Mr. Luke Gould reports

MACKENZIE INVESTMENTS INTRODUCES FIRST HOME SAVINGS ACCOUNT: A TAX-FREE OPPORTUNITY TO SAVE FOR FIRST TIME BUYERS

IGM Financial Inc.'s Mackenzie Investments has begun offering a first home savings account (FHSA). Available through financial advisers, the Mackenzie FHSA enhances the ability of Canadians to save for the purchase of their first home through a tax-sheltered savings and investment account.

Eligible first-time Canadian homebuyers can work with their financial advisers to establish and finance their FHSA. Contributions to the FHSA may be deducted from taxable income and qualifying withdrawals to purchase a home are not taxable.

"We're excited to help people be more invested in their financial future and reach one of life's major milestones -- the purchase of a first home," said Luke Gould, president and chief executive officer, Mackenzie Investments. "When integrated into a holistic financial plan, the FSHA is a tax-efficient vehicle that enables Canadians to save more of what their investments earn, enhancing the opportunity to achieve their home ownership goals sooner."

The Mackenzie FHSA includes the following features:

• Lifetime contribution limit of $40,000;
• Annual contribution of up to $8,000, which can be carried forward from prior years for as long as the account is open;
• The option to invest in all Mackenzie mutual funds and series except for the Mackenzie Northleaf Private Infrastructure Fund, Mackenzie Northleaf Global Private Equity Fund and all U.S.-dollar funds;
• Mackenzie exchange-traded funds are not eligible to be held in Mackenzie-administered accounts (client name accounts);
• All property within the FHSA, including contributions, investment income and capital gains, can be taken out tax-free when a qualifying withdrawal is made;
• Undeducted contributions can be carried forward indefinitely; these deductions are in addition to any registered retirement savings plan contributions made in a year.

About Mackenzie Investments

Mackenzie Investments is a leading investment management firm with $183.3-billion in assets under management as of Oct. 31, 2023. Mackenzie provides investment solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, Mackenzie is a global asset manager with offices across Canada as well as in Boston, Dublin, London, Hong Kong and Beijing. Mackenzie is a member of IGM Financial, one of Canada's premier financial services companies with approximately $250-billion in total assets under management and advisement as of Oct. 31, 2023.

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