TORONTO: Sentry Select Capital Corp. (“Sentry Select” or the “Manager”) is pleased to announce that it has filed and has received a receipt from the securities regulators across Canada for a preliminary prospectus qualifying the initial public offering of Sentry Select China Fund (the “Fund”), a closed-end investment fund for which Sentry Select will be the manager and trustee.
Offering Price: The offering price is $10.00 per unit and the minimum purchase quantity is 200 units ($2,000).
Investment Objectives: The Fund has been designed to provide investors with an actively managed, diversified portfolio of equity securities of companies which carry on the majority of their business in China.
The Fund’s investment objectives are to: • provide a total return for unitholders, and • pay quarterly cash distributions (initially, expected to be $0.125 per quarter, or 5% per annum based on the original price of $10.00 per unit).
The Manager: Sentry Select Capital Corp., the Manager of the Fund, is one of the fastest-growing wealth management companies in Canada and manages over $8 billion in gross assets. The company offers a diverse range of investment products including closed end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates. With 35 reporting entities, Sentry Select is the leading issuer of securities listed on the Toronto Stock Exchange.
Investment Advisor: HSBC Investments (Canada) Limited will be the investment advisor of the Fund. The investment advisor will appoint its affiliate, Halbis Capital Management (Hong Kong) Limited as the Fund’s sub-advisor. Halbis Capital Management manages assets of over US$91 billion worldwide, including US$7.7 billion in Chinese equity mandates as of December 31, 2006.
The Agents: A syndicate of agents is co-led by TD Securities Inc., CIBC World Markets and RBC Capital Markets and includes HSBC Securities (Canada) Inc., BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., Canaccord Capital Corporation, Raymond James Ltd., Blackmont Capital Inc., Dundee Securities Corporation, Berkshire Securities Inc., Desjardins Securities Inc., IPC Securities Corporation, Research Capital Corporation and Wellington West Capital Inc.
Contact Information: Tel: 1-888-246-6656 www.sentryselect.comKinga Lam (media inquiries)
This news release contains forward-looking statements that involve risks and uncertainties. These statements reflect Sentry Select’s current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, Sentry Select cannot assure that the forward-looking statements contained in this news release will be realized.A preliminary prospectus dated March 8, 2007 relating to these securities has been filed with the securities regulatory authority in each of the provinces and territories of Canada, but has not yet become final for the purpose of the sale of securities to the public. This news release shall not constitute an offer to sell or the solicitation of an offer to buy or shall there be any sale or any acceptance of an offer to buy these securities in any province or territory of Canada prior to the time a receipt of the final prospectus is obtained from such securities regulatory authorities. Important information concerning this offering is contained in the prospectus. Obtain a copy from your financial advisor and read the prospectus before investing.
Les documents (y compris les communiqués de presse) se rapportant aux divers fonds d'investissement pour lesquels Sentry agit à titre de gestionnaire ou de conseiller ne sont fournis qu'à titre informatif. Ces documents ne peuvent être considérés comme étant exhaustifs ou exempts d'erreur sans un examen approfondi de la totalité des documents se rapportant à un fonds d'investissement en particulier disponibles sur SEDAR (www.sedar.com).