TORONTO, ON–(Marketwired – August 18, 2017) – As previously announced by CI Financial Corp. (“CI Financial“) and Sentry Investments Corp. (“SIC“), the parent company of Sentry Investments Inc. (“Sentry“), in a joint press release on August 10, 2017, CI Financial has agreed to acquire all of the outstanding shares of SIC and all of the outstanding shares of Sentry not owned by SIC.
The completion of the transaction will result in a change of control of Sentry, the investment fund manager of each of the funds listed below (“Sentry Funds“). Sentry has today mailed to securityholders of each of the Sentry Funds a notice in respect of the transaction in accordance with applicable Canadian securities laws. Securityholders are not required to take any action as a result of the transaction or the notice.
No immediate material changes to the Sentry Funds are contemplated as a result of the transaction. There are no immediate plans to increase the management fees that the Sentry Funds charge or the operating expenses that they pay, to change the structures, investment objectives or strategies of the Sentry Funds, or to change the role of Sentry as manager of the Sentry Funds. Following closing of the transaction, it is intended that the existing Independent Review Committee of the Sentry Funds will continue to be responsible for the fund governance of the Sentry Funds.
The transaction, which is subject to regulatory approval and customary closing conditions, is currently expected to close on or about September 29, 2017.
Sentry Funds
Closed-End Funds – Sentry Select Primary Metals Corp. (TSX: PME); Precious Metals Mining Trust (TSX: MMP.UN); and NCE Diversified Flow-Through (16) Limited Partnership.
Mutual Funds – Sentry All Cap Income Fund; Sentry Canadian Income Fund; Sentry Diversified Equity Fund; Sentry Global Growth and Income Fund; Sentry Global Infrastructure Fund; Sentry Global Mid Cap Income Fund; Sentry Growth and Income Fund; Sentry Small/Mid Cap Income Fund; Sentry U.S. Growth and Income Fund; Sentry Energy Fund; Sentry Global REIT Fund; Sentry Precious Metals Fund; Sentry Alternative Asset Income Fund; Sentry Conservative Balanced Income Fund; Sentry Conservative Monthly Income Fund; Sentry Global Monthly Income Fund; Sentry U.S. Monthly Income Fund; Sentry Canadian Bond Fund; Sentry Corporate Bond Fund; Sentry Global High Yield Bond Fund; Sentry Money Market Fund; Sentry Canadian Equity Income Private Trust; Sentry International Equity Income Private Trust; Sentry U.S. Equity Income Private Trust; Sentry Energy Private Trust; Sentry Global Infrastructure Private Trust; Sentry Global Real Estate Private Trust; Sentry Precious Metals Private Trust; Sentry Canadian Fixed Income Private Pool; Sentry Canadian Core Fixed Income Private Trust; Sentry Global Core Fixed Income Private Trust; Sentry Global High Yield Fixed Income Private Trust; Sentry Global Tactical Fixed Income Private Pool; Sentry Real Long Term Income Trust; Sentry Real Mid Term Income Trust; Sentry Real Short Term Income Trust; Sentry Canadian Income Class; Sentry Diversified Equity Class; Sentry Global Growth and Income Class; Sentry Small/Mid Cap Income Class; Sentry U.S. Growth and Income Class; Sentry U.S. Growth and Income Currency Neutral Class; Sentry Canadian Resource Class; Sentry Global REIT Class; Sentry Precious Metals Class; Sentry Conservative Balanced Income Class; Sentry Corporate Bond Class; Sentry Global High Yield Bond Class; Sentry Money Market Class; Sentry Growth Portfolio; Sentry Growth and Income Portfolio; Sentry Balanced Income Portfolio; Sentry Conservative Income Portfolio; Sentry Defensive Income Portfolio; Sentry Canadian Equity Income Private Pool Class; Sentry Global Equity Income Private Pool Class; Sentry International Equity Income Private Pool Class; Sentry U.S. Equity Income Private Pool Class; Sentry U.S. Equity Income Currency Neutral Private Pool Class; Sentry Balanced Yield Private Pool Class; Sentry Global Balanced Yield Private Pool Class; Sentry Global Investment Grade Private Pool Class; Sentry Real Growth Pool Class; Sentry Real Long Term Income Pool Class; Sentry Real Mid Term Income Pool Class; Sentry Real Short Term Income Pool Class; Sentry Real Income 1941-45 Class; Sentry Real Income 1946-50 Class; and Sentry Real Income 1951-55 Class.
About Sentry Investments
Sentry Investments is one of Canada’s leading independent investment managers, with about $19.1 billion in assets under management as of July 31, 2017. Founded in 1997, Sentry offers a diverse range of investment products and solutions through financial advisors and investment dealers, as well as portfolio management services to a variety of institutional clients. Further information is available at www.sentry.ca.
About CI Financial Corp.
CI Financial Corp. (TSX: CIX) is an independent, Canadian-owned wealth management company with approximately $160.5 billion in assets as of July 31, 2017. Its primary operating businesses are CI Investments Inc., one of Canada’s largest investment managers, advisory businesses Assante Wealth Management and Stonegate Private Counsel, Grant Samuel Funds Management of Australia, and First Asset Investment Management, a leader in providing actively managed exchange-traded funds to the Canadian marketplace. Further information is available at www.cifinancial.com.
Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Sentry Funds. Please read the prospectus before investing. Investments in the Sentry Funds are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expected”, “intended”, “plans”, “will” and similar expressions to the extent they relate to Sentry or the Sentry Funds. 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. 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. 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 Sentry Funds, please visit their respective profiles at www.sedar.com.
For further information, contact:
Brad Zakrzewski
Senior Vice-President, Strategy
Sentry Investments
Phone: 416-861-8729
Email: [email protected]
