Toronto-based Mackenzie Financial Corp. is expanding its corporate class mutual fund lineup with four new additions, three of which are tax-efficient versions of pre-existing popular balanced funds.
“Despite the changes announced by the federal government last March, corporate class funds still offer the potential for tax-efficient growth and tax-efficient income,” says Michael Schnitman, senior vice president of product for Mackenzie Investments, in a statement, refering to the federal move to eliminate tax-free switching between corporate classes. “That is why we are making some of our most popular funds available as corporate class [versions].”
The new corporate class funds are:
> Mackenzie Canadian Growth Class, which focuses on niche market leaders that are not typical household names.
> Mackenzie Canadian Growth Balanced Class, which seeks to deliver long-term growth of capital by investing in high-quality companies and includes a fixed-income component.
> Mackenzie Ivy Canadian Balanced Class, which seeks to provide long-term growth of capital by mainly investing in the equities of high-quality Canadian-based businesses and includes a portion of fixed-income.
> Mackenzie Ivy Global Balanced Class, which seeks to provide long-term growth of capital by investing mainly in a group of high-quality multinational businesses and also includes a fixed-income component.
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