5872

 

 

 

 

Sentry Select Canadian Energy Growth Class

A

Sentry  Canadian Income Class

0.8915

Sentry Select Canadian Energy Growth Class

F

Sentry  Canadian Income Class

0.8899

Sentry Select Canadian Energy Growth Class

I

Sentry Canadian Income Class

0.8884

 

 

 

 

Sentry Select Canadian Energy Growth Fund

A

Sentry Energy Growth & Income Fund

2.9183

Sentry Select Canadian Energy Growth Fund

F

Sentry Energy Growth & Income Fund

2.9736

 

 

 

 

Sentry Select Dividend Growers Fund

A

Sentry Canadian Income Fund

0.5374

Sentry Select Dividend Growers Fund

F

Sentry Canadian Income Fund

0.5207

Sentry Select Dividend Growers Fund

I

Sentry  Canadian Income Fund

0.5526

 

Costs of the Mergers: All costs and expenses associated with the Mergers will be borne by the Manager.

Special cash distributions: As a result of the Mergers, Sentry Select Balanced Fund and Sentry Select Canadian Energy Growth Fund made special cash distributions to securityholders of record at the close of business (Toronto time) on June 4, 2010. Sentry Select Balanced Fund made special cash distributions of $0.0193 per Series A security, $0.0661 per Series F security and $0.1144 per Series I security. Sentry Select Canadian Energy Growth Fund made special cash distributions of $7.7907 per Series A security and $8.8326 per Series F security. These special cash distributions represent the estimated total undistributed net income and net realized capital gains that the funds received throughout the year up to the point of the Mergers and are payable on June 7, 2010.

Investment objectives of Continuing Funds: Sentry Canadian Income Fund is an open-end mutual fund with approximately $845.8 million in assets as at June 4, 2010 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 Canadian Income Class is an open-end mutual fund with approximately $65.0 million in assets as at June 4, 2010 prior to the Mergers. The fund’s investment objective is to provide long-term returns by investing substantially all of its assets in securities of Sentry Canadian Income Fund.

Sentry Energy Growth and Income Fund (formerly Sentry Select Energy Income Fund) is an open-end mutual fund with approximately $76.7 million in assets as at June 4, 2010 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 Select Capital Inc.: Sentry Select Capital Inc. is a Canadian wealth management company that offers a diverse range of investment products including closed-end investment funds, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates.


Documents (including press releases) regarding the various investment funds that are managed or advised by Sentry are provided for information purposes only and cannot be relied on to be complete, exhaustive or error-free unless the complete set of documents for any given investment fund with respect to which information is being sought is reviewed and then only on SEDAR (www.sedar.com).