Mackenzie is introducing and proposing enhancements that will make our product shelf simpler to understand and easier to navigate.
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
= Objective Change
Approved Notice Mergers
Asset Class | Terminating Fund | Action | Continuing Fund |
Merger | |||
Canadian Money Market | Mackenzie Private Canadian Money Market Pool | Mackenzie Canadian Money Market Fund | |
Balanced | Mackenzie Canadian All Cap Balanced Fund | Mackenzie Canadian Growth Balanced Fund | |
Canadian Equity | Mackenzie Canadian Large Cap Growth Fund | 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 | Mackenzie Canadian Money Market Fund | |
Balanced | Mackenzie Canadian All Cap Balanced Class | Mackenzie Canadian Growth Balanced Class * | |
Canadian Equity | Mackenzie Canadian All Cap Dividend Growth Fund | Mackenzie Canadian Growth Fund | |
US Equity | Mackenzie US Low Volatility Fund | Mackenzie High Diversification US Equity Fund | |
Mackenzie US Large Cap Class | Mackenzie US Growth Class * | ||
International Equity | Mackenzie Ivy International Equity Fund | Mackenzie Ivy International Fund | |
Global Equity | Mackenzie Global Low Volatility Fund | Mackenzie High Diversification Global Equity Fund | |
Mackenzie Cundill Recovery Fund | Mackenzie Cundill Value Fund | ||
Mackenzie Cundill Recovery Class | Mackenzie Cundill Value Class * | ||
Emerging Markets | Mackenzie Emerging Markets Opportunities Class | 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 | ||
Mackenzie Income Fund | ||
Mackenzie Canadian Short Term Income Fund |