TORONTO, ONTARIO--(Marketwired - Jan. 6, 2014) - Sentry Investments Inc. ("Sentry") is pleased to announce that Sentry Corporate Class Ltd. (the "Corporation") has acquired all of the assets of NCE Diversified Flow-Through (12) Limited Partnership (the "Partnership"). The total value of the assets at the time of the acquisition was $52,495,868.
Mutual fund share value of the (12) Partnership
In exchange for the Partnership's assets, the Partnership received an aggregate of 2,414,142.3192 Series A initial sales charge option shares (the "Shares") of Sentry Canadian Resource Class (the "Fund") at a net asset value of $21.745 per Share in the capital of the Corporation. As a result, each Partnership unit is worth the equivalent of 0.6039 a Share.
Value of the Partnership units
As at the close of business on January 3, 2014, the value of the Partnership units was $13.13 per unit.
Distribution of mutual fund shares
Following the transfer of the Partnership's assets in exchange for the Shares of the Fund on January 3, 2014, the Partnership distributed all of the Shares to its limited partners in proportion to their respective interest in the Partnership. The former limited partners of the Partnership are now shareholders of the Corporation. The Shares are redeemable on a daily basis at the net asset value per Share and can be converted into shares of other corporate classes as described below.
Notice to limited partners
A notice in connection with the proposed sale of the Partnership's assets to the Corporation in exchange for the Shares and the subsequent dissolution of the Partnership was mailed to the limited partners of the Partnership in December 2013.
Sentry Canadian Resource Class
Sentry Canadian Resource Class is a class of mutual fund shares of the Corporation. To achieve its objective of long-term growth through capital appreciation, the Fund invests primarily in equities and other securities of Canadian companies engaged in energy and natural resource industries such as oil and gas, mining and minerals, forestry and other resources, as well as sectors that are dependent on these industries such as pipelines, utilities and equipment manufacturers. As at the close of business on January 3, 2014 the net asset value of the Fund prior to the acquisition was approximately $74,959,033.
Sentry Corporate Class Ltd.
In addition to the Fund, the Corporation offers shares of Sentry Canadian Income Class, Sentry Conservative Balanced Income Class, Sentry Diversified Equity Class, Sentry Global Growth and Income Class, Sentry Money Market Class, Sentry Precious Metals Growth Class, Sentry REIT Class and Sentry U.S. Growth and Income Class. The corporate class structure allows investors to convert shares of one corporate class fund into another without triggering any capital gains tax.
NCE Diversified Flow-Through (14) Limited Partnership
A preliminary prospectus, dated December 18, 2013, for NCE Diversified Flow-Through (14) Limited Partnership has been filed with, and the receipt issued by, the securities commissions and regulatory authorities in each of the provinces and territories of Canada. The offering price per unit is $25.00 with a minimum subscription of 200 units ($5,000).
Sentry Investments was founded in 1997 and has grown to become one of Canada's largest and fastest-growing Canadian asset management companies. Sentry manages over $12 billion in assets on behalf of more than 350,000 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.
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," "anticipate," "will" and similar expressions to the extent they relate to NCE Diversified Flow-Through (14) Limited Partnership, the Partnership or the Fund. The forward-looking statements are not historical facts but reflect the Corporation's and 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. 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 NCE Diversified Flow-Through (14) Limited Partnership, the Partnership and the Corporation, please visit their respective profiles on www.sedar.com.
A preliminary prospectus containing important information relating to these securities of NCE Diversified Flow-Through (14) Limited Partnership has been filed with securities commissions or similar authorities in all the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any one of the dealers comprising the syndicate of agents which is co-led by RBC Dominion Securities Inc., CIBC World Markets Inc. and National Bank Financial Inc., includes BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Manulife Securities Incorporated, Desjardins Securities Inc., Raymond James Ltd., Burgeonvest Bick Securities Ltd., Dundee Securities Ltd., Laurentian Bank Securities, Inc. and Mackie Research Capital Corporation. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
|Sentry Investments Inc.|
|Commerce Court West|
|199 Bay Street, Suite 4100|
|P.O. Box 108|
|Toronto, ON M5L 1E2|
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).