(October 17 – 18:30 ET) – Mackenzie Financial Corp. has filed a preliminary prospectus for a new mutual fund structure offering 33 separate classes of shares and 4 separate series of each class.
Mackenzie’s prospectus says the Capitalcorp structure has been primarily designed for taxable investors because it allows taxable investors to switch between funds without incurring a tax liability.
The 33 funds replicated in the new structure will offer Series A Shares for retail investors investing a minimum of $500; Series F Shares for investors who are enrolled in a dealer sponsored fee-for-service or wrap program; Series I Shares for investors who have invested a minimum of $500,000 in Mackenzie-sponsored funds; and Series O Shares for investors who have invested a minimum of $1 million in Mackenzie-sponsored funds.
The new funds will include old standards such as Mackenzie’s Ivy Canadian fund, a slew of the firm’s Universal funds including Canadian, foreign equity, and sector funds; the Select Managers funds, and the new Keystone Premier Euro Elite 100 and Keystone Premier Global Elite 100 funds.
-IE Staff