Mackenzie fast tracks Destination+ Funds merger

By Staff | June 4, 2012 | Last updated on June 4, 2012
1 min read

Mackenzie Financial Corporation, or Mackenzie Investments, has accelerated the target end date of its lineup of Destination+ Funds to August 17, 2012.

The Mackenzie Destination+ 2015 Fund, Mackenzie Destination+ 2017 Fund, Mackenzie Destination+ 2020 Fund and Mackenzie Destination+ 2025 Fund will all merge into the Mackenzie Sentinel Money Market Fund, which pursues a steady flow of income with reasonable safety of capital and liquidity. It will invest primarily in money market securities, as well as Canadian government and corporate bonds.

The funds performed as intended, having protected investors’ capital through extremely turbulent markets. They also rebalanced into low‐yielding fixed‐income securities after the 2008 market collapse as expected.

Now, though, the net asset value of the Destination+ Funds is almost equal to its guaranteed maturity amount, with limited potential for future returns. It’s in the best interests of investors to accelerate the target end dates, says Mackenzie. staff


The staff of have been covering news for financial advisors since 1998.