Toronto-based Sentry Investments Inc. on Monday announced adjustments to the annual distribution rates for 10 mutual funds and changes to 15 mutual fund names.
“The goal of the distribution changes is to ensure consistent and sustainable cash flow for investors, while the name changes were made in order to more clearly reflect the funds’ objectives, strategies and underlying exposures,” Sentry says in a statement.
There will be distribution rate increases for five mutual funds and reductions for five. The changes are the result of Sentry’s annual review of distribution rates. These changes will take effect on or about Jan. 29, 2016, and the exact distribution amounts will be determined and announced on or about Jan. 8, 2016.
Sentry has also launched new 8% fixed-rate fund series for Sentry Growth and Income Fund, and Sentry REIT Fund/Class for those still seeking a higher fixed distribution amount. Investors may choose to switch to an appropriate new series before Jan. 29, 2016. Switches between series of the same mutual fund will not result in a taxable event.
Effective immediately, Sentry has changed the names of 15 mutual funds. “There will be no change to the respective objective, strategies or the way in which the portfolio managers manage these funds,” the Sentry statement says.
Click here to review the complete list of distribution rate and fund name changes.
See also: Aubrey Hearn: Investment Executive’s Fund Manager of the Year