TORONTO, ONTARIO -- (Marketwire) -- 01/07/13 -- Sentry Investments Inc. ("Sentry") is pleased to announce that Sentry Corporate Class Ltd. (the "Corporation") has acquired all of the assets of NCE Diversified Flow-Through (11) Limited Partnership (the "Partnership"). The total value of the assets at the time of the acquisition was $55,834,963.
Mutual fund share value of the Partnership
In exchange for the Partnership's assets, the Partnership received an aggregate of 2,102,034.8298 Series A sales charge option shares (the "Shares") of Sentry Canadian Resource Class (the "Fund") at a net asset value of $26.562 per Share in the capital of the Corporation. As a result, each Partnership unit is worth the equivalent of 0.5255 of a Share.
Value of the Partnership units
As at the close of business on January 4, 2013, the value of the Partnership units was $13.96 per unit.
Distribution of mutual fund shares
Following the transfer of the Partnership's assets in exchange for the Shares of the Fund on January 4, 2013, the Partnership distributed all of the Shares to its limited partners in proportion to their respective interest in the Partnership. The former limited partners of the Partnership are now shareholders of the Corporation. The Shares are redeemable on a daily basis at the net asset value per Share and can be converted into shares of other corporate classes as described below.
Notice to limited partners
A notice in connection with the proposed sale of the Partnership's assets to the Corporation in exchange for the Shares and the subsequent dissolution of the Partnership was mailed to the limited partners of the Partnership in December 2012.
Sentry Canadian Resource Class
Sentry Canadian Resource Class is a class of mutual fund shares of the Corporation. To achieve its objective of long-term growth through capital appreciation, the Fund invests primarily in equities and other securities of Canadian companies engaged in energy and natural resource industries such as oil and gas, mining and minerals, forestry and other resources, as well as sectors that are dependent on these industries such as pipelines, utilities and equipment manufacturers. As at the close of business on January 4, 2013 the net asset value of the Fund prior to the acquisition was approximately $105,295,141.
Sentry Corporate Class Ltd.
In addition to Sentry Canadian Resource Class, the Corporation offers shares of Sentry Canadian Income Class, Sentry Conservative Balanced Income Class, Sentry Diversified Total Return Class, Sentry Enhanced Bond Capital Yield Class, Sentry Global Growth and Income Class, Sentry Money Market Class, Sentry Precious Metals Growth Class, Sentry Tactical Bond Capital Yield Class and Sentry U.S. Growth and Income Class. The corporate class structure allows investors to convert shares of one corporate class fund into another without triggering any capital gains tax.
NCE Diversified Flow-Through (13) Limited Partnership
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