Sentry Select Global Real Estate Fund

Snapshot

Global Real Estate Fund - Class F units

Global Real Estate Fund - Listed units

Effective February 1, 2010, Sentry Select Global Real Estate Fund merged with Sentry Select REIT Fund.

Summary of investment portfolio (as of December 31, 2009):

Net assets: $ 23,888,399

Top holdings: (unaudited)

Name of security	% of Net Assets
H&R REIT	6.37
Killam Properties Inc.	6.30
Allied Properties REIT	6.04
Riocan REIT	5.94
Calloway REIT	5.76
Artis REIT	5.62
Boardwalk REIT	5.40
First Capital Realty Inc.	5.02
Primaris Retail REIT	5.01
Canadian REIT	4.99
Cominar REIT	4.43
Brookfield Properties Corp.	3.92
Chartwell Seniors Housing REIT	3.28
Starwood Property Trust, Inc.	3.14
Northern Property REIT	3.09
Vanguard REIT ETF	2.65
Simon Property Group, LP 10.35 Apr 01/19	2.50
Riocan REIT 8.33 Apr 03/14	2.36
Kimco Realty Corp.	2.13
Cominar REIT 6.50 Sep 30/16	1.78
Brookfield Asset Management Inc. 8.95 Jun 02/14	1.52
AvalonBay Communties REIT	1.15
Simon Property Group Inc.	1.13
Boston Properties REIT	1.09
Ramco-Gershenson Properties Trust	1.09

Portfolio Breakdown: (unaudited)

Sector	% of Net Assets
Retail REITs	26.68
Diversified REITs	15.79
Real estate operating companies	11.15
Office REITs	10.27
Residential REITs	9.64
Corporate bonds	7.31
Diversified real estate activities	5.02
Specialized REITs	3.28
Equity indicies	2.65
Corporate convertible bonds	1.78
Cash and Cash Equivalents	8.11
Liabilities, net of other assets	(1.68)
Total Net Assets	100.00