Streamlining fund lineup, enhancing investment objectives | Mackenzie Investments

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Streamlining fund lineup, enhancing investment objectives


Mackenzie is introducing and proposing enhancements that will make our product shelf simpler to understand and easier to navigate. These include:

Streamlining our mutual fund lineup

To simplify our mutual fund shelf, Mackenzie proposes to merge 13 funds. These mergers would create a simpler and more straightforward lineup for advisors and investors. 

Of the 13 Mergers, 10 are proposals conditional upon investor and regulatory approval. Full details about the proposed Mergers will be outlined in a Management Information Circular and Proxy that will be made available to investors of record in June. Special meetings of investors to consider and vote on the proposed Mergers are scheduled for June 22, 2018.

If approved, the applicable terminating funds will no longer be available for new purchases, effective July 4, 2018. The effective date of these Mergers is expected to be on or about July 6, 2018. 

The remaining three fund mergers (see table below) were reviewed and approved by the Independent Review Committee (IRC) of Mackenzie Funds. These Mergers received IRC approval on March 27, 2018, and investors in the funds will be provided 60 days' written notice before the mergers are implemented on or about July 6, 2018.

Existing pre-authorized chequing plans (PACs) that were established to purchase one or more terminating funds subject to a Merger will continue following the effective date of each Merger, substituting each applicable continuing fund in place of the terminated fund(s) subject to the PAC.

Also, automated purchases under the Mackenzie One-Step Dollar Cost Averaging Service (One-Step DCA) will continue following the Mergers and will also substitute the applicable continuing fund(s) in place of the terminated fund(s) subject to the One-Step DCA. 

Legend:Merger = Merger Objective change = Objective Change

Approved Notice Mergers

Asset Class Terminating Fund Action Continuing Fund
Merger
Canadian Money Market Mackenzie Private Canadian Money Market Pool Merger Mackenzie Canadian Money Market Fund
Balanced Mackenzie Canadian All Cap Balanced Fund Merger Mackenzie Canadian Growth Balanced Fund
Canadian Equity Mackenzie Canadian Large Cap Growth Fund Merger Mackenzie Canadian Growth Fund

Vote Required on Proposed Mergers

Asset Class Terminating Fund Action Continuing Fund
Merger
Canadian Money Market Mackenzie Canadian Money Market Class Merger Mackenzie Canadian Money Market Fund
Balanced Mackenzie Canadian All Cap Balanced Class Merger Mackenzie Canadian Growth Balanced Class *
Canadian Equity Mackenzie Canadian All Cap Dividend Growth Fund Merger Mackenzie Canadian Growth Fund
US Equity Mackenzie US Low Volatility Fund Merger Mackenzie High Diversification US Equity Fund
Mackenzie US Large Cap Class Merger Mackenzie US Growth Class *
International Equity Mackenzie Ivy International Equity Fund Merger Mackenzie Ivy International Fund
Global Equity Mackenzie Global Low Volatility Fund Merger Mackenzie High Diversification Global Equity Fund
Mackenzie Cundill Recovery Fund Merger Mackenzie Cundill Value Fund
Mackenzie Cundill Recovery Class Merger Mackenzie Cundill Value Class *
Emerging Markets Mackenzie Emerging Markets Opportunities Class Merger Mackenzie Emerging Markets Class *

* Investor approval is required for both the terminating and continuing funds.

Enhancements to investment objectives

Subject to investor approval, Mackenzie Income Fund and Mackenzie Canadian Short Term Income Fund will have their investment objectives enhanced. The investor meetings to vote on the proposed investment objective changes will be held on June 22, 2018, at the Mackenzie Investments office in Toronto.

Full details about the proposed investment objective enhancements will be outlined in a Management Information Circular and Proxy to be made available to investors of record on April 23, 2018. The effective date for the investment objective changes, if approved, is expected to be on or about July 6, 2018.

Proposed Objective Changes
Objective change Mackenzie Income Fund
Objective change

Mackenzie Canadian Short Term Income Fund

 

Additional Resources

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.