Sentry Select Capital Inc. has completed the conversion of the Sentry Select Lazard Global Listed Infrastructure Fund from a closed-end investment trust to an open-end mutual fund, the company announced on Thursday.

Units of the fund will be converted into Series X units of the open-end fund with the same net asset value per unit. Units of the fund are redeemable on a daily basis at NAV per unit.

Global fund manager Lazard Asset Management will continue to act as the sub-advisor for the fund, the company said.

As of April 1, the NAV per unit of the fund was $4.34. The fund intends to continue paying a quarterly distribution of $0.125 per unit representing an annualized yield of 11.52% as of April 1.

Sentry Select also announced that it intends to qualify additional series of units of the fund for sale to investors by June 2009.