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
A preliminary prospectus, dated December 14, 2012, for NCE Diversified Flow-Through (13) Limited Partnership has been filed with, and the receipt issued by, the securities commissions and regulatory authorities in each of the provinces and territories of Canada. The offering price per unit is $25.00 with a minimum subscription of 200 units ($5,000).
Sentry Investments is a Canadian asset management company with approximately $9 billion in assets under management on behalf of Canadian investors. Sentry Investments offers a diverse range of investment products including mutual funds and flow-through limited partnerships. Sentry Investments was recognized as Canada's Best Equity Funds Group at the 2011 and 2012 Lipper Fund Awards(1) and is one of only three firms to receive four consecutive Brendan Wood International TopGun Asset Management Team Awards (2009 to 2012).
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect," "anticipate," "will" and similar expressions to the extent they relate to NCE Diversified Flow-Through (13) Limited Partnership, the Partnership or the Fund. The forward-looking statements are not historical facts but reflect the Corporation's and 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 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 NCE Diversified Flow-Through (13) Limited Partnership, the Partnership and the Corporation, please visit their respective profiles on www.sedar.com.
A preliminary prospectus containing important information relating to these securities of NCE Diversified Flow-Through (13) Limited Partnership has been filed with securities commissions or similar authorities in all the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any one of the dealers comprising the syndicate of agents which is co-led by CIBC, RBC Capital Markets and National Bank Financial Inc., and includes BMO Capital Markets, Scotiabank, TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Manulife Securities Incorporated, Macquarie Private Wealth Inc., Raymond James Ltd., Desjardins Securities Inc. and Mackie Research Capital Corporation.
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