TORONTO, ONTARIO--(Marketwire - Oct. 29, 2010) - Sentry Select Capital Inc. ("Sentry" or the "Manager"), the manager of the Terminating Funds and Continuing Funds (listed in the table below), proposes that the Terminating Funds be merged (the "Mergers") into the Continuing Funds as follows:
|Terminating Fund||Continuing Fund|
|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|
Special Meetings of Unitholders (the "Meetings) are expected to be held concurrently on or about January 10, 2011 to seek unitholder approval for the Mergers. A Joint Management Information Circular providing a complete description of the matters to be considered at the Meetings, as well as the rationale for the proposed Mergers, will be sent to unitholders in due course.
The proposed Mergers will be reviewed by the Independent Review Committee of each of the Terminating Funds and Continuing Funds. The proposed Mergers are also subject to regulatory approval.
Costs of the Mergers
All costs and expenses associated with the Mergers will be borne by the Manager.
Tax consequences of the Mergers
The Manager is proposing that the Mergers be effected on a taxable basis.
Investment objectives of the Continuing Funds
Sentry Energy Growth and Income Fund is an open-end mutual fund with approximately $100 million in assets as at September 30, 2010. 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 $965 million in assets as at September 30, 2010. The Fund's investment objective 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 (REITs) and income trusts.
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, closed-end trusts 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 including, but not limited to, failure to receive all required regulatory approvals to implement the Mergers should they be approved by unitholders at the Meetings. 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. Past results are not a guarantee of future performance. For a complete disclosure record for all of the Terminating Funds and of the Continuing Funds, please visit their respective profiles at www.sedar.com.
|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|
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).