MACKENZIE CUNDILL EMERGING MARKETS VALUE CLASS SERIES A

These costs consist mainly of brokerage charges associated with the trades that occur both before and after the date of the proposed Mergers and legal, proxy solicitation, printing, mailing and regulatory fees. If the Proposed Reorganizations are approved, the reorganizations will be implemented after the close of business on the Effective Date. No sales charges will be charged by the Filer to investors or to the Terminating Fund or Continuing Fund in connection with the acquisition by a Continuing Fund of the investment portfolio of its applicable Terminating Fund. JavaScript is disabled or not supported by this browser. There are no charges payable by securityholders of the Terminating Funds who acquire securities of the corresponding Continuing Funds as a result of the Proposed Reorganization. In certain cases, the Continuing Funds provide a substantially similar yet broader or more flexible mandate, with consistency of management that the Filer believes provides those Continuing Funds with broader investment opportunities that can lead to increased diversification and return potential. The Manager will pay for the costs of the proposed Mergers. Following the implementation of the Proposed Reorganization, all systematic plans that were established with respect to the Terminating Funds will be re-established in the Continuing Fund, either on a series-for-series basis or into a similar series with substantially similar fees, unless securityholders advise the Filer otherwise or unless otherwise noted in the information circular.

The remaining Funds are unit trusts collectively, the ” Trust Funds “. Registrant Forms and Documents. Effecting the Taxable Mergers on a taxable basis will preserve, where applicable, any unused tax losses of the Continuing Fund, which would otherwise expire upon implementation of the Taxable Merger on a tax deferred basis and therefore would not be available to shelter income and capital gains realized by the Continuing Fund in future years. In accordance with National Instrument Continuous Disclosure , a press release describing the Proposed Reorganizations was issued and the press release, material change report and amendments to the applicable simplified prospectus and annual information form, as well as revised fund facts of the Terminating Funds, which give notice of the Proposed Reorganizations, were filed on SEDAR on April 2, for each of Mackenzie Funds, Quadrus Group of Funds and Laurentian Group of Funds. Other than circumstances in which the securities regulatory authority of a Jurisdiction has expressly exempted a Fund therefrom, each of the Funds follows the standard investment restrictions and practices established under NI Securityholders in the Terminating Funds will continue to have the right to redeem their units or exchange their units for securities of any other mutual fund of the Filer at any time up to the close of business on the business day before the Effective Date. Following the implementation of the Proposed Reorganization, all systematic plans that were established with respect to the Terminating Funds will be re-established in the Continuing Fund, either on a series-for-series basis or into a similar series with substantially similar fees, unless securityholders advise the Filer otherwise or unless otherwise noted in the information circular. The Funds are either unit trusts established under the laws of Ontario or separate classes of securities of the Corporation, a mutual fund corporation governed under the laws of Ontario.

The decision of the Principal Regulator under the Legislation is that the Requested Relief is granted, provided that the Filer obtains the prior approval of the securityholders of the Terminating Funds for the Proposed Reorganizations at a special meeting held for that purpose.

The Meeting Materials also describe the various ways in which securityholders can obtain a copy of the simplified prospectus and annual information form of the Continuing Funds, as well as the most recent interim and annual financial statements and management reports of fund performance for the Continuing Emergng, at no cost. The net asset value for each class or series of the Funds, as applicable, is calculated on a daily basis in accordance with the Funds’ valuation policy and as described in the applicable Offering Documents.

CANNEX Financial Exchanges Limited

vlaue As a result, the portfolios of some of the Terminating Corporate Class Funds may temporarily hold cash, money market instruments or investments that are not consistent with their investment objectives, and may not be fully invested in accordance with their investment objectives for a brief period of time prior mackehzie the Merger being effected.

  LENALEE VS LEVEL 3 EPISODE

The assets of each Terminating Fund to be acquired by the applicable Continuing Fund in order to effect the Mergers are currently, or will be, acceptable, on or prior to the effective mackfnzie of the Mergers, to the portfolio manager s of the applicable Continuing Fund and are, or will be, consistent with the investment objectives of the Continuing Fund.

Following the implementation of the Proposed Reorganization, all systematic plans that were established with respect to the Terminating Funds will be re-established in the Continuing Fund, either on a series-for-series basis or into a similar series with substantially similar fees, unless securityholders advise the Filer otherwise or unless otherwise noted in the information circular.

Other than circumstances in which the securities regulatory authority of a Jurisdiction has expressly exempted a Fund therefrom, each of the Funds follows the standard investment restrictions and practices established under NI If the necessary approvals are obtained, the Filer will carry out the following steps to complete the Proposed Reorganizations:.

The Proposed Reorganizations do not require approval of securityholders of the Continuing Funds as the Filer has determined that the Proposed Reorganizations do not constitute material changes to any of the Continuing Fund. National Policy Process for Exemptive Relief Applications in Multiple Jurisdictions — approval of investment fund mergers — approval required because mergers do not meet the criteria for pre-approved reorganizations and transfers in National Instrument Investment Funds — certain terminating funds and continuing funds do not have substantially similar fundamental investment objectives — certain mergers will not be a “qualifying exchange” or a tax-deferred transaction under the Income Tax Act — mergers to otherwise comply with pre-approval criteria, including securityholder vote, IRC approval — securityholders provided with timely and adequate disclosure regarding the mergers.

Securityholders who redeem units may be subject to redemption charges. Reporting Issuer and Issuer Forms.

Securities Law & Instruments

Effecting the Taxable Mergers on a taxable basis will preserve, where applicable, any unused tax losses of the Continuing Fund, which would otherwise expire upon implementation of the Taxable Merger on a tax deferred basis and therefore would not be available to shelter income and capital gains realized by the Continuing Fund in future years.

Except as noted above, the Proposed Reorganizations will otherwise comply with all other criteria for pre-approved reorganizations and transfers set out in section 5. In order to effect the Mergers relating to these series of the Terminating Funds, securities of the applicable series of the Continuing Funds will be distributed to securityholders of the Terminating Funds in reliance on the prospectus exemption contained in section 2. In certain cases, the Continuing Funds provide a substantially similar yet broader or more flexible mandate, with consistency of management that the Filer believes provides those Continuing Funds with broader investment opportunities that can lead to increased diversification and return potential.

Following the implementation of mmackenzie Proposed Reorganizations, the Continuing Funds will continue as publicly offered open-ended mutual funds offering securities in the Jurisdictions, or, in the case of Corporate Class Funds, will emsrging as classes of the Corporation.

Terms defined in National Instrument Definitions and MI have the same meaning if used in this decision, unless otherwise defined. No sales avlue will be charged by the Filer to investors or to the Terminating Fund or Continuing Fund in connection with the acquisition by a Continuing Fund of the investment portfolio of its applicable Terminating Fund.

The Taxable Mergers will be effected on a taxable basis, which the Manager has determined will be in the overall best interests of the investors of the Terminating Funds and the Continuing Funds given the investment mandates and applicable portfolio management teams of mackenziw Continuing Funds. Registrant Forms and Documents. The Manager will pay for the costs of the proposed Mergers.

In accordance with National Instrument Continuous Disclosurea press release describing the Proposed Reorganizations was issued and the press release, material change report and amendments to the applicable simplified prospectus and annual information form, avlue well as revised fund facts of the Terminating Funds, which give notice of the Proposed Reorganizations, were filed on SEDAR on April 2, for each of Mackenzie Funds, Quadrus Group of Funds and Laurentian Group of Funds.

  DIE WINDPOMP MOVIE

As a result, some of the Terminating Trust Funds may temporarily hold cash, money market instruments or investments that are not consistent with their investment objectives, and may not be fully invested in accordance with their investment objectives for a brief period of time prior to the Merger being effected. The Terminating Funds and Continuing Funds are each reporting issuers under the securities legislation of the Jurisdictions. This website works best with JavaScript enabled.

Mackenzie Financial Corporation et al.

The principal regulator in the Jurisdiction has received an application from the Filer on behalf of the Terminating Funds, for a decision under the securities legislation of the Jurisdiction the Legislation approving the proposed reorganization of each of the Terminating Funds with applicable Continuing Funds each as defined belowpursuant to subsection 5.

If the Proposed Reorganizations are approved, the reorganizations will be implemented after the close of business on the Effective Date. There are no charges payable by securityholders of the Terminating Funds who acquire securities of the corresponding Continuing Funds as a result of the Proposed Reorganization. The Principal Regulator is satisfied that the decision meets the test set out in the Legislation for the Principal Regulator to make the decision.

The Meeting Materials describe all of the relevant facts concerning the Proposed Reorganizations relevant to each securityholder, including the differences between investment objectives, strategies and fee structures of the Terminating Funds and the Continuing Funds, the IRC’s recommendations of the Proposed Reorganization, and income tax considerations so that securityholders of the Terminating Funds may consider this information before voting on the Proposed Reorganization.

Certain securities of certain Funds are offered only on an exempt distribution basis or are no longer available for purchase; for example, Series I, J, OJ, R, and S securities of certain Funds have never been clsas are no longer qualified for distribution under a prospectus.

If the Proposed Reorganizations are not approved, the Terminating Fund will continue cunidll be offered for distribution. JavaScript is disabled or not supported by this browser. A notice and access document, notice of meeting, management information circular, proxy and fund facts of the applicable series of the Continuing Fund ” Meeting Materials ” were mailed or otherwise made available to securityholders of the Terminating Fund on May 16, and were filed on SEDAR on May 17, Securityholders in the Terminating Funds will continue to have the right to redeem their units or exchange their units for securities of any other mutual fund of the Filer at any time up to the close of business on the business day before the Effective Date.

The Filer believes that the Proposed Reorganization is beneficial to securityholders of the Terminating Funds for the following reasons:. Pursuant to the Proposed Reorganizations, securityholders of each of the Terminating Funds would become securityholders of the applicable Emerigng Fund, as follows each a ” Merger ” and collectively, the ” Mergers “:.

The remaining Funds are unit trusts collectively, the ” Trust Funds “. The IRC reviewed the Proposed Reorganizations and provided a positive recommendation for each of the Proposed Reorganization, having determined that the Proposed Reorganizations, if implemented, would achieve a fair and reasonable result for each of the Funds and their respective securityholders.

The Mergers will also allow the Filer to make its product offering smaller and simpler, and therefore easier for investors to navigate. Neither the Filer nor the Funds are in default of securities legislation in the Jurisdictions, as applicable. The Filer is a corporation governed by the laws of Ontario and is registered as follows: The Mergers are being proposed to reflect the Filer’s desire to deploy its portfolio managers as efficiently as possible, in order to maximize return potential for fund investors.

Fund facts relating to the applicable series of each Continuing Fund were mailed to securityholders of the corresponding series of each Terminating Fund in all instances other than in respect of the Grandfathering Mergers, the Closed and Exempt Mergers and the Exempt Mergers.

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