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.
Sentry Select converts global fund to open structure
New series of infrastructure fund units to be offered by June
- By: IE Staff
- April 2, 2009 April 2, 2009
- 14:24
IE Staff