Mackenzie Investments today announced the launch of Mackenzie Destination+ Funds, a new product line specially designed for investors saving for a specific goal such as retirement, a home or vacation property, a child’s post-secondary education.

An investor simply selects the Mackenzie Destination+ Fund with the maturity date that most closely matches the year they will access their funds.

Three maturity options are available: Mackenzie Destination+ 2015 Fund; Mackenzie Destination+ 2020 Fund; and Mackenzie Destination+ 2025 Fund.

“Mackenzie Destination+ Funds help investors plan for future events with confidence,” says David Feather, president, Mackenzie Financial Services Inc. “Starting with an initial focus on growth, the investor’s asset allocation is modified as the target date approaches, placing greater emphasis on safety and protection within each Destination+ Fund.”

Professional managers actively manage all underlying funds. The equity portfolios in the Destination+ Funds benefit from the growth potential of such leading funds as Mackenzie Cundill Value Fund, Mackenzie Maxxum Dividend Fund, Mackenzie Ivy Foreign Equity Fund, Mackenzie Universal Canadian Growth Fund and Mackenzie Cundill Emerging Markets Value Class.

The balanced portfolios in the Destination+ Funds consist of Mackenzie Sentinel Income Fund, Mackenzie Sentinel Bond Fund and Mackenzie Sentinel Corporate Bond Fund.

Mackenzie notes that the Destination+ Fundsdiffer from many other lifecycle or target funds in several ways:

  • The funds are open-ended target date mutual funds with a guaranteed daily lock-in of investment gains. Each day, the highest net asset value is locked in, allowing investors to capture the growth achieved by the Destination+ Funds if they remain fully invested until maturity (the “destination date”).
  • The investor’s original investment in Destination+ Funds is guaranteed when held to the destination date, providing peace of mind for advisors and their clients.
  • Destination+ 2020 and Destination+ 2025 Funds hold 100% equity at the outset to maximize potential growth. Most similar programs start off with lower equity exposure.
  • The equity component includes exposure to emerging markets, an area with high growth potential.