TORONTO, ONTARIO--(Marketwire - Dec. 15, 2011) - Sentry Investments Inc. ("Sentry"), the manager of SEF Private Issuers Trust (the "Trust"), announces that unitholders of the Trust have been provided notice of the upcoming termination and wind-up of the Trust. The Trust is expected to terminate on or about January 15, 2012.
In accordance with the Trust's stated purpose, since its formation on February 13, 2009, Sentry has been efficiently and effectively liquidating the Trust's portfolio, which was comprised of the securities of numerous private issuers. This process, which was slated to take approximately three years, is now nearing completion. In addition, the Trust had set aside a litigation reserve of $3 million to fund any assumed indemnification obligations stemming from a litigation matter that was outstanding at the date the Trust was formed and the acquisition of certain assets and liabilities of Strategic Energy Fund. As announced on November 1, 2011, this outstanding litigation has now been resolved in favour of the Trust and as such, the litigation reserve is no longer necessary and the remaining amount will be part of the cash distributed to unitholders upon the termination of the Trust.
As of November 30, 2011, the net asset value of the Trust was $0.47 per unit, this net asset value represents the approximate amount of proceeds available for distribution upon the termination of the Trust. The actual amount distributed may differ from this per unit amount. Sentry, as trustee of the Trust, will distribute, on a pro rata basis, the proceeds of the Trust's termination to unitholders of record as soon as possible and after paying, retiring or discharging all known liabilities and obligations (actual or contingent) of the Trust. Investors will receive the proceeds of the Trust's termination in the normal course from their dealer of record.
Sentry Investments is a Canadian asset management company with approximately $6.5 billion in assets under management on behalf of Canadian investors. We offer a diverse range of investment products including mutual funds, hedge funds, flow-through limited partnerships and other alternative investment products. Sentry Investments was recognized as Canada's Best Equity Fund Family at the Lipper Fund Awards 2011 and was one of only five companies in 2011 to receive the prestigious Brendan Wood International TopGun Asset Management Team Award.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "intend," "will" and similar expressions to the extent they relate to Sentry. The forward-looking statements are not historical facts but reflect 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, including the ability of Sentry to pay the indicated special distributions on the dates specified. 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 the Trust, please visit its profile at www.sedar.com.
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).