Toronto, May 20, 2021 – Mackenzie Investments (“Mackenzie”) today announced its intention to wind-up Mackenzie Financial Capital Corporation (“Capitalcorp”). This will impact its suite of 34 corporate class funds (“the Funds”), resulting in the merging of each Fund into its corresponding trust fund equivalent, on a tax-deferred basis.
Mackenzie believes this is in the best interest of investors since Capitalcorp is in a taxable position. Changes to tax legislation and evolving market trends have eliminated many of the benefits that were previously available to corporate class funds.
Each of the Funds listed below will be merged into its equivalent trust fund, which has, or will have, a substantially similar investment objective and is, or will be, managed by the same portfolio management team. The mergers will take place on or about Friday, July 30, 2021.
Existing investors of the Funds as of May 7, 2021, will be mailed an investor notice on or about Thursday, May 27 and no action is required by investors. All costs and expenses associated with the mergers will be borne by Mackenzie.