The Balanced Fund seeks to generate growth of capital and current income with relatively low risk by primarily investing in common stocks, investment-grade bonds, and mortgage-backed securities. The fund aims to hold at least 25% of its assets in bonds and at least 25% in common stocks. It may allocate up to 25% of its assets to a single industry. The fund's investment objectives and strategies can be changed by the board and it may take temporary defensive positions during adverse market conditions.

1. K E N T G A R D N E R • K R G a r d n e r @ a o l . c o m • 8 0 2 - 2 4 4 - 5 2 5 8
4 For information and assistance call your Financial Advisor or Investor Services at 1-800-282-FUND (3863)
Prospectus
The Balanced Fund primarily
invests in common stocks and invest-
ment-grade bonds
with at least 25% of
its assets in bonds
and at least 25% of
its assets in com-
mon stock. When
determining this
percentage, convertible bonds and/or
preferred stocks are considered com-
mon stocks, unless these securities are
held primarily for income. Sentinel will
divide the Fund’s assets among stocks
and bonds based on whether it believes
stocks or bonds offer a better value at
the time. More bonds normally
enhance price stability, and more stocks
usually enhance growth potential. Up
to 25% of the Fund’s assets may be
invested in securities within a single
industry. The Fund may invest without
limitation in foreign securities,
although only where they are trading in
the U.S. or Canada and only where
trading is denominated in U.S. or
Canadian dollars.
Sentinel’s philosophy for the equity
portion of the portfolio is based on a
long-term view and emphasizes diversi-
fication, high quality, valuation disci-
pline and below-average risk. Sentinel
looks for securities of superior compa-
nies with a positive multi-year outlook
offered at attractive valuation levels
based on a number of metrics, includ-
ing value relative to its history, peers
and/or market over time, with attrac-
tive risk profiles and long-term adjust-
ed returns. Although the Fund may
invest in any economic sector, at times
it may emphasize one or more particu-
lar sectors.
The bond portion of the Fund may
invest without limitation in bonds in
the first through the fourth highest cat-
egory of Moody’s (Aaa to Baa) and
Standard and Poor’s (A to BBB). It may
also purchase bonds in the lowest rat-
ing categories (C for Moody’s and D for
Standard and Poor’s) and comparable
unrated securities. However, it will only
purchase securities rated B3 or lower
by Moody’s or lower than B- by
Standard and Poor’s if Sentinel believes
the quality of the bonds is higher than
indicated by the rating. No more than
20% of the Fund’s total assets may be
invested in lower-quality bonds (e.g.,
bonds rated below Baa by Moody’s or
BBB by Standard & Poor’s).
The Fund may make unlimited
investments in mortgage-backed U.S.
government securities, including pass-
through certificates guaranteed by the
Government National Mortgage
Association (“GNMA”). Each GNMA
certificate is backed by a pool of mort-
gage loans insured by the Federal
Housing Administration and/or the
Veterans Administration, and provides
for the payment of minimum fixed
monthly installments of principal and
interest. Timely repayment of principal
and payment of interest is guaranteed
by the full faith and credit of the U.S.
government. The Fund may invest in
mortgage-backed securities guaranteed
What Are Each Fund’s Investment Objectives
And Principal Investment Strategies?
The Balanced Fund
seeks a combination
of growth of capital
and current income,
with relatively low
risk and relatively low
fluctuations in value.
Each Fund has investment objective(s) and
principal investment strategies. Investment
objective(s) are fundamental policies,
which means they may only be changed by
a majority vote of the outstanding shares
of that Fund. We cannot guarantee that
these objective(s) will be achieved. In
addition, if Sentinel or a Fund’s subadvisor,
if any, believes it is necessary under
adverse conditions to take a temporary
defensive position, each Fund other than
the Government Securities, Short Maturity
Government and U.S. Treasury Money
Market Funds may depart significantly or
completely from its principal investment
strategies. All of the Funds are “diversified”
funds as defined in the Investment
Company Act of 1940, as amended, except
the Growth Leaders Fund.
You can find additional information
about the securities and investment
techniques used by the Funds, including
a description of each Fund’s other
fundamental investment policies, in the
Funds’ Statement of Additional Information,
which is incorporated by reference into
(is legally made a part of) this Prospectus.
All other investment strategies and policies
described in the Prospectus and/or
Statement of Additional Information are
non-fundamental policies, which means
they may be changed by the Fund’s Board.
You can get a free copy of the Statement
of Additional Information by calling
1-800-282-FUND (3863), or by writing to
Sentinel Administrative Services Company
at P.O. Box 1499,
Montpelier, VT 05601-1499.
Sentinel Government
Securities
Inception: 1986 Total Return (%
6.9
2.9 2.3
10.6
-3.50.8
9.3 9.1
12.6
4.7
-30
-20
-10
0
10
20
30
40
05040302010099989796
Sentinel Growth Leaders
Inception: October 31, 19991
Total Return (%
-30
-20
-10
0
10
20
30
40
050403020100
2.5
20.6
4.4
-18.3-17.4
7.0
During the period(s) shown in the above bar
chart, the highest return for a quarter for the
Growth Leaders Fund was 14.20% (quarter
ended December, 2001) and the lowest return
for a quarter was -18.10% (quarter ended
September, 2001).
The following bar charts and
tables provide indications of the
risks of investing in each Fund
by showing changes in the Funds’
performance from year to year
and by showing how the Funds’
average annual returns for 1, 5
and 10 years (or since inception)
compare with those of a broad
measure of market performance.
The bar charts show changes in
each Fund’s performance for
Class A shares for each calendar
year over a ten-year period, or for
a shorter period for those Funds
that have been in existence for
less than ten years.
The performance of the
Capital Opportunity Fund prior to
September 26, 2005 is based on the
performance of its predecessor
Growth Index Fund, which sought
to match before expenses the
performance of the S&P 500/BARRA
Growth Index. The performance
of the Capital Growth and
Growth Leaders Funds prior to
March 1, 2006 is based on the
performance of their predecessors,
the Bramwell Growth Fund and
Bramwell Focus Fund, respectively,
which had different expenses but
substantially similar investment risks.
Sales charges are not reflected
in the bar charts. If sales charges
were reflected, returns would be
less than those shown. How each
Fund performed in the past is not
necessarily an indication of how
that Fund will perform in the
future.
Sentinel Balanced
Inception: 1938 Total Return (%
-30
-20
-10
0
10
20
30
40
05040302010099989796
12.1
20.6
11.9
0.5
8.6
-2.9 -9.7
22.1
7.7
5.4
Sentinel Capital Growth
Inception: August 1, 19941
Total Return (%
-30
-20
-10
0
10
20
30
40
05040302010099989796
12.8
33.734.5
25.7
-2.4-16.2-20.2
20.4
4.4 5.0
During the period(s) shown in the above bar
chart, the highest return for a quarter for the
Balanced Fund was 9.90% (quarter ended
December, 1998) and the lowest return for a
quarter was -9.44% (quarter ended
September, 2002).
During the period(s) shown in the above bar
chart, the highest return for a quarter for the
Growth Leaders Fund was 22.70% (quarter ended
December 1998) and the lowest return for a
quarter was -16.26% (quarter ended
September, 2001).
How Has Each Fund Performed?
During the period(s) shown in the above bar
chart, the highest return for a quarter for the
Government Securities Fund was 4.84%
quarter ended June, 1998) and the lowest
return for a quarter was -1.96% (quarter
ended March, 1999).
24 For information and assistance call your Financial Advisor or Investor Services at 1-800-282-FUND (3863)
Prospectus
54 For information and assistance call your Financial Advisor or Investor Services at 1-800-282-FUND (3863)
Prospectus
Income From Investment Operations Less Distributions_____________________________________ _____________________________________
Net gains or
losses on
tessateNsdnediviDseitirucesteNtessateNlacsiF
year value, investment (both realized Total from (from net Distributions value,
Fund/ (period beginning income and investment investment (from realized Total end of
Share Class ended) of period (loss) unrealized) operations income) gains) distributions period
Balanced 11/30/01 $18.67 $0.46 $(0.47) $(0.01) $0.50 $1.59 $2.09 $16.57
Class A 11/30/02 16.57 0.32 (1.50) (1.18) 0.33 0.96 1.29 14.10
11/30/03 14.10 0.24 1.81 2.05 0.25 - 0.25 15.90
11/30/04 15.90 0.28 1.29 1.57 0.28 0.36 0.64 16.83
11/30/05 16.83 0.32 0.86 1.18 0.34 0.82 1.16 16.85______________________________________________________________________________________________________________________________
B alanced 11/30/01 $18.70 $0.31 $(0.45) $(0.14) $0.36 $1.59 $1.95 $16.61
Class B 11/30/02 16.61 0.20 (1.50) (1.30) 0.20 0.96 1.16 14.15
11/30/03 14.15 0.11 1.82 1.93 0.13 - 0.13 15.95
11/30/04 15.95 0.15 1.29 1.44 0.14 0.36 0.50 16.89
11/30/05 16.89 0.18 0.86 1.04 0.20 0.82 1.02 16.91______________________________________________________________________________________________________________________________
B alanced 11/30/01 $18.68 $0.31 $(0.48) $(0.17) $0.34 $1.59 $1.93 $16.58
Class C 11/30/02 16.58 0.18 (1.49) (1.31) 0.20 0.96 1.16 14.11
11/30/03 14.11 0.08 1.82 1.90 0.09 - 0.09 15.92
11/30/04 15.92 0.13 1.29 1.42 0.14 0.36 0.50 16.84
11/30/05 16.84 0.16 0.87 1.03 0.19 0.82 1.01 16.86______________________________________________________________________________________________________________________________
Balanced 11/30/01 $18.63 $0.23 $(0.48) $(0.25) $0.28 $1.59 $1.87 $16.51
Class D 11/30/02 16.51 0.15 (1.51) (1.36) 0.14 0.96 1.10 14.05
11/30/03 14.05 0.07 1.79 1.86 0.07 - 0.07 15.84
11/30/04 15.84 0.22 1.28 1.50 0.18 0.36 0.54 16.80
11/30/05 16.80 0.26 0.86 1.12 0.28 0.82 1.10 16.82______________________________________________________________________________________________________________________________
Capital 6/30/01 $30.48 $(0.10) $(5.16) $(5.26) $ - $2.22 $2.22 $23.00
Growth 6/30/02 23.00 (0.16) (2.53) (2.69) - 1.61 1.61 18.70
Class A 6/30/03 18.70 (0.15) (1.29) (1.44) - - - 17.26
6/30/04 17.26 (0.17) 2.34 2.17 - - - 19.43
6/30/05 19.43 (0.13) 0.49 0.36 - 0.37 0.37 19.42
Six Months
Ended 12/31/05
(Unaudited) 19.42 (0.07) 1.47 1.40 - 1.72 1.72 19.10______________________________________________________________________________________________________________________________
Capital Markets 03/10/03-
Income 11/30/03(A)
$10.00 $0.32 $1.23 $1.55 $0.30 $- $0.30 $11.25
Class A 11/30/04 11.25 0.40 0.65 1.05 0.48 0.00*** 0.48 11.82
11/30/05 11.82 0.41 (0.15) 0.26 0.43 0.23 0.66 11.42______________________________________________________________________________________________________________________________
Capital Markets 03/10/03-
Income 11/30/03(A)
$10.00 $0.25 $1.25 $1.50 $0.26 $- $0.26 $11.24
Class B 11/30/04 11.24 0.31 0.64 0.95 0.39 0.00*** 0.39 11.80
11/30/05 11.80 0.31 (0.15) 0.16 0.34 0.23 0.57 11.39______________________________________________________________________________________________________________________________
Capital Markets 03/10/03-
Income 11/30/03(A)
$10.00 $0.27 $1.25 $1.52 $0.27 $- $0.27 $11.25
Class C 11/30/04 11.25 0.32 0.63 0.95 0.40 0.00*** 0.40 11.80
11/30/05 11.80 0.33 (0.14) 0.19 0.37 0.23 0.60 11.39______________________________________________________________________________________________________________________________
Financial Highlights
The financial highlights table is intended to help you understand each Fund’s financial performance for the past five years,
or for the other applicable period of the Fund’s operations. Certain information reflects financial results for a single Fund
share. The total returns in the table represent the rate that an investor would have earned on an investment in each Fund,
assuming reinvestment of all dividends and distributions. Per share data is calculated utilizing average daily shares
outstanding. Financial highlights for the Capital Opportunity Fund prior to September 26, 2005 are based on the historical
financial highlights of the predecessor Growth Index Fund. Financial highlights for the Capital Growth and Growth Leaders
Sentinel Funds
P R O S P E C T U S
Prospectus dated March 30, 2006
Sentinel Balanced Fund
Sentinel Capital Growth Fund
Sentinel Capital Markets Income Fund
Sentinel Capital Opportunity Fund
Sentinel Common Stock Fund
Sentinel Government Securities Fund
Sentinel Growth Leaders Fund
Sentinel High Yield Bond Fund
Sentinel International Equity Fund
Sentinel Mid Cap Growth Fund
Sentinel Short Maturity Government Fund
Sentinel Small Company Fund
Sentinel U.S. Treasury Money Market Fund
This prospectus contains information you should know before investing,
including information about risks.
Please read it before you invest and keep it for future reference.
The Securities and Exchange Commission (“SEC”) has not approved or
disapproved these securities or determined if this prospectus is accurate
or complete. Any representation to the contrary is a criminal offense.
Sentinel Funds • National Life Drive • Montpelier, VT 05604