Mackenzie Investments Announces Proposed Changes to Further Streamline Product Shelf
TORONTO, March 6, 2024 /CNW/ - As part of its ongoing efforts to streamline its product shelf, Mackenzie Investments ("Mackenzie") today announced one proposed fund merger and one proposed fund termination, subject to a vote by unitholders. Additionally, Mackenzie announced a portfolio management and investment strategy change to one mutual fund and ETF.
Merger and Termination
Mackenzie has proposed the following fund merger:
Existing Fund | To be merged into (Continuing Fund) |
Mackenzie Multi-Strategy Absolute Return Fund | Mackenzie Global Macro Fund |
Further, Mackenzie announced the proposed termination of the Mackenzie Credit Absolute Return Fund.
Investors of record on or about April 8, 2024 in the Mackenzie Multi-Strategy Absolute Return Fund and/or Mackenzie Credit Absolute Return Fund will receive a notice of meeting prior to a special meeting of investors to be held on or about May 31, 2024. If approved, both the merger and termination (including liquidation) of funds is expected to be executed on or about June 21, 2024.
Portfolio Management and Investment Strategy Change
Mackenzie also announced that it will make a change to the portfolio management of the Mackenzie Global Women's Leadership Fund ("the Fund") and Mackenzie Global Women's Leadership ETF ("the ETF") by replacing current sub-advisor Impax Asset Management with the Mackenzie Multi-Asset Strategies team ("the team"). Mackenzie will make changes to the investment strategy of the Fund and ETF to align with the team's investment philosophy.
This change is not subject to investor approval and will take place on or around April 3, 2024.
About Mackenzie Investments
Mackenzie Investments ("Mackenzie") is a leading investment management firm with $196.1 billion in assets under management as of January 31, 2024. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing. Mackenzie is a member of IGM Financial Inc. (TSX: IGM), one of Canada's premier financial services companies with approximately $241 billion in total assets under management as of January 31, 2024. For more information, visit mackenzieinvestments.com.
SOURCE Mackenzie Financial Corporation
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