On March 5, Mackenzie Investments announced proposed changes to make its product shelf easier to navigate, and investors have now voted to approve these changes.
On or around June 4, 2021, Mackenzie Global Credit Opportunities Fund will merge into Mackenzie North American Corporate Bond Fund.
Below are important details and dates to help you prepare for the fund merger:
Last day for buy and sell wire orders
Tuesday, June 1, 4 p.m. (ET)
Distribution allocations (as required)
Thursday, June 3
Last day for ALL direct trades and switch/transfer wire orders
Friday, June 4, 4 p.m. (ET)
Friday, June 4
Merger details will be communicated through the Transaction Reconciliation File (TS):
Fund Merger Switch-out
“M” – merger
Fund Merger Switch-in
“M” – merger
Other important merger information:
The merger will be a taxable event. Investors who hold their units in a non-registered account may realize capital gains as a result.
Dealer and advisor reports of the accounts affected by the merger are available upon request.
The merger will be processed as exchange transactions from the terminating series to the continuing series.
All systematic transactions (such as SWP, RIF/LIF/LRIF payments and PACs) on client held accounts will be rolled over to the continuing fund at the end of business on June 4 as part of the merger process.
Any bank assignments will be replaced on the continuing fund and sent to their respective bank.
Outstanding certificates for the terminating fund will be cancelled and held as non-certificated units. Letters will be sent to affected investors and advisors.
Investors in client held accounts will receive a confirmation of these transactions following the merger.
Further fund-related details for the merger can be found in the document below:
Additional details can be obtained from the FD file, available through Fundserv on June 3 with an effective date of June 4.
Fund name change and investment objective change
On or around June 4, the investment objective of Mackenzie USD Global Tactical Bond Fund will change to align with Mackenzie Unconstrained Fixed Income Fund.
At the same time, the fund’s name will change to Mackenzie USD Unconstrained Fixed Income Fund and the management and/or administration fees on certain series will be lowered to align with the fees of Mackenzie Unconstrained Fixed Income Fund.
Further fund-related details for these changes can be found in the document below:
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Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.