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Sentry Investments proposes changes to capital yield class funds

TORONTO, ONTARIO--(Marketwire - April 1, 2013) - On March 21, 2013, the federal government unveiled its budget proposal, which included an elimination of the tax benefits traditionally associated with character conversion transactions. As a result of this announcement, any capital gains realized in relation to forward contracts must be treated as ordinary income.

This proposal impacts two corporate class mutual funds managed by Sentry Investments Inc. ("Sentry") that currently employ forward contracts: Sentry Enhanced Corporate Bond Capital Yield Class and Sentry Tactical Bond Capital Yield Class (collectively, the "Funds"). After much deliberation and consultation with external advisors, Sentry has decided to temporarily close both Funds to new and additional purchases, effective at the close of business on Friday, April 5, 2013, in order to protect the interests of current investors. The Funds will, however, continue to utilize their forward contracts in respect of existing assets for a period of approximately 180 days, as is currently permitted under the budget proposal.

Sentry will continue to examine the full context of the budget proposal and its potential implications, and will provide further updates in respect of the Funds in due course.


Sentry Investments was founded in 1997 and has grown to become one of Canada's largest and fastest-growing independent asset management companies. Sentry manages $10 billion in assets on behalf of more than 300,000 Canadian investors. Sentry offers a diverse range of award-winning investment products available through financial advisors, including domestic, international and income-oriented mutual funds and separately managed accounts. Sentry is one of only three firms to receive four consecutive Brendan Wood International TopGun Asset Management Team Awards (2009 to 2012).

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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, including but not limited to, the period of time in which Sentry currently intends to utilize forward contracts in respect of the Funds. 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 Sentry Group of Funds, please visit their profiles at

Sentry Investments Inc.
Commerce Court West
199 Bay Street, Suite 4100
P.O. Box 108
Toronto, ON M5L 1E2
Tel: 416-364-9297
Fax: 416-364-1197
Sentry Investments Inc.
Investor Relations (broker/investor inquiries)
416-364-1197 (FAX)

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 (