Mackenzie Investments Provides Update on Proposed Reorganization of Mackenzie Global Resource Fund

TORONTO, Feb. 12, 2021 /CNW/ - Mackenzie Investments ("Mackenzie") today announced that it is postponing the proposed reorganization of Mackenzie Global Resource Fund ("the Fund") with a mutual fund to be managed by its affiliate Canada Life Investment Management Ltd. ("CLIML"),  a subsidiary of The Canada Life Assurance Company ("Canada Life").

Mackenzie has concluded that it would be prudent and in the best interests of the Fund to defer the investor meeting and proposed reorganization to July 2021.

The Fund is one of eight impacted Mackenzie funds offered under both the Mackenzie and the Mackenzie Canada Life prospectuses that will, pending investor and regulatory approval, be reorganized  to transition investors who hold Canada Life series units to corresponding and substantially similar CLIML managed funds.  This decision follows the August 2020 announcement of Canada Life's intention to create its own investment fund management company (CLIML).

The proposed reorganizations of the other seven funds are not impacted.

About Mackenzie Investments

Mackenzie Investments is a leading investment management firm with approximately $186 billion in assets under management as of January 31, 2021. 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. For more information, visit mackenzieinvestments.com.

SOURCE Mackenzie Investments

Becky Caissie, Mackenzie Investments, 647-969-3431, [email protected]