TORONTO, June 1, 2012 /CNW/ - Mackenzie Financial
Corporation (Mackenzie Investments) announced today it has
accelerated the target end date of its lineup of Destination+ Funds
to August 17, 2012. On this date,
Mackenzie Destination+ 2015 Fund, Mackenzie Destination+ 2017 Fund,
Mackenzie Destination+ 2020 Fund and Mackenzie Destination+ 2025
Fund will merge into Mackenzie Sentinel Money Market Fund.
Investors in the Destination+ Funds will receive written notice of
the mergers at least 60 days before this date.
The Destination+ Funds have performed as intended, having
protected investors' capital through some very turbulent markets.
In accordance with their investment objectives, the Destination+
Funds rebalanced into low-yielding fixed-income securities after
the market collapse in the fall of 2008. Now, the net asset value
of each series of the Destination+ Funds is so close to its
guaranteed maturity amount that there is very limited potential for
future returns. Accordingly, Mackenzie believes it is in the best
interests of investors to accelerate the target end dates at this
time.
No action is needed from investors in the Destination+ Funds at
this time. After the close of business on August 17, 2012, the Destination+ Funds will be
merged into Mackenzie Sentinel Money Market Fund.
Mackenzie Sentinel Money Market Fund pursues a steady flow of
income with reasonable safety of capital and liquidity by investing
mainly in money market securities, as well as Canadian government
and corporate bonds with maturities of up to one year.
Investors will be able to remain in this money market fund or
transfer to another Mackenzie mutual fund. They are encouraged to
speak with their financial advisor to discuss their investment
options.
Mackenzie Investments: Mackenzie Investments was founded
in 1967, and is a leading investment management firm providing
investment advisory and related services. With $63 billion in assets under management as at
April 30, 2012, Mackenzie Investments
distributes its investment services through multiple distribution
channels to both retail and institutional investors. Mackenzie
Investments is a member of the IGM Financial Inc. (TSX: IGM) group
of companies. IGM Financial is one of Canada's premier financial services companies
with over $122 billion in total
assets under management as at April 30,
2012. For more information, visit
www.mackenziefinancial.com.
SOURCE Mackenzie Investments