TORONTO, ON--(Marketwired - March 24, 2016) - Sentry Investments Inc. ("Sentry") is pleased to share final details on its previously announced plans to simplify the series offered within its mutual fund lineup.
"We are simplifying the number of series offered in an effort to make it easier for advisors and investors to invest with Sentry," said Kos Lazaridis, Vice-President, Product. "By adding automatic preferred pricing discounts to our front-end and fee-based series in January, and now eliminating our Series P and Series PF, we have made it easier for financial advisors to ensure they are getting the best pricing for which their clients qualify, back to the first dollar invested."
Pending the required approvals, the following series re-designations (collectively, the "Series Re-designations") will take effect as of the open of business on April 4, 2016:
None of the Series Re-designations noted above will result in a taxable event for investors and no action is required by investors. The Series Re-designations will not impact the management of the funds.
In anticipation of the upcoming Series Re-designations, Series P, PF, P8 and PF8 (collectively, "Series P and PF") of each fund, as applicable, will be closed to new purchases as of end of business today. The elimination of Series P and PF stems from the introduction this past January of preferred pricing to investors in Series A and Series T (under the front-end option) and Series F and Series FT4, FT5, FT6, FT7 and FT8.
Also effective as of the open of business on April 4, 2016, Sentry will replace the management fee rebates for investments under $100,000 implemented earlier this year for Series A and T under the front-end option with actual management fee reductions with respect to these series. Investors with balances of $100,000 or more in these series will still receive preferred pricing discounts in the form of management fee rebates.
As Series A and T investors currently invested in a Deferred Sales Charge Option will be changed into a new series with substantially the same attributes and fund codes, these investors will simply see a new series name on their statements.
The Series Re-designations for investors in Sentry's corporate classes required securityholder approval. With this in mind, Sentry is pleased to announce that investors in each of the corporate class mutual funds identified below (each, a "Corporate Fund" and collectively, the "Corporate Funds"), voted earlier today at special meetings, held concurrently, to authorize the filing of articles of amendment of Sentry Corporate Class Ltd. ("Sentry Corp."). Obtaining this investor approval will allow Sentry to implement the Series Re-Designations in respect of each Corporate Fund, effective as of the open of business on April 4, 2016.
As more fully described in the management information circular dated February 25, 2016, the articles of Sentry Corp. will now reflect current industry standards with respect to the rights, privileges, restrictions and conditions found in articles of many other mutual fund corporations. The articles of amendment of Sentry Corp. are expected to be filed on April 1, 2016.
Sentry Corp. is a mutual fund corporation incorporated under the laws of the province of Ontario, of which the Corporate Funds are each a class of shares. Sentry Corp. consists of the following classes of shares: Sentry Canadian Income Class, Sentry Diversified Equity Class, Sentry Global Growth and Income Class, Sentry Small/Mid Cap Income Class, Sentry U.S. Growth and Income Class, Sentry Canadian Resource Class, Sentry Global REIT Class, Sentry Precious Metals Class, Sentry Conservative Balanced Income Class, Sentry Corporate Bond Class, Sentry Global High Yield Bond Class, Sentry Money Market Class, Sentry Growth Portfolio, Sentry Growth and Income Portfolio, Sentry Balanced Income Portfolio and Sentry Conservative Income Portfolio.
For further information, please contact Sentry Client Services at 1-888-698-5553 or visit www.sentry.ca.
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.
Sentry Investments Inc.
Commerce Court West
199 Bay Street, Suite 2700
P.O. Box 108
Toronto, ON M5L 1E2
Investor Relations (broker/investor inquiries)
1-888-698-5553 or 416-506-8429
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).