The structure of the fund makes it an ideal solution for retail investors with the following features:
- quarterly repurchase offers (redemptions) up to a maximum of five percent of the fund’s assets;
- weekly assessment;
- monthly subscription frequency;
- $5,000 minimum initial investment; And
- No lock-up period that would restrict quarterly redemptions.
Through Northleaf’s open-end, senior secured private credit (levered and unlevered) fund for institutional investors, the fund will offer exposure to a diversified, global portfolio of senior secured floating rate loans to mid-market private companies. It will also deftly incorporate McKenzie fixed income ETFs to facilitate liquidity.
“Our team of alternative investment experts has worked closely with Northleaf, a global leader in investing in private markets, to make options more accessible and provide new opportunities for Canadians to grow their portfolios and meet their investment goals. And for providing innovative ways,” Schnittman said.
Mackenzie has introduced nine alternative mutual funds since May 2018, when it introduced Canada’s first publicly traded alternative mutual fund for individual investors.