Toronto/ Calgary: Strategic Energy Management Corp. is pleased to announce its results for the 12-month period ended December 31, 2005.
Highlights • In May 2005, the Fund closed a rights offering that raised total gross proceeds of $12,992,328 through the issuance of 1,082,694 units. In September 2005 the Fund closed a cash and exchange offering, raising total aggregate gross assets of $171,400,002 through the issuance of 12,190,265 units at $14.0604 per unit and the exchange of gross assets of $27,632,272. • The Fund’s net assets were $232,650,699 at December 31, 2005, representing an approximately 430% increase from December 31, 2004. The largest factors contributing to the Fund’s increase in net assets were the cash and exchange, and the rights offerings. • In 2005, the Fund declared distributions of $1.845 per unit, consisting of $1.09 per unit in regular monthly distributions and $0.755 per unit in special distributions. The Fund increased its monthly distribution from $0.06 to $0.07 per unit in March and from $0.07 to $0.10 per unit in April. • As of April 2006, the Fund increased its monthly distributions to $0.11 per unit.• The Fund’s NAV per unit at December 31, 2005 increased approximately 7.2%, to $14.08 from $13.14 at December 31, 2004. On the Toronto Stock Exchange, the Fund’s units closed on December 30, 2005 at $13.95. • In 2005, the Fund recorded a net realized gain on sale of investments of $13,790,820 (an approximately 43% increase from 2004) and a change in unrealized appreciation of investments of $12,764,153 (an approximately 213% increase from 2004).
2005 financial resultsFor the complete 2005 Annual Management Report of Fund Performance and Annual Financial Statements, please visit www.sentryselect.com or www.SEDAR.com
Pursuant to National Instrument 81-106, financial results will be reported semi-annually, as of June 30 and December 31. Top 25 holdings and portfolio allocation by sector will be available quarterly on the Sentry Select website: www.sentryselect.com.
Strategic Energy Fund Strategic Energy Fund is an investment trust that seeks to provide unitholders with superior rates of return through a diversification strategy focused on investment opportunities within the Canadian energy sector. The Fund invests in established companies, early-stage energy companies and, to a lesser extent, special energy issuers, each with prospects for high growth in the near to medium term and the potential for long-term capital appreciation.
The Fund’s investments in established companies, including energy royalty and income trusts, are made with a view to generate sufficient income to permit the Fund to make monthly cash distributions to unitholders. Investments in early-stage energy companies are focused on both private and public issuers with strong, experienced management teams that have proven track records of enhancing shareholder value and successfully executing exit strategies. As well, the Fund may invest in undervalued issuers where Sentry Select Capital Corp., investment advisor to the Fund, believes that capital appreciation can be realized.
Trading information and NAVStrategic Energy Fund units trade on the Toronto Stock Exchange under the symbol SEF.UN. The Fund’s net asset value as of April 26, 2006 was $14.80 per unit.
Sentry Select Capital Corp.The investment advisor is Sentry Select Capital Corp., a wealth management company with gross assets under management of approximately $8.5 billion, including more than $3.0 billion in the natural resource and energy sector.
More informationInvestor Services (broker/investor inquiries) or Brian McOstrich (media inquiries)Tel: 1-888-246-6656 Fax: 416 364-1197 firstname.lastname@example.org www.sentryselect.com
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