TORONTO, ONTARIO--(Marketwire - March 19, 2012) - Sentry Investments Inc. ("Sentry" or the "Manager"), the manager of Sentry Select Global Index Income Trust (the "Trust"), announces that a special meeting of the Trust's unitholders (the "Meeting") will be held for the purpose of considering the proposed termination of the Trust, which is projected to occur on or about June 22, 2012 (the "proposed termination"). The Trust is currently scheduled to terminate on August 31, 2013.
The Manager believes that the proposed termination of the Trust is in the best interests of unitholders for the following reasons:
The Meeting is expected to be held on or about May 15, 2012 to seek unitholder approval for the proposed termination. A Management Information Circular providing a complete description of the matters to be considered at the Meeting will be sent to unitholders of record in due course.
The Manager has agreed to bear the associated costs of the Meeting, while the fees and expenses in respect of the proposed termination will be borne by the Fund.
The proposed termination will be presented by the Manager to the Trust's Independent Review Committee for its consideration.
The Manager also announces that it is waiving its management fee effective March 1, 2012 until the termination of the Trust, regardless of whether or not the proposed termination of the Trust is approved by unitholders. The Manager had been receiving a management fee at an annual rate of 0.30% of the Trust's net asset value.
Sentry Select Global Index Income Trust
Sentry Select Global Index Income Trust is a closed-end investment trust that aims to (i) provide unitholders with the return of the original issue price of the Units ($25.00 per Unit) to unitholders upon the Trust's termination on August 31, 2013; and (ii) preserve and potentially enhance the value of the Trust's Managed Portfolio. The Trust's Units trade on the Toronto Stock Exchange under the symbol SGT.UN.
Sentry Investments is a Canadian asset management company with approximately $7 billion in assets under management on behalf of Canadian investors. Sentry Investments offers 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 Funds Group at the 2011 and 2012 Lipper Fund Awards and was one of only five companies in 2011 to receive the prestigious Brendan Wood International TopGun Asset Management Team Award.
Capitalized terms used herein, but undefined, are as defined in the Trust's amended and restated Declaration of Trust dated January 1, 2009.
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 including, but not limited to, the projected date of the Trust's proposed termination. 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. 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.
|Sentry Investments Inc.|
|Commerce Court West|
|199 Bay Street, Suite 4100|
|P.O. Box 108|
|Toronto, ON M5L 1E2|
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).