“We are a link in a chain and making a contribution that goes beyond our own life.” — ATUL GAWANDE
The history of the Sentinel Group Funds dates back to 1934 when the company was known as Group Securities. The initial offering was on January 12, 1934 at $1.10 per share.
National Life became part of the chain in 1976 when it purchased Group Securities, Inc., and introduced the Sentinel brand.
Now the chain has passed on to Touchstone Investments, a subsidiary of Western & Southern Financial Group.
The transfer took place at 4 p.m. on October 27, thanks to a lot of effort over many months by many National Life and Sentinel employees.
The transfer appears to have been seamless for Sentinel shareholders, some of whom had been with Sentinel and before that Group Securities for decades.
John Landy reports that the oldest account on Sentinel’s records was a Common Stock Fund account that dates back to 1939. It closed in 2013.
The oldest “open” account was a Balanced Fund investor. The account had dated to 1952 and was Group Securities as well.
John says that overall there were 1,218 accounts that had been established prior to 1970 and that 78 accounts of those had been opened between 1939 and 1959.
“Definitely a group of long-term investors,” says John.
And that’s what Sentinel had touted, that it took a long-term view.
Now the chain is in the hands of Touchstone – which will add its own links to the long and storied history of funds that date back to 1934.
But all of the employees of Sentinel were links in that chain, making a contribution that will stretch forever.