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Sentry Select 40 Split Income Trust

Snapshot

40 Split Income Trust - Capital units
TSX Symbol/Fund Code: SFO.UN
Inception Date: January 5, 2007
Investment Type: Closed-end investment trust
 
40 Split Income Trust - Preferred securities
TSX Symbol/Fund Code: SFO.PR.A
Inception Date: January 5, 2007
Investment Type: Closed-end investment trust
 
Portfolio Manager:
J. Andrew Guy
Details
Portfolio Manager:
Sandy McIntyre
Details
Net Asset Value
NAVPU NAV Date
40 Split Income Trust - Capital units $9.11 August 21, 2008
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Market Price
Price Change As Of
40 Split Income Trust - Capital units $8.40 $0.00 August 26, 2008
40 Split Income Trust - Preferred securities $9.95 $0.00 August 26, 2008
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Product overview


Sentry Select 40 Split Income Trust is a closed-end investment trust offering investors income and the potential for capital appreciation from investment in a stable, well-diversified portfolio. The offering consists of preferred shares and capital units.

The Trust’s portfolio investment guidelines are designed to limit portfolio risk, compared to passively managed products by limiting exposure to less stable securities, to any single issuer, and to the oil and gas sector as a whole.

Investors benefit in several key ways:
• Income and the potential for capital appreciation
• Proven investment management
• Disciplined, qualitative portfolio selection guidelines
• Conversion to open-end mutual fund after two years

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Performance


CAPITAL UNITS

Average Annual Compound Returns - by Market Price  (as of July 31, 2008)
YTD
3 Month
6 Month
1 Year
3 Year
5 Year
SI
18.0%
-7.0%
25.2%
-8.6%
n/a
n/a
-0.3%

Annual Returns - by NAV

 
 
 
 
 
2007 
 
 
 
 
 
 0.3%

Annual Returns - by Market Price

 
 
 
 
 
2007 
 
 
 
 
 

-19.5%


PREFERRED SECURITIES

Average Annual Compound Returns - by Market Price  (as of July 31, 2008)
YTD
3 Month
6 Month
1 Year
3 Year
5 Year
SI
3.9%
1.3%
3.1%
6.9%
n/a
n/a
13.8%


Annual Returns - by Market Price
 
 
 
 
 
2007 
 
 
 
 
 

3.7%

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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


Capital units:

Current monthly distributions of $0.0833
 2007
2006

From income (excluding dividends)

0.06

-

From dividends

0.10

-

From capital gains
0.53
-
Return of Capital

 0.31

-

Total distributions1
 1.00
-

1 Distributions are based on the actual number of units outstanding at the relevant time.

Preferred securities:

Current quarterly distributions of $0.13125

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Portfolio holdings


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

Net assets: $ 47,233,980

Top 25 holdings: (unaudited)
Name of security

% of Net Assets

Inter Pipeline Fund L.P., Cl. A3.21
Keyera Facilities Income Fund3.20
Northland Power Income Trust3.15
Fort Chicago Energy Partners L.P., Cl.A3.02
Yellow Pages Income Fund2.96
Pembina Pipeline Income Fund2.96
Bell Aliant Regional Communications Income Fund2.91
CI Financial Income Fund2.89
AltaGas Income Trust2.86
Algonquin Power Income Fund2.72
Westshore Terminals Income Fund2.69
Teranet Income Fund2.65
EPCOR Power LP2.63
ARC Energy Trust2.59
Fording Canadian Coal Trust2.57
Calloway REIT2.57
Bonavista Energy Trust2.54
H&R REIT2.53
Superior Plus Income Fund2.52
Baytex Energy Trust2.50
Crescent Point Energy Trust2.41
Canexus Income Fund2.40
NAL Oil & Gas Trust2.39
CML Healthcare Income Fund2.37
Macquarie Power & Infrastructure Income Fund2.36

Portfolio Breakdown: (unaudited)

Sector

% of Net Assets

Energy21.45
Utilities & infrastructure18.16
Power17.56
Industrial14.80
Real Estate Investment Trusts (REITs)13.50
Consumer7.91
Resource4.65
Equities1.97
Total Net Assets

100.00

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