On July 30, 2021, we will wind up Mackenzie Financial Capital Corporation, including its suite of 34 corporate class funds. Each terminating corporate class fund will be merged into its corresponding trust fund equivalent on a tax deferred basis. Where no corresponding trust fund currently exists, one will be launched.
This decision reflects changing market and regulatory environments, which have reduced the tax-efficiency benefits of corporate class structures in Canada. Mackenzie’s corporate class is in a taxable position and is expected to remain so. As such, we believe that winding-up the corporation is in the best interests of our investors.
For more details of the wind-up and what it means to you and your clients, please see below for a list of impacted funds and helpful resources including a detailed Q&A (coming soon) document for advisors.
Same portfolio management team and expertise
Fees the same or lower
No action required for investors
Substantially similar investment objectives
The following lists the corporate class funds that are being closed.
* Closed to new purchases (hard capped classes)
**New Funds that will be launched in July to enable the Corporate Class merger to be executed.
For more information on the closure of our corporate class structure, contact your Mackenzie Sales representative.
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