Mackenzie Investments announced May 20 its intention to wind-up Mackenzie Financial Capital Corporation (Capitalcorp). This will impact its suite of 34 corporate class funds, resulting in the merging of each fund into its corresponding trust fund equivalent, on a tax-deferred basis, says the company.
“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,” said the company in a statement.
Each of the funds listed below will be merged into its equivalent trust fund, which has, or will have, a substantially similar investment objective. The mergers will take place on or about Friday, July 30, 2021. No action is required by investors.
Mackenzie also announced its intention of merging Mackenzie Global Small-Mid Cap Equity Fund into Mackenzie Global Small-Mid Cap Fund, on a tax-deferred basis. The merger will take place no later than September 30, 2021, says the company.
