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.
Mackenzie Investments Logo (CNW Group/Mackenzie Financial Corporation)
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 Europe Index ETF (ticker: MEU)
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.
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 Continuing ETF Units Issued in Respect of the Merger
Mackenzie Maximum Diversification Canada Index ETF (ticker: MKC)
Mackenzie Canada Low
Volatility ETF (ticker:
MCLV)
1.576212
4,721,015
Mackenzie Maximum Diversification US Index ETF (ticker: MUS)
Mackenzie US Low
Volatility ETF (ticker:
MULV)
1.754172
3,232,092
Mackenzie Maximum Diversification All World Developed Index ETF (ticker: MWD)
Mackenzie World Low Volatility ETF (ticker: MWLV)
1.301986
9,003,491
Mackenzie Maximum Diversification All World Developed ex North America Index ETF (ticker: MXU)
Mackenzie World Low Volatility ETF (ticker: MWLV)
1.055373
9,003,491
Mackenzie Maximum Diversification Emerging Markets Index ETF (ticker: MEE)
Mackenzie Emerging Markets Equity Index ETF (ticker: QEE)
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.
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
