Investors now have the ability to seamlessly switch among a wide range of funds
The firm has is also proposing a change to the investment objective Sentry Canadian Resource Class
The addition of Sentry expands CI’s product offering and brings new advisor and client relationships to the firm
CI will see its AUM increase by 16% to approximately $140 billion from $120.4 billion and maintain Sentry as a standalone brand
The firm spent $2 million on a conference that violated the rules and included lavish gifts for reps, including Dom Perignon, jewelry and golf outings
This week’s hearing stems from allegations Sentry violated the sales practices rules when it held a mutual fund conference in California
Lieh Wang will now manage a new options sleeve for Sentry Alternative Asset Income Fund while Paul Johnson takes over as lead manager of the global equity team
The asset manager has also implemented a special committee to review compliance issues in the area of its sales practices
Yuzpe, who has served as president and COO for more than three years, replaces Sean Driscoll as CEO, as he will now focus on his role as president Sentry’s holding company
The real income withdrawal for 2017 for the funds, which includes Sentry Real Income Managed Portfolios and Sentry Real Income Custom Solution, will rise by 1.2%