Mackenzie Investments has four new corporate-class funds, including three balanced funds.
The company is going ahead despite tax changes announced by the federal government last March, saying in a release that “corporate-class funds still offer the potential for tax-efficient growth and tax-efficient income.”
As of Jan. 1, 2017, exchanging units of one corporate-class fund for another will no longer be tax-deferred.
Read: Finance gives corporate-class shareholders a break
The new funds are:
Mackenzie Canadian Growth Class — focuses on niche market leaders that are not typical household names
Mackenzie Canadian Growth Balanced Class — aims to deliver long-term capital growth by investing in high-quality companies, complemented with a fixed-income component
Mackenzie Ivy Canadian Balanced Class — aims to provide long-term capital growth by mainly investing in equities of high-quality Canadian-based businesses, and includes a fixed-income portion
Mackenzie Ivy Global Balanced Class — seeks to provide long-term capital growth by investing mainly in a select group of high-quality multinational businesses, and includes a fixed-income portion
Read: RCAs can save tax for executive clients
Also read: Don’t panic about corporate-class funds