Sentry Select Capital Corp. in Toronto said Thursday that it has raised the annual service fee it pays to dealers for Series A units of Sentry Select Focused 50 Income Fund from 0.50% to 1.25%.
Investors will not be affected by the change, the company said. The fee is paid entirely by Sentry Select, not by the fund or its investors.
The fee will be calculated and paid quarterly to each dealer at the rate of one-quarter of 1.25% of the average value of Series A units held in the fund by the dealer's clients during each complete calendar quarter. The fee is for service given to investors by their dealers during the year.
Sentry Select Capital is a wealth management company with gross assets under management of more than $9 billion. It is the portfolio manager for 18 closed-end trusts, four flow-through limited partnerships, and 11 mutual funds; the manager of an investment corporation; the marketing agent for a series of principal-protected notes; and the administrator of three closed-end trusts.
