Mackenzie Investments Provides Additional Information on ETF Termination and Mergers
TORONTO, Oct. 2, 2024 /CNW/ - Mackenzie Investments ("Mackenzie") today announced additional information regarding the termination and mergers of select exchange traded funds ("ETF") that were initially announced June 20, 2024.
- ETF Termination
The units of the following Terminating ETF were delisted from the Toronto Stock Exchange on September 26, 2024. The proceeds from the liquidation of the assets, less all liabilities and expenses incurred in connection with the termination of the Terminating ETF (the "Termination Proceeds"), were determined on September 30, 2024, and are as follows:
Terminating ETF | Termination Proceeds per unit |
Mackenzie Maximum Diversification Developed | 23.515566 |
Each unitholder will receive the Termination Proceeds on a pro rata basis as shown in the table above and no further action is required by unitholders.
The Termination Proceeds will be paid out to CDS Clearing and Depository Services Inc. ("CDS") on or about October 4, 2024, which investors will receive thereafter based on individual brokerage processing times.
Estimated notional distributions were announced September 20, 2024 and will be finalized and reported at a later date.
2. ETF Mergers
Mackenzie also announced the resulting Exchange Ratios and Total Number of Continuing ETF units for the ETF mergers previously announced.
Securityholders of each Merging ETF have received units of the Continuing ETF based on the stated exchange ratio (the "Exchange Ratio"), as set out in the table below, for each security of the Merging ETF held as of September 27, 2024. No fractional units of the Continuing ETF, or cash in lieu thereof, were issued or paid pursuant to the mergers. The total number of units of the Continuing ETF issued to each Merging ETF is also set out in the table below.
Merging ETF | Continuing ETF | Exchange Ratio | Total Number of |
Mackenzie Maximum | Mackenzie Canada Low Volatility ETF (ticker: MCLV) | 1.576212 | 4,721,015 |
Mackenzie Maximum | Mackenzie US Low Volatility ETF (ticker: MULV) | 1.754172 | 3,232,092 |
Mackenzie Maximum | Mackenzie World Low | 1.301986 | 9,003,491 |
Mackenzie Maximum | Mackenzie World Low | 1.055373 | 9,003,491 |
Mackenzie Maximum | Mackenzie Emerging | 0.263607 | 919,135 |
Securities of the Merging ETFs were delisted from the Toronto Stock Exchange at the close of business on September 27, 2024.
For more information on the mergers and terminations, please see: Mackenzie Investments Announces Proposed Changes to Its Mutual Fund and ETF Lineups.
For additional details on the distributions, please see: Mackenzie Investments Announces Estimated Reinvested Distributions in Connection with the Mergers and Termination of Exchange Traded Funds
Further information about Mackenzie ETFs can be found at mackenzieinvestments.com.
Commissions, management fees, brokerage fees and expenses all may be associated with Exchange Traded Funds. Please read the prospectus before investing. Exchange Traded Funds are not guaranteed, their values change frequently and past performance may not be repeated.
The payment of distributions is not guaranteed and may fluctuate. The payment of distributions should not be confused with an Exchange Traded Fund's performance, rate of return or yield. If distributions paid by the Exchange Traded Fund are greater than the performance of the Exchange Traded Fund, your original investment will shrink. Distributions paid as a result of capital gains realized by an Exchange Traded Fund, and income and dividends earned by an Exchange Traded Fund are taxable in your hands in the year they are paid. Your adjusted cost base will be reduced by the amount of any returns of capital. If your adjusted cost base goes below zero, you will have to pay capital gains tax on the amount below zero.
TOBAM Maximum Diversification All World Developed ex North America Index, TOBAM Maximum Diversification All World Developed Index, TOBAM Maximum Diversification Emerging Index, TOBAM Maximum Diversification Canada Index, TOBAM Maximum Diversification USA Index and TOBAM Maximum Diversification Developed Europe Index data copyright ©2024, TOBAM S.A.S. All rights reserved. "TOBAM" and "Maximum Diversification" are each a registered trademark and service mark of TOBAM S.A.S. or its affiliates ("TOBAM") and are used under license for certain purposes by Mackenzie Financial Corporation. Reproduction of the TOBAM data and information in any form is prohibited except with the prior written permission of TOBAM S.A.S. Mackenzie Maximum Diversification All World Developed Ex North America Index ETF, Mackenzie Maximum Diversification All World Developed ETF, Mackenzie Maximum Diversification Emerging Markets Index ETF, Mackenzie Maximum Diversification Canada Index ETF, Mackenzie Maximum Diversification US Index ETF and Mackenzie Maximum Diversification Developed Europe Index ETF are not sponsored, endorsed, sold or promoted by TOBAM and TOBAM makes no representation regarding the advisability of investing in such funds/ETFs. TOBAM does not guarantee the accuracy or completeness of any data and information and is not responsible for any error or omission or for the results obtained from the use of such data and information. TOBAM GIVES NO EXPRESS OR IMPLIED WARRANTY, INCLUDING, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
About Mackenzie Investments
Mackenzie Investments ("Mackenzie") is a leading investment management firm with $208.6 billion in assets under management as of August 31, 2024. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing. Mackenzie is a member of IGM Financial Inc. (TSX: IGM), one of Canada's premier financial services companies with approximately $260 billion in total assets under management and advisement as of August 31, 2024. For more information, visit mackenzieinvestments.com
SOURCE Mackenzie Financial Corporation
For further information, please contact: Hilary Bassett, Mackenzie Investments, 416-951-7558, [email protected], Kim Tran, Mackenzie Investments (Québec), 514-217-1684, [email protected]
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