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On January 22, 2021, Mackenzie Investments will expand its line-up of alternative products with the launch of the Mackenzie Northleaf Private Credit Fund.
This fund is a privately offered pooled fund (available under Offering Memorandum) that seeks to achieve attractive, income-oriented and risk-adjusted returns, primarily through exposure to global private credit instruments and public credit instruments and securities.
About the fund
Below you’ll find more detailed information about the fund and how it operates.
Investment minimums
- Discretionary advisors: no investment minimum
- All other advisors: initial investment of $25,000 for accredited individual investors or $150,000 for corporate accounts; $5,000 minimum for subsequent purchases
Agreements
- Subscription agreement is required for each purchase
- Must include client signature for non-discretionary advisors
- Will be available on the Mackenzie Investments website as of Jan 22, 2021
Fund pricing
- Monthly (valuation date is the last business day of the month)
Purchases
- Processed monthly as of last business day of the month
- Trade date: 7 business days after the last business day of each month
- Settlement date: 2 business days after the trade date
- Cut-off date for purchases: 3 business days prior to the last business day of each month. Purchases received after the cut-off will be processed for the next available trade date. Refer to the schedule on the Mackenzie Investments website for more detail (available January 22, 2021)
- Requests must be made with dollar amounts; units or percent will receive an error code
Redemptions
- Processed quarterly as of last business day of the quarter
- Trade date: 7 business days after the last business day of the quarter
- Settlement date: 2 business days after the trade date
- Cut-off date for redemptions: 30 days prior to the last business day of each quarter. Redemptions received after this cut-off will be processed for the next available redemption date. Refer to the schedule on the Mackenzie Investments website for more detail (available January 22, 2021)
- Redemptions of units made within one year of purchase are subject to a 2% early redemption fee
- Redemptions can be made with dollar amounts, units or percent
- Redemptions must not exceed 5% of the fund market value. This will apply to full and partial redemptions
Other transactions
- Switches and systematic plans are not offered
- Transfers are generally not permitted
Restrictions
- Cannot be held in a registered account
- Investors must be Canadian residents for tax purposes
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Details to assist in the fund set-up can be found here.
Additional information can be obtained from the FD file available through Fundserv, available on January 20 with an effective date of January 22, 2021.
For further information on the Mackenzie Northleaf Private Credit Fund, please contact your Dealer Relations Account Manager directly. You can also call us at 1-800-268-7119 or send an email to drelations@mackenzieinvestments.com.
Thank you for your continued support of Mackenzie Investments.
The Dealer Relations Team
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