Select 50 S-1 Income Trust

Snapshot

Select 50 S-1 Income Trust
TSX Symbol/Fund Code: SON.UN
Inception Date: August 28, 2003
Investment Type: Closed-end investment trust
 
Portfolio Manager:
J. Andrew Guy
Details
Portfolio Manager:
Sandy McIntyre
Details
Net Asset Value
NAVPU NAV Date
Select 50 S-1 Income Trust $11.68 August 21, 2008
show all
 
Market Price
Price Change As Of
Select 50 S-1 Income Trust $11.46 $0.01 August 27, 2008
show all
 

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Product overview


Select 50 S-1 Income Trust is a closed-end investment trust that invests in the 50 largest income trusts in Canada. The Trust is designed to provide stable monthly distributions, with potential capital appreciation.

The portfolio is passively managed according to a proprietary investment method that ensures broad diversification, reduced portfolio risk, and stable, tax-advantaged distributions. Investments are primarily in power and utility trusts, real estate investment trusts, and business trusts, with limited exposure to oil and gas resource trusts.

Investors benefit in several key ways:
• Tax-advantaged distributions, as a portion is tax-deferred return of capital
• A secure investment with lower risk, assured by the Trust’s SR-1 stability rating – the highest Standard and Poor’s rating for Canadian income funds
• Lower management fees than other SR-1 rated products, due to passive management
• Potential long-term capital appreciation, with lower volatility than traditional equities

The Trust meets the needs of investors who seek attractive, sustainable distributions, and the potential for capital appreciation. It especially suits investors interested in a well-diversified income trust offering reduced risk and lower management fees.

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Performance


Average Annual Compound Returns - by Market Price  (as of July 31, 2008)

YTD
3 Month
6 Month
1 Year
3 Year
5 Year
SI
5.7%
-1.5%
9.7%
4.1%
6.7%
n/a
14.0%

Annual Returns - by NAV

2007
2006
2005
2004
2003*
8.8%
1.1%
26.2%
27.9%
2.2%

Annual Returns - by Market Price

2007
2006
2005
2004
2003*
5.5%
2.1%
30.1%
18.6%
8.7%
*Total return for the period August 28. 2003 - December 31, 2003

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Portfolio manager

J. Andrew Guy, Portfolio Manager

Andrew has more than 15 years of experience in the financial services industry, including the lead management of in-house equity portfolios for a major financial institution. He joined Sentry Select in 2006 and specializes in both North American and global equities.

Sandy McIntyre, Senior Vice-President and Chief Investment Officer

James Alexander (Sandy) McIntyre has 30 years of experience in the financial services industry, and is recognized as one of Canada’s leading authorities in income trust investing. He leads the Sentry Select income trust team, which manages the portfolios of four mutual funds and 11 closed-end income trusts, including Sentry Select Diversified Income Trust, Canada’s first portfolio of income trust investments. Sandy joined Sentry Select in 2000.

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Distributions


Current monthly distributions of $0.08

2007

2006

2005
2004
20031
From income (exc. dividends)

0.49

0.47

0.46
0.30
-
From dividends

0.03

0.04

0.09
0.13
-
From capital gains

1.18

1.19

0.73
0.23
-
Return of capital

0.05

0.02

0.19
0.15
0.21
Total distributions 2

1.75

1.72

1.47
0.81
0.21
1 Results are for the period from August 28, 2003 - December 31, 2003.
2 Distributions are based on the actual number of units outstanding at the relevant time.

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Portfolio holdings


Summary of investment portfolio (as of June 30, 2008):

Net assets: $186,900,202

Top 25 holdings:
(unaudited)
Name of security

% of Net Assets

Fording Canadian Coal Trust5.43
Canadian Oil Sands Trust4.91
Inter Pipeline Fund L.P., Cl. A4.51
Bell Aliant Regional Communications Income Fund4.49
Pembina Pipeline Income Fund4.46
Penn West Energy Trust 4.45
AltaGas Income Trust4.41
RioCan REIT4.39
Yellow Pages Income Fund4.33
Labrador Iron Ore Royalty Income Fund4.23
Canadian REIT4.20
CI Financial Income Fund4.18
H&R REIT4.18
Boardwalk REIT4.06
Calloway REIT3.80
Fort Chicago Energy Partners L.P. Cl. A3.56
Teranet Income Fund3.37
CML Healthcare Income Fund3.21
Enerplus Resources Fund3.12
Keyera Facilities Income Fund3.11
Canadian Apartment Properties Real Estate Trust2.81
ARC Energy Trust2.44
EPCOR Power LP2.14
Cominar REIT2.12
Precision Drilling Trust1.85

Portfolio Breakdown: (unaudited)
Sector

% of Net Assets

Real estate investment trusts (REITs)28.03
Utilities & Infrastructure26.04
Energy17.93
Consumer13.12
Resource10.17
Industrial10.07
Power6.63
Cash and cash equivalents2.35
Liabilities, net of other assets(14.34)
Total Net Assets

100.00

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