Briefly: “Mackenzie launches Founders Global Equity Class” and more news

Mackenzie Financial has introduced the Mackenzie Founders Global Equity Class, a new diversified global portfolio designed to provide long-term growth of capital.

The fund combines the complementary styles of the Mackenzie Cundill and Mackenzie Ivy investment teams. It will invest predominantly in a select group of high-quality multinational companies based outside of Canada. Mackenzie Founders Global Equity Class is available in both Canadian and US dollar versions.

“Although Mackenzie Cundill Value Fund and Mackenzie Ivy Foreign Equity Fund are strong funds on a stand-alone basis, together they have proved to be a remarkable fund pair, producing historically high risk-adjusted returns,” said Terry O’Sullivan, executive vice-president and national sales manager of Mackenzie Financial Services.

“Many advisors have been purchasing these funds together on behalf of their clients for years. Now, with a single purchase of Mackenzie Founders Global Equity Class, advisors and investors can more easily access the benefits of this exceptional fund duo.”

Canoe sets IPO for ‘GO CANADA’ Income Fund

Canoe Financial LP has announced the filing of a preliminary prospectus for combined units of the Canoe ‘GO CANADA’ Income Fund. The filing was made with the securities regulators in each of the provinces and territories.

The fund’s investment objectives are to provide a monthly cash distribution, initially targeted to be 6.0% per annum, based on the $12.00 initial offering price, and maximize unitholders’ risk-adjusted total returns.

The fund is a closed-end investment fund governed by the laws of the province of Alberta. It will invest in an actively managed, diversified portfolio primarily comprised of Canadian equities and fixed income securities.

Prospective purchasers may purchase Units by cash payment or pursuant to an exchange of eligible securities under an exchange option. Pursuant to the exchange option, prospective purchasers are required to deposit their securities prior to 5:00 p.m. (Toronto time) on December 10, 2010. CDS participants may have an earlier deadline for receiving instructions.

The fund will issue a press release after the close of business on January 10, 2011 announcing the applicable exchange ratio for each exchange eligible security. On or about January 31, 2013 the fund will be converted to an open-end mutual fund.

(11/17/10)

Staff

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