The Ontario Securities Commission granted Mackenzie Financial Corporation (the Filer) an extension of the prospectus lapse date for certain funds (the Funds) it manages. This decision allows the Filer to align the prospectus renewal of the Funds with that of other funds under its management (the September Funds), which have a later lapse date. The extension is for 44 days, moving the lapse date from August 15, 2023, to September 29, 2023.
The Filer sought this exemption to reduce costs associated with renewing, printing, and distributing separate prospectuses for the Funds and the September Funds. Combining the prospectuses is also expected to streamline disclosure and make it easier for investors to compare fund features.
The decision was made under subsection 62(5) of the Securities Act (Ontario) and is based on the understanding that there have been no material changes in the Funds’ affairs since the last prospectus was filed, and the current prospectus still provides accurate information. Should any material changes occur, the Filer is obligated to amend the prospectus as required by law.
The exemption is not anticipated to negatively impact the public interest or the accuracy of information available to investors. The Funds’ securities will continue to be distributed under the current prospectus until the new combined prospectus is filed. New investors will receive the most recent fund facts documents, and the prospectus will remain available upon request.
The decision applies to the Funds listed in Schedule A and is intended to be relied upon in multiple Canadian jurisdictions as per Multilateral Instrument 11-102 Passport System. The relevant legislative provisions include the Securities Act (Ontario), National Instrument 81-101 Mutual Fund Prospectus Disclosure, and National Instrument 81-102 Investment Funds.