TORONTO, Oct. 1, 2018 /CNW/ - Mackenzie Investments
strengthened its pricing commitment today for investors by further
enhancing and simplifying its pricing structure and announcing
additional fee reductions.
"It's incredible to think that in just two and a half years our
ETF shelf has grown so rapidly that we are quickly approaching
$3 Billion in AUM, leading us to
become the 8th largest ETF provider in the country," said
Barry McInerney, President and Chief
Executive Officer, Mackenzie
Investments. "Today, we are furthering our leadership
position by lowering prices on 14 Exchange Traded Funds and further
decreasing prices on seven mutual funds."
Preferred pricing for RDSP accounts
In today's pricing
announcements, Mackenzie will launch a tiered pricing series for
RDSP investors. Beginning April 1,
2019, and the second Friday of every month thereafter,
qualified households with a minimum of $100,000 with Mackenzie will be automatically
switched into Series PWR.
"RDSPs have always been an important part of Mackenzie's
business," added McInerney. "Years ago, we became the only
independent fund company to offer RDSPs. Since then we have
increased the number of investment options available and our next
step forward is to extend our tiered pricing service to RDSPs."
Preferred pricing accessible to investors at $100,000
Earlier this year, Mackenzie
lowered the minimum eligibility requirement for its preferred
pricing on the Private Wealth Series from $250,000 to $100,000 per household, making the pricing more
accessible to investors and more competitive. Households who reach
a high-water mark1 of $100,000 are automatically switched to a series
with lower management fees.
To complete the program's automation, effective January 2, 2019, if the high-water
mark1 of a household enrolled in a preferred pricing
series falls below the minimum eligibility requirement, the
holdings will switch to an equivalent retail series. Investors can
top up their investment back to the $100,000 minimum anytime to lower their cost of
investing and take advantage of the many benefits of Mackenzie's
Private Wealth Solutions.
Lower pricing on 14 ETFs
The following lower pricing
on ETFs will be implemented on or about October 12, 2018:
|
Mackenzie
ETF
|
Ticker
|
Current
management
fee
|
New management
fee
|
|
Mackenzie Core Plus
Canadian Fixed Income ETF
|
MKB
|
0.55%
|
0.40%
|
|
Mackenzie Floating
Rate Income ETF
|
MFT
|
0.65%
|
0.60%
|
|
Mackenzie Global High
Yield Fixed Income ETF
|
MHYB
|
0.65%
|
0.60%
|
|
Mackenzie
Unconstrained Bond ETF
|
MUB
|
0.55%
|
0.50%
|
|
Mackenzie Canadian
Short Term Fixed Income ETF
|
MCSB
|
0.49%
|
0.35%
|
|
Mackenzie Global
Leadership Impact ETF
|
MWMN
|
0.60%
|
0.55%
|
|
Mackenzie Ivy Global
Equity ETF
|
MIVG
|
0.85%
|
0.75%
|
|
Mackenzie Portfolio
Completion ETF
|
MPCF
|
0.60%
|
0.45%
|
|
Mackenzie Maximum
Diversification Canada Index ETF
|
MKC
|
0.60%
|
0.45%
|
|
Mackenzie Maximum
Diversification US Index ETF
|
MUS
|
0.60%
|
0.45%
|
|
Mackenzie Maximum
Diversification Developed Europe Index ETF
|
MEU
|
0.60%
|
0.50%
|
|
Mackenzie Maximum
Diversification All World Developed Index ETF
|
MWD
|
0.60%
|
0.50%
|
|
Mackenzie Maximum
Diversification All World Developed ex North
American Index ETF
|
MXU
|
0.60%
|
0.50%
|
|
Mackenzie Maximum
Diversification Emerging Markets Index ETF
|
MEE
|
0.60%
|
0.50%
|
Lower pricing on seven mutual funds
Effective
immediately, Mackenzie lowers management fees on these seven mutual
funds by 0.05%:
|
Current management
fees
|
New management
fees
|
|
Series PW
|
Series F, PWFB
and PWX
|
Series PW
|
Series F, PWFB
and PWX
|
|
Mackenzie Canadian
Money Market Fund
|
0.65%
|
0.40%
|
0.60%
|
0.35%
|
|
Mackenzie Canadian
Short Term Income Fund
|
0.95%
|
0.45%
|
0.90%
|
0.40%
|
|
Mackenzie Canadian
Bond Fund
|
1.00%
|
0.50%
|
0.95%
|
0.45%
|
|
Mackenzie Strategic
Bond Fund
|
1.00%
|
0.50%
|
0.95%
|
0.45%
|
|
Symmetry Fixed Income
Portfolio
|
1.00%
|
0.50%
|
0.95%
|
0.45%
|
|
Mackenzie Investment
Grade Floating Rate Fund
|
1.05%
|
0.55%
|
1.00%
|
0.50%
|
|
Mackenzie Global
Tactical Investment Grade Bond Fund
|
1.05%
|
0.55%
|
1.00%
|
0.50%
|
|
* Series include
all fixed rate distribution series equivalents. No changes to admin
fees or trail where applicable.
|
|
|
1The
high-water mark is how Mackenzie determines eligibility for
preferred pricing. It is the highest peak in value that a fund or
account has reached since the preferred pricing implementation date
(April 2017). While market value increases and additional purchases
increase your high watermark, market value decreases will not
decrease your high watermark. Redemptions from your account
will decrease your high watermark (except redemptions from
Charitable Giving Accounts, RDSPs and RRIFs, including LIFs, LRIFs,
PRIFs and RLIFs).
|
About Mackenzie Investments
Mackenzie
Investments was founded in 1967, and is a leading investment
management firm providing investment advisory and related services.
With $142.3 billion in assets under
management as of August 31, 2018,
Mackenzie Investments distributes its investment services through
multiple distribution channels to both retail and institutional
investors. Mackenzie Investments is a member of the IGM Financial
Inc. (TSX: IGM) group of companies. IGM Financial is one of
Canada's premier financial
services companies with $161.1
billion in total assets under management as of August 31, 2018. For more information, visit
mackenzieinvestments.com.
SOURCE Mackenzie Financial Corporation