Mackenzie Investments is making its product shelf easier for investors to navigate by merging two mutual funds. The following fund mergers will take place on or about February 8, 2019, subject to investor approval:
| Terminating Fund |
|
Continuing Fund |
| Mackenzie Canadian All Cap Dividend Fund |
→ |
Mackenzie Canadian Large Cap Dividend Fund |
| Mackenzie Canadian All Cap Dividend Class |
→ |
Mackenzie Canadian Large Cap Dividend Class |
Below are important details and dates to help you prepare for the fund mergers:
| Event |
|
Date |
| Last day for buy and sell wire orders |
|
Tuesday, February 5, 4:00 PM (EST) |
| Distribution allocations (if required) |
|
Thursday, February 7 |
| Last day for ALL direct trades and switch/transfer wire orders |
|
Friday, February 8, 4:00 PM (EST) |
| Fund merger |
|
Friday, February 8 |
Merger details will be communicated through the Transaction Reconciliation File (TS):
| Field Description |
|
Value |
| Product Event Indicator |
|
"M" – merger |
Other important merger information:
- Dealer and advisor reports of the accounts affected by the merger are available upon request.
- The merger will be processed as exchange transactions from the terminating series to the continuing series.
- All systematic transactions (SWP, RIF, LIF, LRIF payments and PACs) on client held accounts will be rolled over to the continuing fund at the end of business on February 8 as part of the merger process.
- Any bank assignments will be replaced on the continuing funds and sent to their respective bank.
- Outstanding certificates for the terminating funds will be cancelled and held as non-certificated units. Letters will be sent to affected investors and advisors.
- Investors will receive a confirmation of these transactions following the merger. Investors in non-registered accounts will also receive a letter at a later date to explain the tax impact to their accounts.
Further fund-related details for the merger can be found in the document below:
Additional details can be obtained from the FD file available through Fundserv on February 7 with an effective date of February 11.
Investment objective change
Subject to investor approval, the investment objective of Mackenzie Canadian Large Cap Dividend Class will change to allow the Fund to invest substantially all of its assets in mutual fund securities, in addition to (or as an alternative to) investing directly in securities.
For further information please contact your Dealer Relations Account Manager directly. You can also call us at 1-800-268-7119 or send an email to drelations@mackenzieinvestments.com.
Thank you for your continued support of Mackenzie Investments.
The Dealer Relations Team
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