Securityholders approve merger of two Sentry classes
Sentry securityholders have approved a merger of two of the firm's investment classes.
Business negotiations may no longer be needed by Sentry Investments, as it has confirmed the securityholders of the Sentry Previous Metals Growth Class and Sentry Mining Opportunities Class have approved a merger between the two funds.
This should be effective from March 16th 2012, at which point the opportunities fund would transfer all of its assets to the growth sector.
It is hoped this would help the organisation's long-term objective of producing capital appreciation by supporting investments in the equity securities of firms involved in precious metals.
All costs involved in this merger would be borne by Sentry Investments.
Currently, the Canadian-based asset management company holds around £7 billion, which it manages on behalf of its investor clients.
It recently won the Lipper Best Equity Funds Group Award, marking the second consecutive year it has been presented with this commendation.
At the time, its chief executive officer and president Sandy McIntyre said: "Providing better risk-adjusted returns is the goal of each of our portfolio management teams and core to their common investment process."
Posted by Ron Maverick
Source: Sentry press release, March 8th