Mackenzie Investments today announced the launch of Mackenzie Destination+ 2017 Fund. The fund joins Mackenzie’s Destination+ lineup of funds, an investment solution designed specifically for investors who are saving for a specific goal, such as retirement or a child’s post-secondary education.
With the today’s fund launch, investors now have four maturity options to choose from: Mackenzie Destination+ 2015 Fund; Mackenzie Destination+ 2017 Fund; Mackenzie Destination+ 2020 Fund; and Mackenzie Destination+ 2025 Fund. Investors who want to receive funds over several time periods can stagger maturity dates by investing in several different Destination+ funds.
“Based on feedback from financial advisors, Destination+ Funds are a useful financial planning solution, particularly for investors who are uncertain about investing in equity markets,” says David Feather, president, Mackenzie Financial Services Inc. “The guaranteed maturity amount provides downward protection, while a high initial level of equity exposure offers excellent growth opportunities.”
An investor simply selects the Mackenzie Destination+ Fund with the maturity date that most closely matches the year they will access their funds. Starting with an initial focus on growth, the funds automatically adjust the asset mix to reduce volatility in the portfolio as the destination date approaches or as market conditions change.
Mackenzie says the Destination+ Funds differ from many other lifecycle or target funds in several important ways.
The funds are open-ended target date mutual funds with a 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 funds if they remain fully invested until the destination date.
The funds feature a guaranteed maturity amount . At least the investor’s original investment in the funds is paid when held to the destination date, providing peace of mind.
The funds start with greater equity exposure. Destination+ 2015 and Destination+ 2017 Funds hold 75% equity at the outset, while Destination+ 2020 and 2025 hold 100% equity at the outset. Most similar programs start off with lower equity exposure.
As well, the equity component includes exposure to emerging markets, an area with high growth potential.
Mackenzie launches Destination+ 2017 Fund
Fund offers investors daily lock-in of gains and guaranteed maturity amount
- By: IE Staff
- June 23, 2008 June 23, 2008
- 12:25