Sentry Select Trust Completes IPO

Sentry Select Focused Growth & Income Trust, an investment trust, completed an initial public offering of 4.1 million trust units at $20 per unit for gross proceeds of $82 million on January 24, 2002. The trust’s investment objectives are to provide unitholders with a stable stream of monthly distributions targeted to be at least $0.16-2/3 per unit (10 per cent per annum on the original issue price), and to preserve and potentially enhance the value of the trust’s portfolio, which consists primarily of securities of oil and gas trusts, oil sands businesses and real estate investment trusts.

Borden Ladner Gervais LLP acted for the trust, with a team that included Paul Findlay and Daniel Westreich (securities/corporate) and Craig Webster and Heather Cormier (tax). Blake, Cassels & Graydon LLP acted for the agents, National Bank Financial Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., TD Securities Inc., Desjardins Securities Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Canaccord Capital Corporation, Dundee Securities Corporation, Yorkton Securities Inc., Research Capital Corporation and Trilon Securities Corporation, with a team that included Jeff Glass and Anoop Dogra (securities) and Ron Richler (tax).