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
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