Implications of Federal Budget 2016 on Mackenzie Investments Corporate Class Funds

TORONTO, April 1, 2016 /CNW/ - The 2016 Federal Budget announced a proposal that would eliminate the deferral of capital gains tax for investors switching between different classes of shares within a mutual fund corporation. The budget proposal will treat an exchange of shares between corporate class funds occurring on or after October 1, 2016 as a disposition at fair market value which will trigger capital gains or losses. The change will not apply to exchanges between different series of the same share class.

Mackenzie Investments is evaluating the full impact the proposal will have on investors and the corporate class structure. Until then, the Funds will continue to operate in the same manner as prior to the budget announcement. Mackenzie Investments is awaiting further guidance from the federal government with respect to implementation of the proposal. Investors are encouraged to speak to their advisor about these changes and their impact. More information can be found on the Mackenzie Investments website special budget section at https://www.mackenzieinvestments.com/en/products/tax-and-estate-planning/2016-federal-budget/summary

The proposal affects all of the Mackenzie Investments Corporate Class Funds including:

Mackenzie All Cap Dividend Class

Mackenzie Canadian All Cap Balanced Class

Mackenzie Canadian All Cap Dividend Class

Mackenzie Canadian All Cap Value Class

Mackenzie Canadian Large Cap Dividend Class

Mackenzie Canadian Money Market Class

Mackenzie Canadian Small Cap Value Class

Mackenzie Cundill Canadian Security Class

Mackenzie Cundill Recovery Class

Mackenzie Cundill US Class

Mackenzie Cundill Value Class

Mackenzie Emerging Markets Class

Mackenzie Emerging Markets Opportunities Class

Mackenzie Global Concentrated Equity Class

Mackenzie Global Diversified Equity Class

Mackenzie Global Growth Class

Mackenzie Global Resource Class

Mackenzie Global Small Cap Growth Class

Mackenzie Gold Bullion Class

Mackenzie International Growth Class

Mackenzie Ivy European Class

Mackenzie Ivy Foreign Equity Class

Mackenzie Ivy Foreign Equity Currency Neutral Class

Mackenzie Precious Metals Class

Mackenzie Private Canadian Focused Equity Pool Class

Mackenzie Private Global Equity Pool Class

Mackenzie Private Income Balanced Pool Class

Mackenzie Private US Equity Pool Class

Mackenzie Strategic Income Class

Mackenzie US Growth Class

Mackenzie US Large Cap Class

Mackenzie US Mid Cap Growth Class

Mackenzie US Mid Cap Growth Currency Neutral Class

Symmetry Balanced Portfolio Class

Symmetry Conservative Income Portfolio Class

Symmetry Conservative Portfolio Class

Symmetry Emerging Markets Equity Corporate Class

Symmetry Equity Portfolio Class

Symmetry Growth Portfolio Class

This proposal also affects the following funds that are managed by Mackenzie Investments and distributed by Quadrus Investment Services Ltd.:

Canadian Dividend Class (Laketon)

Canadian Equity Class

Canadian Value Class (FGP)

Cash Management Class

Dividend Class (GWLIM)

Focused Canadian Equity Class (CGOV)

Global Dividend Class (Setanta)

Global Equity Class (Setanta)

Growth and Income Class (GWLIM)

International Equity Class (Putnam)

North American Specialty Class

U.S. and International Equity Class

U.S. and International Specialty Class

U.S. Dividend Class (GWLIM)

U.S. Value Class (Putnam)  

About Mackenzie Investments
Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $59.1 billion in assets under management as at February 29, 2016, 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 $129 billion in total assets under management as at February 29, 2016. For more information, visit mackenzieinvestments.com.

Quadrus Investment Services Ltd. ("Quadrus") is one of the largest mutual fund dealers in Canada. Quadrus is a member of the Great-West Lifeco Inc. group of companies, which includes The Great West Life Assurance Company, London Life Insurance Company and The Canada Life Assurance Company. Quadrus Group of Funds is distributed exclusively through the Quadrus Investment Services Ltd.

SOURCE Mackenzie Investments

Trish Tervit, Director, Communications and Media Relations, Mackenzie Investments, 416-967-2166, [email protected]