Toronto-based Mackenzie Financial Corp. is removing the restriction on hedging foreign currency for Mackenzie U.S. Mid Cap Growth Class.
“Removing this restriction provides the portfolio manager of the fund with the flexibility to actively manage the foreign currency,” states the announcement released Tuesday.
The change, which will be effective on or about March 23, will also bring the fund in line with the rest of Mackenzie’s product lineup, in which there are no restrictions on hedging foreign currency.
The fund’s prospectus will be amended to reflect this change in strategy.
Mackenzie U.S. Mid Cap Growth Class is also distributed by London, Ont.-based Quadrus Investment Services Ltd. and Montreal-based Laurentian Bank of Canada.