Toronto, February 12, 2021 – Mackenzie Investments (“Mackenzie”) today announced that it is postponing the proposed reorganization of Mackenzie Global Resource Fund (“the Fund”) with Canada Life Global Resource Fund, a mutual fund managed by its affiliate Canada Life Investment Management Ltd. (“CLIML”) and a subsidiary of The Canada Life Assurance Company (“Canada Life’).
Mackenzie has concluded that it would be prudent and in the best interests of the Fund to defer the investor meeting and proposed reorganization to July 2021.
The Fund is one of eight impacted Mackenzie funds offered under both the Mackenzie and the Mackenzie Canada Life prospectuses that will, pending investor and regulatory approval, be reorganized to transition investors who hold Canada Life series units to corresponding and substantially similar CLIML managed funds. This decision follows the August 2020 announcement of Canada Life’s intention to create its own investment fund management company (CLIML).
The proposed reorganizations of the other seven funds are not impacted.