Sentry Select Capital has proposed to merge several of its funds.
Sentry will be terminating the Sentry Select Commodities Income Trust and Oil Sands and Energy Mega-Projects Trust. They will be merged into the Sentry Energy Growth and Income Fund.
It will also terminate the Premier Value Income Trust and merge it into the Sentry Canadian Income Fund.
Special meetings of unitholders are expected to be held concurrently on or about 10 January 2011 to seek unitholder approval for the mergers.
The proposed mergers will be reviewed by the independent review committee of each of the terminating funds and continuing funds. The proposed mergers are also subject to regulatory approval.
Sentry Energy Growth and Income Fund is an open-end mutual fund with approximately CAD100m in assets. The fund’s investment objective is to provide regular income and long-term capital appreciation by investing primarily in a diversified portfolio of equity securities of Canadian companies involved in the energy sector.
Sentry Canadian Income Fund is an open-end mutual fund with approximately CAD965m in assets. The fund’s investment objective is to provide a consistent monthly income and capital appreciation by investing primarily in a diversified portfolio of Canadian securities including equities, fixed-income instruments, real estate investment trusts and income trusts.