Mackenzie Destination+ 2025 Fund will close to new purchases on Dec. 31, Mackenzie Financial Corp. said Thursday.

According to Mackenzie, the Destination+ Funds are designed to weather difficult market conditions and when markets deteriorate, the funds move toward more conservative allocations. This helps to protect investors’ capital and the investment gains received through the funds’ daily lock-in feature.

Due to significant declines in the global markets and interest rates, Mackenzie Destination+ 2025 Fund was moved to the “Destination+ Protected Portfolio” on Nov. 24, Mackenzie said.

The Protected Portfolio consists entirely of fixed income investments, including provincial and corporate bonds and cash equivalents.

Investors who buy prior to the closing date will receive the applicable maturity guarantee if they remain invested to maturity, Mackenzie said.