MSP Capital Corp. reports that MSP 2006 Resource LP will transfer substantially all of its assets to Mackenzie Financial Capital Corp. (MFC) on March 27.
In exchange, MFC will issue to the LP a number of shares of Mackenzie Sentinel Canadian Managed Yield Class (the fund) having the same aggregate value as the aggregate value of the assets transferred by the LP. On March 28, the LP will be dissolved, with the result that limited partners of will become shareholders of the fund. Appropriate tax elections will be made so that these transfers occur on a tax-deferred basis.
The fund is a mutual fund that is a class of redeemable shares of MFC, a multi-class mutual fund corporation. The investment strategy of the fund is to earn a tax-efficient return that approximates the rate of return provided by bankers’ acceptances. The fund is one of 48 separate classes of mutual fund shares currently offered by MFC, which include a broad range of investment mandates and portfolio managers. Shareholders of MFC are permitted to switch between most MFC mutual funds, and all switches occur on a tax-deferred basis.
Mackenzie Financial Corp. is the manager of the partnership, the fund, and MFC. Mackenzie, founded in 1967, manages approximately $60.2 billion of assets for more than one million investors.
MSP 2006 Resource LP announces rollover of partnership assets
Limited partners to become shareholders of Mackenzie Sentinel Canadian Managed Yield Class
- By: IE Staff
- March 3, 2008 March 3, 2008
- 09:30