TORONTO, ON--(Marketwired - January 13, 2016) - Following Sentry Investments Inc.'s ("Sentry's") announcement last week about management fee reductions across its mutual fund lineup and industry-leading preferred pricing, Sentry is pleased to now be able to elaborate on its plans to simplify its fund series.
Pending the required approvals, Sentry will implement the following changes in April 2016:
"In order to provide lower prices immediately, we implemented fee rebates for front-end Series A and T investors," said Kos Lazaridis, Vice-President, Product, Sentry Investments. "With our proposed series changes, we will be able to formally reduce those fees while also simplifying our fund series to A, B, F, O and I, along with any corresponding fixed-rate distribution series."
These series re-designations will not result in a taxable event for investors. The transitions from Series P, PF, PT and PFT to corresponding Series A, F, T and FT will be a switch transaction within the same mutual fund trust or corporate class structure. Series A and T investors in the current back-end purchase options will be part of a new series, with the same attributes and fund codes, so they will simply see a new series name on their statements.
The re-designation of investors in Sentry's mutual fund trusts will occur automatically in April upon the expiry of any applicable notice periods, while the re-designation of investors in Sentry's corporate classes requires securityholder approval. In order to seek the necessary approvals to effect these changes in April, Sentry intends to call special meetings of corporate class securityholders to be held in March.
SENTRY INVESTMENTS INC.
Sentry Investments was founded in 1997 and is one of Canada's fastest-growing independent asset management companies. Sentry manages over $18 billion in assets on behalf of more than 500,000 Canadian investors. Sentry offers a diverse range of award-winning investment products, available through financial advisors, including domestic and global 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.
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).