Sceptre Investment Counsel agrees to transfer the management of two closed end funds to ROI Capital



    TORONTO, April 10 /CNW/ - Sceptre Investment Counsel Limited (Sceptre) is
pleased to announce it has entered into an arrangement to transfer the
management agreements for the Sceptre Income & Growth Trust (SZG.UN) and the
Sceptre Income & High Growth Trust (SZH.UN) to Return On Innovation Capital
Ltd. (ROI Capital). The transaction is subject to Regulatory and Unitholder
approval.
    Sceptre's award winning investment management teams will continue to
manage the assets as subadvisor to both Funds. ROI Capital intends to create
additional value for investors by asking Unitholders to approve an expanded
investment strategy, introduce a new series of units which pay tax efficient
distributions, merge both Funds and convert into an open ended mutual fund
with daily Net Asset Value (NAV) calculations. ROI Capital will also provide
additional sales and service to financial advisors.
    "We are delighted with our current relationship with ROI Capital and this
transaction is a natural extension of that relationship and a great boost to
our retail growth strategy," said Richard Knowles, President and Chief
Executive Officer of Sceptre. "Together, Sceptre and ROI Capital have the
investment expertise and product differentiation to compete as a strong player
in the increasingly concentrated retail fund marketplace," said John Sterling,
Chief Executive Officer of ROI Capital. Sceptre is a leading independent
Canadian money manager and ROI Capital is one of the fastest growing
intermediary mutual fund companies in Canada.
    Since inception, the Sceptre Income & Growth Trust and the Sceptre Income
& High Growth Trust have consistently paid their targeted monthly
distributions of 7% per annum. Last year the Sceptre Income & Growth Trust
also paid a special distribution of $0.50 per unit and increased the monthly
distribution to 7.5% per annum. The Sceptre Income & High Growth Trust
generated the third best one-year rate of return ending February 2007 for all
closed end funds that trade on the TSX.

    
    Returns ending February 28, 2007
    -------------------------------------------------------------------------
                                                           Since    Inception
                                       1 Year    2 Year  Inception      Date
    -------------------------------------------------------------------------
    Sceptre Income & Growth Trust        3.8%      9.1%     12.8%      April
                                                                        2004
    -------------------------------------------------------------------------
    Sceptre Income & High Growth Fund   22.7%     19.4%     15.3%   December
                                                                        2004
    -------------------------------------------------------------------------
    Source: TD Securities
    

    A Unitholder circular containing details of the proposed changes to the
Funds will be mailed to Unitholders of the Funds as soon as possible but
expected to be no later than May 10, 2007.

    About Sceptre Investment Counsel
    --------------------------------
    Sceptre Investment Counsel Limited is a leading Canadian independent
investment management firm with assets under supervision of approximately
$8.8 billion. The Company's Pension and Institutional Fund group manages
investment portfolios for a wide range of clients, including corporations,
governments, hospitals, charitable foundations, endowments, universities and
unions. Through its Wealth Management group, Sceptre provides discretionary
funds and segregated account management for high net-worth individuals and
offers a family of seven mutual funds. Sceptre employs approximately 60 people
in its offices in Toronto, Waterloo, Montreal and Vancouver. Sceptre's common
shares trade on the Toronto Stock Exchange, under the symbol SZ.

    About ROI Capital Ltd.
    ----------------------
    ROI Capital Ltd. manages the ROI Fund, ROI Sceptre Canadian Pension Fund,
ROI Global Pension Fund, and ROI High Yield Private Placement Fund. The ROI
Fund is the fastest growing and one of the top performing tax credit funds in
Canada. ROI Capital's mutual funds invest like pension funds. The Funds invest
in multiple asset classes, including private placements loans that are
uncorrelated to the public markets. The Funds have partnered with three
leading pension plan managers: Sceptre Investment Counsel, Wentworth, Hauser,
& Violich and Johnston Asset Management. This combination of private and
public investments has previously only been available in pension plans. ROI
Capital is the first to bring this strong investment combination to the retail
market.





For further information:

For further information: Richard L. Knowles, President and Chief
Executive Officer, Sceptre Investment Counsel Limited, (416) 866-2380,
www.sceptre.ca; Wilfred Vos, Senior Vice-President, ROI Capital Limited, (416)
361-6162 ext 118, www.roicapital.ca

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