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Rating:Sentinel Crows About a New Subadvisor Not Rated 5.0 Email Routing List Email & Route  Print Print
Monday, June 20, 2011

Sentinel Crows About a New Subadvisor

Reported by Neil Anderson, Managing Editor

Sentinel Investments [see profile] just hired a new subadvisor for the three-star, $183.2-million Sentinel Mid Cap Value Fund [see Morningstar]. On Friday the Montpelier, Vermont-based mutual fund firm revealed that Scituate, Massachusetts-based Crow Point will start subadvising the fund on an interim basis starting on August 17.

Sentinel president and CEO Christian Thwaites confirmed that Crow would replace Steinberg Asset Management, which currently subadvises the fund. The MFWire could not immediately the fund's PM, Steinberg managing partner Michael Steinberg, for comment.

"We really like their approach ... It more fits in with our style," Thwaites said of Crow. "This was a mid-cap value fund that had unfortunately style-drifted over to the growth category."

The interim period will last up to five months. Meanwhile, shareholders will vote on whether or not to hire Crow on a more permanent basis.

Crow manages more than $1 billion in value strategies for institutional clients. Its investment team includes Peter DeCaprio and Tim O'Brien.

Company Press Release

Montpelier, VT – June 17, 2011 – Sentinel Investments has announced that it will be entering into an interim agreement to have Crow Point Partners, LLC (“Crow Point”), subadvise the Sentinel Mid Cap Value Fund (SYVAX, SYCVX and SYVIX) (the “Fund”).

“At Sentinel, we put performance front and center. We have found in Crow Point a firm exercising original thought and dedicated to smart investing,” said Christian Thwaites, president and CEO of Sentinel. “Crow Point’s investment knowledge and risk management makes them a great addition to our team.”

Headquartered in Scituate, MA, Crow Point manages over $1 billion in value-focused portfolios for institutional clients worldwide. The investment team of Tim O’Brien and Peter DeCaprio averages over 20 years of investment experience. Crow Point’s investment strategy focuses on identifying themes it believes will drive long-term investment returns, then selecting attractively-priced stocks closely tied to those themes. Crow Point’s stock screening process focuses on dividends and traditional valuation measures such as price/earnings to growth, free cash flow yields, and enterprise value to cash flow.

Sentinel will enter into an interim subadvisory agreement with Crow Point to subadvise the Fund effective August 17, 2011, for a period lasting up to 150 days. Crow Point’s appointment as subadvisor to the Fund requires shareholder approval. Shareholders will vote at a special shareholder meeting tentatively scheduled for late summer. The proxy materials for that meeting are expected to be available in July and will contain additional information regarding the subadvisory agreement and Crow Point. Further updates and proxy materials will be available online at. www.sentinelinvestments.com/2011proxy.

Effective with shareholder approval of Crow Point as subadvisor of the Fund, the Fund’s Board of Directors has approved an updated investment strategy that includes a focus on selecting income-generating stocks when consistent with the Fund’s investment objective. The Fund will continue to seek its investment objective of long-term capital appreciation.

To learn more about the Sentinel Mid Cap Value Fund, please visit www.sentinelinvestments.com.

About Sentinel Investments

For over 75 years, Sentinel has offered the sound prudently managed strategies that can be the foundation of any portfolio.

Sentinel offers mutual funds, retirement plan solutions and institutional investment management. Our managers are united by the common belief that well-defined, repeatable investment processes grounded in fundamental research have the potential to deliver solid, consistent results over time. Each discipline has its own dedicated research team, adding an additional level of market insight and objective perspective.

Headquartered in Montpelier VT, Sentinel Investments’ assets under management totaled more than $25.8 billion as of 3/31/11. Learn more at www.sentinelinvestments.com.

Consider a fund’s objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information and is available from your financial advisor or www.sentinelinvestments.com. Please read it carefully before you invest.

Sentinel Investments is the unifying brand name for Sentinel Financial Services Co., Sentinel Asset Management, Inc., and Sentinel Administrative Services, Inc. Sentinel Funds are distributed by Sentinel Financial Services Company, One National Life Drive, Montpelier, VT 05604 | 800.282.3863 | www.sentinelinvestments.com 

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