Introducing the
Mackenzie Northleaf Private Credit Interval Fund
On January 31, 2022, Mackenzie Investments will add another innovative investment solution to its product line-up with the launch of the Mackenzie Northleaf Private Credit Interval Fund.
The first interval in Canada, this fund seeks to achieve attractive, income-oriented and risk-adjusted returns, primarily through exposure to global private credit instruments and public credit instruments and securities. It provides retail investors with access to private credit that’s generally only available to institutional and high net worth investors.
About the fund
Below you’ll find more detailed information about the fund and how it operates.
Investment minimums
Initial investment: $5,000
Subsequent purchases: $500
Agreements
A dealer agreement must be signed prior to purchases
Fund pricing
Monthly (for transactions)
Valuation date is the last business day of the month
Purchases
Processed monthly as of last business day of the month (subscription date)
Transaction cut-off date for purchases: 3 business days prior to the last business day of each month. Purchases received after the transaction cut-off will be processed for the next available trade date. Refer to the schedule on the Mackenzie Investments website for more detail.
Price date: 7 business days after the last business day of each month
Settlement date: 2 business days after the price date
Requests must be made with dollar amounts; units or percent will receive an error code
Redemptions (known as offers to repurchase)
Processed quarterly as of last business day of the quarter (repurchase pricing date)
Notice of repurchase offer: the day unitholders are notified of a repurchase offer for a specific repurchase pricing date
Cut-off date for redemptions (repurchase request deadline date): 14 days prior to the last business day of each quarter, with receipt of an in-good-order Repurchase Tender Form. Redemptions received after this cut-off will be processed for the next available redemption date. The form and schedule will be made available on the Mackenzie Investments website.
Price date: 7 business days after the last business day of the quarter
Settlement date (repurchase payment deadline): 2 business days after the price date
Redemptions can be made with dollar amounts or units
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
Only offered through IIROC-registered dealers
Investors must be Canadian residents for tax purposes
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 28 with an effective date of January 31, 2022.
For further information on the Mackenzie Northleaf Private Credit Interval 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.